Common use of Assignments of Earnings, Insurances and Charter Clause in Contracts

Assignments of Earnings, Insurances and Charter. Each Credit Party which owns or operates a Vessel to which such Loan relates shall have duly authorized, executed and delivered an Assignment of Earnings, an Assignment of Insurances and an Assignment of Charters, together covering all of such Credit Party’s present and future Earnings and Insurance Collateral, in each case together with: (i) proper Financing Statements (Form UCC-1) fully executed for filing under the UCC or in other appropriate filing offices of each jurisdiction as may be necessary, or in the reasonable opinion of the Collateral Agent desirable, to perfect the security interests purported to be created by the Assignment of Earnings, Assignment of Charters and the Assignment of Insurances; (ii) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, listing all effective financing statements that name such Credit Party as debtor and that are filed in the jurisdictions referred to in Section 5.05(i) above, together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens unless in respect of which the Collateral Agent shall have received Form UCC-3 Termination Statements (or such other termination statements as shall be required by local law) fully executed for filing if required by applicable laws); and (iii) evidence that all other actions necessary, or in the reasonable opinion of the Collateral Agent desirable, to perfect and protect the security interests purported to be created by the Assignment of Earnings, the Assignment of Insurances and the Assignment of Charters have been taken.

Assignments of Earnings, Insurances and Charter. Each Credit Party which owns or operates a Existing Vessel to which such Loan relates shall have duly authorized, executed and delivered an Assignment of Earnings, an Assignment of Insurances and an Assignment of Charters, together covering all of such Credit Party’s present and future Earnings and Insurance Collateral, in each case together with: (i) proper Financing Statements (Form UCC-1) fully executed for filing under the UCC or in other appropriate filing offices of each jurisdiction as may be necessary, or in the reasonable opinion of the Collateral Agent desirable, to perfect the security interests purported to be created by the Assignment of Earnings, Assignment of Charters and the Assignment of Insurances; (ii) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, listing all effective financing statements that name such Credit Party as debtor and that are filed in the jurisdictions referred to in Section 5.05(i7.04(i) above, together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens unless in respect of which the Collateral Agent shall have received Form UCC-3 Termination Statements (or such other termination statements as shall be required by local law) fully executed for filing if required by applicable laws); and (iii) evidence that all other actions necessary, or in the reasonable opinion of the Collateral Agent desirable, to perfect and protect the security interests purported to be created by the Assignment of Earnings, the Assignment of Insurances and the Assignment of Charters have been taken.

Assignments of Earnings, Insurances and Charter. Each Credit Party which owns or operates a Vessel to which such Loan relates shall have duly authorized, executed and delivered an Assignment An assignment of Earnings, an Assignment of Insurances and an Assignment of Charters, together covering all of such the Credit PartyParty that owns or operates the relevant Additional Vessel’s present and future Earnings and Insurance CollateralCollateral duly authorized, executed and delivered and, in each case together with: (i) proper Financing Statements (Form UCC-1) fully executed authorized for filing under in the UCC or in other appropriate filing offices office of each jurisdiction as may be necessary, or in the reasonable opinion of the Collateral Agent Security Trustee desirable, to perfect the security interests purported to be created by the Assignment of Earnings, Assignment of Charters and the Assignment of Insurances; (ii) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, listing all effective financing statements that name such Credit Party as debtor and that are filed in the jurisdictions referred to in Section 5.05(i8.18(g)(i) above, together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens unless or in respect of which the Collateral Agent Security Trustee shall have received received, prior to or contemporaneously with the Borrowing Date, Form UCC-3 Termination Statements (or such other termination statements as shall be required by local law) fully executed authorized for filing if required by applicable lawsfiling); and (iii) evidence that all other actions necessary, or in the reasonable opinion of the Collateral Agent Security Trustee desirable, to perfect and protect the security interests purported to be created by the Assignment of Earnings, the Assignment of Insurances and the Assignment of Charters have been taken.

Assignments of Earnings, Insurances and Charter. Each Credit Party which owns or operates a an Initial Vessel to which such Loan relates shall have duly authorized, executed and delivered an Assignment of Earnings, an Assignment of Insurances and an Assignment of Charters, together covering all of such Credit Party’s present and future Earnings and Insurance Collateral, in each case together with: (i) proper Financing Statements (Form UCC-1) fully executed authorized for filing under in the UCC or in other appropriate filing offices office of each jurisdiction as may be necessary, or in the reasonable opinion of the Collateral Agent Security Trustee desirable, to perfect the security interests purported to be created by the Assignment of Earnings, Assignment of Charters and the Assignment of Insurances; (ii) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, listing all effective financing statements that name such Credit Party as debtor and that are filed in the jurisdictions referred to in Section 5.05(i) above, together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens unless or in respect of which the Collateral Agent Security Trustee shall have received received, prior to or contemporaneously with the initial Borrowing Date, Form UCC-3 Termination Statements (or such other termination statements as shall be required by local law) fully executed authorized for filing if required by applicable lawsfiling); and (iii) evidence that all other actions necessary, or in the reasonable opinion of the Collateral Agent Security Trustee desirable, to perfect and protect the security interests purported to be created by the Assignment of Earnings, the Assignment of Insurances and the Assignment of Charters have been taken.