EX-10.(A)(IV)(11) 29 c58427ex10-aiv11.txt ASSIGNMENT AND ASSUMPTION OF CONTRACT 1 10(a)(iv)(11) ASSIGNMENT AND ASSUMPTION OF CONTRACT This Assignment and Assumption of Contract is entered into as of the 25th day of September, 2000, by and between DELTA QUEEN COASTAL VOYAGES, L.L.C. (f/k/a Coastal Queen Holdings, L.L.C.), a Delaware limited liability company, ("Assignor") and CAPE MAY LIGHT, L.L.C. and CAPE COD LIGHT, L.L.C., Delaware limited liability companies (individually, "Assignee" and collectively, "Assignees"). WITNESSETH: WHEREAS, Assignor is the Owner under that certain Construction Contract for Coastal Queen Class Vessel ("Contract") dated as of May 1, 1999, as amended, by and between Assignor and Atlantic Marine, Inc., a Florida corporation, as Shipyard, for the construction of two Coastal Queen Class vessels. WHEREAS, Assignor desires to assign all of its right, title and interest in, to and under the Contract to: (i) Cape May Light, L.L.C., as Assignee, as to Hull No. 4242, known as cv Cape May Light; and (ii) Cape Cod Light, L.L.C., as Assignee, as to Hull No. 4243, known as cv Cape Cod Light; and Assignees desire to accept such assignment. NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for other good and adequate consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignees agree as follows: 1. Transfer of Interest. Assignor hereby sells, transfers, sets over and assigns to Cape May Light, L.L.C., as to Hull No. 4242, and to Cape Cod Light, L.L.C., as to Hull No. 4243, all of its right, title and interest in, to and under the Contract. 2. Acceptance. Assignees hereby accept said assignment, assume and agree to perform all of the undertakings, covenants and conditions of the Contract to be performed by Assignor thereunder and assume all of Assignor's obligations thereunder; provided, however that Assignor shall remain liable under the Contract. 3. Successors and Assigns. This instrument shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective heirs, personal representatives, successors and assigns. 1 2 IN WITNESS WHEREOF, the parties hereto have executed and delivered this instrument on the date and year first above written. ASSIGNOR ASSIGNEES: DELTA QUEEN COASTAL VOYAGES, CAPE MAY LIGHT, L.L.C., a Delaware L.L.C., a Delaware limited limited liability company liability company By: The Delta Queen Steamboat By: Delta Queen Coastal Voyages, Co., a Delaware corporation L.L.C., a Delaware limited and its Managing Member liability company and its Managing Member By: The Delta Queen Steamboat Co., a Delaware corporation By: /s/ Jordan B. Allen and its Managing Member ----------------------- Name: Jordan B. Allen Title: Executive Vice President By: /s/ Jordan B. Allen ----------------------- Name: Jordan B. Allen Title: Executive Vice President CAPE COD LIGHT, L.L.C., a Delaware limited liability company By: Delta Queen Coastal Voyages, a Delaware limited liability company and its Managing Member By: The Delta Queen Steamboat Co., a Delaware corporation and its Managing Member By: /s/ Jordan B. Allen ----------------------- Name: Jordan B. Allen Title: Executive Vice President 2