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 120 per cent. of the aggregate of the Loan and the Hedging Close Out Liabilities; (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 (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 (being, in the case of protection and indemnity risks, IGA members).

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 of at least 120 the greater of (i) an amount equal to 110 per cent. of the aggregate Loan and (ii) the Market Value of the Loan and the Hedging Close Out Liabilities;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 (currently at $1,000,000,000); (d) in the case of relation to protection and indemnity 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 (being, in the case of protection and indemnity risks, IGA members)associations.

Terms of obligatory insurances. Each The 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 aggregate Loan; and (ii) the Market Value of the Loan and the Hedging Close Out LiabilitiesShip; (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 (currently at 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 the 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 (being, in the case of protection and indemnity risks, IGA members)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 (i) the market value of the Ship (determined in accordance with Clause 14.5) and (ii) 120 per cent. of the aggregate of the Loan and the Hedging Close Out LiabilitiesLoan; (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 (currently at $1,000,000,000); (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 (being, in the case of protection and indemnity risks, IGA members)associations.

Terms of obligatory insurances. Each The 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 aggregate Loan; and (ii) the Market Value of the Loan and the Hedging Close Out LiabilitiesShip; (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 (such amount currently at being $1,000,000,000); (d) in the case of protection and indemnity risks, in respect of the full tonnage of its the 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 (being, in the case of protection and indemnity risks, IGA members)associations.

Terms of obligatory insurances. Each The Borrower shall procure that the Owner 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 in an amount at least the greater of (i) an amount which equals 120 per cent. of the aggregate Loan and (ii) the Market Value of the Loan and the Hedging Close Out Liabilities;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 (currently at $1,000,000,000)market; (d) in the case of relation to protection and indemnity risks, risks in respect of the full value and tonnage of its the Ship; (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 (being, in the case of protection and indemnity risks, IGA members)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 of at least 120 the greater of (i) an amount equal to 130 per cent. of the aggregate Loan and (ii) the Market Value of the Loan and the Hedging Close Out Liabilities;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 (currently at $1,000,000,000); (d) in the case of relation to protection and indemnity 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 (being, in the case of protection and indemnity risks, IGA members)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 120 the greater of (i) the market value of the Ship and (ii) an amount which is equal to 125 per cent. of the aggregate , of the Loan and the Hedging Close Out LiabilitiesSwap Exposure; (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 (currently at $1,000,000,000)market; (d) in the case of relation to protection and indemnity risks, risks in respect of the full tonnage of its the Ship; (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 (being, in the case of protection and indemnity risks, IGA members)associations.

Terms of obligatory insurances. Each The Borrower shall procure that each Owner 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 in an amount at least the greater of (i) 120 per cent. of the aggregate Loan and (ii) the Market Value of the Loan and the Hedging Close Out Liabilities;Ship owned by it; 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 (currently at $1,000,000,000)market; (d) in the case of relation to protection and indemnity risks, risks in respect of the full value and 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 (being, in the case of protection and indemnity risks, IGA members)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 120 the greater of: (i) 125 per cent. of the aggregate Loan; and (ii) the Market Value of the Loan and the Hedging Close Out LiabilitiesShips 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 (currently at $1,000,000,000)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 (being, in the case of protection and indemnity risks, IGA members)associations.