Common use of Terms of obligatory insurances Clause in Contracts

Terms of obligatory insurances. Each Borrower shall effect such insurances: (a) in dollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis at least the greater of: (i) 120 per cent. of the Loan; and (ii) the Market Value of the Ship owned by it; (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance market; (d) in the case of protection and indemnity risks, in respect of the full tonnage of its Ship; (e) on approved terms; and (f) through Approved Brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each The Borrower shall effect such insurances: (a) in dollarsDollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis at least the greater of: of (i) 120 per cent. of the Loan; and Loan and (ii) the Market Value market value of the Ship owned by it;Ship; and (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance marketmarket (currently $1,000,000,000); (d) in the case of relation to protection and indemnity risks, risks in respect of the Ship’s full tonnage of its Shiptonnage; (e) on approved terms; and (f) through Approved Brokers approved brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each The Borrower shall effect such insurances: (a) in dollarsDollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis at least the greater of: of (i) 120 per cent. of the Loan; and Loan and (ii) the Market Value market value of the Ship owned by it;Ship; and (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance market; (d) in the case of relation to protection and indemnity risks, risks in respect of the Ship’s full tonnage of its Shiptonnage; (e) on approved terms; and (f) through Approved Brokers approved brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each Borrower shall effect such insurances: (a) in dollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis equal to at least the greater higher of: (i) 120 per cent. of the Loan; and (ii) the Market Value of the Ship owned by it; (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance marketmarket (currently at $1,000,000,000); (d) in the case of protection and indemnity risks, in respect of the full tonnage of its Ship; (e) on approved terms; and (f) through Approved Brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each Borrower shall effect such insurances: (a) in dollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis at least the greater of: (i) 120 per cent. of the LoanTranche relating to the Ship owned by it; and (ii) the Market Value of the Ship owned by itthat Ship; (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance marketmarket but not less than $1,000,000,000; (d) in the case of protection and indemnity risks, in respect of the full tonnage of its Ship; (e) on approved terms; and (f) through Approved Brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each Borrower shall effect such insurances: (a) in dollars; (b) in the case of fire and usual marine risks and war risks, in an aggregate amount on an agreed value basis at least the greater of: (i) 120 125 per cent. of the Loan; and (ii) the Market Value of the Ship owned by itShips subject to a Mortgage; (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance market; (d) in the case of protection and indemnity risks, in respect of the full tonnage of its Ship; (e) on approved terms; and (f) through Approved Brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.

Terms of obligatory insurances. Each 12.3.1 Subject to Clause 12.3.2, each Ship Owning Borrower shall effect such insurances: (a) in dollarsDollars; (b) in the case of fire and usual marine risks and war risks, in an amount on an agreed value basis of at least the greater of: (i) 120 per cent. of the Loan; and (ii) the Market Value market value of the Ship owned by it; (c) in the case of oil pollution liability risks, for an aggregate amount equal to the highest level of cover from time to time available under basic protection and indemnity club entry and in the international marine insurance market; (d) in the case of relation to protection and indemnity risks, risks in respect of the full tonnage of its Shipthe Ship owned by it; (e) on approved terms; and (f) through Approved Brokers approved brokers and with approved insurance companies and/or underwriters or, in the case of war risks and protection and indemnity risks, in approved war risks and protection and indemnity risks associations.