Protection and Indemnity Risks Clause Samples

Protection and Indemnity Risks. Payment of any recovery which [l], of [l] (the “Owner”) is entitled to make out of the funds of the Association in respect of any liability, costs or expenses incurred by the Owner, shall be made to the Owner or to its order, unless and until the Association receives notice to the contrary from FBB-First

Protection and Indemnity Risks. Amounts payable under any insurance on the Vessel with respect to protection and indemnity risks may be paid directly to the Owner to reimburse it for any loss, damage or expense incurred by it and covered by such insurance or to the person to whom any liability covered by such insurance has been incurred; PROVIDED, HOWEVER, that if the

Protection and Indemnity Risks. Payment of any recovery in respect of protection and indemnity risks which .................. (the “Owner”) is entitled to make out of the funds of the Insurers in respect of any liability, costs or expenses incurred by the Owner, shall be made to the Owner or to its order unless and until the Insurer receives notice to the contrary from EGNATIA BANK S.A. (the “Mortgagee”) in which event all recoveries shall thereafter be paid to the Mortgagee or to its order; provided that no liability whatsoever shall attach to the Insurers or its agents for failure to comply with the latter obligation until the expiry of two clear business days from the receipt of such notice.

Protection and Indemnity Risks. Payment of any recovery in respect of protection and indemnity risks which ADVENTURE FOUR S.A. of the Republic of The M▇▇▇▇▇▇▇ Islands (the “Owner”) is entitled to make out of the funds of the Insurers in respect of any liability, costs or expenses incurred by the Owner, shall be made to the Owner or to its order unless and until the Insurer receives notice to the contrary from EGNATIA BANK S.A. (the “Mortgagee”) in which event all recoveries shall thereafter be paid to the Mortgagee or to its order; provided that no liability whatsoever shall attach to the Insurers or its agents for failure to comply with the latter obligation until the expiry of two clear business days from the receipt of such notice.

Protection and Indemnity Risks. Payment of any recovery which …………. of ………….. (the "Owner") is entitled to make out of the funds of the Association in respect of any liability, costs or expenses incurred by the Owner, shall be made to the Owner or to its order, unless and until the Association receives notice to the contrary from CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK acting through its office at ………………, Paris, France (the "Mortgagee") in which event all recoveries shall thereafter be paid to the Mortgagee or to its order; provided that no liability whatsoever shall attach to the Association, its managers or their agents for failure to comply with the latter obligation until the expiry of two clear business days from the receipt of such notice.