Common use of ALL RISK HULL INSURANCE Clause in Contracts

ALL RISK HULL INSURANCE. During the relevant Term, Lessee shall maintain (or cause to be maintained) at no expense to Lessor the following insurance, on a worldwide basis with no territorial restrictions with insurers of recognized responsibility (A) all-risks (ground, taxing, flight and ingestion) hull insurance covering the In-Use Aircraft; and (B) all risks (including transit) Aviation Spare Parts (including Engine and Equipment) Insurance and (C) at all times that any In-Use Aircraft or any Serviced Engine is not covered by the insurance described in Section 9(c), coverage against the perils of (i) strikes, riots, civil commotions or labor disturbances, (ii) any vandalism, malicious act or act of sabotage, and (iii) hijacking, or any unlawful seizure or wrongful exercise of control of the In-Use Aircraft or crew in flight made by any person or persons on board the In-Use Aircraft without the consent of the insured other than hijacking committed by persons engaged in a program of irregular warfare for terrorist purposes, in each case to the extent insured by the standard "buy-back" provisions to the Airline War Exclusion Clause (AV48B) or its equivalent. Such insurance shall be for an Agreed Value basis which shall be in an amount not less than the Stipulated Loss Value. With the consent of Lessor, which will not be unreasonably withheld, Lessee may self-insure only by way of standard market deductibles, the risks required to be insured against pursuant to the preceding two sentences in such amounts as are acceptable to Lessor in its sole discretion. Any policies carried in accordance with this Section 9(b) covering the In-Use Aircraft and any policies taken out in substitution or replacement for any such policies shall (1) name Lessor as loss payee as its interests may appear; (2) provide that the entire amount of any loss shall be paid to Lessor or its order; (3) provide that if such insurance is canceled for any reason whatsoever, or any substantial change is made in policy terms, conditions or coverage, or the same is allowed to lapse for non-payment of premium, such cancellation, change or lapse shall not be effective as to Lessor until thirty days (seven days or such other period as may from time to time be customarily obtainable in the industry, in the case of war risk and allied perils coverage), after receipt by Lessor of written notice from such insurers of such cancellation or lapse or change in policy terms, conditions or coverage; (4) provide that losses shall be adjusted with Lessor; (5) provide that in respect of Lessor, such insurance shall not be invalidated by any action or inaction of Lessee or any other insured and shall insure such parties regardless of any breach contained in such policies by Lessee or any other insured; (6) be primary without right of contribution from any other insurance which is carried by Lessor with respect to its interest in the In-Use Aircraft; (7) waive any right of subrogation of the insurers against Lessor; (8) waive any right of the insurers to set-off or counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of Lessor or Lessee to the extent of any moneys due to Lessor; and (9) provide that Lessor shall have no obligation or liability for premiums, commissions, assessments or calls in connection with such insurance. If the insurance required to be carried pursuant to Sections 9(b) and 9(c) is effected under separate policies, the insurers shall agree that if a disagreement arises as to whether a claim is covered by the all-risk insurance or the war-risk insurance, the insurers will settle such claims on the basis of a 50-50 claim funding arrangement. In the case of the requisition for use of the In-Use Aircraft or any Serviced Engine by the Government, a valid agreement by the Government, satisfactory to Lessor, to indemnify Lessee against any of the risks which Lessee is required hereunder to insure against in an amount at least equal to the amount of insurance required to be maintained for the In-Use Aircraft under this Section 9 from time to time shall, to the extent such indemnity from the Government complies with the requirements set forth in Section 7(g) hereof, be considered adequate insurance to the extent of the risks and in the amounts that are the subject of any such agreement to indemnify.

