Common use of Insurance assignment Clause in Contracts

Insurance assignment. 5.1 By way of security for the repayment of the aggregate of (a) the Loan and interest accrued and accruing thereon, (b) the Master Swap Agreement Liabilities (as such term is defined in the General Assignment), (c) the Expenses (as such term is defined in the General Assignment) and (d) all other sums of money from time to time owing by the Borrowers and/or the Owner to the Mortgagees or any of them, whether actually or contingently, under the Loan Agreement, the Master Swap Agreements, the Collateral Guarantee and the other Security Documents or any of them (the "Outstanding Indebtedness"), the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees all of the Managers rights, title and interest in and to all the benefit of the Insurances. 5.2 The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the Agent. 5.3 The Mortgagees shall, at the Manager's cost and request, re-assign to the Manager all the Manager's right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the Agent. 5.4 Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 above) be payable to the Manager shall be applied in accordance with clause 2.1 and/or clause 2.3

Insurance assignment. 5.1 By way of security for the repayment of the aggregate of (a) the Loan and interest accrued and accruing thereon, (b) the Master Swap Agreement Liabilities (as such term is defined in the [Deed of Covenant] [General Assignment)], (c) the Expenses (as such term is defined in the [Deed of Covenant] [General Assignment]) and (d) all other sums of money from time to time owing by the Borrowers and/or the Owner to the Mortgagees Security Agent and/or the Secured Creditors or any of them, whether actually or contingently, under the Loan Agreement, the Master Swap Agreements, the Collateral Guarantee Agreement and the other Security Documents (as such term is defined in the [Deed of Covenant] [General Assignment]) or any of them to which the Owner is or is to be a party (the "Outstanding IndebtednessOUTSTANDING INDEBTEDNESS"), the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees Security Agent all of the Managers Manager's rights, title and interest in and to all the benefit of the Insurances. 5.2 The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the Security Agent. 5.3 The Mortgagees Security Agent shall, at the Manager's cost and request, re-assign to the Manager all the Manager's right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the Security Agent. 5.4 Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 above) be payable to the Manager shall be applied in accordance with clause 2.1 [8.1 of the Deed of Covenant] [[__] of the General Assignment] and/or clause 2.3[8.4 of the Deed of Covenant] [[__] of the General Assignment].

Insurance assignment. 5.1 By way of security for the repayment aggregate of the aggregate of (a) the Loan Overdraft and interest accrued and accruing thereon, (b) the Master Swap Agreement Liabilities (as such term is defined in the General Assignment), (c) the Expenses (as such term is defined in the General Assignment) and (d) all other sums of money from time to time owing by the Borrowers and/or the Owner to the Mortgagees or any of themBank, whether actually or contingently, under the Loan Agreement, the Master Swap Agreements, the Collateral Guarantee and the other Security Documents or any of them to which the Owner is or is to be a party (the "Outstanding Indebtedness"), ) the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees Bank all of the Managers Manager's rights, title and interest in and to all the benefit of the Insurancesinsurances. 5.2 The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the AgentBank. 5.3 The Mortgagees Bank shall, at the Manager's cost and request, re-assign to the Manager all the Manager's right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the AgentBank. 5.4 Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 above) be payable to the Manager shall be applied in accordance with clause 2.1 and/or clause 2.32.3 of the General Assignment.

Insurance assignment. 5.1 By way of security for the repayment of the aggregate of (a) the Loan and interest accrued and accruing thereon, (b) the Master Swap Agreement Liabilities (as such term is defined in the General Assignment), (c) the Expenses (as such term is defined in the General Assignment) and (d) all other sums of money from time to time owing by the Borrowers and/or the Owner to the Mortgagees or any of them, whether actually or contingently, under the Loan Agreement, the Master Swap Agreements, the Collateral Guarantee and the other Security Documents or any of them (the "Outstanding Indebtedness"), the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees all of the Managers Manager's rights, title and interest in and to all the benefit of the Insurances. 5.2 The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the Agent. 5.3 The Mortgagees shall, at the Manager's cost and request, re-assign to the Manager all the Manager's right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the Agent. 5.4 Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 above) be payable to the Manager shall be applied in accordance with clause 2.1 and/or clause 2.32.3 of the General Assignment.

Insurance assignment. 5.1 By way of security for the repayment of the aggregate of (a) the Loan and interest accrued and accruing thereon, (b) the Master Swap Agreement Liabilities (as such term is defined in the general assignment dated [·] 2011 (the “General Assignment”) executed by the [Q Jake] [Q loanari] Borrower in favour of the Security Agent), (c) the Expenses (as such term is defined in the General Assignment) and (d) all other sums of money from time to time owing by to the Borrowers security Agent and/or the Owner to the Mortgagees Security Creditors or any of them, whether actually or contingently, contingently under the Loan Agreement, the Master Swap Agreements, the Collateral Guarantee Agreement and the other Security Documents or any of them (the "“Outstanding Indebtedness"”), the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees Security Agent all of the Managers Manager’s rights, title and interest in and to all the benefit of the Insurances. 5.2 5.1 The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the Security Agent. 5.3 5.2 The Mortgagees Security Agent shall, at the Manager's ’s cost and request, re-assign to the Manager all the Manager's ’s right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the Security Agent. 5.4 5.3 Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 above) be payable to the Manager shall be applied in accordance with clause 2.1 2.3 of the General Assignment and/or clause 2.32.6 of the General Assignment.

Insurance assignment. 5.1 (a) By way of security for the repayment of the aggregate of (a) the Loan and interest accrued and accruing thereon, the Expenses (bas such term is defined in the General Assignment) the Master Swap Agreement Liabilities (as such term is defined in the General Assignment), (c) the Expenses (as such term is defined in the General Assignment) and (d) all other sums of money from time to time owing by the Borrowers and/or the Owner Borrower to the Mortgagees or any of themBank, whether actually or contingently, under the Loan Agreement, Security Documents (as such term is defined in the General Assignment) the Master Swap Agreements, Agreement Liabilities (as such term is defined in the Collateral Guarantee and the other Security Documents General Assignment) or any of them to which the Borrower is or is to be a party (the "“Outstanding Indebtedness"), ”) the Manager with full title guarantee hereby irrevocably and unconditionally assigns and agrees to assign to the Mortgagees Bank all of the Managers Manager’s rights, title and interest in and to all and the benefit of the Insurances. 5.2 (b) The Manager hereby undertakes to procure that a duly completed notice in the form set out in Appendix 2 to this Letter letter is given to all insurers of the Ship and to procure that such notice is promptly endorsed on all policies and entries in respect of the Insurances and agrees promptly to authorise and/or instruct any broker, insurer or association with or through whom Insurances may be effected to endorse on any policy or entry or otherwise to give effect to such loss payable clause as may be stipulated by the AgentBank. 5.3 (c) The Mortgagees Bank shall, at the Manager's cost and request’s cost, re-assign to the Manager all the Manager's ’s right, title and interest in the Insurances upon the Outstanding Indebtedness being paid and discharged in full to the satisfaction of the AgentBank. 5.4 (d) Any moneys in respect of the Insurances which would (but for the assignment contained in clause 5.1 5(a) above) be payable to the Manager shall be applied in accordance with clause 2.1 and/or clause clauses 2.1.2, 2.3, 2.5 and 2.6 (as the case may be) of the General Assignment.