Assignment of Insurances definition

Assignment of Insurances shall have the meaning provided in the definition of “Collateral and Guaranty Requirements”.

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Assignment of Insurances means a first priority assignment granted or to be granted by the Borrower in favour of the Security Agent (on behalf of the Finance Parties) of the Insurances relating to the Vessel, to be in form and substance acceptable to the Security Agent.

Assignment of Insurances means an assignment to be entered into between the Borrower, the Manager, if applicable, and the Finance Parties and to be in the agreed form.

Examples of Assignment of Insurances in a sentence

The Owner hereby covenants and undertakes with the Collateral Agent that it will procure that the interest of the Collateral Agent in the Insurances shall be endorsed on the instruments of insurance from time to time issued in connection with such of the Insurances as are placed with the Approved Brokers by means of a Notice of Assignment of Insurances (signed by the Owner and by any other assured who shall have assigned its interest in the insurances to the Collateral Agent).
Within thirty (30) days following the Closing Date, (i) a U.S. Ship Mortgage in favor of the Collateral Agent, (ii) a Certificate of Ownership evidencing the recording of the U.S. Ship Mortgage, (iii) a letter to the master of such vessel, enclosing a copy of the Mortgage, (iv) an Assignment of Earnings and Charterparties in favor of the Collateral Agent and (v) an Assignment of Insurances in favor of the Collateral Agent.
Within ninety (90) days following the Closing Date, (i) a Bahamian Statutory Mortgage in favor of the Collateral Agent, (ii) a transcript of register evidencing the recording of the Bahamian Statutory Mortgage, (iii) a Bahamian Deed of Covenants in favor of the Collateral Agent, (iv) a letter to the master of such vessel, enclosing a copy of the Mortgage, (v) an Assignment of Earnings and Charterparties in favor of the Collateral Agent and (vi) an Assignment of Insurances in favor of the Collateral Agent.
Each Domestic Subsidiary of the Issuer that becomes a party to a Vessel Mortgage, Assignment of Insurances and Assignment of Earnings after the date hereof shall become a Subordinated Guarantor for all purposes of this Guaranty upon execution and delivery to the Second-Lien Trustee by such Domestic Subsidiary of an Acknowledgment and Consent in the form of Exhibit A hereto.
Ltda., (ii) evidence from the Port Authority of Ecuador that the mortgage was so registered, (iii) a letter to the master of such vessel, enclosing a copy of the Mortgage, (iv) an Assignment of Earnings and Charterparties in favor of the Collateral Agent and (v) an Assignment of Insurances in favor of the Collateral Agent.

More Definitions of Assignment of Insurances

Assignment of Insurances means the Assignment of Onshore Insurance Policies dated on or about the date of this Agreement between the Company and the Security Agent.

Assignment of Insurances has the meaning given to it in the Common Terms Agreement.

Assignment of Insurances means assignment agreement, and sub assignment in respect of Seadrill Offshore AS, collateral to this Agreement for the first priority assignment of the Insurances to be made between the relevant Obligors and the Agent (on behalf of the Finance Parties) as security for the Obligors’ obligations under the Finance Documents, in form and substance satisfactory to the Finance Parties.

Assignment of Insurances means each assignment of insurances, in form and substance satisfactory to the Administrative Agent, executed and delivered by a Loan Party in favor of the Mortgage Trust and relating to insurances with respect to any Vessel, as such assignment may be amended, restated, supplemented or otherwise modified from time to time.

Assignment of Insurances means the first priority assignment of Insurances to be granted by the Charterers in favour of the Owners and/or the Mortgagee in respect of the Vessel’s Insurances in form and substance acceptable to the Charterers, the Owners and the Mortgagee;

Assignment of Insurances means the first priority assignment of insurances respecting the Pool Vessels granted by Borrower in favor of Collateral Agent in form and substance satisfactory to Collateral Agent.

Assignment of Insurances means an assignment agreement, (or, for companies in Norway (where direct assignment agreements are not permitted by law), sub-assignment agreements), collateral to this Agreement for the first priority assignment of the Insurances to be made between the relevant Obligors and the Agent (on behalf of the Finance Parties) as security for the Obligors’ obligations under the Finance Documents, in form and substance satisfactory to the Agent (on behalf of the Finance Parties).