Common use of P&I Clause in Contracts

P&I. the Guarantor or the Approved Manager or any other person fails or omits to comply with any requirements of the protection and indemnity association or other insurer with which the Vessel is entered for insurance or insured against protection and indemnity risks (including oil pollution risks) to the effect that any cover (including, without limitation, any cover in respect of liability for Environmental Claims arising in jurisdictions where the Vessel operates or trades) is or may be liable to cancellation, qualification or exclusion at any time; or

P&I. the either Guarantor or the Approved Manager or any other person fails or omits to comply with any requirements of the protection and indemnity association or other insurer with which the either Vessel is entered for insurance or insured against protection and indemnity risks (including oil pollution risks) to the effect that any cover (including, without limitation, any cover in respect of liability for Environmental Claims arising in jurisdictions where the either Vessel operates or trades) is or may be liable to cancellation, qualification or exclusion at any time; or

P&I. the Borrower or the Guarantor or the Approved Manager or any other person fails or omits to comply with any requirements of the protection and indemnity association or other insurer with which the a Mortgaged Vessel is entered for insurance or insured against protection and indemnity risks (including oil pollution risks) to the effect that any cover (including, without limitation, any cover in respect of liability for Environmental Claims arising in jurisdictions where the such Mortgaged Vessel operates or trades) is or may be liable to cancellation, qualification or exclusion at any time; or