Common use of Fleet cover Clause in Contracts

Fleet cover. If any of the Insurances referred to in clause 13.2.1 and/or 13.2.2 form part of a fleet cover, the Lessee will procure that (a) any letter of undertaking referred to in clause 13.7 is amended to provide that the relevant brokers shall undertake to the Lessor that they shall neither set-off against any claims in respect of the Ship any premiums due in respect of other vessels under such fleet cover or any premiums due for other insurances, nor cancel the insurance for reason of non-payment of premiums for other vessels under such fleet cover or of premiums for such other insurance or (b) that the applicable policy documents are endorsed to the effect that the applicable insurers shall neither set-off against any claims in respect of the Ship any premiums due in respect of other vessels under such fleet cover or any premiums due for other insurances, nor cancel the insurance for reason of non-payment of premiums for other vessels under such fleet cover or of premiums for such other insurance or (c) that the Lessor receives other comfort that this will not occur.

Fleet cover. If any of the Insurances referred to in clause 13.2.1 clauses 9.5.2(a) and/or 13.2.2 9.5.2(b) form part of a fleet cover, the Lessee Borrower will procure that (a) any letter of undertaking referred to in clause 13.7 9.5.7 is amended to provide that the relevant brokers shall undertake to the Lessor Lender Finance Parties that they shall neither set-off against any claims in respect of the Ship Vessel any premiums due in respect of other vessels under such fleet cover or any premiums due for other insurances, nor cancel the insurance for reason of non-payment of premiums for other vessels under such fleet cover or of premiums for such other insurance or (b) that the applicable policy documents are endorsed to the effect that the applicable insurers shall neither set-off against any claims in respect of the Ship Vessel any premiums due in respect of other vessels under such fleet cover or any premiums due for other insurances, nor cancel the insurance for reason of non-payment of premiums for other vessels under such fleet cover or of premiums for such other insurance or (c) that the Lessor receives Lender Finance Parties receive other comfort that this will not occuroccur or arranges separate policies for the Vessel.