Application of Earnings. Each Borrower undertakes with the Lenders that any funds from time to time credited to, or standing to the credit of, its Earnings Account shall, unless and until an Event of Default shall have occurred and is continuing (whereupon the provisions of Clause 17.1 shall apply), be available for application in the following manner:
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Sources: Second Amending and Restating Deed (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)
Application of Earnings. Each Borrower undertakes with the Lenders that any funds money from time to time credited to, or for the time being standing to the credit of, its Earnings Account shall, unless and until an Event of Default shall have occurred and is continuing (whereupon the provisions of Clause 17.1 shall applybe and become applicable), be available for application in the following manner:
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Application of Earnings. Each Borrower undertakes with the Lenders to procure that any funds money from time to time credited to, or for the time being standing to the credit of, its an Earnings Account shall, unless and until an Event of Default shall have occurred and for so long as the same is continuing (whereupon the provisions of Clause 17.1 shall applybe and become applicable), be available for application in to the following manner:Borrower.
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