Common use of Loss Payable Clauses Clause in Contracts

Loss Payable Clauses. Each Assignor shall ensure that: all Insurances, as such Insurances relate to the Collateral Rig, in respect of hull and machinery (including hull interest insurance, increased value insurance, freight interest insurances, if any and war risk) shall contain a loss payable clause in substantially the form attached hereto as Exhibit 1. Insurances for the Collateral Rig in respect of:

Loss Payable Clauses. Each The Assignor shall ensure that: (a) all Insurances, as such Insurances relate to the Collateral Rig, in respect of hull and machinery (including hull interest insurance, increased value insurance, freight interest insurances, if any insurance and war risk) shall contain a loss payable clause in substantially the form attached hereto as Exhibit 1. ; and (b) all Insurances for the Collateral Rig in respect of:loss of hire shall contain a loss payable clause in substantially the form attached hereto as Exhibit 2.