Mortgage and assignment. Charterers agree that Owners may grant to its financiers an assignment of this Charter and all the Owners’ rights, title, interest and benefits therein, including the right to receive Charter hire and other sums and may grant a mortgage and such other security documents as the financiers shall require. The Charterers agree to acknowledge and consent to be bond by notice of any assignment of this Charter executed by Owners.
Mortgage and assignment. By way of security for payment of the Outstanding Indebtedness, the Owner with full title guarantee hereby mortgages and charges to and in favour of the Mortgagee all its rights, title and interest present and future in and to the Mortgaged Property and, without prejudice to the generality of the foregoing, hereby assigns and agrees to assign to the Mortgagee absolutely all its rights, title and interest in and to the Earnings, the Insurances and any Requisition Compensation and all its benefits and interests present and future therein Provided however that:
Mortgage and assignment. By way of security for payment of the Outstanding Indebtedness the Owner with full title guarantee hereby mortgages and charges to and in favour of the Security Agent all its rights, title and interest present and future in and to the Mortgaged Property and, without prejudice to the generality of the foregoing, hereby assigns and agrees to assign to the Security Agent absolutely all its rights, title and interest in and to the Charter Earnings and any other Owner’s Earnings, any other Charter Rights, the Insurances and any Requisition Compensation, and all its benefits and interests present and future therein. Provided however that:
Mortgage and assignment. By way of security for the Owner’s obligations under the Continuing Shipowning Companies Guarantee to pay the Outstanding Indebtedness, the Owner as BENEFICIAL OWNER HEREBY MORTGAGES AND CHARGES with first priority to and in favour of the Mortgagee all its interest, rights and title, present and future, in and to the Mortgaged Premises and without prejudice to the generality of the foregoing the Owner hereby assigns and agrees to assign to the Mortgagee all its rights, title and interest in and to the Earnings, the Insurances and any Requisition Compensation and all its benefits and interests present and future therein PROVIDED HOWEVER THAT:
(i) any sums recoverable in respect of the Insurances shall (unless and until there shall happen any of the events specified in Clause 7 hereof whereupon all insurance recoveries shall be receivable by the Mortgagee in accordance with Clause 8.1 b) hereof) be payable as follows: there shall be paid to the Mortgagee any and every sum recoverable under the Insurances against fire and usual marine risks and war risks in respect of a Total Loss and any and every sum recoverable under such insurances in respect of a major casualty (that is to say any casualty in respect whereof the claim or the aggregate of the claims exceeds $1,000,000. inclusive of any deductible); all other sums recoverable in respect of the Insurances against fire and usual marine risks and war risks shall be paid to the Owner and shall be applied by it for the purpose of making good the loss and fully repairing all damage in respect whereof the insurance moneys shall have been received;
(ii) the Earnings shall be payable to such account of the Owner as the Mortgagee shall from time to time agree and shall be at the disposal of the Owner until such time as the Mortgagee shall direct to the contrary, whereupon the Owner shall forthwith, and the Mortgagee may at any time thereafter, instruct the persons from whom the Earnings are then payable to pay the same to the Mortgagee or as it may direct and any Earnings then in the hands of the Owner’s brokers or other agents shall be deemed to have been received by them for the use and on behalf of the Mortgagee;
(iii) upon payment and discharge in full to the satisfaction of the Mortgagee of the Outstanding Indebtedness the Mortgagee shall, at the request and cost of the Owner, release it from the guarantee regarding the Loan Agreement and reassign the Earnings, the Insurances and any Requisition Compensation to...
Mortgage and assignment. The Chargor, as beneficial owner, or in the case of the Mortgaged Shares only, as legal and beneficial owner, and as continuing security for the due and punctual payment and discharge of all Secured Liabilities, mortgages and agrees to mortgage in favour of the Counterparty by way of first mortgage, all the Share Collateral.”
Mortgage and assignment. By way of security for payment of the Outstanding Indebtedness the Owner with full title guarantee hereby mortgages and charges to and in favour of the Mortgagee all its rights, title and interest present and future in and to the Mortgaged Property and, without prejudice to the generality of the foregoing, hereby assigns and agrees to assign to the Mortgagee absolutely all its rights, title and interest in and to the Charter Earnings and any other Owner's Earnings, any other Charter Rights, the Insurances and any Requisition Compensation, and all its benefits and interests present and future therein. Provided however that:
Mortgage and assignment. By way of security for payment of the Outstanding Indebtedness, the Owner with full title guarantee hereby mortgages and charges to and in favour of the Mortgagee all its rights, title and interest present and future in and to the Mortgaged Property.
