Common use of Loss Payable Clauses Clause in Contracts

Loss Payable Clauses. The Assignor shall ensure that: (1) all Insurances, except entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of such entries, relating to the Vessel shall contain a loss payable and notice of cancellation clause in substantially the form annexed hereto as Exhibit 1.

Loss Payable Clauses. The Assignor shall ensure that: (1a) all Insurances, except entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of as such entries, relating Insurances relate to the Vessel Vessel, in respect of hull and machinery (including increased value insurance and war risk) shall contain a loss payable and notice of cancellation clause in substantially the form annexed attached hereto as Exhibit 1; and (b) all Insurances in respect loss of hire shall contain a loss payable clause in substantially the form attached hereto as Exhibit 2.

Loss Payable Clauses. The Assignor shall ensure that: (1a) all Insurances, except entries in Protection and Indemnity Associations or Clubs or insurances effected in lieu of as such entries, relating Insurances relate to the Vessel Vessel, in respect of hull and machinery (including increased value insurance) shall contain a loss payable and notice of cancellation clause in substantially the form annexed attached hereto as Exhibit 1; and (b) all Insurances in respect loss of hire shall contain a loss payable clause in substantially the form attached hereto as Exhibit 2.