Insurance Collateral definition

Insurance Collateral means, collectively, all “Insurances” as defined in each Assignment of Insurances.

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Insurance Collateral shall have the meaning specified in Section 2.02(b).

Insurance Collateral shall have the meaning set forth in the General Assignment Agreement.

Examples of Insurance Collateral in a sentence

Each Credit Party shall cause the earnings derived from each of the respective Collateral Vessels, to the extent constituting Earnings and Insurance Collateral or Secondary Earnings and Insurance Collateral, to be deposited by the respective account debtor in respect of such earnings into one or more of the Concentration Accounts maintained for such Credit Party from time to time.
Without limiting any Credit Party’s obligations in respect of this Section 8.12, each Credit Party agrees that, in the event it receives any earnings constituting Earnings and Insurance Collateral or Secondary Earnings and Insurance Collateral, or any such earnings are deposited other than in one of the Concentration Accounts, it shall promptly deposit all such proceeds into one of the Concentration Accounts maintained for such Credit Party from time to time.
Each Assignor agrees that if this Assignment shall at any time be insufficient in whole or in part to create a valid security interest in the Insurance Collateral pledged by it, it shall execute or cause to be executed such other documents or deliver or cause to be delivered such further assurances as may be necessary in order to create a valid security interest in such Insurance Collateral.
For the avoidance of doubt, nothing herein shall require the Assignee to file any such financing statements or any continuation statements, or be responsible for maintaining the security interests purported to be created by this Assignment (except for the safe custody of any Insurance Collateral in its possession and the accounting for moneys actually received by it under this Assignment) and such responsibility shall be solely that of each Assignor.
Full-time employees will accrue Sick Leave at the rate of 10 hours per month of completed service, to be credited on the first day ofthe following month.

More Definitions of Insurance Collateral

Insurance Collateral has the meaning set forth in Section 4.1(u) hereof.

Insurance Collateral shall have the meaning set forth in the Global Assignment Agreement.

Insurance Collateral as defined in Section 10.25(b).

Insurance Collateral means (a) all Insurance Policies in respect of the Collateral Rigs, whether heretofore, now or hereafter effected, and all renewals of or replacements for the same, (b) all claims, returns of premium and other moneys and claims for moneys due and to become due under or in respect of the Insurance Policies in respect of the Collateral Rigs, (c) all other rights of the Loan Parties under or in respect of the Insurance Policies in respect of the Collateral Rigs and (d) any proceeds of any of the foregoing.

Insurance Collateral as the case may be, as defined in the respective Assignment of Earnings and the Assignment of Insurances.

Insurance Collateral has the meaning assigned to such term in Section 2.03.

Insurance Collateral means fifty percent (50%) of the Insurance Proceeds; such 500/0 shall be calculated so that with respect to each $1.00 of Insurance Proceeds that is owing to or received by the Purchaser, $0.50 shall be subject to the security interest of the Collateral Agent for the benefit of the holders of the Bank Notes, and shall be applied immediately upon receipt to repay the Bank Notes as provided therein.