NOTICE OF ASSIGNMENT OF INSURANCES Sample Clauses

NOTICE OF ASSIGNMENT OF INSURANCES. TO: TAKE NOTICE:
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NOTICE OF ASSIGNMENT OF INSURANCES. The Assignor undertakes immediately to give notice of the assignment of the Insurances contained in Clause 3 to all brokers, insurance companies, underwriters, protection and indemnity and/or war risk associations through whom any of the policies or entries relating to the Insurances are effected in the form of Schedule 5 and to obtain from such brokers, insurance companies or underwriters a letter of undertaking in the form of Schedule 6 or in such other form as the Agents may require and from such protection and indemnity or war risk associations in the form of Schedule 7 or in such other form as the Agents may agree.
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NOTICE OF ASSIGNMENT OF INSURANCES for Norwegian Sun Limited in the form of Exhibit A to the Assignment of Insurances, together with Loss Payable Clause shall be delivered to each underwriter.
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NOTICE OF ASSIGNMENT OF INSURANCES for Norwegian Spirit, Ltd. in the form of Exhibit A to the Assignment of Insurances, together with Loss Payable Clause shall be delivered to each underwriter.
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NOTICE OF ASSIGNMENT OF INSURANCES. Each of the undersigned, [SHIPOWNER], the owner (the “Owner”) of the [COUNTRY FLAG] flag vessel “[VESSEL NAME]”, and GENER8 MARITIME SUBSIDIARY II INC., the Borrower under the Credit Agreement, dated as of September 3, 2015 (as the same may be amended, supplemented or otherwise modified from time to time) among various lenders referred to therein and NORDEA BANK FINLAND PLC, NEW YORK BRANCH as Facility Agent and Collateral Agent (hereinafter called the “Assignee”), hereby give you notice that by a Global Assignment Agreement dated [DATE] entered into by, inter alia, us with the Assignee, there has been assigned by us to the Assignee all insurances effected and to be effected in respect thereof including the insurances constituted by the policy whereon this Notice is endorsed. This Notice of Assignment and the applicable loss payable clauses in the form hereto attached as Annex I are to be endorsed on all policies and certificates of entry evidencing such insurance. Dated: [SHIPOWNER], as Owner By: Name: Title: GENER8 MARITIME SUBSIDIARY II INC. By: Name: Title: Annex I to Notice of Insurance Assignment FORM OF LOSS PAYABLE CLAUSES Hull and War Risks Loss, if any, payable to NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Collateral Agent (the “Mortgagee”), for distribution by the Mortgagee to itself as Collateral Agent and to [SHIPOWNER], as owner (the “Owner”), as their respective interests may appear, or order, except that, unless underwriters have been otherwise instructed by notice in writing from the Mortgagee following the occurrence and continuation of an Event of Default (as defined in the Credit Agreement), in the case of any loss involving any damage to the Vessel or liability of the Vessel, the underwriters may pay directly for the repair, salvage, liability or other charges involved or, if the Owner shall have first fully repaired the damage and paid the cost thereof, or discharged the liability or paid all of the salvage or other charges, then the underwriters may pay the Owner as reimbursements therefore; provided, however, that if such damage involves a loss in excess of U.S.$2,000,000.00 or its equivalent the underwriters shall not make such payment without first obtaining the written consent thereto of the Mortgagee. In the event of an actual or constructive total loss or a compromise or arranged total loss or requisition of title, all insurance payments therefor shall be paid to the Mortgagee, for distribution by it in accordance with the te...
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NOTICE OF ASSIGNMENT OF INSURANCES. We ADVENTURE FOUR S.A. having our registered office at Trust Company Complex, Ajeltake Island, Majuro, The Republic of the Mxxxxxxx Islands (“the Owner”), Owner of the m/v “FREE FIGHTER” ex “SOUTH GLORY” registered in our name under Panamanian flag with Official Number .............(the “Vessel”) HEREBY GIVE NOTICE that by a Deed of Assignment dated ...... June 2005 entered into by us with EGNATIA BANK S.A., a bank incorporated in Greece and acting for the purposes hereof through its Shipping Dxxxxxxxxx xx 000, Xxxxxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxx, (the “Bank”) as Mortgagee of the Vessel there have been assigned by us to the Bank all insurances in respect thereof and all benefits arising under the insurances taken or entered into from time to time by the Owner or for the benefit of the Owner in respect thereof including but not limited to the insurances constituted by the policy whereon this notice is endorsed or shall be endorsed. Dated June 2005 For and on behalf of ADVENTURE FOUR S.A.
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NOTICE OF ASSIGNMENT OF INSURANCES. (a) that by an Assignment of Insurances dated as of the day of 2015 made by us to DNB Bank ASA, New York Branch, as security trustee (the “Assignee”), a copy of which is attached hereto, we have assigned to the Assignee as from the date of said assignment, inter alia, all our right, title and interest in, to and under all policies and contracts of insurance, including our rights under all entries in any Protection and Indemnity Association or Club, which are from time to time taken out by us in respect of the Xxxxxxxx Islands flag vessel [·] (the “Vessel”), Official No. [·], and its earnings and all the benefits thereof including all claims of whatsoever nature (all of which together are hereinafter called the “Insurances”).
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Related to NOTICE OF ASSIGNMENT OF INSURANCES