ALL RISK HULL INSURANCE. During the relevant Termterm of this Agreement, Lessee Borrower shall maintain (or cause to be maintained) at no expense to Lessor Bank the following insurance, insurance on a worldwide basis (except for Iraq and Kuwait) with no territorial restrictions (other than territorial restrictions as may be applicable to Aviation Hull War Risks Coverage), with insurers of recognized responsibility through nationally recognized aviation insurance brokers (A) all-risks (ground, taxingtaxiing, flight and ingestion) hull insurance covering the In-Use Aircraft; and (B) all risks (including transit) Aviation Spare Parts (including Engine and Equipment) Insurance and (C) at all times that any In-Use Aircraft or any Serviced Engine is not covered by the insurance described in Section 9(c7.1(c), coverage against the perils of (i) strikes, riots, civil commotions or labor disturbances, (ii) any vandalism, malicious act or act of sabotage, and (iii) hijacking, or any unlawful seizure or wrongful exercise of control of the In-Use Aircraft or crew in flight made by any person or persons on board the In-Use such Aircraft without the consent of the insured other than hijacking committed by persons engaged in a program of irregular warfare for terrorist purposes, in each case to the extent insured by the standard "buy-back" provisions to the Common North American Airline War Exclusion Clause (AV48B) or its equivalentas currently available in the United States aviation insurance market. Such insurance shall be for an Agreed Value basis which shall be in an amount not less than the Stipulated Loss Valueunpaid principal balance of the Loan. With the consent of LessorBank, which will not be unreasonably withheld, Lessee Borrower may self-insure insure, only by way of standard market deductiblesdeductible, the risks required to be insured against pursuant to the preceding two sentences in such amounts as are reasonably acceptable to Lessor Bank. "Fleet Aggregate" deductions shall not be applicable in its sole discretionrespect of claims payable to Bank pursuant to the policies required to be carried pursuant to this Section 7.1(b). Any policies carried in accordance with this Section 9(b7.1(b) covering the In-Use Aircraft and any policies taken out in substitution or replacement for any such policies shall (1) name Lessor Bank as loss payee as its interests may appear; (2) provide that the entire amount of any loss shall be paid to Lessor or its orderBank; (3) provide that if such insurance is canceled cancelled for any reason whatsoever, or any substantial change is made in policy terms, conditions or coverage, or the same is allowed to lapse for non-payment of premium, such cancellation, change or lapse shall not be effective as to Lessor Bank until thirty days (seven days or such other period as may from time to time be customarily obtainable in the industry, in the case of war risk and allied perils coverage), after receipt by Lessor Bank of written notice from such insurers of such cancellation or lapse or change in policy terms, conditions or coverage; (4) provide that losses in excess of $500,000 shall be adjusted with LessorBank; (5) provide that in respect of LessorBank, such insurance shall not be invalidated by any action or inaction of Lessee Borrower or any other insured and shall insure such parties regardless of any breach contained in such policies by Lessee Borrower or any other insured; (6) be primary without right of contribution from any other insurance which is carried by Lessor with respect to its interest in the In-Use Aircraft; (7) waive any right of subrogation of the insurers against Lessor; (8) waive any right of the insurers to set-off or counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of Lessor or Lessee to the extent of any moneys due to Lessor; and (9) provide that Lessor shall have no obligation or liability for premiums, commissions, assessments or calls in connection with such insurance. If the insurance required to be carried pursuant to Sections 9(b) and 9(c) is effected under separate policies, the insurers shall agree that if a disagreement arises as to whether a claim is covered by the all-risk insurance or the war-risk insurance, the insurers will settle such claims on the basis of a 50-50 claim funding arrangement. In the case of the requisition for use of the In-Use Aircraft or any Serviced Engine by the Government, a valid agreement by the Government, satisfactory to Lessor, to indemnify Lessee against any of the risks which Lessee is required hereunder to insure against in an amount at least equal to the amount of insurance required to be maintained for the In-Use Aircraft under this Section 9 from time to time shall, to the extent such indemnity from the Government complies with the requirements set forth in Section 7(g) hereof, be considered adequate insurance to the extent of the risks and in the amounts that are the subject of any such agreement to indemnify.;

