Insurance Against Loss or Damage. Lessee, at its own expense, will maintain in effect, or cause to be carried and maintained in effect, with Approved Insurers "all-risk" ground and flight aircraft and spares hull insurance (which shall include, but not be limited to, hijacking, a disappearance clause and coverage against strikes, riots, commotions or labor disturbances, air piracy, malicious acts or acts of sabotage and unlawful seizure or wrongful exercise of control of the Aircraft in flight by a person on board such Aircraft acting without the -67- 68 consent of Lessee) covering the Engine and/or the Aircraft, as the case may be, and "all-risk" coverage including transit insurance with respect to the Engine and Parts while not installed on such Aircraft or an aircraft, which in each case considering all policy terms, limitations and exclusions is of the type, terms and amount customarily maintained by prudent Certificated Air Carriers similarly situated to Lessee and operating similar size aircraft and engines and as hereinafter provided. Lessee shall also maintain, or cause to be maintained, war risk and allied perils hull and spares insurance reasonably acceptable to Lessor with Approved Insurers. In addition, at least ten (10) Business Days (or, in the case of an emergency, at least two (2) Business Days) prior to permitting the Engine or the Aircraft to be operated or located outside of the United States of America, other than in Canada or Mexico, Lessee shall notify Lessor thereof. If Owner Participant or Indenture Trustee reasonably requests at any time and if such insurance is then customarily being obtained by or for Persons leasing or financing similarly sized aircraft operating on similar routes to operators located in the jurisdiction of Lessee's or, if a Permitted Sublease is in effect, the Permitted Sublessee's jurisdiction of domicile, Lessee shall pay or reimburse Lessor for political risk, repossession, expropriation, confiscation and similar insurance as Lessor may arrange or cause to be arranged; provided that Indenture Trustee shall not be obligated to request such insurance and shall not be liable for any failure to request such insurance. Anything herein to the contrary notwithstanding, at all times while the Engine is subject to this Lease, the insurance required by this Section 12(b) shall be for an amount on an "agreed value" basis not less than the Stipulated Loss Value from time to time determined for the Engine. Without limiting the foregoing, the type and amo...
Insurance Against Loss or Damage. (i) Except as provided in clause (ii) of this Section 2.03(b), and subject to the rights of Grantors to establish and maintain self-insurance in the manner and to the extent specified in Section 2.03(f) below, Grantors shall maintain, or cause to be maintained, in effect with insurers of recognized responsibility, at no expense to the Administrative Agent, all-risk aircraft hull insurance covering each Aircraft and Spare Engine and all-risk coverage with respect to any Engine, Spare Engine or Part while removed from an Airframe or airframe (or Engine, Spare Engine or engine (in the case of a Part)) (including, without limitation, war risk, hijacking and allied perils insurance, if and to the extent the same is maintained by a Grantor (or, if a Permitted Lease in respect of such Airframe, Engine or Spare Engine is then in effect, by the Permitted Lessee) with respect to other similar aircraft and engines operated by such Grantor or such Permitted Lessee, as the case may be, on the same or similar routes or if such Aircraft, Engine or Spare Engine is being operated in any war zone or recognized or, in the applicable Grantor’s judgment, threatened areas of hostilities), that is of the type as from time to time applicable to aircraft operated by such Grantor (or, if a Permitted Lease in respect of such Airframe, Engine or Spare Engine is then in effect, by the Permitted Lessee) of the same type as such Aircraft and Spare Engine; provided that such insurance (including the permitted self-insurance) in the case of such Aircraft and Spare Engine shall at all times while such Aircraft or Spare Engine is subject to this Mortgage be for an amount not less than the Insured Amount therefor. Any insurance amounts described in this clause (b)(i) which relate to the loss of an engine (other than an Engine or Spare Engine) shall be, if received by the Administrative Agent, paid over to the Person legally entitled thereto. Any policies carried in accordance with this Section 2.03(b) and any policies taken out in substitution or replacement for any such policies shall:
(1) provide that any insurance proceeds payable for any loss or damage, with respect to any Aircraft, Engine or Spare Engine, together with accrued but unpaid interest thereon, shall be paid to the Administrative Agent (at such account and address as the Administrative Agent specifies) as follows: (a) if such insurance proceeds are in respect of an Event of Loss, or (b) if the insurer has received a notice fr...
Insurance Against Loss or Damage. You are responsible for all loss or damage to the container (except fair wear and tear) even if caused by acts or events outside of your control; you must therefore insure the bin against loss or damage.