  • Assignment of Insurance As additional security for the payment and performance of the Obligations, the Borrower hereby assigns to the Lender any and all monies (including, without limitation, proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other rights of the Borrower with respect to, any and all policies of insurance now or at any time hereafter covering the Collateral or any evidence thereof or any business records or valuable papers pertaining thereto, and the Borrower hereby directs the issuer of any such policy to pay all such monies directly to the Lender. At any time, whether or not a Default Period then exists, the Lender may (but need not), in the Lender's name or in the Borrower's name, execute and deliver proof of claim, receive all such monies, endorse checks and other instruments representing payment of such monies, and adjust, litigate, compromise or release any claim against the issuer of any such policy.

  • Notice of Assignment Upon its receipt of a duly executed and completed Assignment Agreement, together with the processing and recordation fee referred to in Section 10.6(d) (and any forms, certificates or other evidence required by this Agreement in connection therewith), Administrative Agent shall record the information contained in such Assignment Agreement in the Register, shall give prompt notice thereof to Company and shall maintain a copy of such Assignment Agreement.

  • Terms of Assignment (a) Date of Assignment:

  • Notices of assignment copies of duly executed notices of assignment required by the terms of the Ship Security Documents and in the forms prescribed by the Ship Security Documents;

  • Effect of Assignment Subject to the terms and conditions of this Section 9.6, as of the “Effective Date” specified in the applicable Assignment Agreement: (i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent such rights and obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to such Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 9.8) and be released from its obligations hereunder (and, in the case of an Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto; provided, anything contained in any of the Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising prior to the effective date of such assignment; (iii) the Revolving Commitments shall be modified to reflect the Revolving Commitment of such assignee and any Revolving Commitment of such assigning Lender, if any; and (iv) if any such assignment occurs after the issuance of any Revolving Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Revolving Loan Notes to Administrative Agent for cancellation, and thereupon Company shall issue and deliver new Revolving Loan Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Revolving Commitments and/or outstanding Revolving Loans of the assignee and/or the assigning Lender.

  • RIGHT OF ASSIGNMENT (6) The Lessee will not assign, transfer, pledge, hypothecate, surrender or dispose of this lease, or any interest herein, sublet, or permit any other person or persons whomsoever to occupy the Premises without the written consent of the Lessor being first obtained in writing; this lease is personal to Lessee; Lessee’s interests, in whole or in part, cannot be sold, assigned, transferred, seized or taken by operation at law, or under or by virtue of any execution or legal process, attachment or proceedings instituted against the Lessee, or under or by virtue of any bankruptcy or insolvency proceedings had in regard to the Lessee, or in any other manner, except as above mentioned. Notwithstanding any provision in this Lease, Lessee may, without Lessor consent, execute and deliver one or more leasehold mortgages (or leasehold trust deeds) to any lender to Lessee with respect hereto.

  • Certificate of Insurance Evidence of the insurance coverage required by Section 6.8 of this Agreement.

  • Notification of Assignment of Receivables At any time following the occurrence of an Event of Default or a Default, Agent shall have the right to send notice of the assignment of, and Agent's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Agent's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

  • Form of Insurance All of the policies of insurance referred to in this Section shall be written in form reasonably satisfactory to Lessor and by insurance companies satisfactory to Lessor. Lessee shall pay all of the premiums therefor, and shall deliver such original policies, or a certified copy thereof (which is certified in writing by a duly authorized agent for the insurance company as a "true and certified" copy of the policy), or in the case of a blanket policy, a copy of the original policy, to the Lessor effective with the Commencement Date and furnished annually thereafter (and, with respect to any renewal policy, at least fifteen (15) days prior to the expiration of the existing policy) and in the event of the failure of Lessee either to obtain such insurance in the names herein called for or to pay the premiums therefor, or to deliver such policies or certified copies of such policies to Lessor at the times required, Lessor shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, which premiums shall be repayable to Lessor upon written demand therefor, and failure to repay the same shall constitute an Event of Default within the meaning of Section 16.1(c). Each insurer mentioned in this Section shall agree, by endorsement on the policy or policies issued by it, or by independent instrument furnished to Lessor, that (i) it will give to Lessor sixty (60) days' prior written notice (at Lessor's address as specified in Article XXXIII hereof {the "Lessor's Notice Address")) before the policy or policies in question shall be altered, allowed to expire or canceled, (ii) the policy will not lapse, terminate, be canceled or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than sixty (60) days' prior written notice at Lessor's Notice Address, (iii) in the event of cancellation due to non-payment of premium, the insurer will provide not less than ten (10) days' prior written notice to the Lessor at the Lessor's Notice Address. Notwithstanding anything contained herein to the contrary, all policies of insurance required to be obtained by Lessee hereunder shall provide that such policies will not lapse, terminate, be canceled, or be amended or modified to reduce limits or coverage terms unless and until Lessor has received not less than thirty (30) days' prior written notice at the address provided in Section XXXIII hereof.

  • Acceptance of Assignment Assignee hereby accepts the assignment contained in paragraph 1 hereof.

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