Common use of Mortgagee’s interest and additional perils insurances Clause in Contracts

Mortgagee’s interest and additional perils insurances. The Facility Agent shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, through such insurers and in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any Losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of the Owner, of any operator or manager of the Vessel or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or any other person referred to in subparagraph (i) above, or of any officer, employee or agent of an Owner or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 percent of the Loan) which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Loan, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to the aggregate of (i) 120 per cent. of the Loan and (ii) the principal amount secured by any equal or prior ranking Security Interest on the Ship) which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to (i) 110 per cent. of the Loan and (ii) the principal amount secured by any equal or prior ranking Security Interest on the Ship, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall if so authorised by the Majority Banks be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Banks may from time to time consider appropriate:appropriate (such insurances not to be placed by the Borrower or its brokers (in their capacity as brokers to the Borrower)): (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator operator, Charterer, Manager or sub-manager of the Vessel or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and; (b) where the Vessel is trading into the waters of the United States of America or any other jurisdiction which in the future introduces unlimited liability regimes, a mortgagee’s 's interest additional perils policy providing for the indemnification of the Finance Parties Agent against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing; (c) charter indemnity insurance, and the Borrower shall upon demand fully indemnify the Agent in respect of all premiums which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to the aggregate of (i) 120 per cent. of the Advance for the relevant Ship and (ii) the principal amount secured by any equal or prior ranking Security Interest on the Ship) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerBorrower owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to (i) 110 per cent. of the Advance for the relevant Ship and (ii) the principal amount secured by any equal or prior ranking Security Interest, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent. of the aggregate of the Facilities) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or Owner which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Borrower, each Owner, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the such Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an the Owner or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the aggregate of the Facilities, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount which is equal to 120 per cent. of the aggregate of (A) the Loan multiplied by a fraction whose: (1) nominator is the Market Value of the Ship owned by that Owner; and (2) denominator is the Market Value of all Mortgaged Ships and (B) the principal amount secured by any equal or prior ranking Security Interest on that Ship) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerBorrower owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount which is equal to 110 per cent. of the aggregate of (A) the Loan multiplied by a fraction whose: (1) nominator is the Market Value of the Ship owned by that Owner; and (2) denominator is the Market Value of all Mortgaged Ships and (B) the principal amount secured by any equal or prior ranking Security Interest on that Ship, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountinsurances, and on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in relation to each Ship in an amount of not less than 115 per cent. of the Tranche applicable to that Ship, providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel either Ship or a liability of the Vessel either Ship or the of either Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the an Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship owned by it or of any officer, employee or agent of the an Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or an Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an that Owner or of such a person, including the casting away or damaging of the Vessel Ship owned by it and/or the Vessel Ship owned by it being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s interest additional perils policy in relation to each Ship in an amount of not less than 120 per cent. of the Tranche applicable to that Ship, providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel a Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy, and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount which is equal to 120 per cent. of the aggregate of (A) the Loan multiplied by a fraction whose: (1) nominator is the Market Value of the Ship owned by that Owner; and (2) denominator is the Market Value of all Mortgaged Ships and (B) the principal amount secured by any equal or prior ranking Security Interest on that Ship) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerOwner owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the that Owner, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the that Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an that Owner or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount which is equal to 110 per cent. of the aggregate of (A) the Loan multiplied by a fraction whose: (1) nominator is the Market Value of the Ship owned by that Owner; and (2) denominator is the Market Value of all Mortgaged Ships and (B) the principal amount secured by any equal or prior ranking Security Interest on that Ship, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance in an amount of 110 per cent of the Loan providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownersuch Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or such Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner such Borrower or of such a person, including the casting away or damaging of the Vessel such Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s 's interest additional perils policy in an amount of not less than 110 per cent. of the Loan providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselsuch Ship, or the imposition of any Security Interest over the Vessel such Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall shall, in respect of each Vessel, be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the relevant Required