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

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee's interest marine insurance and a mortgagee's interest additional perils insurance in such amounts (being not less than: (A) 110 per cent. of the Loan if no Hedging Agreement has been entered into and (B) 120 per cent. of the aggregate of the Loan and Hedging Close Out Liabilities if a Hedging Agreement has been entered into), on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may from time to time consider appropriate.

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee's ’s interest marine insurance and a mortgagee's ’s interest additional perils insurance each in such amounts (being not less than: (A) 110 per cent. of the Loan if no Hedging Agreement has been entered into and (B) an amount equal to 120 per cent. , of the aggregate of (i) the Loan and Hedging Close Out Liabilities if a Hedging Agreement has been entered into)(ii) any Swap Exposure, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may from time to time consider appropriate.