Common use of Insurance by Security Trustee Clause in Contracts

Insurance by Security Trustee. The Security Trustee shall not be under any obligation to insure any of the Secured Collateral, to require any other Person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Documents. The Security Trustee shall not be responsible for any loss that may be suffered by any Person as a result of the lack of or inadequacy of any such insurance.

Appears in 3 contracts

Samples: Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Amendment and Restatement Agreement (Pacific Drilling S.A.)

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Insurance by Security Trustee. (a) The Security Trustee shall not be under any obligation to insure any of the Secured CollateralCharged Property, to require any other Person person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Documents. The Security Trustee shall not be responsible for any loss that which may be suffered by any Person person as a result of the lack of or inadequacy of any such insurance.

Appears in 2 contracts

Samples: Multi Currency Term, Revolving Credit Facilities Agreement (Iron Mountain Inc/Pa), Secured Facilities Agreement (Solutia Inc)

Insurance by Security Trustee. 8.11.1 The Security Trustee shall not be under any obligation to insure any of the Secured CollateralCharged Property, to require any other Person person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Transaction Finance Documents. The Security Trustee shall not be responsible for any loss that which may be be. suffered by any Person person as a result of the lack of or inadequacy of any such insurance.

Appears in 1 contract

Samples: First Priority Share Mortgage (WSP Holdings LTD)

Insurance by Security Trustee. The Security Trustee shall not be under any obligation to insure any of the Secured CollateralCharged Property, to require any other Person person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Documents. The Security Trustee shall not be responsible for any loss that which may be suffered by any Person person as a result of the lack of or inadequacy of any such insurance.

Appears in 1 contract

Samples: £200,000,000 Multi Currency Term, Revolving Credit Facilities Agreement (Iron Mountain Inc)

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Insurance by Security Trustee. 28.12.1 The Security Trustee shall not be under any obligation to insure any of the Secured CollateralCharged Property, to require any other Person person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Documents. The Security Trustee shall not be responsible for any loss that which may be suffered by any Person person as a result of the lack of or inadequacy of any such insurance.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Validus Holdings LTD)

Insurance by Security Trustee. The Security Trustee shall not be under any obligation to insure any of the Secured Collateral, to require any other Person person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Transaction Documents. The Security Trustee shall not be responsible for any loss that Loss which may be suffered by any Person person as a result of the lack of, avoidance of or inadequacy of any such insurance.

Appears in 1 contract

Samples: PDP Facility Agreement (Allegiant Travel CO)

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