Insurance Amount, and on such terms, through such insurers and in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any Losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the a Vessel or a liability of the a Vessel or the Ownera Borrower, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of an Owner or the OwnerManager or the Bareboat Charterer or a Borrower, of any other operator or manager of the any Vessel or of any officer, employee or agent of an Owner or the Owner Manager or the Bareboat Charterer or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of an Owner or the Owner Manager or the Bareboat Charterer or any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner or the Manager or the Bareboat Charterer or of such a person, including the casting away or damaging of the any Vessel and/or the any Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) where any Vessel is trading into the waters of the United States of America or any other jurisdiction which in the future introduces unlimited liability regimes, a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the any Vessel, or the imposition of any Security Interest over the any Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrowers shall (and the Guarantor shall procure that each Borrower shall) upon demand fully indemnify the Facility Agent in respect of all premiums which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall be entitledentitled (if so instructed by the Majority Lenders), from time to time and at the OwnerBorrower’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, through such insurers and in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any Losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator or manager of the Vessel or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner Borrower or any other person referred to in subparagraph (i) above, or of any officer, employee or agent of an Owner Borrower or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, such amounts as specified in this Clause 12.16 and on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in the amount of 110 per cent. of the Loan, providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent Lender of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent Lender of an the Owner or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy in the amount of 100 per cent. of the Loan, providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy; and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of not less than 120 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of not less than 110 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent. of the Loan) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerBorrower owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Loan, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in an amount equal to at least 120 per cent. of the Required Insurance Amountaggregate of (i) the Loan and (ii) the Swap Exposure, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in relation to the Ship in such amount as the Lender may consider appropriate, providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability in respect of the Vessel Ship or the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent Lender of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an the Owner or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s interest additional perils policy in relation to the Ship in such amount as the Lender may consider appropriate, providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in relation to the Ship providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document in an amount of up to 120 per cent. of the aggregate of: (i) the Loan; and (ii) the principal amount secured by any equal or prior ranking Security Interest on the Ship, which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel that or of the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (iA) any act or omission on the part of the Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (iiB) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an the Owner or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iiiC) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy insurance in relation to the Ship providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the aggregate of: (i) the Loan; and (ii) the principal amount secured by any equal or prior ranking Security Interest on the Ship, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall if so authorised by the Majority Banks be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Banks may from time to time consider appropriate:appropriate (such insurances not to be placed by the Borrower or its brokers (in their capacity as brokers to the Borrower)): (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator operator, Charterer, Manager or sub-manager of the Vessel or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) where the Vessel is trading into the waters of the United States of America or any other jurisdiction which in the future introduces unlimited liability regimes, a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties Agent against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing; (c) charter indemnity insurance, and the Borrower shall upon demand fully indemnify the Agent in respect of all premiums which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, through such insurers and in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any Losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation concerning: (i) any act or omission on the part of the Owner, of any operator or manager of the Vessel or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or any other person referred to in subparagraph (i) above, or of any officer, employee or agent of an Owner or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in an amount of not less than 120 per cent. of the aggregate of the Loan and the Outstandings providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel any Ship or a liability of the Vessel any Ship or the of any Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the any Owner, of any operator operator, charterer, manager or sub-manager of the Vessel any Ship or of any officer, employee or agent of the any Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or any Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an any Owner or of such a person, including the casting away or damaging of the Vessel any Ship and/or the Vessel any Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy in an amount of not less than 120 per cent. of the aggregate of the Loan and the Outstandings providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselany Ship, or the imposition of any Security