Common use of Consent to Pre-Delivery Security Assignment Clause in Contracts

Consent to Pre-Delivery Security Assignment. 2.1 The Charterer and Builder hereby consent to the assignment by the Buyer in favour of the Security Trustee of the Buyer’s rights under the Shipbuilding Contract and the Refund Guarantee pursuant to the Pre-Delivery Security Assignment. 2.2 Simultaneously with the execution of this Agreement, the Buyer and the Security Trustee shall enter into the Pre-Delivery Security Assignment and the Buyer shall sign and date and give notice of assignment to the Builder and the Charterer in the respective forms contained in [schedules/exhibits][Ÿ] and [Ÿ] to the Pre-Delivery Security Assignment, and the Builder and the Charterer shall sign and deliver to the Security Trustee their respective acknowledgements of such notices of assignment in the respective forms contained [schedules/exhibits] [Ÿ] and [Ÿ] to the Pre-Delivery Security Assignment. 2.3 If the security constituted by the Pre-Delivery Security Assignment is released and discharged, the Security Trustee shall promptly notify the other Parties in writing of such release and discharge and thereafter the Security Trustee shall have no further rights or obligations under this Agreement and all the references to the Security Trustee shall be disregarded.

Consent to Pre-Delivery Security Assignment. 2.1 The Charterer and Builder hereby consent to the assignment by the Buyer in favour of the Security Trustee of the Buyer’s rights under the Shipbuilding Contract and the Refund Guarantee pursuant to the Pre-Delivery Security Assignment. 2.2 Simultaneously with the execution of this Agreement, the Buyer and the Security Trustee shall enter into the Pre-Delivery Security Assignment and the Buyer shall sign and date and give notice of assignment to the Builder and the Charterer in the respective forms contained in [schedules/exhibits][Ÿexhibits][●] and [Ÿ●] to the Pre-Delivery Security Assignment, and the Builder and the Charterer shall sign and deliver to the Security Trustee their respective acknowledgements of such notices of assignment in the respective forms contained [schedules/exhibits] ][Ÿ●] and [Ÿ●] to the Pre-Delivery Security Assignment. 2.3 If the security constituted by the Pre-Delivery Security Assignment is released and discharged, the Security Trustee shall promptly notify the other Parties in writing of such release and discharge and thereafter the Security Trustee shall have no further rights or obligations under this Agreement and all the references to the Security Trustee shall be disregarded.

Consent to Pre-Delivery Security Assignment. 2.1 The Charterer and Builder hereby consent to the assignment by the Buyer in favour of the Security Trustee of the Buyer’s rights under the Shipbuilding Contract and the Refund Guarantee pursuant to the Pre-Delivery Security Assignment. 2.2 Simultaneously with the execution of this Agreement, the Buyer and the Security Trustee shall enter into the Pre-Delivery Security Assignment and the Buyer shall sign and date and give notice of assignment to the Builder and the Charterer in the respective forms contained in [schedules/exhibits][Ÿ] and [Ÿ] to the Pre-Delivery Security Assignment, and the Builder and the Charterer shall sign and deliver to the Security Trustee their respective acknowledgements of such notices of assignment in the respective forms contained [schedules/exhibits] [Ÿ[ •] and [Ÿ• ] to the Pre-Delivery Security Assignment. 2.3 If the security constituted by the Pre-Delivery Security Assignment is released and discharged, the Security Trustee shall promptly notify the other Parties in writing of such release and discharge and thereafter the Security Trustee shall have no further rights or obligations under this Agreement and all the references to the Security Trustee shall be disregarded.