Hull Insurance definition

Hull Insurance. With respect to any Aircraft, hull insurance and political risk insurance, if necessary, shall be maintained in an amount equal to the greatest of: (i) the Note Target Price for such Aircraft (as such Note Target Price is defined in any Indenture and as set forth on Schedule 1 hereto, as the same shall be amended in writing from time to time by AerCo); (ii) the appraised value for such Aircraft (as such appraised value is set forth in Schedule 1 hereto, as the same shall be amended in writing from time to time by AerCo; (iii) the Agreed Value of such Aircraft; (iv) 110% of the net book value of such Aircraft (as such net book value is set forth in Schedule 1 attached hereto, as the same shall be amended in writing from time to time by AerCo ); and (v) such greater amounts as may be directed in writing by AerCo from time to time; provided however, that in the event that an agreement with respect to hull insurance or political risk insurance, if necessary, cannot be reached with any particular Lessee pursuant to which such Lessee will pay the premiums to procure such insurance in amounts consistent with the foregoing, hull insurance shall be maintained in an amount equal to the greater of the amounts described in clause (i) above and this clause (v). Spare engines and parts, if any, shall be insured on the basis of their "replacement costs".

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Hull Insurance. With respect to any Engine, hull insurance shall be maintained by the Lessee and, to the extent such hull insurance is not maintained by Lessee, WEST shall maintain contingent hull insurance coverage, in each case, in an amount at least equal to Adjusted Borrowing Value for such Engine; provided, however, that in the event that an agreement with respect to hull insurance cannot be reached with any particular Lessee pursuant to which such Lessee will pay the premiums to procure such insurance in amounts consistent with the foregoing, hull insurance shall be procured by the Servicer on behalf of WEST in an amount equal to the amount set forth above, at the expense of WEST. Parts, if any, shall be insured on the basis of their replacement cost under similar circumstances.

Hull Insurance shall have the meaning set forth in Section 6.4(a)(i).

Examples of Hull Insurance in a sentence

• The boat Owner(s) agrees to keep Hull Insurance on the Owner(s) boat in full force and effect during the period of winter storage at the Owner(s) own expense and to furnish the Insurer with a copy of this agreement.

• All Risk Hull Insurance on Aircraft Performing Services Hereunder Replacement Cost or Such Lesser Amount as may be Consented to by AWA, in writing 5.

• The P&I and Hull Insurance policies must be endorsed to include WSP and Client, and their respective officers, directors, agents, and employees, as additional insureds, on a primary and non- contributory basis.

• The Hull Insurance shall contain a waiver of rights of subrogation against the Lessee, provided that such waiver of rights of subrogation will not apply to any damage to the Aircraft caused by the gross negligence or willful misconduct of any Lessee.

• Aircraft Hull Insurance covering all risks of loss or damage, while on the ground or in flight to the Engine in a minimum amount not less than the Agreed Value stated in Exhibit A each Engine.

• All Risk Hull Insurance on Aircraft Replacement Cost or Such Performing Services Hereunder Lesser Amount as may be Consented to by AWA, in writing 5.

• Alternatively, AA, at its sole discretion, may elect to offer Aircraft Hull Insurance coverage for its Feeder Air Service operations with terms and conditions to be mutually agreed to by the parties.

• Lessee will procure and pay the premium for a policy of Aviation Hull Insurance during the lease period covering ground, taxi and flight risks for the current agreed insurable value of the aircraft for the mutual benefit of Lessor and Lessee.

• No "fair price", "business combination", "moratorium", "control share acquisition" or other form of antitakeover statute or regulation is or will be applicable to the execution, delivery or performance of this Agreement or the consummation of the Transaction or the other transactions contemplated by this Agreement.

• To the extent that the insurance cost for Aircraft Hull Insurance paid to Contractor by AA deviates from the New AHI Calculated Rate, the difference, multiplied by the actual Hull values divided by $100, associated with Contractor's Feeder Air Service Flights shall be either be reimbursed to Contractor or credited to AA.

More Definitions of Hull Insurance

Hull Insurance shall have the meaning assigned thereto in Section 6.4(a)(1) of this Agreement.

Hull Insurance. With respect to any Aircraft, hull insurance and political risk insurance, if necessary, shall be maintained in an amount equal to the greatest of:

Hull Insurance. With respect to any Aircraft, hull insurance shall be maintained by the Lessee and MSAF in an amount equal to the greatest of (a) the Note Target Price for such Aircraft (as such Note Target Price is defined in any Indenture, as the same shall be amended in writing from time to time by MSAF), (b) the appraised value for such Aircraft, (c) the Agreed Value of such Aircraft (as such Agreed Value is defined in the applicable Lease), and (d) such greater amounts as may be directed in writing by MSAF from time to time; provided, however, that in the event that an agreement with respect to hull insurance cannot be reached with any particular Lessee pursuant to which such Lessee will pay the premiums to procure such insurance in amounts consistent with the foregoing, hull insurance shall be maintained in an amount equal to the greater of clauses (a) and (d) above. Spare engines and parts, if any, shall be insured on the basis of their "replacement costs".