New General Assignment definition

New General Assignment means, in relation to a New Ship, a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect of that New Ship executed or to be executed by New Owner which is the owner thereof in favour of the Security Trustee in such form as the Lenders may approve or require and, in the plural, means both of them;

New General Assignment means a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect of “AMOUREUX” executed or to be executed by Amoureux Carriers in favour of the Security Trustee in such form as the Lenders may approve or require;

New General Assignment means, in relation to a New Ship, the general assignment creating Security over that New Ship’s Earnings, its Insurances and any Requisition Compensation in relation to that New Ship, in agreed form.

Examples of New General Assignment in a sentence

• The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period (and subject only to the provisions of the General Assignment and the applicable New General Assignment), all the Earnings of the Ship are paid to the Earnings Account or, as the case may be, the Additional Earnings Account if the currency of the payments is Euro, and all the Earnings of each New Ship are paid to the New Earnings Accounts relative thereto.

• New General Assignment means the general assignment in relation to the New Ship executed by the New Borrower in favour of the Security Agent in the agreed form.New Manager’s Undertakings means undertakings in respect of the New Ship which are to be granted by each Approved Manager (as defined in the Facilities Agreement) of the New Ship in favour of the Security Agent in the agreed form.

More Definitions of New General Assignment

New General Assignment means the general assignment in respect of the Ship executed or (as the context may require) to be executed by the New Borrower in favour of Security Agent in such form as the Agent (acting on the instructions of the Majority Banks in their sole discretion) may require;

New General Assignment means a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect of “EL PIPILA” executed or to be executed by Xxxxxxxx in favour of the Security Trustee in such form as the Lenders may approve or require;

New General Assignment means, in relation to a New Ship, a general assignment of its Earnings, Insurances and Requisition Compensation in the Agreed Form and “New General Assignments” means all of them collectively;

New General Assignment means a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect of “AXXXXX XX” executed or to be executed by the New Owner in favour of the Security Trustee in such form as the Lenders may approve or require;

New General Assignment means, relation to “DELRAY”, a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect thereof executed or to be executed by the New Owner in favour of the Bank in such form as the Bank may approve or require;

New General Assignment means a first priority general assignment of the Earnings, the Insurances and any Requisition Compensation in respect of the New Vessel executed or to be executed by Chilali in favour of the Security Trustee, in such form as the Agent and the Majority Lenders may in their sole discretion require;

New General Assignment means, in relation to each Transfer Ship, a deed to be executed by the Owner of that Transfer Ship in favour of the Security Trustee creating security in respect of the Earnings, the Insurances and any Requisition Compensation relating to that Transfer Ship and any charter in excess of 24 months in relation to that Transfer Ship and any guarantee of such charter in the Agreed Form;