Ship Mortgage shall have the meaning set forth for such term in the Intercreditor Agreement. Notice of Assignment ASSIGNMENT OF INSURANCE BY INTERNAL CHARTERERS Vantage Driller IV Co. NOTICE OF ASSIGNMENT To Whom It May Concern: Vantage Drilling Netherlands BV, an exempted company incorporated with limited liability under the laws of the Netherlands (the “Assignor”), HEREBY GIVES NOTICE that by an Assignment, dated October 25, 2012, and made by the Assignor to Xxxxx Fargo Bank, National Association (the “Assignee”), as Pari Passu Collateral Agent (as defined under the Intercreditor Agreement defined below), the Assignor assigned to the Assignee all of the Assignor’s right, title and interest in and to all insurances and the benefit of all insurances heretofore, now or hereafter taken out in respect of the Panamanian flag vessel EMERALD DRILLER and all proceeds thereof. This Notice and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.
Ship Mortgage means either the first preferred ship mortgage or first priority statutory mortgage and related deed of covenants, in each case, on each of the Mortgaged Vessels granted by a Mortgaged Vessel Guarantor to the Collateral Trustee and dated on or before the Issue Date or a Vessel Tender Date, as the case may be, as amended from time to time in accordance with the terms of this Indenture and such Ship Mortgages, which in the case of (i) the Greek Ship Mortgage shall be substantially in the form of Exhibit F-1 hereto, (ii) the Maltese Ship Mortgage shall be substantially in the form of Exhibit F-2 hereto, (iii) the Panamanian Ship Mortgage shall be substantially in the form of Exhibit F-3 hereto and (iv) any other Ship Mortgage from time to time established under the terms of any other jurisdiction, including any Ship Mortgage in connection with the transfer or change of flag to a Permitted Flag Jurisdiction, shall be substantially in the form of any of Exhibits F-1, F-2 or F-3 hereto.
Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.
Examples of Ship Mortgage in a sentence
A fund may serve in lieu of a Restricted Fund required in connection with Federal Ship Mortgage Guarantee or Insurance under 46 U.S.C. Chapter537 and the regulations thereunder upon approval by the Maritime Admin- istrator.
For the purposes of the documentation laws, for which compliance is required under paragraph (1) of this subsection, ocean thermal energy conversion facilities and plantships shall be deemed to be vessels and, if documented, ves- sels of the United States for the purposes of the Ship Mortgage Act, 1920 (46 U.S.C. 911–984).
For complete classification of this Act to the Code, see Short Title note set out under section 9101 of this title and Tables.The Ship Mortgage Act, 1920, referred to in subsec.
This Rig is covered by a First Preferred Mortgage to CHRISTIANIA BANK OG KREDITKASSE, NEW YORK BRANCH, as Security Trustee for the Banks defined in the said Mortgage under authority of the United States Ship Mortgage Act, 1920, as amended, recodified as 46 U.S.C. 31301 et seq.
There shall be an attempt to resolve the dispute, but if resolution is not possible, each party shall submit their position and supporting documentation to the ESD 113 Board of Directors, whose decision shall be final.
More Definitions of Ship Mortgage
Ship Mortgage means collectively the Required Priority naval mortgages and other instruments such as statutory mortgages and deeds over the Vessels, each duly registered in the Bahamian or Panamanian ship registry, as applicable, in favor of the Noteholder Collateral Agent, in substantially the form of Exhibits C-1 and C-2, as the same may be amended, supplemented or modified from time to time.
Ship Mortgage means, collectively, the first naval mortgages and other instruments such as deeds over the Collateral Vessels, each duly registered in the ship registry appropriate for such Collateral Vessel in favor of the Collateral Agent, substantially in the form of Exhibit J hereto, as the same may be amended, supplemented or modified from time to time.
Ship Mortgage either the first preferred ship mortgage or first priority statutory mortgage and related deed of covenants, in each case, on each of the Mortgaged Vessels granted by a Mortgaged Vessel Guarantor to the Administrative Agent and dated on or before the Closing Date or a Vessel Tender Date, as the case may be, as amended from time to time in accordance with this Agreement and such Ship Mortgages, which in the case of (i) Panamanian Ship Mortgages shall be substantially in the form of Exhibit J hereto and (ii) any other Ship Mortgage from time to time established under the terms of any other jurisdiction, including any Ship Mortgage in connection with the transfer or change of flag to a Permitted Flag Jurisdiction, shall be substantially in a form reasonably acceptable to the Administrative Agent (it being understood and agreed that ship mortgages in customary form for a jurisdiction shall be deemed to be reasonably acceptable to the Administrative Agent).
Ship Mortgage means a security instrument (whether designated as a first preferred ship mortgage or by any similar title) executed and delivered by any Loan Party, substantially in such form as may be approved by Administrative Agent in its reasonable discretion, in each case with such changes thereto as may be reasonably recommended by Administrative Agent’s or Borrower’s local counsel based on local laws or customary local first preferred ship mortgage practices.
Ship Mortgage means, in relation to an Owned Ship:-
Ship Mortgage means collectively the first naval mortgages and other instruments such as statutory mortgages and deeds over the Vessels (including, with respect to the Dragonquest, executed, delivered, and recorded as of the date the Dragonquest is delivered by DSME to the applicable Guarantor), each duly registered in the Bahamian or Panamanian ship registry, as applicable, in favor of the Noteholder Collateral Agent, as the same may be amended, supplemented or modified from time to time.”.
Ship Mortgage means any mortgage, deed of trust or other similar agreement made by a Grantor in favor of the Notes Collateral Agent, for the benefit of the Notes Collateral Agent and the relevant Secured Notes Secured Parties, on any tanker or other marine vessel constituting Collateral, which shall be in form reasonably satisfactory to the Notes Collateral Agent and the Issuer.