Persons entitled
- Allied Irish Bank
Amount secured
0
Short particulars
All monies. Assignment of earnings all of the right title and interest of the company in and to the earnings as defined in the mortgage to mean all monies whatsoever due or to become due to or for the account of the company at any time during the security period commencing on the date of execution of the mortgage and terminating upon dis- charge of the security created by the security documents by payment of all monies payable thereunder arising out of the use or operation of the ship includ- ing (but without prejudice to the gener- ality of the foregoing) all freight, hire and passage monies compensation payable to the owner or its agents in event of requisition of the ship for hire remuneration for salvage and tow- age services demurrage and dentention monies and any damages for breach (or payments for variation or termination) of any charter party or other contract for the employment of the ship. Note: the assignment contains a covenant by the company not without the prior consent in writing of the lender to assign pledge or otherwise discharge any of its right title or interest in the earnings to anyone other than the bank.