Common use of Charter Assignment Clause in Contracts

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. If a Borrower an Owner 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 Existing Charter), or is capable of exceeding 12 months in duration, in respect of the Ship owned by it, that Borrower Owner 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 Owner 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 shall use its best endeavours to 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. If a the 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 the Existing Charter), or is capable of exceeding 12 months in duration, in respect of the Ship owned by itShip, that the 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 the 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 shall use its best endeavours to 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.