FORM OF PRIMARY ASSIGNMENT OF INSURANCES [VESSEL NAME] Official Number [NUMBER]Primary Assignment of Insurances • June 20th, 2003 • General Maritime Corp/ • Deep sea foreign transportation of freight
[SHIPOWNER NAME], a [PLACE OF FORMATION] limited liability company (the "Assignor"), in consideration of the Primary Secured Creditors referred to below entering into the transactions described in the Credit Agreement (as defined below), and for One Dollar ($1) lawful money of the United States of America, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, as sole owner of the [COUNTRY FLAG] flag vessel [VESSEL NAME], Official Number [NUMBER] (the "Vessel"), has sold, assigned, transferred and set over, and by this instrument does sell, assign, transfer and set over, unto JPMORGAN CHASE BANK, a banking association organized and existing under the laws of the State of New York as Collateral Agent (hereinafter called the "Assignee"), and unto the Assignee's successors and assigns, as such to it and its successors' and assigns' own proper use and benefit, and does hereby grant to the Assignee a first priority security interest in, all
