Conversion Contract Assignment definition

Conversion Contract Assignment means an assignment, in form and substance reasonably satisfactory to Agent, pursuant to which Lower Lakes 17 shall assign to Agent, with first priority, and to the Second Lien Agent, with second priority, all of Lower Lakes 17’s rights and interests (including any liens granted to Lower Lakes 17 in material and work-in-process) in the contract relating to the Conversion, to secure the obligations of the Credit Parties under this Agreement and the Second Lien Credit Agreement, respectively, which assignment shall be notified to, and acknowledged by, the Conversion Shipyard; provided, however, that if a Permitted Sale-Leaseback Transaction shall be consummated prior to the completion of the Conversion, any previously executed and delivered Conversion Contract Assignment shall be released to the extent necessary to permit Lower Lakes 17 to consummate such Permitted Sale-Leaseback Transaction.
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Related to Conversion Contract Assignment

  • Purchase Agreement Assignment means that certain Purchase Agreement Assignment [NW 1997 I], dated as of February 3, 1998, between Lessee and Lessor, as the same may be amended, supplemented or modified from time to time, with a form of Consent and Agreement to be executed by the Manufacturer attached thereto.

  • Loan Assignment has the meaning set forth in the Purchase and Sale Agreement.

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

  • Contract Amendment means a written document signed by the Procurement Officer that is issued for the purpose of making changes in the Contract.

  • Assignment and Conveyance Agreement As defined in Subsection 6.01.