Insurance Against Loss or Damage. The Grantor will maintain in effect, or cause to be carried and maintained in effect, with insurers of recognized responsibility, at no cost and expense to the Secured Party, “all-risk” insurance (including war risk and allied perils) covering the Collateral, which considering all policy terms, limitations and exclusions is of the type, terms and amount as customarily maintained by owners similar to the Grantor with respect to similar Collateral used in a similar manner; provided that the amount of such coverage shall not at any time be less than Five Million and 00/100 Dollars ($5,000,000). Each and any policy of insurance obtained and maintained pursuant to this Security Agreement and each and any policy obtained in substitution or replacement for any such policies, (i) shall designate the Grantor as an owner of the Collateral, and shall designate the Secured Party as a loss payee as provided below (but without imposing upon any such Secured Party any obligation imposed upon the insured, including, without limitation, the liability to pay any premiums for any such policies); (ii) shall expressly provide that, in respect of the interests of the Secured Party and the other Indemnitees in such policies, the insurance shall not be invalidated as to an insured by any act or omission of any other Person, and shall insure the Secured Party and the other Indemnitees and their respective assigns, regardless of any breach or violation by any other Person of any warranty, declaration or condition contained in such policies; (iii) shall provide that if such insurance is canceled for any reason whatsoever, or is changed in any adverse way with respect to the interests of the Secured Party and the other Indemnitees and their respective assigns, such cancellation or change shall not be effective as to the Secured Party or its respective assigns, until thirty (30) days (or such lesser period of time as is customarily available at the time in the case of any war risks or allied perils coverage) after written notice to the Secured Party from such insurer or insurers, as the case may be, of such prospective cancellation or change; (iv) shall provide that, as against the Secured Party and the other Indemnitees, each insurer shall waive any rights of set-off, counterclaim or any other deduction, whether by attachment or otherwise, and waive any rights it may have to be subrogated to any right of any insured against the Secured Party and the other Indemnitees with respect to ...
Insurance Against Loss or Damage. Lessee, at its own expense, will maintain in effect, or cause to be carried and maintained in effect, with Approved Insurers "all-risk" ground and flight aircraft hull insurance (which shall include, but not be limited to, hijacking, a disappearance clause and coverage against strikes, riots, commotions or labor disturbances, air piracy, malicious acts or acts of sabotage and unlawful seizure or wrongful exercise of control of the Aircraft in flight by a person on board such Aircraft acting without the consent of Lessee) covering the Aircraft, and "all-risk" coverage including transit insurance with respect to Engines and Parts while not installed on such Aircraft or an aircraft, which in each case considering all policy terms, limitations and Each and any policy of insurance obtained and maintained pursuant to this Section 12(b), and each and any policy obtained in substitution or replacement for any such policies, (i) shall designate Lessor as owner of the Aircraft, shall designate, so long as the Lien of the Indenture has not been discharged, Indenture Trustee and, thereafter, Lessor, as sole loss payee, as provided below and shall designate Lessor, Owner Participant, Indenture Trustee (in both its individual capacity and its trustee capacity) and the other Indemnitees and their respective permitted assigns as additional insureds, as their respective interests may appear (but without imposing upon Lessor, Owner Participant, Indenture Trustee and their respective permitted assigns, any obligation imposed upon the insured, including, without limitation, the liability to Each of Lessor, Owner Participant and Foreign Lessor shall have the right to carry additional and separate excess or contingent insurance for its own benefit at its own expense, without, however, thereby limiting Lessee's obligations under this Section 12, and Lessee shall not carry any such insurance if it would conflict with or adversely affect other insurance carried by Lessor, Foreign Lessor, or Owner Participant. Lessee shall have the right to carry insurance in excess of the amounts required hereunder and the proceeds of such excess insurance shall be payable to Lessee, provided, however, that such insurance does not conflict with or adversely affect the insurance required hereunder or any excess or contingent insurance carried by Lessor, Foreign Lessor, or Owner Participant. Lessee shall give Lessor reasonable prior written notice of any insurance to be carried by Lessee in addition...
Insurance Against Loss or Damage. Lessee, at its own expense, will maintain in effect with Approved Insurers "all-risk" ground and flight aircraft hull insurance (which shall include, but not be limited to, comprehensive war risk and allied perils, hijacking, a disappearance clause and coverage against strikes, riots, commotions or labor disturbances, malicious acts or acts of sabotage and unlawful seizure (including confiscation, arrest, nationalization, seizure, restraint, detention, appropriation, requisition or destruction thereat, by or under authority of any Governmental Entity), or wrongful exercise of control of the Aircraft in flight by a person on board the Aircraft acting without the consent of Lessee) covering the Aircraft, and fire, transit and extended perils and "all-risk" coverage insurance with respect to Engines and Parts while not installed on the Aircraft or an aircraft, which in each case, considering all policy terms, limitations and exclusions, is at least as broad as coverage maintained by Certificated Air Carriers similarly situated to Lessee and operating similar aircraft and engines which comprise Lessee's fleet. Such insurance shall be for an amount not less than the Casualty Value for the Aircraft. Such insurance may include provisions for deductibles in an amount usual and customary by commercial scheduled airline standards for airline carriers operating similar aircraft provided that (i) the amount of such deductibles must be no greater than the lowest deductible amount applying to any similar aircraft in Lessor's fleet, and (ii) in no event shall the amount of such deductibles exceed the amount under "Deductible Amount" set forth on Exhibit C hereto.
