Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;
Retention Account means an account in the name of the Borrower with the Lender in Basel or any other account (with that or another office of the Lender or with a bank or financial institution other than the Lender) which is designated by the Lender as the Retention Account for the purposes of this Agreement;
Retention Account means an account in the joint names of the Borrowers with the Agent in Hamburg designated “Dune Shipping Corp. and Citrine Shipping Corporation – Retention Account”, or any other account (with that or another office of the Agent) which replaces such account and is designated by the Agent as the Retention Account for the purposes of this Agreement in accordance with the Agent’s instructions;
Examples of Retention Account in a sentence
The Lender shall be entitled (but not obliged) from time to time to debit the Retention Account without prior notice in order to discharge any amount due and payable under Clauses 20 (Fees and Expenses ) or 21 (Indemnities ) to the Lender or payment of which the Lender has become entitled to demand under Clauses 20 (Fees and Expenses) or 21 (Indemnities).
More Definitions of Retention Account
Retention Account has the meaning given to it in Section 3.10 of the Security Agreement; “Reuters Screen Page” has the meaning given to it in Condition 5.10 (Definitions);
Retention Account means an account in the name of the Borrower with the Agent designated "Paragon Shipping Inc. - Retention Account", or any other account which is designated by the Agent as the Retention Account for the purposes of this Agreement;
Retention Account has the meaning given to it in Section 3.10 of the Security Agreement;
Retention Account has the meaning ascribed to it in the Assignment of Earnings and Insurances;
Retention Account means any Account designated as a “Retention Account” under clause 25 (Bank accounts).
Retention Account means the bank account to be opened by the Borrower with the Account Bank and designated “Seaspan Corporation – Retention Account”.
Retention Account means an account in the name of the Borrower with the Account Bank designated “Red Rose Shipping Corp. - Retention Account”, or any other account (with that or another office of the Account Bank which replaces this account and is designated by the Agent as the Retention Account for the purposes of this Agreement;