Common use of Collection of claims Clause in Contracts

Collection of claims. The Borrower will not settle, compromise or abandon any claim for Total Loss or for a figure in excess of the Casualty Amount, and the Borrower shall do all things necessary and provide all documents, evidence and information to enable the Agent to collect or recover any moneys which shall at any time become payable in respect of the Insurances for the Ship.

Collection of claims. The Borrower will not settle, compromise or abandon any claim for Total Loss or for a figure in excess of the Casualty AmountMajor Casualty, and the Borrower shall do all things necessary and provide all documents, evidence and information to enable the Agent Lender to collect or recover any moneys which shall at any time become payable in respect of the Insurances obligatory insurances for the ShipVessel.