Charter Assignment Sample Clauses
Charter Assignment. If a Borrower enters into any bareboat or demise charter or any other charter which is of 12 months or more in duration (including, without limitation, any Additional Charter), or is capable of exceeding 12 months in duration, in respect of the Ship owned by it, that Borrower shall, promptly on entering into the same (i) execute in favour of the Security Trustee an assignment of such charter (which shall include, without limitation, the service of a notice of assignment on the relevant charterer, and that Borrower shall use its best endeavours to procure an acknowledgement of such notice from that charterer) and (ii) in the case that such charter is a demise or bareboat charter, execute, and procure the execution by the charterer of, a tripartite deed in relation thereto, each in such form and on such terms as the Security Trustee may require, and shall deliver to the Agent such other documents as the Agent may require.
Charter Assignment procure that the relevant Owner executes and delivers to the Agent a Charter Assignment relating to any Mortgaged Ship which is the subject of a Charter;
Charter Assignment. Provided that all approvals necessary under Clause 24.15 (Restrictions on chartering, appointment of managers etc.) have been previously obtained, each Borrower shall:
(a) provide promptly to the Facility Agent a true and complete copy of any Charter exceeding 6 months (including all amendments) and all other documents related thereto for a term which exceeds 13 months (including any optional extensions and any redelivery allowance); and
(b) in respect of any Charter for a term which exceeds 13 months (including any optional extensions and any redelivery allowance) (other than in the case of an Approved Charter), execute and deliver to the Facility Agent a Charter Assignment together with each of the documents required to be delivered pursuant to such Charter Assignment (each in the agreed form).
Charter Assignment. The Borrower shall ensure that if any Owner enters into a time or bareboat charter in respect of its Ship which is of 6 or more months in duration, or is capable of exceeding 6 months in duration, such Owner shall at the request of the Agent, execute in favour of the Security Trustee a first priority assignment of such charter in such form and on such terms as the Lenders may require, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Part A of Schedule 3 hereof.
Charter Assignment. If a Borrower enters into any charter or contract of affreightment in respect of the Ship owned by it which is of 12 months or more in duration, or is capable of exceeding 12 months in duration, that Borrower shall, at the request of the Agent, execute in favour of the Security Trustee an assignment and notice of assignment of such charter and (in the case of bareboat charter) a tripartite deed made with the charterer each in such form and on such terms as the Lenders may require, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4, 5 and 6 of Part A of Schedule 4 hereof as the Agent may require.
Charter Assignment. A Borrower shall, in the case it enters into a Charter, at the request of the Agent, execute in favour of the Security Trustee a Charter Assignment in respect of that Charter and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Part A of Schedule 4 hereof.
Charter Assignment. Each Guarantor who enters into a Charter for its Ship shall execute and deliver a Charter Assignment provided that a Charter Assignment shall not be required under this Agreement unless the Borrower, using reasonable commercial efforts, is able to obtain the consent of the charterer named in the relevant Charter to such Charter Assignment.
Charter Assignment serve on the relevant charterers notices of assignment pursuant to the Charter Assignments and thereafter use all commercially reasonable efforts to obtain and deliver to the Lender acknowledgements of those notices duly signed by the relevant charterer (provided that any failure to procure the same shall not constitute and Event of Default);
Charter Assignment. If the Borrower enters into an Approved Charter, the Borrower shall, at the request of the Lender, execute in favour of the Lender an Approved Charterparty Assignment and shall:
(a) serve notice of the Approved Charterparty Assignment on the charterer and procure that the charterer acknowledges such notice in such form as the Lender may approve or require; and
(b) deliver to the Lender such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Schedule 2, Part A as the Lender may require.
Charter Assignment. Subject to Clause 25.15 (Restrictions on chartering, appointment of managers etc.), if a Borrower enters into an Approved Charter in respect of its Ship at any time during the Security Period, it shall provide the Facility Agent with a certified copy of that Approved Charter and any supporting guarantee and, upon the same being entered into, that Borrower shall enter into an Approved Charter Assignment in favour of the Security Agent in respect of such Approved Charter and any charter guarantee and such assignment shall thereafter constitute an “Approved Charter Assignment” for the purpose of this Agreement.