Interest over the Vessel any Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance in relation to the Ship in an amount equal to 115 per cent. of the Loan providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the OwnerBorrower, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the OwnerBorrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent Lender of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s 's interest additional perils policy in relation to each Ship in an amount equal to 115 per cent. of the Loan, providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent shall be entitled, from time to time and at the Owner’s 's cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in the Required Insurance Amount, and on such terms, through such insurers and in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Parties for any Losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel or a liability of the Vessel or the OwnerOwner or the Bareboat Charterer, being a loss or damage which is prima facie covered by an Obligatory Insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any allegation anyallegation concerning: (i) any act or omission on the part of the Owner, or the Bareboat Charterer of any operator or manager of the Vessel or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure non­disclosure relating to such Obligatory Insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or the Bareboat Charterer or any other person referred to in subparagraph (i) above, or of any officer, employee or agent of an Owner or the Bareboat Charterer or of such a person, including the casting away or damaging of the Vessel and/or the Vessel being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy providing for the indemnification of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in respect of each Ship providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or the OwnerBorrower owning that Ship, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy policy, whether or not similar to the foregoing; , in an amount of up to 120 per cent. of the aggregate of: (A) the Advance relating to the Ship owned by it: and (B) the aggregate principal amount secured by Permitted Security Interests over that Ship which have a prior ranking to the Security Interests created by the Finance Documents, (the aggregate of (A) and (B) being the “Aggregate Insurable Amount”); (b) a mortgagee’s interest additional perils policy insurance in respect of each Ship providing for the indemnification of the Finance Creditor Parties against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy policy, whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Aggregate Insurable Amount; and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with, or with a view to, effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerBorrower owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in such amounts (but not exceeding 110 per cent. of the Required Insurance AmountLoan (at the time such insurance is taken out and then annually when any such insurance is reviewed thereafter) in the case of a mortgagee’s interest marine insurance and 110 per cent. of the Loan (at the time such insurance is taken out and then annually when any such insurance is reviewed thereafter) in the case of a mortgagee’s additional perils policy), and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Master Agreement or any Finance Document which directly or indirectly result from loss of or damage to the Vessel any Ship or a liability of the Vessel any Ship or the of any Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the any Owner, of any operator operator, charterer, manager or sub-manager of the Vessel any Ship or of any officer, employee or agent of the any Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or any Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an any Owner or of such a person, including the casting away or damaging of the Vessel any Ship and/or the Vessel any Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselany Ship, or the imposition of any Security Interest over the Vessel any Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy; and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance; Provided that any such insurance taken out by the foregoingSecurity Trustee shall be comparable in coverages and premium with the insurance policies required by the Security Trustee for other similarly situated borrowers.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: : (a) a mortgagee’s 's interest marine insurance in respect of each Ship providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or the OwnerBorrower owning that Ship, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: : (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insurance; obligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy policy, whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification , in an amount of up to 120 per cent. of the Finance Parties against, amongst other things, any Losses or other consequences of any Environmental Claim, including aggregate of: (A) the risk of expropriation, arrest or any form of detention of the Vessel, or the imposition of any Security Interest over the Vessel and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar Advance relating to the foregoing.Ship owned by it: and (B) the aggregate principal amount secured by Permitted Security Interests over that Ship which have a prior ranking to the Security Interests created by the Finance Documents, (the aggregate of (A) and (B) being the "Aggregate Insurable Amount");

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in an amount of 110 per cent of the Loan providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownersuch Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or such Borrower , any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner such Borrower or of such a person, including the casting away or damaging of the Vessel such Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s interest additional perils policy in an amount of not less than 110 per cent. of the Loan providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselsuch Ship, or the imposition of any Security Interest over the Vessel such Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent, of the aggregate of (i) the Loan and (ii) any Swap Exposure) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the aggregate of (i) the Loan and (ii) any Swap Exposure, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in an amount of 110 per cent of the Loan providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or Borrower which is the Ownerowner thereof, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownersuch Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner such Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or such Borrower , any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner such Borrower or of such a person, including the casting away or damaging of the Vessel such Ship and/or the Vessel such Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s interest additional perils policy in an amount of not less than 110 per cent. of the Loan providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselsuch Ship, or the imposition of any Security Interest over the Vessel such Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances for such amounts (being in the Required Insurance Amount, case of paragraph (a) below for an amount equal to 110% of the Loan) and on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an the Owner or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy; and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lenders shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Date, maintain and renew all or any of the following insurances in such amounts (but not less than the Required Insurance Amount, and amounts specified in the relevant paragraphs of this clause 13.16) on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance policy in an amount not less than 110 per cent. of the Loan providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an the Owner or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s interest additional perils policy in an amount not less that the Loan providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy; and the Borrower shall upon demand fully indemnify the Creditor Parties respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance in respect of each Ship providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or the OwnerCorporate Guarantor owning that Ship, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: (i) any act or omission on the part of the Ownerthat Corporate Guarantor, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Corporate Guarantor or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Corporate Guarantor, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Corporate Guarantor or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy policy, whether or not similar to the foregoing; , in an amount of up to 120 per cent. of the aggregate of: (A) the Loan: and (B) the aggregate principal amount secured by Permitted Security Interests over that Ship which have a prior ranking to the Security Interests created by the Finance Documents, (the aggregate of (A) and (B) being the "Aggregate Insurable Amount"); (b) a mortgagee’s 's interest additional perils policy insurance in respect of each Ship providing for the indemnification of the Finance Parties Lender against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy policy, whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Aggregate Insurable Amount; and the Borrower shall procure that each Corporate Guarantor shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with, or with a view to, effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. (a) The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (ai) a mortgagee’s 's interest marine insurance in respect of the Ship: (A) providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel Ship or a liability of the Vessel Ship or of the OwnerBorrower, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: (i1) any act or omission on the part of the OwnerBorrower, of any operator operator, charterer, manager or sub-manager of the Vessel Ship or of any officer, employee or agent of the Owner Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii2) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or Borrower, any other person referred to in subparagraph paragraph (i1) above, or of any officer, employee or agent of an Owner the Borrower or of such a person, including the casting away or damaging of the Vessel Ship and/or the Vessel Ship being unseaworthy; and/or (iii3) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy policy, whether or not similar to the foregoing; and (bB) in an amount of up to 120 per cent. of the Aggregate Insurable Amount in respect of the Ship; and (ii) a mortgagee’s 's interest additional perils policy insurance in respect of the Ship providing for the indemnification of the Finance Creditor Parties against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the VesselShip, or the imposition of any Security Interest over the Vessel Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy policy, whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Aggregate Insurable Amount in respect of the Ship, and the Borrower shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with, or with a view to, effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance. (b) For the purposes of paragraph (a) above "Aggregate Insurable Amount" means the aggregate of:

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document (in an amount of up to 120 per cent. of the Loan) which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of that Ship or of the Vessel or the OwnerBorrower owning that Ship, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment non­payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and (b) a mortgagee’s 's interest additional perils policy insurance providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing., and in an amount of up to 110 per cent. of the Loan, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance,

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountinsurances, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Security Trustee may from time to time consider appropriate: (a) a mortgagee’s 's interest marine insurance in an amount of not less than 110 per cent. of the Loan providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of the Vessel a Ship or the Ownerof a Borrower, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the Ownera Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel a Ship or of any officer, employee or agent of the Owner a Borrower or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or a Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner a Borrower or of such a person, including the casting away or damaging of the Vessel a Ship and/or the Vessel a Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s 's interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s 's interest additional perils policy insurance in an amount of not less than 110 per cent. of the Loan as may be required by the Agent providing for the indemnification of the Finance Creditor Parties against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselany Ship, or the imposition of any Security Interest over the Vessel any Ship and/or any