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.

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;

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.

Examples of Insurance Assignments in a sentence

• 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.

• On or before the Drawdown Date, the Borrower shall use its best efforts to arrange Charter Insurance for the Mortgaged Vessels on terms and through insurers acceptable to the Agent, and to provide Charter Insurance Assignments in respect thereof, duly executed by Navios Holdings.

• Security Documents - the Guaranty, Pledge Agreements, Intercompany Debt Assignments, Patent Assignments, Trademark Security Agreements, Insurance Assignments, Deposit Account Control Agreements, General Security Agreements, the Non-Recourse Guaranty, Deeds of Hypothec, and all other documents, instruments and agreements now or hereafter securing (or given with the intent to secure) any Obligations.

• Collectively, the Vessel Mortgages, the Security Agreements, the Insurance Assignments, the Agency Account Agreements, and the Pledge Agreements.

• The choice of New York law to govern the Purchase Agreement, the Registration Rights Agreement, the Indenture, the Escrow Agreement, the Collateral Agency Agreement, the Insurance Assignments and the Offered Securities constitutes a valid choice of law insofar as the law of Cyprus is concerned.

More Definitions of Insurance Assignments

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, with respect to any Mortgaged Vessel, the first-priority collateral assignments of insurance in favor of the Collateral Agent given by the applicable Loan Parties in respect of all insurance covering the Mortgaged Vessels or their respective operations, substantially in the form of Exhibit I hereto as the same may be amended, supplemented or modified from time to time.

Insurance Assignments means, collectively, (i) that certain Collateral Assignment of Buyer’s Representation and Warranty Insurance Policy as Collateral Security, dated as of the date hereof, by and among the Loan Parties party thereto, the Underwriting Representative (as defined therein) and the Administrative Agent and (ii) that certain Collateral Assignment of Rights Under Business Interruption Insurance Policy, dated as of the date hereof, by and among the Loan Parties party thereto, the Insurer (as defined therein) and the Administrative Agent.

Insurance Assignments means, collectively, the assignments of insurance proceeds in favor of the Collateral Agent given by the Issuer (or, if applicable, an Issuer Subsidiary Guarantor) respecting all hull and machinery and loss of hire insurance covering the Drilling Unit or its operations, as the same may be amended, restated, supplemented or modified from time to time, in each case substantially in the form attached as Annex C hereto.

Insurance Assignments means the first priority assignments in respect of the insurances over the First Vessel and the Second Vessel, to be executed by the relevant Guarantor in favor of the Security Trustee pursuant to Section 4.1(k) or Section 4.2(b), as the case may be, substantially in the form set out in Exhibit G-1 and G-2 respectively;