Launch Insurance Sample Clauses
Launch Insurance. Holdings will, or will cause the relevant Satellite Manufacturer to, obtain, maintain and keep in full force and effect with respect to each Covered Satellite that is to be launched, Launch Insurance (it being understood that if a Satellite Manufacturer procures Launch Insurance for Covered Satellites in accordance with the terms of this clause (ii), Holdings’ obligations under this clause (ii) with respect to such Covered Satellites shall be satisfied), to be procured prior to the launch of such Covered Satellite, which insurance shall attach not later than at Launch and continue in full force and effect until no sooner than the completion of initial in-orbit testing, provided that Holdings shall have no obligation to obtain or maintain Launch Insurance for any satellite for which there is neither risk of loss to Holdings or its Restricted Subsidiaries nor an obligation by Holdings or its Restricted Subsidiaries to make any payments to the Satellite Manufacturer that exceed $5.0 million in the aggregate prior to risk of loss passing to Holdings or its Restricted Subsidiaries. The Launch Insurance for each Covered Satellite:
(A) shall provide coverage for all of the risks of loss of and damage to such Covered Satellite (other than any risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer in accordance with the terms of the applicable Satellite Purchase Agreement), including for partial loss, constructive total loss and total loss, subject to (x) Acceptable Exclusions and (y) such other exclusions, deductibles or limitations of coverage as are then customary in the satellite insurance market and as are prudent, as reasonably determined by the Issuer;
(B) shall be in an amount not less than the aggregate of the purchase price of such Covered Satellite, the purchase price of launch services therefor (other than for risks borne by the relevant Launch Services Provider pursuant to any launch risk guarantee in accordance with the terms of the applicable Launch Services Agreement or by the relevant Satellite Manufacturer in accordance with the terms of the applicable Satellite Purchase Agreement) and the premium payable for such insurance;
(C) shall name the applicable Satellite Purchaser as the named insured;
(D) shall provide that it will not be cancelled or reduced, amended or allowed to lapse without renewal, ...
Launch Insurance. The Borrower will obtain, maintain and keep in full force and effect with respect to each Satellite that is to be launched, space risk insurance against loss of or damage to the Satellite (including any loss or damage which may occur to a Satellite during the period from Launch until Individual In-Orbit Acceptance) such space risk insurance (hereinafter in this Clause 21.4 “Launch Insurance”). Launch Insurance shall be bound no later than three (3) Months prior to the then scheduled Launch date of such Satellite. The Launch Insurance shall include in-orbit cover providing for:
Launch Insurance. At ORBCOMM's option, OHB shall provide launch insurance covering the Spacecraft Buses and Launch Services. ORBCOMM shall be responsible to pay for such insurance. OHB shall provide ORBCOMM with quotations for such insurance upon request by ORBCOMM therefore. In the event ORBCOMM orders such insurance, such insurance shall be maintained by OHB through launch plus ___ days after launch. ORBCOMM shall be named as an additional insured with regard to such insurance and OHB shall provide to ORBCOMM proof of such insurance upon request. OHB shall direct the carrier(s) to pay directly to ORBCOMM all proceeds which are to be paid from such insurance due to any and all claims made thereunder.
Launch Insurance any interest on the pre-Launch deferred payments;
Launch Insurance. (a) Customer shall be responsible for procuring Launch Insurance for each Satellite and shall secure a binder for such insurance at least sixty (60) Calen dar Days before the applicable Launch Date for such Satellite. Contractor shall be named as additional insured on such Launch Insurance policy and Customer shall require its Insurers to waive all rights of subrogation against Contractor. Contractor shall, at the written request of Customer, provide Customer with reasonable assistance (such as providing required technical information) in Customer's efforts to procure Launch Insurance, and support at Customer's meetings with Insurers, if necessary.
(b) Without limiting any other Contractor obligations under this Article 25 (Insurance) and in order to comply with insurance requirements, Contractor shall, as part of the Pre-Eclipse Test Report or Post-Eclipse Test Report, specify the basis for Partial Loss, Constructive Total Loss or Total Loss, the definition of which shall have been provided by Customer to Contractor. Notwithstanding Contractor's specifying such basis, Customer shall make the final determination of whether a Partial Loss, Constructiv e Total Loss or Total Loss has occurred.
(c) Such notices of loss shall comply with the provisions of Article 34.7 (Notices), and the foregoing specified time for the provision of notice may be shortened in compliance with the respective requirements of such Insurers.
Launch Insurance. Upon receipt of a written request from I-COGC, Hughxx shall submit a proposal to I-COGC for the provision of launch insurance for the Launch Services provided herein. Such proposal shall assume that the launch insurance shall be obtained by Hughxx xx behalf of I-COGC and that I-COGC shall be the named insured. The written request from I-COGC shall identify the Launch Services, the coverage timing and the coverage amounts of such launch insurance policy. Any Hughxx xxxposal shall be based upon the actual launch insurance cost to Hughxx xxx shall include an additional Management Services fee equal to * of the actual launch insurance cost. I-COGC shall notify Hughxx xxxther it accepts or rejects any Hughxx xxxposal within thirty (30) Days of receipt of such proposal or by the offer validity date provided by the relevant insurance underwriters, whichever is sooner. For the purposes of this Paragraph, launch insurance may also include any relaunch, repayment or other type of insurance program offered by any Launch Service Provider.
