Common use of Insurance claims during requisition Clause in Contracts

Insurance claims during requisition. If the Ship shall be requisitioned for hire, insurance recoveries in respect of all claims whatsoever (otherwise than in respect of a Total Loss) arising during the period of requisition shall (to the extent to which such recoveries have not been expended by the Lessee in repairs to the Ship and to the extent the Ship is still requisitioned for hire at the end of the Lease Period) be paid to the Lessor and in respect of any amount so paid the Lessee shall to that extent be relieved from its repair obligations under the last sentence of clause 18.1 and under clause 20.3.

Appears in 5 contracts

Samples: April 2003 (Golar LNG LTD), Dated April (Golar LNG LTD), Dated April 2003 (Golar LNG LTD)

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