Independent report. If the Agent asks the Borrower for a detailed report from an approved independent firm of marine insurance brokers giving their opinion on the adequacy of the Insurances then the Agent shall be provided promptly with such a report at no cost to the Agent or (if the Agent obtains such a report itself) the Borrower shall reimburse the Agent for the cost of obtaining that report.
Independent report. The Custodian shall, at its expense, complete an annual Section 5970 audit and provide the Client a copy of its annual Section 5970 report as such report is completed and made available in final form by the Custodian’s auditors.
Independent report. The Agent may obtain (for the cost of the Lenders), a detailed report signed by an independent firm of marine insurance brokers appointed by the Agent stating the opinion of such firm as to the adequacy of the Insurances then maintained on the Ship.
Independent report the Lessor shall be entitled to request the Lessee (at the cost of the Lessee), to furnish the Lessor with a detailed report signed by an independent firm of insurance brokers appointed by the Lessor dealing with the insurances maintained on the Ship and stating the opinion of such firm as to the adequacy thereof. The Lessor shall be entitled to request the furnishing of a report under this clause at the time of Delivery and thereafter if the insurance advisors of the Lessor recommend that a report be obtained following the annual audit of the shipping insurance portfolio of the Lessor Group or, if earlier, at the time of any material change in the Insurances or in the identity of the Approved Brokers or the protection and indemnity and/or war risks association responsible for such Insurances or if the Lessor reasonably believes that there has been a material change in insurance market practice in respect of vessels of similar type to the Ship;
Independent report. If the Agent asks the Borrower for a detailed report from an approved independent firm of marine insurance brokers giving their opinion on the adequacy of the Ship's Insurances and compliance with this clause 25, then the Agent shall be provided promptly by the Borrower with such a report at no cost to the Agent or (if the Agent obtains such a report itself, which it is entitled to do the Borrower shall reimburse the Agent for the cost of obtaining that report. The cost of each such report will be borne by the Borrower only once in each calendar year, provided no Event of Default has occurred and is continuing (but without taking into account the independent report under clause 4 (Conditions of Utilisation) and Schedule 3 (Conditions precedent), the cost of which shall always be borne by the Borrower).
Independent report. The Obligors shall reimburse the Security Agent on demand for all reasonable costs and expenses incurred by the Security Agent in obtaining (a) on an annual basis for each Ship a report on the adequacy of the obligatory Insurances from an insurance adviser instructed by the Security Agent; and (b) on the occurrence of an Event or Default or an incident causing severe damage to a Ship in excess of the Major Casualty Amount at any time requested in writing, a report on the adequacy of the obligatory Insurances from an insurance adviser instructed by the Security Agent.
Independent report. The Facility Agent shall be entitled to obtain a detailed report on the adequacy of the Insurances and/or Reinsurances on an annual basis and when the terms of the Insurances and/or Reinsurances have been changed from the Insurance Advisor and the Borrower shall reimburse the Facility Agent for the cost of obtaining any such report on an annual basis and following any change to the terms of such Insurances and/or Reinsurances, provided that such costs have been pre-approved by the Borrower (not to be unreasonably withheld or delayed).
Independent report. (a) If the Agent, upon being instructed to do so by any Lenxxx, xsks the Borrower for a detailed report from an approved independent firm of marine insurance brokers giving their opinion on the adequacy of a Ship’s Insurances then the Agent shall be provided promptly with such a report.
(b) The following such reports shall be provided at no cost to the Agent or (if the Agent obtains such a report itself) the Borrower shall reimburse the Agent for the cost of obtaining that report:
(i) as required pursuant to paragraph 7(a) of the conditions precedent set out in Part 2 of Schedule 3 (Conditions precedent);
(ii) one further such report following any material change (in the opinion of the Agent acting on the instructions of the Lenders (acting reasonably) or the approved independent firm of marine insurance brokers but which shall include any change to a broker or P&I or war risks club) to a Ship’s Insurances; or
(iii) any further such reports requested at any time during which a Default has occurred and is continuing.
(c) The cost of any reports requested by the Agent under clause 24.18(a) in excess of those for the account of the Borrower under clause 24.18(b) shall be for the account of the Agent but the Borrower shall nonetheless provide the Agent with such information as it requires in order to obtain such a report.
Independent report. ITD shall contract with an independent third party to prepare a report for each Project.
Independent report if so requested by the Security Trustee where there has, in the reasonable opinion of the Majority Lenders, been a significant change in circumstances or the insurance arrangements or the status of any insurer or association which may, in the reasonable opinion of the Majority Lenders, adversely affect the interests of the Lenders, but at the cost of the Borrower, furnish the Security Trustee from time to time with a detailed report signed by an independent firm of marine insurance brokers appointed by the Security Trustee dealing with the Insurances maintained on any Mortgaged Vessel and stating the opinion of such firm as to the adequacy thereof;
