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

Further protections for the Finance Parties. In addition to the terms set out in Clause 20.3 (Terms of obligatory insurances), each Guarantor shall procure that the obligatory insurances effected by it shall: (a) whenever the Agent 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 loss payee with such directions for payment as the Agent 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 such obligatory insurances shall be primary without right of contribution from other insurances which may be carried by the Security Trustee or any other Finance Party; and (e) provide that the Security Trustee may make proof of loss if the Guarantor concerned fails to do so.

Further protections for the Finance Parties. In addition to the terms set out in Clause 20.3 23.3 (Terms of obligatory insurances), each Guarantor shall procure that the obligatory insurances effected by it shall: (a) whenever in relation only to the Agent requiresobligatory insurances for fire and usual marine risks and war risks, 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 loss payee in accordance with such directions for payment as the Agent may specifyform of loss payable clause set out in Exhibit A to the Assignment of Insurances; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall shall, to the extent the applicable persons referred to in Clause 23.3(f) are willing to agree, be made without set‑offset-off, counterclaim or deductions or condition whatsoever; (d) provide that such obligatory insurances shall be primary without right of contribution from other insurances which may be carried by the Security Trustee or any other Finance Party; and (e) provide that the Security Trustee may make proof of loss if the Guarantor concerned fails to do so.

Further protections for the Finance Parties. In addition to the terms set out in Clause 20.3 23.3 (Terms of obligatory insurances), each Guarantor shall procure that the obligatory insurances effected by it shall: (a) whenever in relation only to the Agent requiresobligatory insurances for fire and usual marine risks and war risks, 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 loss payee in accordance with such directions for payment as the Agent may specifyform of loss payable clause set out in Exhibit A to the Assignment of Insurances; (c) provide that all payments by or on behalf of the insurers under the obligatory insurances to the Security Trustee shall shall, to the extent the applicable persons referred to in Clause 23.3(f) are willing to agree, be made without set‑offset-off, counterclaim or deductions or condition whatsoever; (d) provide that such obligatory insurances shall be primary without right of contribution from other insurances which may be carried by the Security Trustee or any other Finance Party; and (e) provide that the Security Trustee may make proof of loss if the Guarantor concerned fails to do so.

Further protections for the Finance Parties. In addition to the terms set out in Clause 20.3 22.3 (Terms of obligatory insurances), each Guarantor shall procure that the obligatory insurances effected by it shall: (a) whenever the Agent 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 loss payee with such directions for payment as the Agent 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 such obligatory insurances shall be primary without right of contribution from other insurances which may be carried by the Security Trustee or any other Finance Party; and (e) provide that the Security Trustee may make proof of loss if the Guarantor concerned fails to do so.