Common use of Further protections for the Creditor Parties Clause in Contracts

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each Borrower shall procure that the obligatory insurances shall: (a) (except in relation to risks referred to in Clause 13.2(c)) name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name the Security Trustee as sole loss payee with such directions for payment as the Security Trustee may specify; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies of the Security Trustee in respect of any rights or interests (secured or not) held by or available to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraph

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each Borrower the Borrowers shall procure that the obligatory insurances shall: (a) (except be in relation to risks referred to in Clause 13.2(c)) the name of the respective Borrower or whenever the Security Trustee so requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name procure that the insurers shall note the Security Trustee’s interest and endorse the relevant notices of assignment and Loss Payable Clause on the relevant certificates of entry or policies and shall furnish the Security Trustee as sole loss payee with a copy of such directions for payment as the Security Trustee may specifycertificates of entry or policies; (c) use their best enceavors to provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies following an Event of Default which is continuing the Security Trustee in respect may make proof of any rights or interests (secured or not) held by or available loss if the Borrowers fail to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphdo so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each the Borrower shall procure that the obligatory insurances shall: (a) (except in relation to the obligatory insurances for fire and usual marine risks referred to in Clause 13.2(c)) and war risks, whenever the Security Trustee requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee or Lenders thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name the Security Trustee as sole loss payee with such directions for payment as the Security Trustee may specify; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑offset-off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers such obligatory insurances shall waive, to the fullest extent permitted be primary without right of contribution from other insurances which may be carried by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies of the Security Trustee in respect of or any rights or interests other Creditor Party; and (secured or note) held by or available to provide that the Security Trustee in respect may make proof of loss if the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphBorrower fails to do so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.314.3 (Terms of obligatory insurances), each the Borrower shall procure that the obligatory insurances shall: : (a) (except in relation to the obligatory insurances for fire and usual marine risks referred to in Clause 13.2(c)) and war risks, whenever the Security Trustee requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; ; (b) name the Security Trustee as sole loss payee with such directions for payment as the Security Trustee may specify; ; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑offset-off, counterclaim or deductions or condition whatsoever; ; (d) provide that the insurers such obligatory insurances shall waive, to the fullest extent permitted be primary without right of contribution from other insurances which may be carried by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies of the Security Trustee in respect of or any rights or interests other Creditor Party; and (secured or note) held by or available to provide that the Security Trustee in respect may make proof of loss if the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphBorrower fails to do so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each the Borrower shall procure that the obligatory insurances shall: (a) (except be in relation to risks referred to in Clause 13.2(c)) the name of the Borrower or whenever the Security Trustee so requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name procure that the insurers shall note the Security Trustee's interest and endorse the relevant notices of assignment and Loss Payable Clause on the relevant certificates of entry or policies and shall furnish the Security Trustee as sole loss payee with a copy of such directions for payment as the Security Trustee may specifycertificates of entry or policies; (c) use their best endeavors to provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies following an Event of Default which is continuing the Security Trustee in respect may make proof of any rights or interests (secured or not) held by or available loss if the Borrower fails to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphdo so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each Borrower shall the Borrowers will: (a) procure that the obligatory insurances shall: (a) (except shall be in relation to risks referred to the name of the respective Borrower and/or any other entity named as co-assured in Clause 13.2(c)) the insurance policies of each Ship or whenever the Security Trustee so requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name procure that the insurers shall note the Security Trustee’s interest and endorse the relevant notices of assignment and loss payable clause on the relevant certificates of entry or policies and shall furnish the Security Trustee as sole loss payee with a copy of such directions for payment as the Security Trustee may specifycertificates of entry or policies; (c) use its best endeavours to provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies following an Event of Default which is continuing the Security Trustee in respect may make proof of any rights or interests (secured or not) held by or available loss if the Borrowers fail to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphdo so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.313.3 (Terms of obligatory insurances), each Borrower Owner shall procure that the obligatory insurances shall: (a) (except in relation to the obligatory insurances for fire and usual marine risks referred to in Clause 13.2(c)) and war risks, whenever the Security Trustee requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name the Security Trustee as sole loss payee with such directions for payment as the Security Trustee may specify; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑offset-off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers such obligatory insurances shall waive, to the fullest extent permitted be primary without right of contribution from other insurances which may be carried by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies of the Security Trustee in respect of or any rights or interests other Creditor Party; and (secured or note) held by or available to provide that the Security Trustee in respect may make proof of loss if the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphrelevant Owner fails to do so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each the Borrower shall will: (a) procure that the obligatory insurances shall: (a) (except shall be in relation to risks referred to the name of the Borrower and/or any other entity named as co-assured in Clause 13.2(c)) the insurance policies of the Ship or whenever the Security Trustee so requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name procure that the insurers shall note the Security Trustee’s interest and endorse the relevant notices of assignment and loss payable clause on the relevant certificates of entry or policies and shall furnish the Security Trustee as sole loss payee with a copy of such directions for payment as the Security Trustee may specifycertificates of entry or policies; (c) use its best endeavors to provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies following an Event of Default which is continuing the Security Trustee in respect may make proof of any rights or interests (secured or not) held by or available loss if the Borrower fails to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphdo so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each the Borrower shall will: (a) procure that the obligatory insurances shall: (a) (except shall be in relation to risks referred to the name of the Borrower and/or any other entity named as co-assured in Clause 13.2(c)) the insurance policies of the Ship or whenever the Security Trustee so requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name procure that the insurers shall note the Security Trustee’s interest and endorse the relevant notices of assignment and loss payable clause on the relevant certificates of entry or policies and shall furnish the Security Trustee as sole loss payee with a copy of such directions for payment as the Security Trustee may specifycertificates of entry or policies; (c) use its best endeavours to provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers shall waive, to the fullest extent permitted by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies following an Event of Default which is continuing the Security Trustee in respect may make proof of any rights or interests (secured or not) held by or available loss if the Borrower fails to the Security Trustee in respect of the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphdo so.

Further protections for the Creditor Parties. In addition to the terms set out in Clause 13.3, each Borrower shall procure that the obligatory insurances shall: (a) (except in relation to the obligatory insurances for hire and usual marine risks referred to in Clause 13.2(c)) and war risks, whenever the Security Trustee requires, name (or be amended to name) the Security Trustee as additional named assured for its rights and interests, warranted no operational interest and with full waiver of rights of subrogation against the Security Trustee, but without the Security Trustee thereby being liable to pay (but having the right to pay) premiums, calls or other assessments in respect of such insurance; (b) name the Security Trustee as sole loss payee with such directions for payment as the Security Trustee may specify; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall be made without set‑offset-off, counterclaim or deductions or condition whatsoever; (d) provide that the insurers such obligatory insurances shall waive, to the fullest extent permitted be primary without right of contribution from other insurances which may be carried by English law, their entitlement (if any) (whether by statute, common law, equity, or otherwise) to be subrogated to the rights and remedies of the Security Trustee in respect of or any rights or interests other Creditor Party; and (secured or note) held by or available to provide that the Security Trustee in respect may make proof of loss if the Secured Liabilities, until the Secured Liabilities shall have been fully repaid and discharged, except that the insurers shall not be restricted by the terms of this paragraphBorrowers fail to do so.