Common use of Xxxx Insurance Clause in Contracts

Xxxx Insurance. The Borrower shall, without expense to Certificate Holders or Indenture Trustee, maintain or cause to be maintained in effect at all times with Approved Insurers all risk, ground and flight hull insurance, which may, except as provided below, exclude war risks and allied perils, covering the Aircraft for an amount at all times (even when the Aircraft is grounded or in storage) not less than [***]% of the aggregate outstanding principal amount of the Loan Certificates (the “Agreed Value”). Such insurance shall be on an agreed value basis and shall not provide insurers with a right to replace the Airframe or any Engine with another airframe or engine. Such hull insurance or other insurance of the Borrower (or a Lessee) shall include coverage for Engines and Parts temporarily removed from the Airframe, pending replacement by installation of the same or similar Engines or Parts on the Airframe, including coverage for fire and transit. Such insurance shall be of the type usually carried by the Borrower with respect to similar aircraft and engines, and covering risks of the kind customarily insured against by the Borrower. In addition, the Borrower shall carry or cause to be carried with Approved Insurers war risk and allied perils hull insurance in accordance with London form LSW555B or substantially similar form (or substantially similar insurance or indemnity provided by the U.S. Government, it being agreed that the form of FAA war risk insurance policy in effect as of October 1, 2007, is acceptable) covering the Aircraft for an amount not less than the Agreed Value. Any policies of insurance carried in accordance with this Section B covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name Indenture Trustee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Agreed Value and (ii) shall provide that (A) in the event of a loss involving proceeds in excess of the Threshold Amount, the proceeds in respect of such loss shall be payable to Indenture Trustee (so long as the Lien of this Trust Indenture shall not have been discharged), except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Borrower (or any Lessee) shall endeavor to arrange for any payment of insurance proceeds in respect of such loss to be held for the account of Indenture Trustee (so long as the Lien of this Trust Indenture shall not have been discharged) whether such payment is made to the Borrower (or any Lessee) or any third party, it being understood and agreed that in the case of any payment to the Indenture Trustee otherwise than in respect of an Event of Loss, Indenture Trustee shall, upon receipt of a certificate of a qualified engineer (who may be an employee of the Borrower) certifying that the damage giving rise to such payment shall have been repaired or that such payment shall then be required to pay for repairs then being made, pay the amount of such payment to the Borrower or its order, and (B) the entire amount of any loss involving proceeds of the Threshold Amount or less or the amount of any proceeds of any loss in excess of the Agreed Value shall be paid to the Borrower or its designee, provided that if a Special Default or any Event of Default shall have occurred and be continuing, such payment referred to in clause (B) shall be made as provided in clause (i) above. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Indenture Trustee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Borrower or any other third party that is entitled to receive such proceeds.

Xxxx Insurance. The Borrower shall, without expense to Certificate Holders or Indenture Trustee, maintain or cause to be maintained in effect at all times with Approved Insurers all risk, ground and flight hull insurance, which may, except 1. Except as provided in ss. B2 below, exclude war risks and allied perils, covering the Aircraft for an amount at all times (even when the Aircraft is grounded or in storage) not less than [***]% of the aggregate outstanding principal amount of the Loan Certificates (the “Agreed Value”). Such insurance shall be on an agreed value basis and shall not provide insurers with a right to replace the Airframe or any Engine with another airframe or engine. Such hull insurance or other insurance of the Borrower (or a Lessee) shall include coverage for Engines and Parts temporarily removed from the Airframe, pending replacement by installation of the same or similar Engines or Parts on the Airframe, including coverage for fire and transit. Such insurance shall be of the type usually carried by the Borrower with respect to similar aircraft and engines, and covering risks of the kind customarily insured against by the Borrower. In addition, the Borrower shall Lessee will carry or cause to be carried at all times, at no expense to Lessor or Owner Participant, with Approved Insurers war risk "all-risk" ground and allied perils flight aircraft hull insurance in accordance with London form LSW555B covering the Aircraft (including the Engines when they are installed on the Airframe or substantially similar form (or substantially similar insurance or indemnity provided any other airframe) which is of the type as from time to time applicable to aircraft operated by Lessee of the U.S. Government, it being agreed that the form of FAA war risk insurance policy in effect same type as of October 1, 2007, is acceptable) covering the Aircraft for an amount denominated in United States Dollars not less than the Agreed Value. Stipulated Loss Value of the Aircraft Any policies of insurance carried in accordance with this Section B ss. B1 covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name Indenture Trustee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Agreed Value and (ii) shall provide that (Aa) in the event of a loss involving proceeds in excess of the Threshold Amount, the proceeds in respect of such loss up to an amount equal to the Stipulated Loss Value for the Aircraft shall be payable to Indenture Trustee (so long as the Lien of this Trust Indenture shall not have been discharged)Lessor, except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Borrower Lessee (or any LesseePermitted Sublessee) shall endeavor to arrange for any payment of insurance proceeds in respect of such loss to be held for the account of Indenture Trustee (so long as the Lien of this Trust Indenture shall not have been discharged) Lessor, whether such payment is made to the Borrower Lessee (or any LesseePermitted Sublessee) or any third partyparty [and, it being understood and agreed that in the case of any if or Lessor receives such a payment to the Indenture Trustee otherwise than in respect of an Event of Loss, Indenture Trustee shallthen, upon receipt of a certificate of a qualified engineer (who may be an employee of the Borrower) certifying evidence reasonably satisfactory to Lessor that the damage giving rise to such payment shall have has been repaired or that such payment shall is then be required to pay for repairs then being made, Lessor shall pay the amount of such payment to the Borrower Lessee or its order], and (Bb) the entire amount of any loss involving proceeds of the Threshold Amount or less or the amount of any proceeds of any loss in excess of the Agreed Stipulated Loss Value for the Aircraft shall be paid to the Borrower Lessee or its designee, provided that if a Special Default or any order unless an Event of Default shall exists and the insurers have occurred and be continuing, such payment referred to in clause (B) shall be made as provided in clause (i) abovebeen notified thereof by Lessor. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Indenture Trustee Lessor shall hold any payment to it of any insurance proceeds in respect of such for that loss for the account of the Borrower Lessee or any other third party that who is entitled to receive such proceeds.

Xxxx Insurance. The Borrower Subject to the rights of the Lessee under Section G, the Lessee shall, without expense to Certificate Holders the Lessor, Owner Participant or Indenture Security Trustee, maintain or cause to be maintained in effect at all times during the Term with Approved Insurers insurers of nationally or internationally recognized responsibility (i) all risk, ground and flight hull insurance, which may, except as provided below, exclude war risks and allied perils, covering the Aircraft for an amount at all times (even when the Aircraft is grounded or in storage) not less than [***]the greater of (x) Stipulated Loss Value of the Aircraft and (y) 110% of the aggregate outstanding principal amount of Loan A at the Loan Certificates (time; PROVIDED THAT, neither the “Agreed Value”)Lessee nor any Permitted Sublessee shall be required to maintain all-risk flight aircraft hull insurance with respect to any period in which the Aircraft is grounded and properly stored or hangared. Such insurance shall be on an agreed value basis and shall not provide insurers with a right to replace the Airframe or any Engine with another airframe or engine. Such hull insurance or other insurance of the Borrower Lessee (or a LesseePermitted Sublessee) shall include coverage for cover Engines and Parts temporarily removed from the Airframe, pending replacement by installation of the same or similar Engines or Parts on the Airframe, including coverage for fire and transit. Such insurance shall be of the type usually carried by the Borrower Lessee with respect to similar aircraft and engines, and covering risks of the kind customarily insured against by the Borrower. In addition, the Borrower shall carry or cause to be carried with Approved Insurers war risk and allied perils hull insurance in accordance with London form LSW555B or substantially similar form (or substantially similar insurance or indemnity provided by the U.S. Government, it being agreed that the form of FAA war risk insurance policy in effect as of October 1, 2007, is acceptable) covering the Aircraft for an amount not less than the Agreed ValueLessee. Any policies of insurance carried in accordance with this Section B covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name Indenture Lessor, or so long as the Lien of the Security Agreement shall not have been discharged, Security Trustee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Agreed Stipulated Loss Value and (ii) shall provide that (A) in the event of a loss involving proceeds in excess of the Threshold Amount, the proceeds in respect of such loss up to an amount equal to the Stipulated Loss Value for the Aircraft shall be payable to Indenture Trustee Lessor (or, so long as the Lien of this Trust Indenture the Security Agreement shall not have been discharged, the Security Trustee), except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Borrower Lessee (or any LesseePermitted Sublessee) shall endeavor to arrange for any payment of insurance proceeds in respect of such loss to be held for the account of Indenture Trustee Lessor (or, so long as the Lien of this Trust Indenture the Security shall not have been discharged, the Security Trustee) whether such payment is made to the Borrower Lessee (or any LesseePermitted Sublessee) or any third party, it being understood and agreed that in the case of any payment to Lessor (or the Indenture Trustee Security Trustee) otherwise than in respect of an Event of Loss, Indenture Trustee Loss Lessor (or the Security Trustee) shall, upon receipt of a certificate of a qualified engineer (who may be an employee of the BorrowerLessee) certifying that the damage giving rise to such payment shall have been repaired or that such payment shall then be required to pay for repairs then being made, pay the amount of such payment to the Borrower Lessee or its orderdesignee, and (B) the entire amount of any loss involving proceeds of the Threshold Amount or less or the amount of any proceeds of any loss in excess of the Agreed Stipulated Loss Value for the Aircraft shall be paid to the Borrower Lessee or its designee, provided PROVIDED that if a Special Payment Default, Bankruptcy Default or any Lease Event of Default shall have occurred and be continuingcontinuing and the insurers have been notified thereof by Lessor or the Security Trustee, such payment referred to in clause (B) shall be made as provided in clause (i) above. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Indenture Trustee Lessor shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Borrower Lessee or any other third party that is entitled to receive such proceeds.

