Facility Secured on a 1st Priority Basis Clause Samples

Facility Secured on a 1st Priority Basis. Guarantee Facility Agreement Document Date Parties Purpose 1st Priority Mortgage 7/10/13 UP Offshore Brazil DVB Bank SE To mortgage the UP RUBI to secure the Guarantee Facility Agreement 1st Priority Pledge of Contract Rights and Other Covenants (equivalent of a charter assignment) 7/10/13 UP Offshore Brazil DVB Bank SE To assign UP Offshore Brazil's rights under the Time Charter dated 10/8/08 with Petrobras to secure the Guarantee Facility Agreement 1st Priority Earnings Fiduciary Assignment 7/10/13 UP Offshore Brazil DVB Bank SE To assign UP Offshore Brazil's rights to the Earnings and Requisition Compensation of the Ship to secure the Guarantee Facility Agreement 1st Priority Insurances Fiduciary Assignment 7/10/13 UP Offshore Brazil DVB Bank SE To assign UP Offshore Brazil's rights to the Insurances of UP RUBI to secure the Guarantee Facility Agreement 1st Priority Bank Account Pledge 7/10/13 UP Offshore Brazil DVB Bank SE To pledge the earnings account at Bradeso SA – Mellon to secure the Guarantee Facility Agreement Ship: UP TURQUOISE Flag: Panama REB: No Owner: Glasgow Shipping Inc. ("Glasgow") Facility Secured on a 1st Priority Basis: UP Offshore Bahamas $40 Million Facility Agreement Document Date Parties Purpose 1st Priority Mortgage 12/20/10 Glasgow DVB Bank America N.V. To mortgage the UP TURQUOISE to secure the UP Offshore Bahamas $40 Million Facility Agreement Document Date Parties Purpose 1st Priority Bareboat Charter Assignment 12/15/10 Glasgow DVB Bank America N.V. To assign Glasgow's rights under the Bareboat Charter dated 11/24/10 with UP UK to secure the UP Offshore Bahamas $40 Million Facility Agreement 1st Priority Time Charter Assignment 12/20/10 UP UK DVB Bank America N.V. To assign UP UK's rights under the Time Charter dated 10/26/10 with Petrobras to secure the UP Offshore Bahamas $40 Million Facility Agreement 1st Priority Earnings Assignment 12/15/10 Glasgow DVB Bank America N.V. To assign Glasgow's rights to the Earnings and Requisition Compensation of the UP TURQUOISE to secure the UP Offshore Bahamas $40 Million Facility Agreement 1st Priority Insurances Assignment 12/15/10 Glasgow UP UK DVB Bank America N.V. To assign Glasgow's and UP UK's rights to the Insurances of UP TURQUOISE to secure the UP Offshore Bahamas $40 Million Facility Agreement Ship: UP JASPER Flag: Panama REB: No Owner: ▇▇▇▇▇ Shipping Inc. ("▇▇▇▇▇") Facility Secured on a 1st Priority Basis: Ingatestone Facility Agreement Document Date Parties Purpose 1st Pri...