Common use of Conditions of Insurance Clause in Contracts

Conditions of Insurance. Each insurance policy required under this Section 8 shall insure the interests of Lessee regardless of any breach or violation by Lessee or any Co-Lessee(s) of any warranties, declarations or conditions contained in such policies. Each such policy shall be primary without any right of contribution from any insurance maintained by Lessee, and shall include a waiver of subrogation in favor of Lessee. Each such policy shall insure Lessee's contractual liability to Lessor contained in this Agreement. The geographic limits, if any, contained in each and every such policy of insurance shall include at the minimum all territories over which Lessee and each Co-Lessee will operate the Aircraft for which the insurance is placed. Each policy shall contain an agreement by the insurer that notwithstanding the lapse of any such policy for any reason or any right of cancellation by the insurer or Lessor, whether voluntary or involuntary, such policy shall continue in force for the benefit of Lessee, and the Co-Lessee(s) for at least thirty (30) days (or such lesser time as may be permitted in the case of War Risk Insurance, if such War Risk Insurance so requires) after written notice of such lapse or cancellation shall have been given to Lessee and each Co-Lessee. Each policy shall contain an agreement by the insurer to provide Lessee and each Co-Lessee with thirty (30) days' advance written notice of any deletion, cancellation or material change in coverage.

Appears in 2 contracts

Samples: Non Exclusive Aircraft Lease Agreement, Non Exclusive Aircraft Lease Agreement (AAC Holdings, Inc.)

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Conditions of Insurance. Each insurance policy required under this Section 8 shall insure the interests of Lessee Lessor regardless of any breach or violation by Lessee or any Co-Lessee(s) of any warranties, declarations or conditions contained in such policies. Each such policy shall be primary without any right of contribution from any insurance maintained by Lessee, Lessor or Lessee and shall include expressly provide that all of the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a waiver of subrogation in favor of Lesseeseparate policy covering each insured. Each such policy shall insure Lessee's contractual liability to Lessor contained in this AgreementAgreement (with a Breach of Warranty endorsement). The geographic limits, if any, contained in each and every such policy of insurance shall include at the minimum all territories over which Lessee and each Co-Lessee will operate the Aircraft for which the insurance is placed. Each policy shall contain an agreement by the insurer that notwithstanding the lapse of any such policy for any reason or any right of cancellation by the insurer or LessorLessee, whether voluntary or involuntary, such policy shall continue in force for the benefit of Lessee, and the Co-Lessee(s) Lessor for at least thirty (30) days (or such lesser time as may be permitted in the case of War Risk Insurance, if such War Risk Insurance so requires) after written notice of such lapse or cancellation shall have been given by insured to Lessee and each Co-LesseeLessor. Each policy shall contain an agreement by the insurer Insurer to provide Lessee and each Co-Lessee Lessor with thirty (30) days' advance written notice of any deletion, cancellation or material change in coverage. Each policy shall contain a waiver by the underwriter thereof of any right of subrogation against Lessor.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Intrepid Potash, Inc.)

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Conditions of Insurance. Each insurance policy required under this Section 8 shall insure the interests of Lessee Lessor regardless of any breach or violation by Lessee or any Co-Lessee(s) of any warranties, declarations or conditions contained in such policies. Each such policy shall be primary without any right of contribution from any insurance maintained by Lessee, Lessor or Lessee and shall include expressly provide that all of the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a waiver of subrogation in favor of Lesseeseparate policy covering each insured. Each such policy shall insure Lessee's ’s contractual liability to Lessor contained in this AgreementAgreement (with a Breach of Warranty endorsement). The geographic limits, if any, contained in each and every such policy of insurance shall include at the minimum all territories over which Lessee and each Co-Lessee will operate the Aircraft for which the insurance is placed. Each policy shall contain an agreement by the insurer that notwithstanding the lapse of any such policy for any reason or any right of cancellation by the insurer or LessorLessee, whether voluntary or involuntary, such policy shall continue in force for the benefit of Lessee, and the Co-Lessee(s) Lessor for at least thirty (30) days (or such lesser time as may be permitted in the case of War Risk Insurance, if such War Risk Insurance so requires) after written notice of such lapse or cancellation shall have been given by insured to Lessee and each Co-LesseeLessor. Each policy shall contain an agreement by the insurer Insurer to provide Lessee and each Co-Lessee Lessor with thirty (30) days' advance written notice of any deletion, cancellation or material change in coverage. Each policy shall contain a waiver by the underwriter thereof of any right of subrogation against Lessor.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Intrepid Potash, Inc.)

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