Insurance Against Loss or Damage to the Aircraft. (I) Except as provided in clause (II) of this Section 11(b), Lessee shall maintain or cause to be maintained in effect, at its or any Sublessee's expense, with insurers of recognized responsibility, all-risk ground and flight aircraft hull insurance covering the Aircraft and all-risk ground and flight coverage of Engines and Parts while temporarily removed from the Aircraft and not replaced by similar components (including, without limitation, war risk and governmental confiscation and expropriation (other than by the government of registry of the Aircraft) and hijacking insurance, if and to the extent the same is maintained by Lessee (or, if a Sublease is then in effect, by Sublessee) with respect to other aircraft owned or operated by Lessee (or such Sublessee) on the same routes, except that Lessee (or such Sublessee) shall maintain war risk and governmental confiscation and expropriation (other than by the government of registry of the Aircraft) and hijacking insurance if the Aircraft is operated on routes where the custom is for major international air carriers flying comparable routes to carry such insurance) which is of the type as from time to time applicable to aircraft owned or operated by Lessee (or, if a Sublease is then in effect, by Sublessee) of the same type as the Aircraft; provided that such insurance shall at all times while the Aircraft is subject to this Lease be for an amount (subject to self-insurance to the extent permitted by Section 11(d)) not less than the Stipulated Loss Value for the Aircraft. Any policies carried in accordance with this paragraph (b) covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name Lessor, as owner trustee, the Indenture Trustee and the Owner Participant (and, if any Sublease shall be in effect, Lessee in its capacity as sublessor under the Sublease) as additional insureds, as their respective interests may appear (but without imposing on any such party liability to pay premiums with respect to such insurance), (ii) may provide for self-insurance to the extent permitted in Section 11(d), (iii) shall provide that (A) in the event of a loss involving proceeds in excess of $3,500,000 (or, if the Aircraft is then under a Sublease, in excess of $2,000,000), the proceeds in respect of such loss up to an amount equal to the Stipulated Loss Value for the Aircraft shall be payable to Lessor (or, so long as the Trust Indenture shall not have been discha...
Insurance Against Loss or Damage to the Aircraft. (1) Except as provided in clause (2) of this subsection (b), and subject to the provisions of Section 7.04(d) permitting the self-insurance, Owner shall maintain or cause to be maintained in effect, at its or any Lessee's expense, with insurers of nationally or internationally recognized responsibility, all-risk aircraft hull insurance covering the Aircraft and fire and extended coverage and all-risk aircraft hull insurance covering Engines and Parts while temporarily removed from the Aircraft and not replaced by similar components; provided that such insurance shall at all times while the Aircraft is subject to the Lien of the Indenture be for an amount (taking into account the self-insurance to the extent permitted by Section 7.04(d)) not less than the amount payable under Section 5.06(a) upon the occurrence of an Event of Loss; provided further, that, subject to compliance with Section 7.04(d), such all-risk property damage insurance covering Engines and Parts temporarily removed from an Airframe or an airframe or (in the case of Parts) an Engine need be obtained only to the extent available at reasonable cost (as reasonably determined by Owner). In the case of a loss with respect to an engine (other than an Engine) installed on the airframe in circumstances which do not constitute an Event of Loss with respect to the Airframe, the Indenture Trustee shall promptly remit any payment made to it of any insurance proceeds in respect of such loss to Owner or any other third party that is entitled to receive such proceeds. Unless an Event of Default has occurred and is continuing, all losses will be adjusted by Owner with the insurers. As between the Indenture Trustee and Owner, it is agreed that all insurance payments received as the result of the occurrence of an Event of Loss will be applied as follows:
