Required Policy Designations and Provisions. Each and any policy of insurance obtained and maintained pursuant to this Section, and each and any policy obtained in substitution or replacement for any such policies, shall: (i) designate Owner as owner and Lessor as lessor of the aircraft covered thereby and designate Owner the sole loss payee in respect of the insurance covering the Aircraft required to be maintained by Lessee pursuant to Section 12(b), and shall designate Lessor, GECAS, and Owner and their respective named successors and assigns (and in respect of coverage specified in Section 12(a) hereof, their respective directors, officers, agents, shareholders, subsidiaries and employees), as additional named insureds (the "Additional Insureds") (and the policy shall be promptly amended upon the request of Lessor to add any additional named successors or assigns of Lessor, GECAS, or Owner) as their interests may appear (but without imposing upon the Additional Insureds, any obligation imposed upon the insured, including, without limitation, the liability to pay any premiums for, any such policies); (ii) expressly provide that, in respect of the interests of the Additional Insureds, in such policies, the insurance shall not be invalidated by any action or inaction of Lessee, and shall insure the Additional Insureds, regardless of any breach or violation of any warranty, declaration or condition contained in such policies by Lessee or any other party other, and provided the Person so protected has not caused, contributed to or knowingly condoned such action or inaction, other than with respect to an Additional Insured in connection with a breach or violation by such Additional Insured; (iii) provide that if there is a cancellation or material adverse alteration of the insurance, such cancellation or alteration shall not be effective as to the Additional Insureds for thirty (30) days (seven (7) days or such lesser period as from time to time may be applicable in the case of any war risks for allied perils coverage) after issuance to Lessor of written notice by telecopy or overnight courier, by such insurer or insurers of such prospective cancellation or change; (iv) include coverage for the territorial limits of any country (including its airspace) in which the Aircraft operates on a worldwide basis subject to such limitations and exclusions as Lessor may reasonably agree; (v) provide that, as against the Additional Insureds, the insurer waives any rights of set-off, counterclaim or any other deduc...
Required Policy Designations and Provisions. Each and any policy of insurance, as applicable, obtained and maintained pursuant to this Section 12, and each and any policy obtained in substitution or replacement for any such policies, shall:
Required Policy Designations and Provisions. Relating to Insurance Against Loss or Damage. Each and any policy of insurance obtained and maintained pursuant to Section 11(d), and each and any policy obtained in substitution or replacement for any such policies, shall be provided by policies that shall be endorsed to include paragraph 1 of AVN67B with Lessor and Lender as contract parties and shall to the extent not in conflict with AVN67B:
Required Policy Designations and Provisions. Each policy of insurance obtained and maintained pursuant to this Section, and each policy obtained in substitution or replacement for any such policies, shall: (i) designate Lessor as owner of the Aircraft covered thereby, (ii) designate the Indemnitees as additional named insureds, (iii) with respect to all hull insurance policies, designate the Lessor, or the Lender (at Lessor's election) as sole loss payee for the account of all interests in the event of a Total Loss or Engine Loss or in the event of loss or damage not constituting a Total Loss or Engine Loss but where such loss or damage equals or exceeds $150,000.00; (iv) with respect to hull insurance policies, designate an Agreed Maintenance Performer as payee in the event of repairable damage in an amount less than $150,000.00 unless the insurance broker has received notice of a Default or Event of Default wherein such proceeds shall be payable to Lessor or Lender (at Lender's election); (v) expressly provide that, in respect of the interests of the Indemnitees in such policies, the insurance shall not be invalidated by any action or inaction of Lessee, and shall insure the Indemnitees regardless of any breach or violation of any warranty, declaration or condition contained in such policies by Lessee, (vi) provide that if such insurance is canceled by the Approved Insurers for any reason whatsoever, or is adversely changed in any way with respect to the interests of the Indemnitees or if such insurance is allowed to lapse for nonpayment of premium, such cancellation, adverse change or lapse shall not be effective as to the Indemnitees for thirty (30) days (seven (7) days in the case of any war risks or allied perils coverage or such lesser period of time as may be customarily applicable, and ten (10) days for non-payment of premium after receipt by Lessor and any Lender of written notice of such prospective cancellation, change or lapse) after issuance to the Indemnitees of written notice by such insurer or insurers to Lessor and Lessor's Lender of such prospective cancellation, change or lapse; (vii) include coverage for the territorial limits of any country in which the Aircraft may at any time be located; (viii) provide that, as against the Indemnitees, the insurer waives any rights of set-off, counterclaim or any other deduction, whether by attachment or otherwise, and waives the rights it may have to be subrogated to any right of any insured against the Indemnitees with respect to the Aircraf...
