Common use of Owner’s Assignment Clause in Contracts

Owner’s Assignment. 12 5 Continuing security and other matters................................ 13 6 Charterer's undertakings..............................................16 7 Charter Guarantor's undertakings......................................17 8 Covenants concerning insurance and operational matters................22 9 Powers of Mortgagee to protect security and remedy defaults...........29 10 Powers of Mortgagee on Event of Default...............................29 11 Application of moneys.................................................30 12 Remedies cumulative and other provisions..............................31 13 Costs and indemnity...................................................32 14 Attorney..............................................................32 15 Further assurance.....................................................33 16 Consent, Termination of Charter and Quiet Enjoyment...................33 17 Continuation of Charter Period........................................35 18 Notices...............................................................35 19 Counterparts..........................................................36 20 Severability of provisions............................................36 21 Law and jurisdiction.................................................37 Schedule 1 Forms of Loss Payable Clauses......................................38 Schedule 2 Forms of Notices of Assignment of Insurances.......................39 THIS QUADRIPARTITE DEED is dated 15 March 2006 BETWEEN:

Owner’s Assignment. 12 5 Continuing security and other matters................................ 13 6 Charterer's undertakings..............................................16 7 Charter Guarantor's undertakings......................................17 8 Covenants concerning insurance and operational matters................22 9 Powers of Mortgagee to protect security and remedy defaults...........29 10 Powers of Mortgagee on Event of Default...............................29 11 Application of moneys.................................................30 12 Remedies cumulative and other provisions..............................31 13 Costs and indemnity...................................................32 14 Attorney..............................................................32 15 Further assurance.....................................................33 16 Consent, Termination of Charter and Quiet Enjoyment...................33 17 Continuation of Charter Period........................................35 18 Notices...............................................................35 19 Counterparts..........................................................36 20 Severability of provisions............................................36 21 Law and jurisdiction...................................................................................................37 Schedule 1 Forms of Loss Payable Clauses.........................................................................38 Schedule 2 Forms of Notices of Assignment of Insurances...........................................39 THIS SECOND PRIORITY QUADRIPARTITE DEED is dated 15 14 March 2006 BETWEEN:

Owner’s Assignment. 12 5 Continuing security and other matters................................ ...................................13 6 Charterer's undertakings..............................................................................................16 7 Charter Guarantor's undertakings..............................................................................17 8 Covenants concerning insurance and operational matters..................................22 9 Powers of Mortgagee to protect security and remedy defaults...........29 .............28 10 Powers of Mortgagee on Event of Default................................................................29 11 Application of moneys....................................................................................................30 12 Remedies cumulative and other provisions..............................................................31 13 Costs and indemnity........................................................................................................32 14 Attorney..............................................................................................................................32 15 Further assurance............................................................................................................33 16 Consent, Termination of Charter and Quiet Enjoyment........................................33 17 Continuation of Charter Period..................................................................................35 18 Notices................................................................................................................................35 19 Counterparts......................................................................................................................36 20 Severability of provisions..........................................................................................36 21 Law and jurisdiction.................................................37 ....................................................36 Schedule 1 Forms of Loss Payable Clauses......................................38 Schedule 2 Forms of Notices of Assignment of Insurances.......................39 THIS QUADRIPARTITE DEED is dated 15 March 2006 BETWEEN:

Owner’s Assignment. 12 5 Continuing security and other matters................................ .....................................13 6 Charterer's Charterers undertakings.................................................................................................16 7 Charter Guarantor's undertakings......................................17 ..........................................18 8 Covenants concerning insurance and operational matters....................................22 9 Powers of Mortgagee to protect security and remedy defaults..........................29 10 Powers of Mortgagee on Event of Default...............................29 ...................................30 11 Application of moneys......................................................................................................30 12 Remedies cumulative and other provisions..............................31 ..................................32 13 Costs and indemnity..........................................................................................................32 14 Attorney..............................................................32 ..................................................................33 15 Further assurance..............................................................................................................33 16 Consent, Termination of Charter and Quiet Enjoyment..........................................33 17 Continuation of Charter Period....................................................................................35 18 Notices...............................................................35 ...................................................................36 19 Counterparts........................................................................................................................36 20 Severability of provisions............................................36 ................................................37 21 Law and jurisdiction.......................................................................................................37 Schedule 1 Forms of Loss Payable Clauses......................................38 Schedule 2 Forms of Notices of Assignment of Insurances.......................39 THIS QUADRIPARTITE DEED is dated 15 March 16 June 2006 BETWEEN:

Owner’s Assignment. 12 5 Continuing security and other matters................................ ................................13 6 Charterer's undertakings...........................................................................................16 7 Charter Guarantor's undertakings......................................17 .....................................18 8 Covenants concerning insurance and operational matters...............................22 9 Powers of Mortgagee to protect security and remedy defaults.....................29 10 Powers of Mortgagee on Event of Default...............................29 ..............................30 11 Application of moneys.................................................................................................30 12 Remedies cumulative and other provisions..............................31 .............................32 13 Costs and indemnity.....................................................................................................32 14 Attorney..............................................................32 .............................................................33 15 Further assurance.........................................................................................................33 16 Consent, Termination of Charter and Quiet Enjoyment.....................................33 17 Continuation of Charter Period...............................................................................35 18 Notices...............................................................35 ..............................................................36 19 Counterparts...................................................................................................................36 20 Severability of provisions............................................36 ...........................................37 21 Law and jurisdiction.................................................37 Schedule 1 Forms of Loss Payable Clauses.........................................................................38 Schedule 2 Forms of Notices of Assignment of Insurances...........................................39 THIS QUADRIPARTITE DEED is dated 15 March 16 June 2006 BETWEEN: