User Insurance. 13.2.1 The User shall procure (or cause to be procured) and maintain (or cause to be maintained) such insurances as are customarily procured and maintained for LNG Vessels acting as a Reasonable and Prudent User. Specifically, an LNG Vessel that unloads LNG at the Terminal must have insurance coverage consisting of at least: (a) hull and machinery for not less than the market value of the LNG Vessel; and (b) protection and indemnity insurance as a full entry with a member of the International Group of P&I Clubs, including cover for collision, damage to fixed and floating objects (to the extent not covered by the hull and machinery insurance noted in Clause 13.2.1(a)), wreck removal, pollution and injury/death to crew and war risks P&I excess cover on such terms and on such limits as are customarily available from a member of the International Group of P&I Clubs. 13.2.2 The User shall procure that all insurances required to be procured (or caused to be procured) and maintained (or caused to be maintained) pursuant to Clause 13.2.1 shall contain a waiver of any subrogated rights against the Operator in respect of any claims by the User under such insurance.
Appears in 6 contracts
Samples: Terminal User Agreement, Terminal User Agreement, Terminal Use Agreement
User Insurance. 13.2.1 The User shall procure (or cause to be procured) and maintain (or cause to be maintained) such insurances as are customarily procured and maintained for LNG Vessels acting as a Reasonable and Prudent User. Specifically, an LNG Vessel that unloads LNG at the Terminal must have insurance coverage consisting of at least:
(a) hull and machinery Hull & Machinery for not less than the market value of the LNG Vessel; and
(b) protection Protection and indemnity Indemnity insurance as a full entry with a member of the International Group of P&I Clubs, including cover for collision, damage to fixed and floating objects (to the extent not covered by the hull and machinery insurance noted in Clause 13.2.1(a)), wreck removal, pollution and injury/death to crew and war risks P&I excess cover on such terms and on such limits as are customarily available from a member of the International Group of P&I Clubs.
13.2.2 The User shall procure that all insurances required to be procured (or caused to be procured) and maintained (or caused to be maintained) pursuant to Clause 13.2.1 shall contain a waiver of any subrogated rights against the Operator in respect of any claims by the User under such insurance.
Appears in 2 contracts
Samples: Terminal Use Agreement, Terminal Use Agreement
User Insurance.
13.2.1 The User shall procure (or cause to be procured) and maintain (or cause to be maintained) such insurances as are customarily procured and maintained for LNG Vessels acting as a Reasonable and Prudent User. Specifically, an LNG Vessel that unloads LNG at the Terminal must have insurance coverage consisting of at least:
(a) hull and machinery for not less than the market value of the LNG Vessel; and
(b) protection and indemnity insurance as a full entry with a member of the International Group of P&I Clubs, including cover for collision, damage to fixed and floating objects (to the extent not covered by the hull and machinery insurance noted in Clause 13.2.1(a)), wreck removal, pollution and injury/death to crew and war risks P&I excess cover on such terms and on such limits as are customarily available from a member of the International Group of P&I Clubs.
13.2.2 The User shall procure that all insurances required to be procured (or caused to be procured) and maintained (or caused to be maintained) pursuant to Clause 13.2.1 shall contain a waiver of any subrogated rights against the Operator in respect of any claims by the User under such insurance.
Appears in 1 contract
Samples: Terminal Use Agreement
