General Assignment definition

General Assignment means, in relation to a Ship, a general assignment of the Earnings, the Insurances and any Requisition Compensation in the Agreed Form;

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General Assignment means, in respect of each Vessel, the deed of assignment of its earnings, insurances and requisition compensation executed or to be executed by the relevant Owner in favour of the Security Trustee in such form as the Agent and the Majority Lenders may require in their sole discretion and in the plural means all of them;

General Assignment means, in respect of each Vessel, the deed of assignment of its earnings, insurances and requisition compensation executed or to be executed by the relevant Owner in favour of the Bank in such form as the Bank may require in its sole discretion, and in the plural means both of them;

Examples of General Assignment in a sentence

The relevant Borrower’s Earnings from the Ship shall be paid in accordance with clause 27.1 (Earnings Account) unless required to be paid to the Security Agent pursuant to the Deed of Covenant or General Assignment (as applicable) for that Ship.
The Mortgage and the Deed of Covenant or General Assignment (as applicable) in respect of the relevant Ship.
Except as approved by the Majority Lenders (such approval not to be unreasonably withheld or delayed), the Borrower and the Bareboat Charterer shall use all reasonable endeavours to procure that the Charterer shall not grant or allow to exist any Security Interest over any asset of the Charterer over which a Security Interest is granted or expressed to be granted by its Charter Assignment, Deed of Covenant or General Assignment (as applicable) (as the case may be) other than Permitted Security Interests.
If any Earnings are held by brokers or other agents, they shall be paid to the Agent, if it requires this after the Earnings have become payable to it under the Deed of Covenant or General Assignment (as applicable) for that Ship.

More Definitions of General Assignment

General Assignment shall have the meaning set forth in Section 5.2.3.

General Assignment has the meaning ascribed to it in Section 1.04.

General Assignment means, in relation to a Ship, the general assignment creating Security over that Ship’s Earnings, its Insurances and any Requisition Compensation in relation to that Ship and any charter entered into or to be entered into with a term exceeding or capable of exceeding 14 months and any supporting guarantee in relation to such charter in agreed form.

General Assignment means, in relation to a Ship, the general assignment creating Security over:

General Assignment shall have the meaning ascribed thereto in Section 5.1(f) hereof.

General Assignment means an assignment of, inter alia, any Management Agreement, the Earnings, the Insurances, any charter and any Requisition Compensation, executed or to be executed by the Borrower and/or the Charterer as charterer.

General Assignment means, in relation to a Ship, a general assignment of (inter alia) the Earnings, the Insurances and any Requisition Compensation relative to that Ship in the Agreed Form and, in the plural, means all of them;