Fleet liens, set off and cancellations. If the Ship’s hull cover also insures other vessels, the Security Agent shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 4 contracts
Samples: Facility Agreement (Quintana Shipping Ltd.), Facility Agreement (Navigator Holdings Ltd.), Agreement (Teekay Tankers Ltd.)
Fleet liens, set off and cancellations. If the Ship’s hull cover also insures other vessels, the Security Agent shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 4 contracts
Samples: Facility Agreement (Navigator Holdings Ltd.), Navigator Holdings Ltd., Navigator Holdings Ltd.
Fleet liens, set off and cancellations. If the Ship’s 's hull cover also insures other vessels, the Security Agent shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 4 contracts
Samples: Agreement (Navigator Holdings Ltd.), Navigator Holdings Ltd., Agreement (Dorian LPG Ltd.)
Fleet liens, set off and cancellations. If the a Ship’s hull cover also insures other vessels, the Security Agent shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 2 contracts
Fleet liens, set off and cancellations. If the Ship’s hull cover also insures other vessels, the Security Agent Lender shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 1 contract
Samples: Agreement (Danaos Corp)
Fleet liens, set off and cancellations. If the Ship’s hull cover also insures other vessels, the Security Agent shall either be given an undertaking in approved terms by the brokers or (if such cover is not placed through brokers or the brokers do not, under any applicable laws or insurance terms, have such rights of set off and cancellation) the relevant insurers that the brokers or (if relevant) the insurers will not:
Appears in 1 contract
