Persons entitled
- Svenska Skeppshypotekskassan
Brief description
Assigned property means, in relation to a vessel, all of the owner's present and future rights, title and interest in, to and under the earnings, the charter rights, the insurances and all requisition compensation of that vessel (and references to the assigned property shall mean any or all of the constituent parts of it, as the context may require).. Earnings means, in relation to a vessel:. (A) all moneys whatsoever (and all claims for such moneys), present and future, which are earned or recoverable by, or become payable to or for the account of, the owner or any other relevant person arising (whether in contract, tort or otherwise howsoever), directly or indirectly, out of the ownership, use or operation of that vessel, including (but not limited to) all freight, hire and passage moneys, compensation payable in the event of requisition of that vessel for hire, remuneration for salvage and towage services, demurrage and detention moneys, contributions in general average, damages for breach (or payments for variation or termination) of any charterparty or other contract for employment of that vessel, together with the benefit of any guarantee, indemnity or other security which may at any time be given as security for the payment of such moneys; and. (B) if and whenever that vessel is employed on terms under which any moneys falling within paragraph (a) are pooled or shared with any other person, that proportion of the net receipts of the relevant pooling or sharing arrangement which is attributable to that vessel.. Charter rights means, in relation to a vessel, all rights and benefits accruing to the owner as owner of that vessel under or arising out of any long term charter in respect of that vessel and which do not form part of the earnings.. Insurances means, in relation to a vessel, all policies and contracts of insurance (including all entries of that vessel in a protection and indemnity association and a war risks association) which are from time to time taken out or entered into in respect of that vessel or otherwise howsoever (as specified in greater detail in the finance documents) and all benefits of such policies and contracts, including all claims of whatsoever nature and return of premiums.. Requisition compensation means, in relation to a vessel, all moneys or other compensation payable by reason of requisition for the compulsory acquisition of that vessel.
Contains negative pledge.