Common use of Breach of Insurance and certain other obligations Clause in Contracts

Breach of Insurance and certain other obligations. any of the Borrowers or the Manager fails to obtain and/or maintain the Insurances (in accordance with the requirements of the Security Documents) for any of the Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of the Borrowers or any of them or any other person or the Borrowers or the Corporate Guarantor commit any breach of or omit to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2, 8.3, 8.4 or 8.5 of this Agreement or clauses 5.1.5 or 5.2 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers or or, as the context may require, the Manager or any other person fails to obtain and/or maintain the Insurances (in accordance with the requirements of the Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such the Insurances or for any other failure or default on the part of any of the Borrowers or any of them or any other person or any of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2, 8.3, 8.2 or 8.3 or 8.4 or 8.5 or the Corporate Guarantor commits any breach of this Agreement or clauses 5.1.5 omits to observe any of the obligations or undertakings expressed to be assumed by it under clause 5.2 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers or or, as the context may require, any Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of any of the Borrowers or any of them other person, or any other person or of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.2, 8.3, 8.1.5 or 8.2 or 8.3 or 8.4 or 8.5 or 8.6 or the Corporate Guarantor commits any breach of this Agreement or fails to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.1.5 5.1.4 or 5.2 or 5.3 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any either of the Borrowers or or, as the context may require, the Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any either of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of either of the Borrowers or any of them or any other person or either of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.28.1.5, 8.38.2 or 8.3 or the Corporate Guarantor commits any breach or fails to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.1.4, 8.4 5.1.5, 5.2, 5.3 or 8.5 of this Agreement or clauses 5.1.5 or 5.2 5.4 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers Owners or the Manager fails to obtain and/or maintain the Insurances (in accordance with the requirements of the Security Documents) for any of the Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of the Borrowers Owners or any of them or any other person or the Borrowers or the Corporate Guarantor commit any breach of or omit to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.1.14, 8.1.15, 8.2, 8.3, 8.4 or 8.5 of this Agreement or clauses 5.1.5 or 5.2 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any either of the Borrowers or or, as the context may require, the Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any either of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of either of the Borrowers or any of them or any other person or either of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.28.1.5, 8.38.2 or 8.3 or the Corporate Guarantor commits any breach or fails to observe any of the obligations or undertakings expressed to be assured by it under clauses 5.1.4, 8.4 5.2 or 8.5 of this Agreement or clauses 5.1.5 or 5.2 5.3 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers or or, as the context may require, the Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any of the Ships or if any insurer in respect of such Insurances cancels any of such the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such the Insurances or for any other failure or default on the part of the Borrowers or any of them the Borrowers, the Manager or any other person or any of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them it under clauses 8.2, 8.3, 8.4 8.2 or 8.5 of this Agreement or clauses 5.1.5 or 5.2 of the Corporate Guarantee, 8.3 respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers or or, as the context may require, the Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such Insurances or for any other failure or default on the part of any of the Borrowers or any of them or any other person or any of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them under clauses 8.28.1.5, 8.1.16, 8.2 or 8.3, 8.4 or 8.5 the Corporate Guarantor commits any breach or fails to observe any of this Agreement the obligations or undertakings expressed to be assumed by it under clauses 5.1.5 5.1.4, 5.2 or 5.2 5.3 of the Corporate Guarantee, respectively; or

Breach of Insurance and certain other obligations. any of the Borrowers or or, as the context may require, the Manager fails to obtain and/or maintain the Insurances (as defined in, and in accordance with the requirements of of, the Ship Security Documents) for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels any of such the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for any of such the Insurances or for any other failure or default on the part of any of the Borrowers or any of them or any other person or any of the Borrowers or the Corporate Guarantor commit commits any breach of or omit omits to observe any of the obligations or undertakings expressed to be assumed by them it under clauses 8.1.5, 8.1.7, 8.1.15, 8.2, 8.3, 8.3 or 8.4 or 8.5 the Corporate Guarantor commits any breach of this Agreement or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.1.5 5.2 or 5.2 5.3 of the Corporate Guarantee, respectively; or