Type of insurances Sample Clauses

Type of insurances to insure and keep the Vessel insured at the expense of the Mortgagor against: (A) fire and usual marine risks (including excess risks); (B) war risks; (C) protection and indemnity risks (including pollution risks and a freight demurrage and defence cover); and (D) where the Vessel shall, at any time enter waters under the jurisdiction of the United States of America and/or the Exclusive Economic Zone (as defined in the United States Oil Pollution Act of 1990) oil pollution liability risks in excess of the cover for oil pollution liability risks included within the cover for protection and indemnity risks; and, at the option of the Mortgagee, either (i) to effect and keep effected, in the name and for the benefit of the Mortgagee, but at the expense of the Mortgagor or (ii) to reimburse the Mortgagee on demand for any and all costs incurred by it in effecting and maintaining such insurance in relation to the Vessel: (E) a mortgagee’s interest insurance; and (F) (where the Vessel shall, at any time enter waters under the jurisdiction of the United States of America and/or the Exclusive Economic Zone (as defined in the United States Oil Pollution Act of 1990)) an insurance against the possible consequences of pollution due to, without limitation, oil or any other substance involving the Vessel including, without limitation, the risk of expropriation or sequestration of the Vessel or the imposition of any Security Interest having priority over the Mortgage (“Mortgagee’s Interest Insurance — Additional Perils (Pollution)”).
Sample 1
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Type of insurances. The Borrower shall, throughout the Loan Period, covenant with the Lender in relation to the Insurances on or in respect of the Vessel that the Borrower will take out and effect or cause to be taken out and effected and maintain the following Insurances on and in respect of the Vessel, at its own expense (including payment of all premiums, costs and club calls, if any): (a) an Insurance (hereinafter called the “Hull & Machinery Insurance”) which will be taken out and maintained in against all risks (including excess risks) being effected on the Vessel throughout such Security Period under the Nordic Marine Insurance Plan of 2013 (Version 2019), the Institute of London Underwriters “Institute Time Clauses Hulls”, or Hull Insurance Ordinary Conditions (“Senpaku Hoken Futsu Yakkan”) with the Hull Insurance No.6 Special Conditions (“Senpaku Hoken Dai6-shu Tokubetsu Yakkan”), or under such similar terms generally adopted by first-class insurance companies in Japan, England, Norway or U.S.A. as the Lender shall approve;
Sample 1

Related to Type of insurances

  • Types of Insurance The types and amounts of insurance required to be maintained under this Article are as follows: (a) Commercial general liability insurance for bodily injury liability, including death, and property damage liability, incurred in connection with the performance of this Agreement, with minimum limits of $1,000,000 in respect of claims arising out of personal injury or sickness or death of any one person, $1,000,000 in respect of claims arising out of personal injury, sickness or death in any one accident or disaster, and $1,000,000 in respect of claims arising out of property damage in any one accident or disaster; and (b) Workers Compensation, Employers Liability, and Disability Benefits as required by New York State.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

  • Minimum Scope of Insurance Coverage shall be at least as broad as: 1. The coverage provided by Insurance Services Office Commercial General Liability coverage (“occurrence”) Form Number CG 0001; and 2. The coverage provided by Insurance Services Office Form Number CA 0001 covering Automobile Liability. Coverage shall be included for all owned, non-owned and hired automobiles; and

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Maintenance of Insurance The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

  • Policies of Insurance At City’s request, the Artist shall provide City with the actual policies providing the coverage required above.

  • Required Evidence of Insurance i. Copy of the additional insured endorsement or policy language granting additional insured status; and ii. Certificate of Insurance.

  • Form of insurance The form of the insurance shall be approved by the Director and the City Attorney; such approval (or lack thereof) shall never: (i) excuse non-compliance with the terms of this Section; or (ii) waive or estop the City from asserting its rights to terminate this Agreement. The policy issuer shall: (i) have a Certificate of Authority to transact insurance business in Texas; or (ii) be an eligible non-admitted insurer in the State of Texas and have a Best’s rating of at least B+, and a Best’s Financial Size Category of Class VI or better, according to the most current Best’s Key Rating Guide.

  • Period of Insurance Period of insurance means the period shown as such on the e-certificate and validation card, which time is taken as Greenwich Mean Time unless otherwise stated.

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