Common use of Xxxx Insurance Clause in Contracts

Xxxx Insurance. 1. Except as provided in Section B.2 below, the Company will carry or cause to be carried at all times, at no expense to the Collateral Agent, with Approved Insurers “all-risk” ground and flight aircraft hull insurance covering each Aircraft (including the Engines when they are installed on the Airframe or any other airframe) which is of the type as from time to time applicable to aircraft owned by Company of the same type as the Aircraft for an amount denominated in United States Dollars not less than 105% of the outstanding Allocable Loan Amount with respect to the Aircraft (the “Debt Balance”). Any policies of insurance carried in accordance with this Section B.1 or Section C covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name the Collateral Agent as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Debt Balance 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 Debt Balance shall be payable to the Collateral Agent, except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Company (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 the Collateral Agent whether such payment is made to the Company (or any Permitted Lessee) or any third party, it being understood and agreed that in the case of any payment to the Collateral Agent otherwise than in respect of an Event of Loss, the Collateral Agent shall, upon receipt of evidence satisfactory to it 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 Company 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 Debt Balance shall be paid to the Company or its order unless an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Collateral Agent. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Collateral Agent shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Company or any other third party that is entitled to receive such proceeds.

Xxxx Insurance. 13. Except as provided in Section B.2 below, the Company Owner will carry or cause to be carried at all times, at no expense to the Collateral AgentMortgagee, with Approved Insurers “"all-risk” " ground and flight aircraft hull insurance covering each Aircraft (including the Engines when they are installed on the Airframe or any other airframe) which is of the type as from time to time applicable to aircraft owned by Company Owner of the same type as the Aircraft for an amount denominated in United States Dollars not less than 105% the unpaid Original Amount together with six months of the outstanding Allocable Loan Amount with respect to the Aircraft interest accrued thereon (the “"Debt Balance”"). Any policies of insurance carried in accordance with this Section B.1 or Section C covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name the Collateral Agent Mortgagee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Debt Balance 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 Debt Balance shall be payable to the Collateral AgentMortgagee, except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Company Owner (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 the Collateral Agent Mortgagee whether such payment is made to the Company Owner (or any Permitted Lessee) or any third party, it being understood and agreed that in the case of any payment to the Collateral Agent Mortgagee otherwise than in respect of an Event of Loss, the Collateral Agent Mortgagee shall, upon receipt of evidence satisfactory to it 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 Company Owner 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 Debt Balance shall be paid to the Company Owner or its order unless an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Collateral AgentMortgagee. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Collateral Agent Mortgagee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Company Owner or any other third party that is entitled to receive such proceeds.

Xxxx Insurance. 1. Except as provided in Section B.2 below, the Company Owner will carry or cause to be carried at all times, at no expense to the Collateral AgentMortgagee, with Approved Insurers “all-risk” ground and flight aircraft hull insurance covering each Aircraft (including the Engines when they are installed on the Airframe or any other airframe) which is of the type as from time to time applicable to aircraft owned by Company Owner of the same type as the Aircraft for an amount denominated in United States Dollars not less than 105% the unpaid Original Amount together with six months of the outstanding Allocable Loan Amount with respect to the Aircraft interest accrued thereon (collectively, the “Debt Balance”). Any policies of insurance carried in accordance with this Section B.1 or Section C covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name the Collateral Agent Mortgagee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Debt Balance 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 Debt Balance shall be payable to the Collateral AgentMortgagee, except in the TRUST INDENTURE 10-1 case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Company Owner (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 the Collateral Agent Mortgagee whether such payment is made to the Company Owner (or any Permitted Lessee) or any third party, it being understood and agreed that in the case of any payment to the Collateral Agent Mortgagee otherwise than in respect of an Event of Loss, the Collateral Agent Mortgagee shall, upon receipt of evidence satisfactory to it 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 Company Owner 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 Debt Balance shall be paid to the Company Owner or its order unless an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Collateral AgentMortgagee. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Collateral Agent Mortgagee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Company Owner or any other third party that is entitled to receive such proceeds.

Xxxx Insurance. 1. Except as provided in Section B.2 below, the Company Owner will carry or cause to be carried at all times, at no expense to the Collateral AgentMortgagee, with Approved Insurers “all-risk” ground and flight aircraft hull insurance covering each Aircraft (including the Engines when they are installed on the Airframe or any other airframe) which is of the type as from time to time applicable to aircraft owned by Company Owner of the same type as the Aircraft for an amount denominated in United States Dollars not less than 105% the unpaid Original Amount together with six months of the outstanding Allocable Loan Amount with respect to the Aircraft interest accrued thereon (the “Debt Balance”). Any policies of insurance carried in accordance with this Section B.1 or Section C covering the Aircraft and any policies taken out in substitution or replacement for any such policies (i) shall name the Collateral Agent Mortgagee as exclusive loss payee for any proceeds to be paid under such policies up to an amount equal to the Debt Balance 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 Debt Balance shall be payable to the Collateral AgentMortgagee, except in the case of a loss with respect to an Engine installed on an airframe other than the Airframe, in which case the Company Owner (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 the Collateral Agent Mortgagee whether such payment is made to the Company Owner (or any Permitted Lessee) or any third party, it being understood and agreed that in the case of any payment to the Collateral Agent Mortgagee otherwise than in respect of an Event of Loss, the Collateral Agent Mortgagee shall, upon receipt of evidence satisfactory to it 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 Company Owner 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 Debt Balance shall be paid to the Company Owner or its order unless an Event of Default shall have occurred and be continuing and the insurers have been notified thereof by the Collateral AgentMortgagee. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, Collateral Agent Mortgagee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Company Owner or any other third party that is entitled to receive such proceeds.