Mortgagee’s interest insurance. 20.1 In respect of each Vessel, the Security Agent, acting on the instructions of the Facility Agent, shall be entitled from time to time (at the reasonable cost and expense of the Borrower and at no cost or expense to any Finance Party, hereunder in respect of all premiums and other expenses that are incurred in effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any such insurance) to effect, maintain and renew mortgagee’s interest marine insurance providing for the indemnification of the Finance Parties for any losses under or in connection with any Finance Document that directly or indirectly result from loss, of or damage to, a Vessel or a liability of a Vessel, a Guarantor or the Borrower, being a loss or damage that is prima facie covered by a Required 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:
(a) any act or omission on the part of a Guarantor or the Borrower, of the manager of any Vessel or of any officer, employee or agent of any such person, including any breach of warranty or condition or any non-disclosure relating to such Required Insurance;
(b) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of a Guarantor or the Borrower, of the manager or of any officer, employee or agent of any such person, including the casting away or damaging of any Vessel and/or any Vessel being unseaworthy; or
(c) any other matter that is insured against under a mortgagee’s interest marine insurance policy from time to time generally available, whether or not similar to the foregoing, on market standard terms, in such manner as the Security Agent may from time to time consider appropriate, in the Required Insurance Amount for such insurance through such insurers as may be available to the Security Agent.
20.2 To the extent reasonably practicable, the Security Agent shall give notice to the Borrower before effecting any policy of insurance in accordance with this Clause 20 and, with any such notice, shall give details of the costs and expenses associated with such policy. Neither the Security Agent’s rights nor the Borrower’s obligations under this Clause 20 (including the Borrower’s obligation to bear any costs and expenses associated with effecting, maintaining and renewing any insurances taken out in accordance with this Clause 20) shall be impair...
Mortgagee’s interest insurance. The Security Trustee (acting on behalf of all the Lenders) shall be entitled, at the Borrower’s cost, from time to time to effect, maintain and renew a mortgagee’s interest and pollution risks insurance policy (including additional perils (pollution) cover) in an amount equal to at least 120% of the Loan such terms, through such insurers and generally in such manner as the Security Trustee may from time to time consider appropriate.
Mortgagee’s interest insurance. Mortgagee’s additional perils insurance
Mortgagee’s interest insurance. The Agent may (acting upon the instructions of the Majority Lenders) effect (for the cost of the Lenders) mortgagee's interest insurance (including mortgagee's interest additional perils insurance) in respect of the Ship in an amount of up to 120 per cent. of the aggregate amount of the Loans upon such terms and through such insurers as the Agent may deem appropriate.
Mortgagee’s interest insurance. Mortgagee’s Interest Insurance in relation to each Vessel, providing for the indemnification of the Administrator and the United States for any losses under or in connection with this Agreement which directly or indirectly result from loss of or damage to any Vessel or a liability of any Vessel or of the Shipowner, where the loss or damage is required to be covered by an obligatory insurance policy but of which there is a non-payment (or reduced payment) by the underwriters because of:
(A) any act or omission on the part of the Shipowner, of any operator, charterer, manager or sub-manager of the Vessel owned by it or of any officer, employee or agent of a Shipowner, or of any such person, including any breach of warranty or condition or any non-disclosure relating to such obligatory insurance;
(B) any act or omission, whether deliberate, negligent or accidental, or any knowledge or privity of a Shipowner, any other person referred to in Subsection (i) above, or of any officer, employee or agent of that Shipowner, or of such a person, including either the casting away or damaging of the Vessel or the Vessel being unseaworthy; or
(C) any other matter capable of being insured against under a mortgagee’s interest marine insurance policy whether or not similar to the foregoing. The underwriters for Mortgagee’s Interest Insurance shall be the same underwriter as the Hull & Machinery and War Risk underwriters, unless otherwise approved in writing by the Administrator.
Mortgagee’s interest insurance. The Security Trustee shall be entitled from time to time to effect, maintain and renew a mortgagee's interest marine insurance in an amount not less than 120 per cent. of the Loan on such terms, through such insurers and generally in such manner as the Security Trustee may from time to time consider appropriate and each Borrower shall upon demand fully indemnify the Creditor Parties 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 insurance. Mortgagee’s Additional Perils (Pollution) Interest Insurance
Mortgagee’s interest insurance. The Borrower shall indemnify the Lender for the cost of any mortgagee’s interest insurance (including mortgagee’s interest additional perils insurance) which the Lender may effect in respect of the Vessel in an amount of up to 100% of the Loan upon such terms and through such insurers as the Lender may deem appropriate.
Mortgagee’s interest insurance. The Security Trustee shall be entitled from time to time to and shall if instructed to do so by any Lender effect, maintain and renew a mortgagee’s interest insurance in such amounts (not exceeding 120 per cent. of the Loan), on such terms, through such insurers and generally in such manner as the Agent may from time to time consider appropriate 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 insurance. The Lender shall be entitled from time to time to effect, maintain and renew a mortgagee’s interest insurance policy on any Ship in such amounts which the Lender may from time to time consider appropriate (such amount to be equal to or greater than 120 per cent, of the Facility) such policy to be on such terms, through such insurers and generally in such manner as the Lender may from time to time consider appropriate. 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.
