Second General Assignment definition

Second General Assignment means, in relation to a Vessel, the second priority general assignment creating Security over that Vessel’s Earnings, its Insurances and any Requisition Compensation in relation to that Vessel in agreed form.
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Second General Assignment means in relation to the Vessel the second priority Deed of Assignment of the Earnings, Insurances and Requisition Compensation (as such terms are therein defined) including a second priority specific assignment of the time-charter of the Vessel dated 16th January, 2004 (as amended) made between the Corporation, as owner, and Cosco Container Lines Co. Ltd., as charterers, to be executed by the Borrower in favour of the Bank, in form and substance as the Bank shall reasonably require;
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Second General Assignment means the second priority deed of assignment dated 23 October 2012 made between the Guarantor and the Second Mortgagee collateral to the Second Mortgage whereby the Guarantor has assigned to the Second Mortgagee the Insurances, any Requisition Compensation and the Earnings (as defined therein);
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Examples of Second General Assignment in a sentence

  • By way of security for payment of the Outstanding Indebtedness the Owner with full title guarantee (but subject to the First General Assignment and subject to the Second General Assignment) hereby assigns and agrees to assign to the Mortgagee absolutely all its rights title and interest in and to the Assigned Property and all its benefits and interests present and future therein.


More Definitions of Second General Assignment

Second General Assignment means the second priority general assignment dated 23 October 2012 made between the Owner and the Second Mortgagee whereby the Owner has assigned to the Second Mortgagee the Insurances, any Requisition Compensation and the Earnings (as each such term is defined therein);
Sample 1

Related to Second General Assignment

  • General Assignment means, in relation to a Ship, a general assignment of the Earnings, the Insurances and any Requisition Compensation in the Agreed Form;

  • Collateral Assignment means, with respect to any Contracts, the original instrument of collateral assignment of such Contracts by the Company, as Seller, to the Collateral Agent, substantially in the form included in Exhibit A hereto.

  • First Assignment means: the relevant Assignment; orif, prior to the relevant Assignment:

  • Charter Assignment means a specific assignment of each Charter and each Extended Employment Contract required to be executed hereunder by the Borrower which is party thereto in favour of the Security Trustee (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Agent and the Majority Lenders may require in their sole discretion;

  • IP Assignment Agreement has the meaning set forth in Section 3.2(a)(iii).

  • term assignment means, in relation to an employee, i. a term assignment within the meaning of the local collective agreement, or ii. where no such definition exists, a term assignment will be defined as twelve (12) days of continuous employment in one assignment

  • Assignment of Contracts shall have the meaning provided in Section 5.07.

  • Assignment of Leases With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar agreement executed by the Mortgagor, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered, as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

  • Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent and the Hermes Agent and agreed on the signing hereof and as specified in paragraph 42 of Schedule 4;

  • Trademark Assignment Agreement has the meaning set forth in Section 2.01.

  • Form of Assignment and Transfer means the “Form of Assignment and Transfer” attached as Attachment 3 to the Form of Note attached hereto as Exhibit A.