Insurance opinion. At least once annually during the Term, Owner shall deliver to Charterer an opinion of an internationally recognized independent marine insurance broker to the effect that the insurances carried by Owner with respect to the Vessel and its operations conform with the requirements of this Schedule IV and that the Compulsory Insurances conform with insurances which prudent owners and operators engaged in the LNG trade should carry for vessels of the type, size, class and age of the Vessel, which take into consideration operation of the Vessel as an LNGRV, and are placed with underwriters who meet the brokers’ minimum financial standards.
Appears in 4 contracts
Samples: LNG Regassification Vessel Time Charter Party (Exmar Energy Partners LP), LNG Regassification Vessel Time Charter Party (Exmar Energy Partners LP), LNG Regassification Vessel Time Charter Party (Exmar Energy Partners LP)
Insurance opinion. At least once annually during the Term, Owner shall deliver to Charterer an opinion of an internationally recognized independent (not owned by or affiliated with Owner or manager) marine insurance broker to the effect that the insurances carried by Owner with respect to the Vessel and its operations conform with the requirements of this Schedule IV and that the Compulsory Reimbursable Insurances conform with insurances which prudent owners and operators engaged in the LNG trade should carry for vessels of the type, size, class and age of the Vessel, which take into consideration operation of the Vessel as an LNGRVSRV, and are placed with underwriters who meet the brokers’ minimum financial standards.
Appears in 2 contracts
Samples: Time Charterparty (Hoegh LNG Partners LP), Time Charterparty (Hoegh LNG Partners LP)
