Common use of Assignable Charterparty Clause in Contracts

Assignable Charterparty. ensure and procure that in the event of the Vessel being employed under an Assignable Charterparty: (i) execute and deliver to the Lender within fifteen (15) days from the Lender’s relevant request a specific assignment of all its rights, title and interest in and to such charter in the form of a Charterparty Assignment and a notice of such assignment addressed to the relevant charterer; (ii) in case an Event of Default has occurred and is continuing, ensure (on a best effort basis) that the relevant charterer agree to acknowledge to the Lender the specific assignment of such charter and charter guarantee by executing an acknowledgement substantially in the form included in the relevant Charterparty Assignment; (iii) in the case where such charter is a demise charter, ensure (on a best effort basis) that the relevant charterer shall (1) comply with all of the Borrower’s undertakings with regard to the employment, insurances, operation, repairs and maintenance of the Vessel contained in this Agreement, the Mortgage and the General Assignment and (2) provide (inter alia) an assignment of its interest in the insurances of the Vessel in the form of a tripartite agreement in form and substance acceptable to the Lender, to be made between the Lender, the Borrower and such charterer;

Assignable Charterparty. ensure and procure that in the event of the its Vessel being employed under an Assignable Charterparty: (i) It shall execute and deliver to the Lender within fifteen (15) days from the Lender’s relevant request of signing thereof a specific assignment of all its rights, title and interest in and to such charter and any charter guarantee (if available) in the form of a Charterparty Assignment and a notice of such assignment addressed to the relevant charterer; (ii) in case an Event of Default has occurred and is continuing, It will ensure (on a best effort reasonable endeavours basis) that the relevant charterer and any charter guarantor agree to acknowledge to the Lender the specific assignment of such charter and charter guarantee by executing an acknowledgement substantially in the form included in the relevant Charterparty Assignment; ; 56 (iii) in the case where such charter is a demise charter, charter it will ensure (on a best effort basis) ), that the relevant charterer shall undertakes to the Lender (1) to comply with all of the Borrower’s 's undertakings with regard to the employment, insurances, operation, repairs and maintenance of the its Vessel contained in this Agreement, the Borrower’s Mortgage and the Borrower’s General Assignment and (2) to provide (inter alia) an assignment of its interest in the insurances of the its Vessel in the form of a tripartite agreement in form and substance acceptable to the Lender, to be made between the Lender, the Borrower and such charterer;

Assignable Charterparty. ensure and procure that in the event of the Vessel being employed under an Assignable Charterparty: (i) execute and deliver to the Lender within fifteen (15) days from the Lender’s relevant request a specific assignment of all its rights, title and interest in and to such charter and any charter guarantee in the form of a Charterparty Assignment and a notice of such assignment addressed to the relevant charterer; (ii) in case an Event of Default has occurred and is continuing, ensure (on a best reasonable endeavors effort basis) that the relevant charterer and any charter guarantor agree to acknowledge to the Lender the specific assignment of such charter and charter guarantee by executing an acknowledgement substantially in the form included in the relevant Charterparty Assignment; (iii) in the case where such charter is a demise charter, ensure (on a best effort basis) that the relevant charterer shall undertakes to the Lender to (1) comply with all of the Borrower’s 's undertakings with regard to the employment, insurances, operation, repairs and maintenance of the Vessel contained in this Agreement, the Mortgage and the General Assignment and (2) provide (inter alia) an assignment of its interest in the insurances of the Vessel in the form of a tripartite agreement in form and substance acceptable to the Lender, to be made between the Lender, the Borrower and such charterer;