Launch Insurance. (a) The Borrower will obtain, maintain and keep in full force and effect with respect to (i) the Spaceway 4 Satellite and (ii) any Satellite being launched to replace the Spaceway 3 Satellite, space risk insurance against loss of or damage to such Satellite covering all risks of physical loss of or damage to each such Satellite until 12 months after launch, subject only to Acceptable Exclusions.
(b) The Launch Insurance in respect of any Satellite replacing the Spaceway 3 Satellite, before December 31, 2022 shall be bound no later than 3 (three) months prior to the then scheduled launch date of such Satellite and shall be for an amount to be determined in accordance with prudent business practices, taking into account the self insurance capacity of the Borrower, after consultation with the Facility Agent and the Intercreditor Agent. The Borrower shall submit evidence of cover, being either the broker’s issued policy documentation cover note, binder or policy documents issued by the relevant insurer and/or certificate issued by the Borrower’s broker to the Facility Agent and the Intercreditor Agent upon request.
(c) The Launch Insurance in relation to the Spaceway 4 Satellite shall:
(i) include in-orbit cover remaining in effect until the date that falls one year from the commencement of the cover under such Launch Insurance, and be placed, together with the payment of the required premium in full and be in full force and effect not later than 3 (three) months prior to the scheduled Launch Date of the Spaceway 4 Satellite (as such date may be modified from time to time in accordance with the terms of the Launch Contract);
(ii) be on terms reasonably commercially available and acceptable to the Facility Agent (acting on the instructions of the Lenders, acting reasoneably) following consultation with the Insurance Advisor and to the Intercreditor Agent;
(iii) become effective from the time that is the earlier of (x) the time designated by the Launch Supplier during the launch sequence when the order to ignite solid propellant booster(s) is sent if such event follows ignition of the Vulcain engine of the Launch Vehicle (as such term is defined in the Launch Contract) that has been integrated with Spaceway 4 Satellite and with other satellite(s) and (y) the time that the cover with respect to the Spaceway 4 Satellite expires (including in the event of a terminated ignition) under the insurance procured by the manufacturer of the Spaceway 4 Satellite or under th...
Launch Insurance. Upon receipt of written request from ICOGC, Hughxx shall submit a proposal to ICOGC for the provision of launch insurance for the Launch Services provided herein. Such proposal shall assume that the launch insurance shall be obtained by Hughxx xx behalf of ICOGC and that ICOGC shall be the named insured. The written request from ICOGC shall identify the Launch Services, the coverage timing and the coverage amounts of such launch insurance policy. Any Hughxx xxxposal shall be based upon the actual launch insurance cost to Hughxx xxx shall include an additional Management Services fee equal to * of the actual launch insurance cost. ICOGC shall notify Hughxx xxxther it accepts or rejects any Hughxx xxxposal within thirty (30) Days of receipt of such proposal or by the offer validity date provided by the relevant insurance underwriters, whichever is sooner. For the purposes of this Paragraph, launch insurance may also include any relaunch, repayment or other type of insurance program offered by any Launch Service Provider.
Launch Insurance. The Borrower will, or will cause the relevant Satellite manufacturer to, obtain, maintain and keep in full force and effect with respect to each Satellite that is to be launched, space risk insurance against loss of or damage to the Satellite (it being understood that if the applicable Satellite manufacturer procures such space risk insurance for the applicable Satellites in accordance with the terms of this Subsection (b)(ii), the Borrower's obligations with respect to such Satellite shall be satisfied), such space risk insurance (hereinafter in this Section 9.3 "Launch Insurance") to be procured prior to the then-scheduled launch of such Satellite, which insurance shall be in accordance with terms commercially available and reasonably acceptable to the Required Lenders The Borrower shall not be obligated to obtain, maintain or keep in force space risk insurance on any Satellite after termination of risk of the relevant Launch Insurance policy. The foregoing notwithstanding, if the board of directors determines in good faith as evidenced by a board resolution delivered to the Administrative Agent not to procure Launch Insurance for a specified Satellite and the Required Lenders approve in writing of such election, the provisions of this Section 9.3(b)(ii) shall not apply to such Satellite. The Launch Insurance for each Satellite:
(A) shall be in an amount not less than the aggregate of the purchase price of such Satellite, the purchase price of launch services therefor (other than for risks borne by the relevant launch services provider pursuant to any launch risk guarantee in accordance with the terms of the applicable launch services agreement or by the relevant Satellite manufacturer in the premium payable for such insurance, and subject to any then customary deductible but in no event in an amount exceeding 15% of such Satellite, unless otherwise agreed by the Administrative Agent;
Launch Insurance. ORION shall have the responsibility to procure Launch Insurance. Failure to secure a binder for Launch Insurance by sixty (60) days before the Launch Date shall be deemed an Excusable Delay, which Excusable Delay shall extend from the sixtieth (60th) day before the Launch Date until the date such insurance is so secured and written verification thereof is provided to the Contractor.