LOSS OF HIRE INSURANCE. The Managers shall procure, at the Owners’ expense, loss of hire insurance on behalf of Owners on terms and conditions as requested by the Owners subject to the availability of such coverage on commercially reasonable terms. The Managers shall not be responsible for any deductible payments with respect to such loss of hire insurance. The Managers shall arrange for loss of hire insurance, with a deductible of 14 days and maximum coverage of 120 days, to be in place as of the effective date of this Agreement.
Appears in 4 contracts
Samples: Ship Management Agreement (Double Hull Tankers, Inc.), Ship Management Agreement (Double Hull Tankers, Inc.), Ship Management Agreement (Double Hull Tankers, Inc.)
LOSS OF HIRE INSURANCE. The Managers shall procure, at the Owners’ expense, loss of hire insurance on behalf of Owners on terms and conditions as requested by the Owners subject to the availability of such coverage on commercially reasonable terms. The Managers shall not be responsible for any deductible payments with respect to such loss of hire insurance. The Managers shall arrange for loss of hire insurance, with a deductible of 14 days 21days and maximum coverage of 120 days, to be in place as of the effective date of this Agreement.
Appears in 2 contracts
Samples: Ship Management Agreement (Double Hull Tankers, Inc.), Ship Management Agreement (Double Hull Tankers, Inc.)
LOSS OF HIRE INSURANCE. The Managers shall procure, at the Owners’ expense, loss of hire insurance on behalf of Owners on terms and conditions as requested by the Owners subject to the availability of such coverage on commercially reasonable terms. The Managers shall not be responsible for any deductible payments with respect to such loss of hire insurance. The Managers shall arrange for loss of hire insurance, with a deductible of 14 21 days and maximum coverage of 120 days, to be in place as of the effective date of this Agreement.
Appears in 2 contracts
Samples: Ship Management Agreement (Double Hull Tankers, Inc.), Ship Management Agreement (Double Hull Tankers, Inc.)
