Examples of Assignment of Insurances in a sentence
The Owner hereby covenants and undertakes with the Collateral Agent that it will procure that the interest of the Collateral Agent in the Insurances shall be endorsed on the instruments of insurance from time to time issued in connection with such of the Insurances as are placed with the Approved Brokers by means of a Notice of Assignment of Insurances (signed by the Owner and by any other assured who shall have assigned its interest in the insurances to the Collateral Agent).
The Owners and the Charterers agree that the provisions of this Charter relating to the insurance of the Vessel are subject to the terms and conditions of the Financial Instruments and that any insurance proceeds relating to the obligatory insurances shall be dealt with in accordance with the provision of the Financial Instruments or any loss payable clause required pursuant to the Assignment of Insurances (or replacement assignment of insurances).
But then I think my perception is, it’s more, again, kind of personality styles.
Within thirty (30) days following the Closing Date, (i) a U.S. Ship Mortgage in favor of the Collateral Agent, (ii) a Certificate of Ownership evidencing the recording of the U.S. Ship Mortgage, (iii) a letter to the master of such vessel, enclosing a copy of the Mortgage, (iv) an Assignment of Earnings and Charterparties in favor of the Collateral Agent and (v) an Assignment of Insurances in favor of the Collateral Agent.
Lessee shall have executed in favor of Lessor the Lessee Assignment of Insurances, if requested.