Charterparty Assignment definition

Charterparty Assignment means, in relation to a Ship, the deed of assignment of any Charterparty in favour of the Security Trustee, in such form as the Lenders may approve or require;

Charterparty Assignment means, in relation to an Assignable Charter, an assignment of the rights of the Borrower who is a party to that Assignable Charter under that Assignable Charter and any guarantee of such Assignable Charter executed or to be executed by that Borrower in favour of the Security Trustee in the Agreed Form and, in the plural, means all of them;

Charterparty Assignment means an assignment of a Charter executed or to be executed by the Borrower in favour of the Lender in the Agreed Form;

Examples of Charterparty Assignment in a sentence

• If a Borrower enters into any Charterparty, that Borrower shall, at the request of the Agent, execute in favour of the Security Trustee a Charterparty Assignment, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Part A and 6 of Part B of Schedule 3 hereof as the Agent may require.

• If any Owner enters into any Future Charterparty in respect of its Ship that Owner shall, at the request of the Agent, execute, or, as the case may be, procure the execution in favour of the Security Trustee of a Charterparty Assignment in respect of that Future Charterparty, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Schedule 4, Part A as the Agent may require.

• If any Owner enters into any Future Charterparty in respect of its Ship, the Borrower shall, at the request of the Agent, procure that the Owner executes in favour of the Security Trustee a Charterparty Assignment in respect of that Charterparty, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3,4 and 5 of Schedule 4, Part A as the Agent may require.

• If the Borrower enters into any Approved Charter, the Borrower shall at the request of the Lender execute in favour of the Lender (and register, if applicable) a Charterparty Assignment in respect of such Approved Charter, and shall deliver to the Lender any documents in relation thereto which the Lender may require.

• If any Owner enters into any charter in respect of its Ship which is of 11 months or more in duration, or is capable of exceeding 11 months in duration that Owner shall, at the request of the Agent, execute, or, as the case may be, procure the execution in favour of the Security Trustee a Charterparty Assignment in respect of that charter, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3,4 and 5 of Schedule 5, Part A as the Agent may require.

More Definitions of Charterparty Assignment

Charterparty Assignment means a first priority assignment of the Charterparty executed or to be executed by the Borrower in favour of the Agent (on behalf of the Finance Parties and the Swap Banks) as security for the Loans, in the terms and form as the Agent may require.

Charterparty Assignment means, in relation to:

Charterparty Assignment means the assignment of any Charterparty, in favour of the Lender, in form and substance satisfactory to the Lender as the same may from time to time be amended and/or supplemented;

Charterparty Assignment means, in relation to each Ship, an assignment of the rights of the Owner of that Ship under the Initial Charterparty for the Ship and any other charterparty or other contract of employment referred to in Clause 14.16 executed or to be executed by the relevant Owner in favour of the Security Trustee, in each case, in such form as the Lenders may approve or require and, in the plural, means all of them;

Charterparty Assignment in relation to a Vessel means the assignment of the relevant Shell Charterparty executed or (as the context may require) to be executed by the Owner thereof in favour of the Bank and an acknowledgement of notice of the assignment in respect of such Shell Charterparty to be given by the relevant Charterer, in form satisfactory to the Bank (together, the “Charterparties Assignments”);

Charterparty Assignment means a first priority assignment of any Charterparty (to the extent assignable) with a duration of more than eighteen (18) months, to be entered into between the relevant Obligor and the Security Agent (on behalf of the Finance Parties and the Swap Banks) as security for the Obligors’ obligations under the Finance Documents and any Swap Agreement(s), in form and substance as approved by the Security Agent (on behalf of the Finance Parties and the Swap Banks).

Charterparty Assignment means, in relation to an Assignable Charter, a first priority assignment of the rights of the relevant Borrower under that Assignable Charter and any related Charter Guarantee executed or to be executed by that Borrower in favour of the Security Agent in agreed form.