Charter Assignment definition

Charter Assignment means a specific assignment of each Extended Employment Contract required to be executed hereunder by any Borrower in favour of the Security Trustee (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Agent and the Majority Lenders may require in their sole discretion;

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Charter Assignment means, in relation to a Ship and its Charter Documents, an assignment by the relevant Owner of its interest in such Charter Documents in favour of the Security Agent in the agreed form.

Charter Assignment means a specific assignment of any Extended Employment Contract required to be executed hereunder by either Owner in favour of the Bank (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Bank may require in its sole discretion;

Examples of Charter Assignment in a sentence

• In respect of any Charter, the relevant Owner shall give notice of assignment of the Charter Documents to the other parties to them in the form specified by the Charter Assignment for that Ship promptly following the execution of the Charter Assignment and shall use its reasonable endeavours to ensure that the Agent receives a copy of that notice acknowledged by each addressee in the form specified therein.

• The Assignor hereby agrees that so long as this Charter Assignment is in effect it will not terminate said Charter, or amend, modify, supplement, or waive any material term of said Charter in a manner adverse to the Assignee, in each case without first obtaining the written consent of the Assignee therefor.

• Each Borrower undertakes with each Creditor Party to ensure that, subject only to the provisions of the relevant Time Charter Assignment or the relevant Earnings Assignment, all Earnings of the Ship owned by it are paid to the relevant Earnings Account.

• The Charterer shall allow the Security Agent to enforce the rights of the relevant Owner under the Charter as assignee of those rights under the relevant Charter Assignment.

• If a Charter Assignment is then required in relation to the relevant Ship pursuant to the Finance Documents such evidence as the Agent may require as to the due incorporation of the relevant Charterer and any other party to the Charter Documents (other than an Obligor).

More Definitions of Charter Assignment

Charter Assignment means, in relation to a Ship, an assignment of the Charter for such Ship, in the form set out in Appendix A;

Charter Assignment means the assignment of the rights of the Borrower under the Charter required to be executed hereunder by the Borrower in favour of the Security Trustee in the agreed form;

Charter Assignment means in relation to each Ship, the first priority deed of assignment of the Charter in respect of that Ship made or, as the context may require, to be made between the Owner thereof and the Lender in form and substance satisfactory to the Lender in its sole discretion as the same may from time to time hereafter be amended, varied or supplemented and, in the plural, means all of them;

Charter Assignment means, in relation to a Ship, an assignment of the rights of the Guarantor owning that Ship under the relevant Charter, Charter Guarantee, Management Agreement, Off-Hire Guarantee and (where applicable) Charter Substitution Agreement, in such form as the Lender may approve or require, and in the plural means all of them;

Charter Assignment means an assignment of a Charter and any Charter Guarantee which is assignable pursuant to Clause 21.21 (Charter assignment) in favour of the Lender in form and substance satisfactory to the Lender.

Charter Assignment means the security agreement in the form attached at Appendix 3 (Form of Charter Assignment) dated on or about the date of a Drilling Charter from the Owner to the Security Trustee in respect of:

Charter Assignment means a first charter assignment by the relevant Owner of its interest in the Charter Documents in favour of the Security Agent in the agreed form.