Insurance Against Loss or Damage to the Aircraft. (1) Except as provided in clause (2) of this subsection (b), and subject to the provisions of Section 11(d) permitting the self-insurance, Lessee shall maintain or cause to be maintained in effect, at its or any Sublessee's expense, with insurers of nationally or internationally recognized responsibility, all-risk aircraft hull insurance covering the Aircraft and fire and extended coverage and all-risk aircraft hull insurance covering Engines and Parts while temporarily removed from the Aircraft and not replaced by similar components; provided that such insurance shall at all times while the Aircraft is subject to this Lease be for an amount (taking into account the self-insurance to the extent permitted by Section 11(d)) not less than the Termination Value for the Aircraft; provided further, that, subject to compliance with Section 11(d), such all-risk property damage insurance covering Engines and Parts temporarily removed from an Airframe or an airframe or (in the case of Parts) an Engine need be obtained only to the extent available at reasonable cost (as reasonably determined by Lessee). In the case of a Loss with respect to an engine (other than an Engine) installed on the airframe in circumstances which do not constitute an Event of Loss with respect to the Airframe, Lessor shall promptly remit any payment made to it of any insurance proceeds in respect of such Loss to Lessee or any other third party that is entitled to receive such proceeds. Unless an Event of Default has occurred and is continuing, all losses will be adjusted by Lessee with the insurers. As between Lessor and Lessee, it is agreed that all insurance payments received as the result of the occurrence of an Event of Loss will be applied as follows:
Insurance Against Loss or Damage to the Aircraft. (a) Except as provided in paragraph (b) of this Section 6.02 and the provisions of Section 6.08, and subject to the provisions of Section 6.04 permitting self-insurance, the Borrower shall at all times carry and maintain or cause to be carried and maintained, on a non-discriminatory basis, in effect with insurers of internationally recognized responsibility acceptable to the Administrative Agent (which acceptability not to be unreasonably withheld or delayed) (i) "all risk" aircraft hull insurance covering the Aircraft (with flight, taxiing and ingestion coverages), (ii) fire, transit and extended coverage of Engines and Parts while removed from the Aircraft (providing insurance for replacement value), and (iii) war risk and allied perils insurance, including governmental confiscation and expropriation (other than by the government of registry of the Aircraft) and hijacking insurance (collectively, "War Risk Insurance"); provided that, in the case of War Risk Insurance, such insurance shall only be required to be maintained (x) with respect to the buy-backs covering strikes, sabotage, confiscation and hijacking contained in London Form LSW 555B and (y) with respect to terms and provisions of War Risk Insurance in addition to those covered by the preceding clause (x), (A) if and to the extent the same is maintained by the Borrower with respect to other aircraft owned or operated by the Borrower on the same routes or (B) if the Aircraft is operated in a war zone (unless the Borrower obtains indemnification in lieu thereof pursuant to Section 6.06 hereof) or (C) if and to the extent the same is industry standard for major U.S. carriers operating similarly-sized aircraft on similar routes; provided, further, that the foregoing insurance shall at all times while the Aircraft is subject to this Mortgage be for an amount (taking into account self-insurance to the extent permitted by Section 6.04) not less than the Stipulated Insured Amount. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, the Administrative Agent shall hold any payment received by it of any hull insurance proceeds in respect of such loss for account of the Borrower or any other third party to the extent the Borrower or such third party is entitled to receive such proceeds. Except during a period when a Special Default or an Event of Default has occurred and is continuing (in which case all losses will be adjusted by the loss payee), all losses will...
Insurance Against Loss or Damage to the Aircraft. Lessee represents and warrants that it will maintain in effect, at its own expense, with insurers of recognized responsibility reasonably satisfactory to Lessor, all-risk ground and flight aircraft hull insurance covering the Aircraft, including F.O.D. (foreign object damage), fire and explosion coverage, and lightning and electrical damage, and with respect to any Engines or Parts while removed from the Aircraft, and with respect to any engines or parts while temporarily installed on the Aircraft, provided that such insurance shall at all times while the Aircraft is subject to this Lease be for an amount of not less than the "Fair Market Value" of the Aircraft. For all purposes hereof, the Fair Market Value of the Aircraft shall be assumed to be $45,000,000, unless, at the request of either party, a valuation is obtained from a mutually agreed upon appraiser, in which event such appraised value shall be the Fair Market Value of the Aircraft. Lessee shall additionally maintain in effect, at its own expense, with insurers of recognized responsibility reasonably satisfactory to Lessor, war risk, hijacking (air piracy), governmental confiscation and expropriation insurance with respect to the Aircraft in a face amount of not less than the Fair Market Value for the Aircraft from time to time which shall be in full force and effect throughout any geographical areas at any time traversed by the Aircraft.