other matter capable of being insured against under a mortgagee’s 's interest additional perils (pollution) policy whether or not similar to the foregoing, and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in respect of each Ship providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or the OwnerCorporate Guarantor owning that Ship, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: (i) any act or omission on the part of the Ownerthat Corporate Guarantor, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Corporate Guarantor or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Corporate Guarantor, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Corporate Guarantor or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy policy, whether or not similar to the foregoing; , in an amount of up to 120 per cent. of the aggregate of: (A) the Loan: and (B) the aggregate principal amount secured by Permitted Security Interests over that Ship which have a prior ranking to the Security Interests created by the Finance Documents, (the aggregate of (A) and (B) being the “Aggregate Insurable Amount”); (b) a mortgagee’s interest additional perils policy insurance in respect of each Ship providing for the indemnification of the Finance Parties Lender against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy policy, whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Aggregate Insurable Amount; and the Borrower shall procure that each Corporate Guarantor shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with, or with a view to, effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Security Trustee shall be entitled, entitled from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountsuch amounts, and on such terms, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lenders may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in respect of each Ship providing for the indemnification of the Finance Creditor Parties for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel a Ship or a liability of such Ship or of the Vessel or the OwnerBorrower owning that Ship, being a such loss or damage which is being prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any of, an allegation concerning: (i) any act or omission on the part of the Ownerthat Borrower, of any operator operator, charterer, manager or sub-manager of the Vessel that Ship or of any officer, employee or agent of the Owner that Borrower or of any such person, including any breach of warranty or condition or any non-disclosure nondisclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or that Borrower, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an Owner that Borrower or of such a person, including the casting away or damaging of the Vessel that Ship and/or the Vessel that Ship being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy policy, whether or not similar to the foregoing; , in an amount of up to 120 per cent. of the aggregate of: (A) the Advance relating to the Ship owned by it: and (B) the aggregate principal amount secured by Permitted Security Interests over that Ship which have a prior ranking to the Security Interests created by the Finance Documents, (the aggregate of (A) and (B) being the “Aggregate Insurable Amount”); (b) a mortgagee’s interest additional perils policy insurance in respect of each Ship providing for the indemnification of the Finance Creditor Parties against, amongst other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vesselthat Ship, or the imposition of any Security Interest over the Vessel that Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy policy, whether or not similar to the foregoing, and in an amount of up to 110 per cent. of the Aggregate Insurable Amount; and the Borrowers shall upon demand fully indemnify the Security Trustee in respect of all premiums and other expenses which are incurred in connection with, or with a view to, effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.

Mortgagee’s interest and additional perils insurances. The Facility Agent Lender shall be entitled, from time to time and at the Owner’s cost and expense, to effect from the Delivery Dateeffect, maintain and renew all or any of the following insurances in the Required Insurance Amountinsurances, and on such terms, conditions, through such insurers and generally in such manner as the Facility Agent (acting on the instructions of the Majority Lenders) Lender may from time to time consider appropriate: (a) a mortgagee’s interest marine insurance in relation to each Ship in an amount of not less than 110 per cent. of the Tranche applicable to that Ship, providing for the indemnification of the Finance Parties Lender for any Losses losses under or in connection with any Finance Document which directly or indirectly result from loss of or damage to the Vessel any Ship or a liability of the Vessel any Ship or the of any Owner, being a loss or damage which is prima facie covered by an Obligatory Insurance obligatory insurance but in respect of which there is a non-payment (or reduced payment) by the underwriters by reason of, or on the basis of any an allegation concerning: (i) any act or omission on the part of the an Owner, of any operator operator, charterer, manager or sub-manager of the Vessel Ship owned by it or of any officer, employee or agent of the an Owner or of any such person, including any breach of warranty or condition or any non-disclosure relating to such Obligatory Insuranceobligatory insurance; (ii) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of the Owner or an Owner, any other person referred to in subparagraph paragraph (i) above, or of any officer, employee or agent of an that Owner or of such a person, including the casting away or damaging of the Vessel Ship owned by it and/or the Vessel Ship owned by it being unseaworthy; and/or (iii) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing; and; (b) a mortgagee’s interest additional perils policy in relation to each Ship in an amount of not less than 110 per cent. of the Tranche applicable to that Ship, providing for the indemnification of the Finance Parties Lender against, amongst among other things, any Losses possible losses or other consequences of any Environmental Claim, including the risk of expropriation, arrest or any form of detention of the Vessela Ship, or the imposition of any Security Interest over the Vessel a Ship and/or any other matter capable of being insured against under a mortgagee’s interest additional perils (pollution) policy whether policy, and the Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other reasonable expenses which are incurred in connection with or not similar with a view to the foregoingeffecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance.