Persons entitled
- Piraeus Bank S.A.
Brief description
“Assigned property” means:. (A) the earnings;. (B) the insurances; and. (C) any requisition compensation;. “Earnings” means all moneys whatsoever from time to time due or payable to the owner during the facility period arising out of the use or operation of the ship including (but without limiting the generality of the foregoing) all freight, hire and passage moneys, income arising under pooling arrangements, compensation payable to the owner in event of requisition of the ship for hire, remuneration for salvage and towage services, demurrage and detention moneys and damages for breach (or payments for variation or termination) of any charterparty or other contract (including any contract of affreightment) for the employment of the ship (including any proceeds under any loss of hire insurance);. “Insurances” means all policies and contracts of insurance (which expression includes all entries of the ship in a protection and indemnity or war risks association) which are from time to time during the facility period in place or taken out or entered into by or for the benefit of the owner (whether in the sole name of the owner, or in the joint names of the owner and the mortgagee or otherwise) in respect of the ship or otherwise howsoever in connection with the ship and all benefits thereof (including claims of whatsoever nature and return of premiums);. “Requisition compensation” means all moneys or other compensation from time to time payable during the facility period by reason of compulsory acquisition of the ship;.