Insurance Assignments definition

Insurance Assignments means each of the first priority assignments of insurance made or to be made by (a) a Subsidiary Guarantor in favor of the Collateral Agent in respect of a Mortgaged Vessel and (b) the Company in favor of the Collateral Agent in respect of all of the Mortgaged Vessels, in each case substantially in the form of Exhibit I or otherwise reasonably satisfactory to the Administrative Agent.

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Insurance Assignments means each of the first priority assignments of insurance made or to be made by (a) a Subsidiary Guarantor in favor of the Collateral Agent in respect of a Mortgaged Vessel and (b) the Borrower in favor of the Collateral Agent in respect of all of the Mortgaged Vessels, in each case substantially in the form of Exhibit I or otherwise reasonably satisfactory to the Administrative Agent.

Insurance Assignments means the two (2) valid and effective first legal assignments of the Insurances of the Vessels (together with the notices thereof) one (1) to be executed by each of the Owners in respect of its Vessel in favour of the Lenders and/or the Agent such assignments and notices to be in the form and on the terms and conditions agreed between the Lenders and the Borrower and as specified in paragraph 24.10 of Part I of Schedule 3;

Examples of Insurance Assignments in a sentence

All right, title, and interest in, to and under the Life Insurance will, on execution of the Life Insurance Assignments by K&B, become a part of the Loan Collateral as security for the Obligations.
The Life Insurance Assignments in favor of Lender will be prior to all other assignments or other Liens except to the extent of any Policy Loans (as defined below).
No opinion is expressed in this paragraph as to the attachment, perfection or priority of any liens granted pursuant to the Life Insurance Assignments.
The Borrower and the Guarantors each hereby warrant and represent to the Lender that each and all of the representations and warranties set forth and contained in the Credit Agreement, the Guaranty, the First Life Insurance Assignment, the Second Life Insurance Assignment, the Third Life Insurance Assignment, the Guarantor Life Insurance Assignments, and the documents and agreements related hereto or thereto are true, correct and complete in all respects as of the date hereof.
The execution, delivery and performance by each of the Company and the Guarantors of the Amendment Documents (including the Life Insurance Assignments, when executed and delivered) to which it is a party have been duly authorized by all necessary corporate action on the part of each of the Company and the Guarantors.

More Definitions of Insurance Assignments

Insurance Assignments means, collectively, the assignments of insurance proceeds in favor of the Collateral Agent given by the Collateral Grantors respecting all hull and machinery and loss of hire insurance covering each Collateral Vessel or its operations, as the same may be amended, restated, supplemented or modified from time to time.

Insurance Assignments means, collectively, (i) the Existing Insurance Assignments and (ii) each of the first-priority assignments of insurances made or to be made by certain Borrowers and certain Philippine Charterers in favor of the Administrative Agent in respect of a Vessel and in form and substance reasonably satisfactory to the Administrative Agent.

Insurance Assignments means, collectively, the assignments of insurance proceeds in favor of the First Lien Collateral Agent given by the Collateral Grantors respecting all hull and machinery and loss of hire insurance covering each Collateral Vessel or its operations, as the same may be amended, restated, supplemented or modified from time to time.

Insurance Assignments means the first priority assignments in respect of the insurances over the Vessels to be executed by the relevant Borrower in favor of the Security Trustee pursuant to Section 4.1(j) substantially in the form set out in Exhibit F;

Insurance Assignments means the three (3) valid and effective first legal assignments of the Insurances of the Vessels (together with the notices thereof) one (1) to be executed by each of the Owners in respect of its Vessel in favour of the Agent such assignments and notices to be in the form and on the terms and conditions agreed between the Lenders and the Borrower and as specified in paragraph 26 of Schedule 3;

Insurance Assignments shall have the meaning provided in Section 5.01(n).