Common use of Charterparty Assignment Clause in Contracts

Charterparty Assignment. If a Borrower enters into any Charterparty (subject to the Agent's approval pursuant to Clause 14.13), it shall, on the date of entry into such Charterparty, execute in favour of the Security Trustee (and register, if applicable) a Charterparty Assignment and shall: (a) serve notice of the Charterparty Assignment on the relevant charterer procure that the charterer acknowledges such notice in such form as the Agent may approve or require; and (b) deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Schedule 3, Part A as the Agent may require.

Charterparty Assignment. If a Borrower enters into any Charterparty Charter (subject to obtaining the Agent's approval pursuant to consent of the Agent in accordance with Clause 14.1314.13(b)), it shall, on that Borrower shall at the date request of entry into such Charterparty, the Agent execute in favour of the Security Trustee (and register, if applicable) a Charterparty Assignment and shall: (a) serve notice notices of the Charterparty Assignment on the relevant charterer Charterer and procure that the charterer Charterer acknowledges such notice in such form as the Agent may approve or require; and (b) deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Schedule 3, Part A as the Agent may require.

Charterparty Assignment. If a Borrower enters into any Charterparty Approved Charter (subject to obtaining the consent of the Agent in accordance with Clause 14.13(b)), that Borrower shall at the request of the Agent's approval pursuant to Clause 14.13), it shall, on the date of entry into such Charterparty, execute in favour of the Security Trustee (and register, if applicable) a Charterparty Assignment and shall: (a) serve notice of the Charterparty Assignment on the relevant charterer procure and make best effort so that the charterer acknowledges such notice in such form as the Agent may approve or require; and (b) deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Schedule 3, Part A as the Agent may require.