General Assignment definition

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;

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 both of them;

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

Examples of General Assignment in a sentence

• The Mortgage (including the VID), the Deed of Covenant, the General Assignment and the Danish Security Agreement (each as applicable in respect of each Ship) duly executed by the relevant Borrower (as owner).

• 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 Ship's General Assignment for that Ship.

• The relevant Owner's Earnings from the Ship shall be paid in accordance with clause 28.1 (Earnings Account) unless required to be paid to the Security Agent pursuant to the General Assignment for that Ship.

• The relevant Owner'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 General Assignment for that Ship.

• Each Collateral Guarantor shall ensure that, as and from the First Utilisation Date, subject only to the provisions of the General Assignment to which it is a party, all the Earnings in respect of the Ship owned by it are paid into the Earnings Account.

More Definitions of General Assignment

General Assignment has the meaning ascribed to it in Section 1.05.

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 shall have the meaning ascribed thereto in Section 5.1(g) hereof.

General Assignment means the general assignment of Earnings, Insurances and Requisition Compensation in respect of the Ship executed or to be executed by the Guarantor in favour of the Lender in such form as the Lender may approve or require;

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 means a general assignment of the Earnings, the Insurances and any Requisition Compensation in the Agreed Form;