Sinosure Policy definition

Sinosure Policy means the buyer’s export credit insurance policy issued or to be issued by Sinosure in respect of the Vessel and providing in the aggregate political and commercial cover for ninety five per cent (95%) of the Loan outstanding from time to time and accrued interest thereunder, in form and substance satisfactory to the Lenders.
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Sinosure Policy means an export credit insurance policy with the effective date of 18 December 2014 and issued by Sinosure (as amended and supplemented by a Sinosure consent (No. LBA2014044-01) dated 1 July 2016 and a Sinosure consent (No. LBA2014044 – PD02) dated 1 September 2017 and further amended and supplemented from time to time, including by an addenda of the policy in respect of the Amendment and Restatement Agreement) which insures certain political and commercial risks in respect of the Facility and provides a minimum pay-out ratio of ninety-five per cent (95%) of all of the principal and interest (other than the Relevant Interest Portion) under the Facility.
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Sinosure Policy means the insurance cover provided by Sinosure for the benefit of the Export-Import Bank of China under the loan agreement between the Export-Import Bank of China and GPB (OJSC).
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Examples of Sinosure Policy in a sentence

  • An original counterpart of the Sinosure Policy duly executed by Sinosure, including an English translation in form and substance acceptable to the Agent (acting on the unanimous instructions of the Lenders) and the Sinosure Policy being in full force and effect.

  • The Sinosure Agent agrees not to take any action under the Sinosure Policy without the consent of the Majority Lenders (which consent shall not be unreasonably withheld), unless the Sinosure Agent has reasonably determined that such action would not be material to the coverage provided to the Lenders thereunder.

  • Each Lender expressly confirms and agrees that the Sinosure Agent shall not be liable for any loss caused as a result of the breach by any such Lender of its obligations under Clause 15.21 (Sinosure Policy).

  • If at any time in the reasonable opinion of the Facility Agent, any provision of a Finance Document contradicts or conflicts with any provision of the Sinosure Policy or Sinosure requires any further action to be taken or documents to be entered into for the Sinosure Policy to remain in full force and effect, then the Borrower shall take such action as the Facility Agent or Sinosure shall request to remove any contradiction or conflict and to ensure the Sinosure Policy remains in full force and effect.

  • Policy Each Lender acknowledges and agrees with the Sinosure Agent that it shall have no entitlement to make any claim or to take any action whatsoever under or in connection with the Sinosure Policy except through the Sinosure Agent or otherwise in accordance with the Sinosure Policy and that all of the rights of such Lenders under the Sinosure Policy shall only be exercised by the Sinosure Agent pursuant to and in accordance with the Sinosure Policy.

  • Without prejudice to the foregoing, Sinosure may, if Sinosure has paid, and the Lenders have received, all amounts payable under the Sinosure Policy, provide for a different manner of application from that set out in Clause 10.11 above either as regards a specified sum or sums or as regards sums in a specified category or categories.

  • Each Finance Party will be deemed to have acted reasonably if it has acted on the instructions of the Sinosure Agent (in accordance with the terms of the Sinosure Policy) in the making of any such decision or the taking or refraining to take any action under any Finance Document to which it is a party.

  • For the avoidance of doubt, the Borrower shall be under no obligation to make a full prepayment of the Loan under this Clause 6.4 if the termination, suspension or cancellation of the Sinosure Policy is caused by the wilful misconduct of any Finance Party.

  • The Sinosure Agent agrees to furnish promptly to each Lender, a copy of each written communication received by it from, or sent by it to, Sinosure expressly relating to the Sinosure Policy.

  • The provisions of Clause 15.30 (Resignation), pertaining to the procedures to be followed in connection with the appointment of a successor Agent shall constitute, mutatis mutandis, the procedures to be followed in connection with the appointment of a successor Sinosure Agent provided the Sinosure Agent is able to assign and/or novate the Sinosure Policy to its successor.

Related to Sinosure Policy

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • The Policy means any insurance policy held by the Landlord for the Property or the Fixtures and Fittings.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.