Mortgage and assignment. 3.1 In consideration of the obligations of the Mortgagee under the Loan Agreement and in order to secure to the Mortgagee the repayment of the Indebtedness and the due and faithful performance and observance of the mortgage covenants, and in consideration of the premises, the Owner hereby grants to the Mortgagee a First Priority Panamanian Naval Mortgage on the whole of the Vessel together with the right to register such First Priority Panamanian Naval Mortgage on the whole of the Vessel in the Mortgage Register of the competent Public Registry Office at the City of Panama directly and without participation by the Owners.
3.2 The Owner hereby assigns and agrees to assign to the Mortgagee:
3.2.1 all Earnings of the Vessel during the existence of this security;
3.2.2 all policies of Insurance, that have been, or may hereafter be taken out in respect of the Vessel, and all the benefits thereof, including claims of whatsoever nature, and return of premiums;
3.2.3 all compensation, or other moneys which may be payable as a result of the Vessel having been requisitioned for title, or in other way, compulsorily acquired.
3.3 The total amount secured by this Mortgage is SEVEN MILLION (US $ 7,000,000) plus interest, costs and other amounts constituting the Indebtedness.
3.4 The date of maturity of the Indebtedness secured by this Mortgage and of this Mortgage is the ....th June 2008 (being the Repayment Date of the final Repayment Instalment) or earlier in accordance with the terms of the Loan Agreement.
Mortgage and assignment. The Owners confirm that they are familiar with the terms of the assignment of insurances made or to be made by the Charterers in favour of the Mortgagee, and they agree to the terms thereof and will do nothing that conflicts therewith, excepting that the Owners shall be entitled to assign their rights, title and interest in and to this Charter to the Mortgagee or its assignee. Neither party shall assign its right or obligations or part of thereof to any third party without the written consent of the other. In respect of the Vessel the Owners undertake that the amount owed by them to the Mortgagee (or any replacement thereof) shall not exceed the Purchase Option Price at any relevant time as set out at the relevant milestone in Clause 49 hereof. The Owners have the right to register a first preferred mortgage on the Vessel in favour of the Mortgagee securing a loan under the Loan Agreement under standard mortgages and security documentation. In which case, the Owners undertake to procure from the Mortgagee a Letter of Quiet Enjoyment in a form and substance acceptable to the Charterers. The Charterers agree to sign an acknowledgement of the Owners’ charter hire assignment or any other comparable document reasonably required by the Mortgagee, in favour of the Mortgagee. During the course of the Charter the Owners have the right to register a substitute mortgage in favour of another bank provided such registration is effected in a similar amount to the loan amount outstanding with the Mortgagee at that time and only if such substitute mortgagee executes a Letter of Quiet Enjoyment in favour of the Charterers in the same form as that provided by the Mortgagee or the form acceptable for the Charterers. The Charterers will then agree to sign a charter hire assignment in favour of the substitute mortgage in a form as shall be agreed by the Charterers, which agreement shall not be unreasonably withheld. Any cost incurred by the Charterers shall be for Charterers’ account and Owners shall be for Owners’ account pursuant to this paragraph. Subject to the term and conditions of this Charter, the Charterers also agree that the Owners have the right to assign its rights, title and interest in and to the insurances by way of assignment of insurance in respect of the Vessel to and in favour of the Assignee in a form and substance acceptable to Charterers and the Assignee. Owners shall procure that any mortgage and charter hire assignment shall be subject to this Charter ...
Mortgage and assignment. By way of security for payment of the Outstanding Indebtedness the Owner with full title guarantee hereby mortgages and charges to and in favour of the Security Trustee (as security agent and trustee on behalf of the Finance Parties) all its rights, title and interest present an future in and to the Mortgaged Property and, without prejudice to the generality of the foregoing, hereby assigns and agrees to assign to the Security Trustee (as security agent and trustee on behalf of the Finance Parties) absolutely all its rights, title and interest in and to the Earnings, the Insurances and any Requisition Compensation, and all its benefits and interests present and future therein. Provided however that:
