Persons entitled
- Christiania Bank Og Kreditkasse Asa
Amount secured
The aggregate principal amount of a loan in an initial amount of eighty five million united states dollars (USD85,000,000) (the "loan") made available to safe offshore asa (the "borrowers") by the chargee and/or its assignees (the "banks") pursuant to a loan agreement dated 4 april 1997 (the "loan agreement") made between (1) the borrowers and (2) the chargee as agent for the banks for the purpose of part financing the purchase of the flotels known as s/s "safe britannia", s/s "safe caledonia" and s/s "safe lancia" (collectively the "flotels"), by way of the borrowers making such loan available to safe rigs as, (such loan being documented by a seperate loan agreement (the "subsidiary loan agreement") together with all unpaid interest, default interest charges, expenses and any derived liabilities whatsoever in connection therewith
Short particulars
All of the company's rights to the earnings namely all the earnings including but not limited to all charter hire pool income and other earnings and monies due from or in respect of the flotels and the operation thereof and other accounts receivable by the company from or in respect of the flotels.