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

  • The CARRIER shall provide to the CONTRACTOR evidence of Protection and Indemnity and Hull Insurance coverage with the running down clause covering all watercraft and/or vessels using the Terminals.

  • 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.

  • Hulls of ship and boats can be insured under Marine Hull Insurance.

  • 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 boater shall maintain comprehensive Hull Insurance in the amount of $250,000 while the boat is docked at the Abbey Harbor.

  • Marine Hull Insurance (sometimes called “Hull and Machinery Insurance”) covers, in addition to the hull of the insured vessel, its equipment, stores, fuel for propelling the vessel, safety boats, etc.

  • To § 22 of the Plan:No deduction according to clause II.13 of the Conditions for Hull Insurance of Mobile Offshore Units shall be made.

  • 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.

  • Hull Insurance – Provides coverage for physical damage to the vessel and its operating machinery and equipment that is part of the vessel.


More Definitions of Hull Insurance

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

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Blanket travel insurance means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group.

  • Industrial insured means an insured:

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Collateral Insurance shall have the meaning set forth in Section 4.4(a).

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Additional Insured is defined in Section D of Annex D to the Lease.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Dental Insurance The District shall contribute $175.00 annually toward the cost of dental insurance whether for single or family coverage for full status employees who qualify for and enroll in the plan. The cost of the premium not contributed by the District for family coverage shall be borne by the employee through payroll deduction. This coverage shall continue for the duration of this contract.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Blanket insurance policy means a group policy covering a defined class of

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Property Insurance is defined in Section 6.10(a).

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • R&W Insurer means AIG Specialty Insurance Company.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.