Common use of Renewal of obligatory insurances Clause in Contracts

Renewal of obligatory insurances. The Borrower shall in respect of each Mortgaged Vessel bareboat chartered by it: (i) at least 21 days before the expiry of any obligatory insurance effected by it, notify OFID of the brokers and any protection and indemnity or war risks association through or with whom the Borrower proposes to renew that insurance and of the proposed terms of renewal; and (ii) procure that the approved brokers and/or the war risks and protection and indemnity associations with which such a renewal is effected shall notify OFID in writing of the terms and conditions of the renewal promptly after the renewal.

Renewal of obligatory insurances. The Each Borrower shall in respect of each that owns a Mortgaged Vessel bareboat chartered by itshall: (i) at least 21 days before the expiry of any obligatory insurance effected by it, notify OFID IFC of the brokers and any protection and indemnity or war risks association through or with whom the such Borrower proposes to renew that insurance and of the proposed terms of renewal; and (ii) procure that the approved brokers and/or the war risks and protection and indemnity associations with which such a renewal is effected shall notify OFID IFC in writing of the terms and conditions of the renewal promptly after the renewal.

Renewal of obligatory insurances. The Borrower Each of the Borrowers shall in respect of each Mortgaged Vessel bareboat chartered owned by it: (i) at least 21 days before the expiry of any obligatory insurance effected by it, notify OFID IFC of the brokers and any protection and indemnity or war risks association through or with whom the Borrower proposes Borrowers propose to renew that insurance and of the proposed terms of renewal; and (ii) procure that the approved brokers and/or the war risks and protection and indemnity associations with which such a renewal is effected shall notify OFID IFC in writing of the terms and conditions of the renewal promptly after the renewal.

Renewal of obligatory insurances. The Borrower Each of the Borrowers shall in respect of each Mortgaged Vessel bareboat chartered owned by it: (i) at least 21 days before the expiry of any obligatory insurance effected by it, notify OFID of the brokers and any protection and indemnity or war risks association through or with whom the Borrower proposes Borrowers propose to renew that insurance and of the proposed terms of renewal; and (ii) procure that the approved brokers and/or the war risks and protection and indemnity associations with which such a renewal is effected shall notify OFID in writing of the terms and conditions of the renewal promptly after the renewal.

Renewal of obligatory insurances. The Borrower shall in respect of each Mortgaged Vessel bareboat chartered by it: (i) at least 21 days before the expiry of any obligatory insurance effected by it, notify OFID IFC of the brokers and any protection and indemnity or war risks association through or with whom the Borrower proposes to renew that insurance and of the proposed terms of renewal; and (ii) procure that the approved brokers and/or the war risks and protection and indemnity associations with which such a renewal is effected shall notify OFID IFC in writing of the terms and conditions of the renewal promptly after the renewal.