Common use of Hull and Machinery, War Risk and Increased Value Coverage; Letters of Undertaking Clause in Contracts

Hull and Machinery, War Risk and Increased Value Coverage; Letters of Undertaking. With respect to hull and machinery, war risk and increased value coverage, each of the Borrowers in respect of each Mortgaged Vessel owned by it shall ensure that the brokers for such coverage provide IFC with true and correct copies of (i) all cover notes and/or certificates of entry and, if requested by IFC, pro forma copies of all policies relating to such insurances which they are to effect or renew and (ii) a letter or letters of undertaking in a form acceptable to IFC and provided that this is not inconsistent with market practice such letter or letters of undertaking shall include undertakings by such brokers that:

Hull and Machinery, War Risk and Increased Value Coverage; Letters of Undertaking. With respect to hull and machinery, war risk and increased value coverage, each of the Borrowers in respect of each Mortgaged Vessel owned by it shall ensure that the brokers for such coverage provide IFC OFID with true and correct copies of (i) all cover notes and/or certificates of entry and, if requested by IFCOFID, pro forma copies of all policies relating to such insurances which they are to effect or renew and (ii) a letter or letters of undertaking in a form acceptable to IFC OFID and provided that this is not inconsistent with market practice such letter or letters of undertaking shall include undertakings by such brokers that:

Hull and Machinery, War Risk and Increased Value Coverage; Letters of Undertaking. With respect to hull and machinery, war risk and increased value coverage, each of the Borrowers Borrower in respect of each Mortgaged Vessel owned bareboat chartered by it shall ensure that the brokers for such coverage provide IFC with true and correct copies of (i) all cover notes and/or certificates of entry and, if requested by IFC, pro forma copies of all policies relating to such insurances which they are to effect or renew and (ii) a letter or letters of undertaking in a form acceptable to IFC and provided that this is not inconsistent with market practice such letter or letters of undertaking shall include undertakings by such brokers that:

Hull and Machinery, War Risk and Increased Value Coverage; Letters of Undertaking. With respect to hull and machinery, war risk and increased value coverage, each of the Borrowers Borrower in respect of each Mortgaged Vessel owned bareboat chartered by it shall ensure that the brokers for such coverage provide IFC OFID with true and correct copies of (i) all cover notes and/or certificates of entry and, if requested by IFCOFID, pro forma copies of all policies relating to such insurances which they are to effect or renew and (ii) a letter or letters of undertaking in a form acceptable to IFC OFID and provided that this is not inconsistent with market practice such letter or letters of undertaking shall include undertakings by such brokers that: