Persons entitled
- Topaz Shipping Company Limited
Amount secured
All of the company's obligations (a) to the extent that any net sales proceeds and/or net total loss proceeds are received by the mortgagor (other than into the proceeds account) from a purchaser of the vessel and/or the insurers to pay the same (less the excluded sums) to the proceeds bank (as defined) with the instruction that the same be credited to the proceeds account ; (b) not to revoke the authority given to the chargee to instruct the proceeds bank to pay to the chargee the net sales proceeds and/or net total loss proceeds (including requisition compensation) less the excluded sums from the proceeds account; and (c) to pass title to the vessel in accordance with the provisions of the head charter when obliged to do so thereunder
Short particulars
All of the moretgagors rights title and interest present and future in the container ship "M.V. p&o nedlloyd marseille" official no 901565 (the vessel) and related insurances and requisition compensation please refer to form 395 for full details.