ALL RISK HULL INSURANCE. During the relevant Termterm of this Agreement, Lessee Borrower shall maintain (or cause to be maintained) at no expense to Lessor Bank the following insurance, insurance on a worldwide basis (except for Iraq and Kuwait) with no territorial restrictions (other than territorial restrictions as may be applicable to Aviation Hull War Risks Coverage), with insurers of recognized responsibility through nationally recognized aviation insurance brokers (A) all-risks (ground, taxingtaxiing, flight and ingestion) hull insurance covering the In-Use Aircraft; and (B) all risks (including transit) Aviation Spare Parts (including Engine and Equipment) Insurance and (C) at all times that any In-Use Aircraft or any Serviced Engine is not covered by the insurance described in Section 9(c7.1(c), coverage against the perils of (i) strikes, riots, civil commotions or labor disturbances, (ii) any vandalism, malicious act or act of sabotage, and (iii) hijacking, or any unlawful seizure or wrongful exercise of control of the In-Use Aircraft or crew in flight made by any person or persons on board the In-Use such Aircraft without the consent of the insured other than hijacking committed by persons engaged in a program of irregular warfare for terrorist purposes, in each case to the extent insured by the standard "buy-back" provisions to the Common North American Airline War Exclusion Clause (AV48B) or its equivalentas currently available in the United States aviation insurance market. Such insurance shall be for an Agreed Value basis which shall be in an amount not less than the Stipulated Loss Valueunpaid principal balance of the Loan. With the consent of LessorBank, which will not be unreasonably withheld, Lessee Borrower may self-insure insure, only by way of standard market deductiblesdeductible, the risks required to be insured against pursuant to the preceding two sentences in such amounts as are reasonably acceptable to Lessor Bank. "Fleet Aggregate" deductions shall not be applicable in its sole discretionrespect of claims payable to Bank pursuant to the policies required to be carried pursuant to this Section 7.1(b). Any policies carried in accordance with this Section 9(b7.1(b) covering the In-Use Aircraft and any policies taken out in substitution or replacement for any such policies shall (1) name Lessor as loss payee as its interests may appear; (2) provide that the entire amount of any loss shall be paid to Lessor or its order; (3) provide that if such insurance is canceled for any reason whatsoever, or any substantial change is made in policy terms, conditions or coverage, or the same is allowed to lapse for non-payment of premium, such cancellation, change or lapse shall not be effective as to Lessor until thirty days (seven days or such other period as may from time to time be customarily obtainable in the industry, in the case of war risk and allied perils coverage), after receipt by Lessor of written notice from such insurers of such cancellation or lapse or change in policy terms, conditions or coverage; (4) provide that losses shall be adjusted with Lessor; (5) provide that in respect of Lessor, such insurance shall not be invalidated by any action or inaction of Lessee or any other insured and shall insure such parties regardless of any breach contained in such policies by Lessee or any other insured; (6) be primary without right of contribution from any other insurance which is carried by Lessor with respect to its interest in the In-Use Aircraft; (7) waive any right of subrogation of the insurers against Lessor; (8) waive any right of the insurers to set-off or counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of Lessor or Lessee to the extent of any moneys due to Lessor; and (9) provide that Lessor shall have no obligation or liability for premiums, commissions, assessments or calls in connection with such insurance. If the insurance required to be carried pursuant to Sections 9(b) and 9(c) is effected under separate policies, the insurers shall agree that if a disagreement arises as to whether a claim is covered by the all-risk insurance or the war-risk insurance, the insurers will settle such claims on the basis of a 50-50 claim funding arrangement. In the case of the requisition for use of the In-Use Aircraft or any Serviced Engine by the Government, a valid agreement by the Government, satisfactory to Lessor, to indemnify Lessee against any of the risks which Lessee is required hereunder to insure against in an amount at least equal to the amount of insurance required to be maintained for the In-Use Aircraft under this Section 9 from time to time shall, to the extent such indemnity from the Government complies with the requirements set forth in Section 7(g) hereof, be considered adequate insurance to the extent of the risks and in the amounts that are the subject of any such agreement to indemnify.