Common use of Second Priority Assignment Clause in Contracts

Second Priority Assignment. The Buyer shall execute and deliver to the Builder a second priority assignment of its interests in the earnings, insurances and requisition compensation of the Vessel in form and substance satisfactory to the Builder (the “Assignment”) as security for (i) the Buyer’s obligations under the Promissory Notes and (ii) the obligations of the Buyer under this Agreement. 4.5

Second Priority Assignment. The Buyer shall execute and deliver to the Builder a second priority assignment of its interests in the earnings, insurances and requisition compensation of the Vessel in form and substance satisfactory to the Builder (the “Assignment”) as security for (i) the Buyer’s obligations under the Promissory Notes and (ii) the obligations of the Buyer under this Agreement. 4.5.

Second Priority Assignment. The Buyer shall execute and deliver to the Builder a second priority assignment of its interests in the earnings, insurances and requisition compensation of the Vessel in form and substance satisfactory to the Builder (the “Assignment”) as security for (i1) the Buyer’s obligations under the Promissory Notes and (ii) the obligations of the Buyer under this Agreement. 4.53.5

Second Priority Assignment. The Buyer shall execute and deliver to the Builder a second priority assignment of its interests in the earnings, insurances and requisition compensation of the Vessel in form and substance satisfactory to the Builder (the “Assignment”) as security for (i) the Buyer’s obligations under the Promissory Notes and (ii) the obligations of the Buyer under this Agreement. 4.53.5