Earnings Assignments definition

Earnings Assignments means, collectively, each of the first priority collateral assignments of earnings entered into by each Subsidiary Guarantor in favor of the Collateral Agent in respect of a Mortgaged Vessel, each in substantially the form of Exhibit H or otherwise reasonably satisfactory to the Administrative Agent.

Earnings Assignments means the assignment in respect of the earnings of each Vessel from any and all sources (including requisition compensation), executed by the relevant Subsidiary Guarantor in favor of the Security Trustee pursuant to Section 4.1(k), substantially in the form set out in Exhibit D;

Earnings Assignments means the two (2) valid and effective first legal assignments of the Earnings of the Vessels (together with the notices thereof and the acknowledgements) one (1) to be executed by each of the Owners in respect of its Vessel in favour of the Agent such assignments, notices and acknowledgements to be in the form and on the terms and conditions agreed between the Lenders and the Borrower and as specified in paragraph 24.9 of Part I of Schedule 3;

Examples of Earnings Assignments in a sentence

• In the event a contract has been issued, failure of the CONTRACTOR to comply with all federal and state reporting requirements for child support enforcement or to comply with all lawfully served Wage and Earnings Assignments Orders and Notices of Assignment shall constitute a material breach of Agreement.

• Failure of Seller and/or any of its subcontractor(s) to fully comply with all applicable reporting requirements or to implement lawfully served Wage and Earnings Assignments or Notices of Assignment or failure of the principal owner(s) to comply with any Wage and Earnings Assignments or Notices of Assignment applicable to them personally shall constitute a Default under this Agreement.

• Provided no Event of Default has occurred (following which the Agent shall (inter alia) be entitled to request the Owners to give notice pursuant to clause 4 of the Earnings Assignments and apply the Earnings in accordance with Clause 13.2) the Earnings shall throughout the Security Period be at the free disposal of the Owners.

• Failure of the Contractor(s) and/or any Subcontractor(s) to fully comply with all applicable reporting requirements or to implement lawfully served Wage and Earnings Assignments or Notices of Assignment or failure of the principal owner(s) to comply with any Wage and Earnings Assignments or Notices of Assignment applicable to them personally shall constitute a default under the contract.

• Failure of a contractor or subcontractor to comply with all applicable reporting requirements or to implement lawfully served Wage and Earnings Assignments or Notices of Assignment or failure of the principal owner(s) to comply with any Wage and Earnings Assignments or Notices of Assignment applicable to them personally shall constitute a default under the contract.

More Definitions of Earnings Assignments

Earnings Assignments means, collectively, the assignments of Earnings in favor of the Collateral Agent given by the Collateral Grantors in respect of all Earnings derived from a Collateral Vessel and its operations, as the same may be amended, restated, supplemented or modified from time to time.

Earnings Assignments means the assignments in respect of the earnings of each Vessel from any and all sources, including, but not limited to, the respective Charter relating to such Vessel, to be executed by the relevant Borrower in favor of the Security Trustee pursuant to Clause 4.1(c)(iv) hereof, substantially in the form of Exhibit D hereto;

Earnings Assignments means the three (3) valid and effective first legal assignments of the Earnings of the Vessels (together with the notices thereof and the acknowledgements) one (1) to be executed by each of the Owners in respect of its Vessel in favour of the Agent such assignments, notices and acknowledgements to be in the form and on the terms and conditions agreed between the Lenders and the Borrower and as specified in paragraph 25 of Schedule 3;

Earnings Assignments assignments of the earnings of the Mortgaged Vessels executed or to be executed by the appropriate Shipowning Guarantor or OMI Challenger Transport, in favor of the Agent pursuant to, in the case of Existing Guarantors, the Original Credit Agreement as amended and restated

Earnings Assignments means, collectively, the assignments of Earnings in favor of the First Lien Collateral Agent given by the Collateral Grantors in respect of all Earnings derived from a Collateral Vessel and its operations, as the same may be amended, restated, supplemented or modified from time to time.

Earnings Assignments means assignments in respect of the earnings of each Unit from any and all sources to be executed by the relevant Guarantor in favor of the Security Trustee pursuant to Section 4.1(d) substantially in the form set out in Exhibit 4;

Earnings Assignments means the assignments in respect of the earnings and the requisition compensation of the Relevant Vessels, except for such Vessels employed with Pemex, from any and all sources, to be executed by the relevant Obligor in favor of the Collateral Agent, substantially in the form set out in Exhibit D;