Persons entitled
- Eurobank S.A.
Brief description
Assigned property means all of the owner's present and future rights, title and interest in, to and under the earnings, the insurances and all requisition compensation of the 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:. (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 borrower or any other relevant person arising (whether in contract, tort or otherwise howsoever), directly or indirectly, out of the ownership, use or operation of the vessel, including (but not limited to) all freight, hire and passage moneys, compensation payable in the event of requisition of the 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 the vessel, and all moneys (other than in respect of insurances or requisition compensation) arising from a total loss of the 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;. (B) all moneys which are at any time payable under the insurances of the vessel in respect of loss of earnings; and. (C) if and whenever the vessel is employed on terms under which any moneys falling within paragraphs (a) or (b) 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 vessel.. Insurances means all policies and contracts of insurance (including all entries of the 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 the 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 all moneys or other compensation payable by reason of requisition for the compulsory acquisition of the vessel.
Contains negative pledge.