Xxxx Insurance. The Subject to the rights of the Borrower under Section G, the Borrower shall, without expense to Certificate Holders Lender or Indenture Security Trustee, maintain or cause to be maintained in effect at all times with Approved Insurers insurers of nationally or internationally recognized responsibility (i) all risk, risk ground and flight hull insurance, which may, except as provided below, exclude war risks and allied perils, covering the each Aircraft for an amount at all times (even when the such Aircraft is grounded or in storage) not less than [***]110% of the aggregate outstanding principal amount of the Relevant Loan Certificates in respect of such Aircraft (the “Agreed Value”"Debt Balance"); provided that, neither the Borrower nor any Permitted Lessee shall be required to maintain all risk flight aircraft hull insurance with respect to an Aircraft for any period in which such Aircraft is grounded and properly stored or hangared. Such insurance shall be on an agreed value basis and shall not provide insurers with a right to replace the any Airframe or any Engine with another airframe or engine. Such hull insurance or other insurance of the Borrower (or a Permitted Lessee') shall include coverage for cover Engines and Parts temporarily removed from the an Airframe, pending replacement by installation of the same or similar Engines or Parts on the such Airframe, including coverage for fire and transit. Such insurance shall be of the type usually carried by the Borrower with respect to similar aircraft and engines, and covering risks of the kind customarily insured against by the Borrower. In addition, the Borrower shall carry or cause to be carried with Approved Insurers war risk and allied perils hull insurance in accordance with London form LSW555B or substantially similar form (or substantially similar insurance or indemnity provided by the U.S. Government, it being agreed that the form of FAA war risk insurance policy in effect as of October 1, 2007, is acceptable) covering the Aircraft for an amount not less than the Agreed Value. Any policies of insurance carried in accordance with this Section B covering the an Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name Indenture the Security Trustee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Agreed Value Debt Balance for such Aircraft and (ii) shall provide that (A) in the event of a loss with respect to such Aircraft involving proceeds in excess of the Threshold Amount, the proceeds in respect of such loss shall be payable to Indenture the Security Trustee (so long as the Lien of this Trust Indenture Agreement with respect to such Aircraft shall not have been discharged), except in the case of a loss with respect to an Engine installed on an airframe other than the an Airframe, in which case the Borrower (or any Permitted Lessee) shall endeavor to arrange for any payment of insurance proceeds in respect of such loss to be held for the account of Indenture the Security Trustee (so long as the Lien of this Trust Indenture Agreement with respect to such Engine shall not have been discharged) whether such payment is made to the Borrower (or any Permitted Lessee) or any third party, it being understood and agreed that in the case of any payment to the Indenture Security Trustee otherwise than in respect of an Event of Loss, Indenture the Security Trustee shall, upon receipt of a certificate of a qualified engineer (who may be an employee of the Borrower) certifying that the damage giving rise to such payment shall have been repaired or that such payment shall then be required to pay for repairs then being made, pay the amount of such payment to the Borrower or its order, and (B) the entire amount of any loss with respect to such Aircraft involving proceeds of the Threshold Amount or less or the amount of any proceeds of any loss in excess of the Agreed Value Debt Balance for such Aircraft shall be paid to the Borrower or its designee, provided that if a Special Payment Default, Bankruptcy Default or any Event of Default shall have occurred and be continuingcontinuing and the insurers have been notified thereof by the Lender or the Security Trustee, such payment referred to in clause (B) shall be made as provided in clause (i) above. In the case of a loss with respect to an engine (other than an Engine) installed on the an Airframe, Indenture the Security Trustee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Borrower or any other third party that is entitled to receive such proceeds.