Assignment of Earnings Sample Clauses

Assignment of Earnings. 14.1 The earnings of the Pool may not be assigned by the Participant. The Participant may only assign the earnings distributed by the Pool pertaining to the Vessel.
AutoNDA by SimpleDocs
Assignment of Earnings not assign or agree to assign otherwise than to the Bank the Earnings or any part thereof; and
Assignment of Earnings not assign or agree to assign otherwise than to the Lender the Earnings or any part thereof.
Assignment of Earnings assign or agree to assign otherwise than to the Security Trustee the Earnings or any part thereof;
Assignment of Earnings assign or agree to assign otherwise than to the Agent the Earnings of such Additional Ship or any part thereof;
Assignment of Earnings assign or agree to assign otherwise than to the Bank the Earnings of such Additional Ship or any part thereof;
Assignment of Earnings assign or agree to assign otherwise than to the Security Agent the future earnings of the Ship or any part thereof; or
AutoNDA by SimpleDocs
Assignment of Earnings. A first priority assignment of all earnings of the Vessels by the Borrowers and the Charterer including all Earnings under the Charter Parties, together with a negative pledge, such assignment and negative pledge to be notified to the Charterer and any other charterers (including sub-charterers) chartering any Vessel for a period in excess of 12 (twelve) months in the form as set out in Exhibit 3 - Form of Security Agreement;
Assignment of Earnings. Immediately following the repayment of the Senior Loans and of all amounts outstanding under the Senior Loan Agreements and the release of the Senior Finance Documents, the Borrower shall procure that each Owner shall enter into a second priority Earnings Assignment in favour of the Security Trustee in respect of the Earnings relating to its Ship and such assignment shall thereafter constitute an “Earnings Assignment” for the purpose of this Agreement.
Assignment of Earnings. (a) The Assignor, as legal and beneficial owner, hereby pledges, assigns, transfers and sets over unto the Collateral Agent for the benefit of the Secured Creditors and their successors and assigns, and hereby grants the Collateral Agent a continuing possessory lien and first priority security interest in, all of its right, title and interest in and to the following, whether (i) the Earnings (as defined below) of the Collateral Vessels from any source, (ii) all monies or other compensation payable by reason of requisition of title or for hire or other compulsory acquisition of the Collateral Vessels, (iii) the Concentration Account, together with all of the Assignor's right, title and interest in and to all sums of property (including cash equivalents and other investments) now or at any time hereafter on deposit therein, credited thereto or payable thereon, and all instruments, documents and other writings evidencing the Concentration Account, and (iv) all proceeds and products of any and all of the foregoing. (b) For the purpose of this Section 2, "Earnings" shall mean:
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!