Obligatory Insurances. The Borrower shall keep the Ship insured at its expense against: (a) usual marine risks (including hull and machinery, hull interest, freight interest, disbursements and/or increased value, other Total Loss interests and war risks) in an amount equal to or more than 120 per cent. of the aggregate amount of the Loans at any time; (b) protection and indemnity risks in respect of the full tonnage of the Ship; and (c) loss of earnings, in such amount as may be approved by the Lenders (acting reasonably) with a deductible period of 30 days and a cover period of 180 days, such insurances to be in dollars and effected on such contractual terms and through such insurers and war risks and protection and indemnity associations as the Majority Lenders may approve.
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement, Facility Agreement (Hoegh LNG Partners LP)
