Common use of Breach of Insurance and certain other obligations Clause in Contracts

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.4 or 8.5 or either Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any Mortgaged Ship in accordance with the requirements of the Mortgaged Ships relevant Ship Security Documents or if any insurer in respect of such Insurances cancels the such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the such Insurances or for any other failure or default on the part of any of the Borrowers or any other person person, or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.5 or 8.1.18 or 8.2 or 8.3 or 8.4 or 8.5 of this Agreement, or either which have been assumed by them pursuant to the proviso at the end of this clause 10.1, or the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses [5.1.4 or 5.1.5 or 5.2 or 5.3 5.3] of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any either of the Borrowers or, as the context may require, or the Manager or any other person fails to obtain and/or maintain the Insurances for any (in accordance with the requirements of the Mortgaged Security Documents) for either of the Ships or if any insurer in respect of such Insurances cancels the any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the any of such Insurances or for any other failure or default on the part of any of the Borrowers or either of them or any other person or any of the Borrowers commits commit any breach of or omits omit to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.2, 8.3, 8.4 or 8.5 of this Agreement or either Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses clause 5.2 or 5.3 of the relevant Corporate GuaranteeGuarantee to which it is a party; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.4 or 8.5 or either any of the Corporate Guarantor Guarantors commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses clause 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.4 or 8.5 or either any of the Corporate Guarantor Guarantors commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context case may requirebe, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.13, 8.2 or 8.3 or 8.4 or 8.5 or either the Corporate Guarantor commits any breach of or omits fails to observe any of the obligations or undertakings undertaking expressed to be assumed by it under clauses 5.1.4, 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of, the relevant Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the such Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.4 or 8.5 or either the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 or 5.4 or 5.5 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any Mortgaged Ship in accordance with the requirements of the Mortgaged Ships relevant Ship Security Documents or if any insurer in respect of such Insurances cancels the such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the such Insurances or for any other failure or default on the part of any of the Borrowers or any other person person, or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.5 or 8.1.19 or 8.2 or 8.3 or 8.4 or 8.5 of this Agreement, or either which have been assumed by them pursuant to the proviso at the end of this clause 10.1, or the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.1.4 or 5.1.5 or 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context case may requirebe, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.13, 8.2 or 8.3 or 8.4 or 8.5 or either the Corporate 42 Guarantor commits any breach of or omits fails to observe any of the obligations or undertakings undertaking expressed to be assumed by it under clauses 5.1.4, 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers Owners or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of the Owners or any of the Borrowers them or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.4 or 8.5 or either Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the relevant Corporate Guarantee or the Xxxxxx Owner commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the Xxxxxx Guarantee; or

Breach of Insurance and certain other obligations. any either of the Borrowers or, as the context case may requirebe, the Manager or any other person fails to obtain and/or maintain the Insurances for any either of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any either of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.13, 8.2 or 8.3 or 8.4 or 8.5 or either the Corporate Guarantor commits any breach of or omits fails to observe any of the obligations or undertakings undertaking expressed to be assumed by it under clauses 5.1.4, 5.2 or 5.3 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of, the relevant Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the such Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2 or 8.3 or 8.1.5, 8.1.17, 8.2, 8.3, 8.4 or 8.5 or either 8.6 or the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 or 5.4 or 5.5 of the relevant Corporate Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers Owners or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of, the Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers Owners or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them it under clauses 8.2 or 8.1.5, 8.1.7, 8.1.16, 8.2, 8.3 or 8.4 or 8.5 or either the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the Corporate Guarantee or any of the Collateral Owners commits any breach of or omits to observe any of the obligations or undertakings expressed to be assured by it under clauses 5.2 or 5.3 of the relevant Corporate Collateral Guarantee; or

Breach of Insurance and certain other obligations. the Owner or any of the Borrowers (other than Xxxxxx Enterprises Co.), the Manager or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the such Insurances or for any other failure or default on the part of the Owner or any of the Borrowers (other than Xxxxxx Enterprises Co.) or the Manager or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them it under clauses 8.2 or 8.3 or 8.4 or 8.5 of the Loan Agreement or either of the Corporate Guarantor Guarantors commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the relevant Corporate Guarantee or the Owner commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under clauses 5.2 or 5.3 of the Collateral Guarantee; or

Breach of Insurance and certain other obligations. any of the Borrowers or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Borrowers or any other person or any of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.13, 8.2 or 8.3 or 8.4 or 8.5 or either any of the Corporate Guarantor Guarantors commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses clause 5.2 or 5.3 of the relevant Corporate Guarantee; or