Vessel Account definition

Vessel Account means a bank account in the name of the Managers opened and operated in accordance with Clause 8.4, the details of which shall be notified to the Owners from time to time;
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Vessel Account means the responsibilities, duties, rights and liabilities of the Vessel, and are intended to include not only the Vessel itself, but also the owner, operator, master, or agent, as applicable.
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Examples of Vessel Account in a sentence

  • In the event that a Recipient is entitled to additional shares pursuant to clause (B)(iii) above, an appropriate portion of such shares shall be delivered into the Recipient's sub-account of the Indemnity Account, the Collar Account and the Post-Closing Vessel Account, in each case if applicable, for such Recipient and IPO-Co may instruct the Escrow Agent to so deliver such shares.

  • In the event that a Recipient is entitled to additional shares pursuant to clause (C)(ii) above, an appropriate portion of such shares shall be delivered into the Indemnity Account, the Purchase Price Calculation Account and the Post-Closing Vessel Account, in each case if applicable, for such Recipient and IPO-Co may instruct the Escrow Agent to so deliver such shares.

  • IPO-Co shall cause the Escrow Agent to deliver certificates evidencing the remainder of the Recapitalization Shares other than Shares in the Post-Closing Vessel Account to the Recipients other than the Post-Closing Sellers as promptly as practicable and in any event no later than 30 days following the Recapitalization Closing Time in accordance with the Preliminary Calculation.

Related to Vessel Account

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Earnings Account means, in relation to a Ship, an account in the name of the Borrower owning that Ship with the Account Bank designated as the Earnings Account for that Ship, or any other account (with the Account Bank or the Agent or with another bank or financial institution acceptable to the Majority Lenders) for the purpose of receiving all charter hire and other amounts paid under the relevant Time Charter;

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Consolidated Account means an account which is a consolidation of any separate accounts of a person who is liable for payment to the Municipality;

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • JetBrains Account or “JBA” means an account at xxxxx://xxxxxxx.xxxxxxxxx.xxx created by Customer, having a unique name and password, and through which Customer has access to Products in accordance with a Toolbox Subscription.

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.