Proceeds Deed definition

Proceeds Deed means the agreement entered or (as the context may require) to be entered into between (inter alios) the Lessor, the Lessee, the Sub-Lessee, the Account Bank, the Lessor Agent, the Standby Purchaser, the First Security Agent and the Second Security Agent in the agreed form;
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Proceeds Deed means the proceeds deed entered into, or to be entered into, as the context may require, between, amongst others, the Borrower, the Guarantor and the Secured Parties.
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Proceeds Deed means, in relation to each Ship, the deed of proceeds and priorities between the Security Agent, the relevant Lessor, the Borrower, the Standby Purchaser, and the Proceeds Account Bank with respect to such Ship to be entered into on or about the date hereof and "Proceeds Deeds" means all such proceeds and priority deeds;
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Examples of Proceeds Deed in a sentence

  • The Lessee shall not, and shall procure that no other Transaction Company nor the Time Charterer will, create or permit to exist any Security Interest over or in respect of the Insurances save for the approved brokers’ or insurers’ right of set off and lien for unpaid premiums to the extent permitted by clause 13.8, and save for any security interest created by the Lessee in favour of the Security Trustee pursuant to and in accordance with the Proceeds Deed.

  • Notwithstanding anything to the contrary herein, any moneys payable under the Insurances shall be payable in accordance with the terms of the relevant Loss Payable clause and, where relevant, the Proceeds Deed.

  • In the event of any conflict between this Lease and any of the other Lease Documents, the provisions of this Lease shall prevail but in the event of any conflict between a Lease Document and the Proceeds Deed, the provisions of the Proceeds Deed shall prevail.

  • The arrangements concerning the transfer of flag or registry contained in this clause 14 shall be subject to the provisions of clause 8.7 of the Proceeds Deed.

  • During the Lease Period the Lessor shall not sell, transfer, assign or otherwise dispose of the legal title to, or beneficial interest in the Ship, or agree to do so, save as expressly contemplated by the provisions of this Lease, the Proceeds Deed and the Quiet Enjoyment Letter.

  • Any person which becomes the Agent as defined in, and in accordance with, the terms of the Facility Agreement, shall at the same time accede to this Deed by executing and delivering to the Security Trustee and the Borrower a Proceeds Deed Accession Undertaking.

  • Contemporaneously with the execution and delivery of any Transfer Certificate or Assignment Agreement (as applicable), the New Lender shall execute and deliver to the Security Trustee and the Guarantor a Proceeds Deed Accession Undertaking in accordance with the terms of the Proceeds Deed.

  • The Borrower shall procure that each entity that becomes a Subordinated Party shall accede to this Deed on or before the date on which it enters into the relevant Subordinated Agreement by executing and delivering to the Security Trustee and the Borrower a Proceeds Deed Accession Undertaking.

  • If the Agent receives a payment or any proceeds under the Transaction Documents other than pursuant to clause 8 (Application of Proceeds) of the Proceeds Deed, the Agent shall (unless otherwise specified in this Agreement) credit that payment or those proceeds to the Collection Account for application in accordance with clause 8 (Application of Proceeds) of the Proceeds Deed.

  • With effect from the date of acceptance by the Security Trustee and the Borrower of a Proceeds Deed Accession Undertaking (which shall be accepted as soon as reasonably practicable after receipt by it of a duly completed Proceeds Deed Accession Undertaking) or, if later the date specified in that Proceeds Deed Accession Undertaking, as from that date, the new Obligor shall assume the same obligations, and become entitled to the same rights, as if it had been an original Party to this Deed.


More Definitions of Proceeds Deed

Proceeds Deed means that certain proceeds deed dated 9 July 2025 and entered into by and between, among others, the Lenders, the Borrowers and the Mortgagee (in its capacity as agent and security agent).
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