Insurance Against Loss or Damage to the Aircraft. Lessee shall maintain at its own cost and expense for the entire Term with insurers satisfactory to Lessor, all-risk ground and flight aircraft hull insurance covering the Aircraft, including foreign object damage, fire and explosion coverage, cargo, environmental, ingestion and lightning and electrical damage and comparable insurance with respect to any Engines or Parts while removed from the Aircraft, and with respect to any engines or parts while temporarily installed on the Aircraft, provided that such insurance shall at all times be in an amount not less than the Casualty Value of the Aircraft (such amount determined at the Rent Commencement Date and at each annual renewal date of the insurance policies provided hereunder for the next succeeding year throughout the Term). Lessee shall maintain in effect hijacking (air piracy) insurance with respect to the Aircraft in a face amount of not less than the Casualty Value of the Aircraft (determined as described herein), which shall be in full force and effect worldwide throughout any geographical areas at any time traversed by the Aircraft. Such insurance shall also include war risk, governmental confiscation and expropriation and related insurance.
Insurance Against Loss or Damage to the Aircraft. Lessee, at its own expense, shall maintain in effect with insurers of recognized reputation and responsibility reasonably satisfactory to Lessor: (A) all-risk ground and flight aircraft hull insurance covering the Aircraft; (B) fire, transit and extended coverage with respect to any Engine or Parts while removed from the Aircraft; and (C) at all times that the Aircraft or any Engine is not covered by the insurance described in Section 13.03, coverage against the perils of (i) strikes, riots, civil commotions or later disturbance, (ii) any vandalism, malicious act or act of sabotage, and (iii) hijacking, or any unlawful seizure or wrongful exercise of control of the Aircraft or crew in flight made by any person or persons on board the Aircraft without the consent of the insured other than hijacking committed by persons engaged in a program of irregular warfare for terrorist purposes. All such insurance shall be in full force and effect throughout any geographical areas at any time traversed by the Aircraft, shall be payable in dollars in the United States and shall be of the type and in such amount as is customarily carried and maintained by United States Air Carriers engaged in interstate and foreign air transportation and in the same or similar business and similarly situated with Lessee; provided that such insurance shall be for an amount not less than the Stipulated Loss Value (plus all other amounts due and payable pursuant to Section 12) per occurrence (the "Insured Value"). Lessee may self-insure, by way of deductible or premium adjustment provisions in insurance policies, in respect of damage not constituting an Event of Loss, the risks required to be insured against pursuant to the preceding two sentences in such reasonable amounts as are from time to time in effect in the aviation insurance industry generally with respect to other similar aircraft or engines, and which are customarily maintained by major United States commercial air carriers generally; provided, however, such deductibles shall not be
Insurance Against Loss or Damage to the Aircraft. (a) the Borrower shall at all times maintain or cause to be maintained in effect, at its expense, with insurers of recognized responsibility, "all-risk" aircraft hull insurance covering the Aircraft and "all-risk" coverage of Engines and Parts while temporarily removed from the Aircraft and not replaced by similar components, including, without limitation, war risk and governmental confiscation and expropriation and hijacking insurance, (if and to the extent that the Aircraft is operated outside the United States or Canada in an area where war risk insurance is customarily maintained by commercial operators), and fire, transit and extended coverage with respect to any Engines or Parts while removed from the Aircraft; provided, that such insurance shall at all times be for an amount not less than $9,000,000. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, the Lender shall hold any payment received by it of any insurance proceeds in respect of such loss for the account of the Borrower or any other third party that is entitled to receive such proceeds. Except during a period a Default or an Event of Default has occurred and is continuing, all losses will be adjusted with the insurers by the Borrower (giving due regard to the interests of the Lender). As between the Borrower and the Lender, it is agreed that all insurance payments received as a result of the occurrence of an Event of Loss will be applied as follows:
Insurance Against Loss or Damage to the Aircraft. The Company shall at all times cause the following to be maintained with respect to any Aircraft: (i) all-risk ground and flight aircraft hull insurance covering the airframe and engines of any such Aircraft; (ii) fire, transit and extended coverage with respect to any engines or parts while removed from such Aircraft; and (iii) war risk insurance, including, hijacking (air piracy), governmental confiscation and expropriation insurance.
Insurance Against Loss or Damage to the Aircraft. Borrower shall at all times cause the following to be maintained with respect to any Aircraft: (i) all-risk ground and flight aircraft hull insurance covering the airframe and engines of any such Aircraft; (ii) fire, transit and extended coverage with respect to any engines or parts while removed from such Aircraft; and (iii) war risk, hijacking (air piracy) and governmental confiscation and expropriation insurance.
