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;
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 Borrower shall ensure that the Earnings shall be dealt with in accordance with the provisions of the General Assignment and Earnings shall remain at free disposal of Borrower until an Event of Default occurs and is continuing.
Each Borrower shall ensure that subject only to the provisions of the relevant General Assignment and Charterparty Assignment, all the Earnings are paid into its Earnings Account.
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:
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, 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 each Ship, the general assignment of Earnings, insurances and requisition compensation in respect of such Ship executed or to be executed by the relevant Borrower in favour of the Lender substantially in the form set out in Appendix C (or in such other form as the Lender may approve or require) and in the plural, means both the General Assignments;