I4 Launch Insurance Sample Clauses
The I4 Launch Insurance clause requires the procurement of insurance coverage specifically for the launch phase of a project, typically involving spacecraft or satellite launches. This clause outlines the types of risks to be covered, such as damage to the payload or third-party liability, and may specify the minimum coverage amounts and responsible parties for obtaining the insurance. Its core function is to allocate financial risk associated with launch failures or accidents, ensuring that losses are mitigated and that all parties are protected from significant financial exposure during this high-risk phase.
I4 Launch Insurance. The Company shall procure that where a new member of the Acquired Group is incorporated in the Isle of Man (“IoMCo”) for the purposes set out in the memorandum to the board of directors of the Target dated 31 October 2003 entitled “Inmarsat Launch Company Limited” (and a copy of which has been provided to the Lenders) then:
(a) the contract (or contracts) of insurance for the launch insurance cover in respect of the I4 Satellites taken out, or to be taken out, by IoMCo;
(b) the contract (or contracts) made, or to be made, by any member of the Group and IoMCo in relation to the launch of the I4 Satellites; and
(c) all Permitted Loans made, or to be made, by any member of the Group to IoMCo, shall, in each case, be governed by English law, be subject to the jurisdiction of the courts of England and be charged and/or assigned to the Security Trustee pursuant to Debenture 2.