Insurance Against Loss or Damage. Lessee, at its own expense, will maintain in effect, or cause to be carried and maintained in effect, with Approved Insurers Each and any policy of insurance obtained and maintained pursuant to this Section 12(b), and each and any policy obtained in substitution or replacement for any such policies, (i) shall designate Lessor as owner of the Aircraft, shall designate, so long as the Lien of the -77- 79 a payment, such payment shall be payable directly to Indenture Trustee, as sole loss payee for the account of all interests, so long as the Lien of the Indenture shall not have been discharged and thereafter to Lessor, as sole loss payee for the account of all interests. The insurance required under this Section 12(b) may incorporate deductible amounts which shall not exceed one million dollars ($1,000,000). Each of Lessor and Owner Participant shall have the right to carry additional and separate excess or contingent insurance for its own benefit at its own expense, without, however, thereby limiting Lessee's obligations under this Section 12, and Lessee shall not carry any such insurance if it would conflict with or adversely affect other insurance carried by Lessor or Owner Participant. Lessee shall have the right to carry insurance in excess of the amounts required hereunder and the proceeds of such excess insurance shall be payable to Lessee, provided, however, that such insurance does not conflict with or adversely affect the insurance required hereunder or any excess or contingent insurance carried by Lessor or Owner Participant. Lessee shall give Lessor reasonable prior written notice of any insurance to be carried by Lessee in addition to that required to be carried by Lessee as provided herein. In the event that separate policies are maintained to cover "all-risk" ground and flight aircraft, hull and war risks and allied perils insurance, Lessee shall include a 50/50 provisional claims settlement clause as contained in the policies of insurance maintained by Lessee with respect to all other aircraft in Lessee's fleet, and a copy of the 50/50 provisional claims settlement clause in effect on the Restatement Date shall be attached to the insurance certificate issued on the Restatement Date.
Insurance Against Loss or Damage. The Grantor will maintain or cause to be maintained with respect to the Granted Property insurance against loss by fire, windstorm and explosion and with extended coverage and against such other risks of physical loss as are customarily insured against, and in such amounts as are customarily carried by companies owning property of a similar character and similarly located and engaged in a business similar to that engaged in by the Grantor; provided, however, that the amount of such insurance with respect to the Granted Property shall not at any time be less than the greater of replacement value or Loan Value thereof.
Insurance Against Loss or Damage. Without cost to any Secured Party, the Borrower shall maintain or cause to be maintained in effect at all time insurance with respect to the Facility against all risks of physical loss in such amount as the Borrower would, in the prudent management of its property, maintain, or as would be maintained by others similarly situated in respect of property similar to the Facility; provided that the amount of such insurance shall not be less than the replacement cost of the Facility. All insurance policies shall be on a "no co-insurance/replacement cost" basis, in such form (including the form of the loss payable clauses to be endorsed as to all property, delayed opening and business interruption policies), of such type and scope of coverage and with such insurers as shall at all times be reasonably satisfactory to the Required Lenders. On or prior to the Restatement Effective Date, the Borrower shall procure or cause to be procured at its own expense and maintain in full force and effect, with responsible insurers approved to do business in the Commonwealth of Virginia rated A-1 or better, with a minimum size rating of "IX," by Best's Rating Service (except for policies underwritten by Lloyd's of London and approved companies, acceptable to the Agent), the following types of insurance:
Insurance Against Loss or Damage. BMS shall maintain or cause to be maintained in effect at all times during the Term, property insurance to the extent BMS reasonably deems adequate for the Nitric Acid Facility and the assets comprising the EDNLP Net Book Value and keep it, and all of the Catalyst, and equipment and machinery comprising the Nitric Acid Facility insured on a replacement value basis and on an all-risk basis, which shall include coverage for the following without limitation: perils of earthquake, windstorm, flood, fire or other casualty; vandalism and malicious mischief; coverage for replacement costs and cost of demolition endorsements; and comprehensive boiler and machinery coverage.
