Maintenance of obligatory insurances. Each Borrower shall keep the Ship owned by it insured at the expense of that Borrower against:
(a) fire and usual marine risks (including hull and machinery and excess risks);
(b) war risks;
(c) protection and indemnity risks;
(d) any other risks against which the Security Trustee considers, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Security Trustee be reasonable for that Borrower to insure and which are specified by the Security Trustee by notice to that Borrower.
Maintenance of obligatory insurances. Each Borrower shall keep the Ship owned by it insured at the expense of that Borrower against:
(a) fire and usual marine risks (including hull and machinery and excess risks);
(b) war risks (including, without limitation, protection and indemnity war risks with a separate limit not less than hull value of the relevant Ship);
(c) protection and indemnity risks (including, without limitation, protection and indemnity war risks in excess of the amount for war risks (hull) and oil pollution liability risks) in each case in the highest amount available in the international insurance market; and
(d) any other risks the insurance of which the Security Trustee (acting on the instructions of the Majority Lenders), having regard to practices, recommendations and other circumstances prevailing at the relevant time, may from time to time require by notice to that Borrower.
Maintenance of obligatory insurances. The Borrower shall procure that each Owner keep the Ship owned by it insured at the expense of that Owner against:
(a) fire and usual marine risks (including hull and machinery and excess risks);
(b) war risks (including protection and indemnity war risks);
(c) in the case of protection and indemnity war risks, in an amount equal to the amount for which the war risks under the hull policies are effected;
(d) protection and indemnity risks including protection and indemnity war risks cover in excess of the amount for war risks (hull) and including cover for oil pollution liability risks; and
(e) any other risks against which the Majority Lenders consider, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Majority Lenders be reasonable for the relevant Owner to insure and which are specified by the Security Trustee by notice to the relevant Owner.
Maintenance of obligatory insurances. Each Borrower shall keep the Ship owned by it insured at its expense against:
Maintenance of obligatory insurances. The Borrower shall procure that each Guarantor shall keep the Ship owned by it insured at the expense of that Guarantor against:
(a) fire and usual marine risks (including hull and machinery and excess risks);
(b) war risks;
(c) protection and indemnity risks;
(d) any other risks against which the Lender considers, acting reasonably and having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Lender be reasonable for the relevant Guarantor to insure and which are specified by the Lender by notice to the Borrower.
Maintenance of obligatory insurances. The Borrower shall procure that each Owner keep the Ship owned by it insured at the expense of that Owner against:
(a) fire and usual marine risks (including hull and machinery and excess risks);
(b) war risks (including protection and indemnity war risks);
(c) in the case of protection and indemnity war risks, in an amount equal to the amount for which the war risks under the hull policies are effected; and
(d) any other risks against which the Majority Lenders consider, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Majority Lenders be reasonable for the relevant Owner to insure and which are specified by the Security Trustee by notice to the relevant Owner.
Maintenance of obligatory insurances. Each Borrower shall keep the Ship owned by it insured at its expense for and against:
(a) hull and machinery risks, plus freight interest and hull interest and any other usual marine risks such as excess risks;
(b) war risks (including the London Blocking and Trapping addendum or similar arrangement);
(c) full protection and indemnity risks (including liability for oil pollution and excess war risk P&I cover) on standard Club Rules, covered by a Protection and Indemnity association which is a member of the International Group of Protection and Indemnity Associations (or, if the International Group ceases to exist, any other leading protection and indemnity association or other leading provider of protection and indemnity insurance) (including, without limitation, the proportion (if any) of any collision liability not covered under the terms of the hull cover), or other with written consent from the Agent;
(d) freight, demurrage & defense risks;
(e) risks covered by mortgagee’s interest insurance (M.I.I.) (as provided in Clause 13.16 below);
(f) risks covered by mortgagee’s interest additional perils (pollution) (M.A.P.) (as provided in Clause 13.16 below); and
(g) any other risks against which the Security Trustee considers, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Security Trustee be reasonable for the Borrowers to insure and which are specified by the Security Trustee by notice to the Borrowers (such as political risks and mortgage rights insurance).
Maintenance of obligatory insurances. Each Borrower shall keep the Ship owned by it, at all times during the Security Period, insured at the expense of that Borrower against:
(a) fire and usual marine risks (including hull and machinery and excess risks); and
(b) war risks; and
(c) protection and indemnity mean the usual risks including liability for oil pollution and excess war risk P&I cover; and
(d) any other risks against which the Lenders consider, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Lenders be reasonable for that Borrower to insure and which are specified by the Security Trustee by notice to that Borrower.
Maintenance of obligatory insurances. The Borrower shall procure that each Owner will keep the Ship owned by it insured at the expense of that Owner against:
(a) fire and usual marine risks (including hull and machinery and excess risks); and
(b) war risks; and
(c) protection and indemnity risks in excess of the limit of cover for oil pollution liability risks included within the protection and indemnity risks; and
(d) any other risks against which the Majority Lenders consider, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Majority Lenders be reasonable for that Owner to insure and which are specified by the Security Trustee by notice to that Owner.
Maintenance of obligatory insurances. The Borrower shall procure that the Owner shall keep the Ship insured at the expense of the Owner against:
(a) fire and usual marine risks (including hull and machinery and excess risks); and
(b) war risks; and
(c) protection and indemnity risks in excess of the limit of cover for oil pollution liability risks included within the protection and indemnity risks; and
(d) any other risks against which the Lender considers, having regard to practices and other circumstances prevailing at the relevant time, it would in the opinion of the Lender be reasonable for the Owner to insure and which are specified by the Lender by notice to the Owner.
