Persons entitled
- Nordic Trustee As
Brief description
Assigned property means all of the owner's present and future rights, title and interest in, to and under the charter rights, the earnings, the insurances and all requisition compensation of the rig (and references to the assigned property shall mean any or all of the constituent parts of it, as the context may require).. Charter rights means all rights and benefits accruing to the owner as owner of the rig under or arising out of any charter or charter guarantee and which do not form part of the earnings. Earnings" means all moneys whatsoever which are now, or later become, payable (actually or contingently) to the owner and which arise out of the use of or operation of the rig, including (but not limited to):. (A) all freight, hire and passage moneys payable to the owner, including (without limitation) payments of any nature under any charter or agreement for the employment, use, possession, management and/or operation of the rig (including, but not limited to any charter):. (B) any claim under any guarantees related to freight and hire payable to the owner as a consequence of the operation of the rig;. (C) compensation payable to the owner in the event of any requisition of the rig or for the use of the rig by any government authority or other competent authority;. (D) remuneration for salvage, towage and other services performed by the rig payable to the owner;. (E) demurrage, detention and retention money receivable by the owner in relation to the rig;. (F) all moneys which are at any time payable to the owner under the insurances in respect of loss of earnings;. (G) all present and future moneys and claims payable to the owner in respect of any breach or variation of any charterparty or contract of affreightment in respect of the rig;. (H) if and whenever the rig is employed on terms whereby any moneys falling within paragraphs (a) to (g) above 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 the rig; and. (I) any other money whatsoever due or to become due to the owner from third parties in relation to the rig, or otherwise,. Provided however that income related to service contracts which only fulfil a local requirement in certain jurisdictions and which generate immaterial net profits in the context of the bonds shall not be included.. Requisition compensation means all moneys or other compensation payable by reason of requisition for the compulsory acquisition of the rig.