Hull Insurance. The Lessee, at its own cost and expense, shall maintain or cause to be maintained in effect, with insurers of recognized responsibility, all-risk ground and flight aircraft hull insurance covering the Aircraft and all-risk coverage with respect to any Engines and Parts while temporarily removed from the Aircraft and not replaced by similar Engines or Parts, including in each case war-risk and allied perils, hijacking (air piracy) and governmental confiscation and expropriation insurance (except in the country of registry) with such retentions (subject to the limitations set forth in Section 13.06 hereof) and in such form, upon such terms and conditions (including coverage for cost of claims), and in amounts as the Lessee customarily maintains with respect to the aircraft in the Lessee's fleet of the same type and model and operated on the same routes as the Aircraft (except that the Lessee shall be required to maintain war-risk, hijacking (air piracy) and governmental confiscation and expropriation insurance (except in the country of registry) if the Aircraft is operated on routes where the custom is for major international Air Carriers flying comparable routes to carry such insurance), provided that such insurance shall at all times while the Aircraft is subject to this Lease and the Lien of the Indenture be on an agreed-value basis for an amount not less than an amount equal to the Stipulated Loss Value for the relevant period for the Aircraft as set forth on Schedule III to this Lease.
Hull Insurance. The policies will insure against the loss or damage from any cause or causes to the Aircraft for not less than $1,800,000 unless a different value is agreed upon in writing between Lessee and Lessor. The policies shall be for the benefit of Lessor with Lessor named as the sole loss payee. Any policies insuring against the loss or damage to the Aircraft will provide a waiver of subrogation in favor of Lessee. Lessee shall be responsible for the amount of the deductible, if any, if the damage to said Aircraft is incurred during Lessee’s use hereunder. Such deductible will not exceed $5,000 in motion or $2,000 not in motion unless agreed upon in writing between Lessee and Lessor. Such policies need not include coverage against war risks.
Hull Insurance. Property insured We cover your vessel, as described on the schedule (including equipment required to be on board for the operation and maintenance of the vessel), afloat on all inland and coastal waters within 200 nautical miles of the North and South Islands of New Zealand and while ashore or being transported on a land conveyance, including loading or unloading. If equipment is temporarily not on board the vessel and is ashore for storage or repair it will be covered for up to 20% of the amount specified under Section A in the schedule. The amount of insurance remaining on the vessel will be reduced by the value of that equipment. Cover will not apply from the time of Customs clearance, or from the time when legal Customs clearance is required on departure from New Zealand, until Customs clearance on return to New Zealand. Perils insured or cover We cover your vessel against all risks of sudden accidental physical loss or damage. We also cover physical damage that is caused directly by any latent defect in your vessel. However, we do not cover the cost of repairing or replacing any defective part. We will also cover: Additions and deletions It is agreed that any items purchased for the vessel during any one period of insurance shall be deemed as being covered but limited to $25,000. It is further agreed that any items sold shall be deemed deleted from the schedule. In the event of a loss falling within the scope of the policy, receipts and invoices must be produced. Adjustments to the sum insured and premium will be completed at renewal. Accidental death We will pay your executors or administrators, the sum of $10,000 if at any time during the period of insurance you shall sustain accidental bodily injury whilst on board your vessel (including embarking and disembarking therefrom) which shall solely and independently of any other cause result in your death within 12 calendar months from the date of accident. Where there is more than one person entitled to cover under this extension our liability arising from any one accident will not be more than $10,000 in total. Emergency towage We will reimburse you, without deduction, the reasonable towing expenses incurred as a result of mechanical or electrical breakdown to your vessel whilst underway, or attempting to get underway other than from a xxxxxxx, xxxxxx or boat ramp. Our limit of liability shall not exceed $2,000 during any one policy year. Fire extinguishment and safety costs We will reimburse you for ...
Hull Insurance. A policy of hull insurance insuring the barges to be provided by Lafarge for the perils insured by the Xxxxxx Form 1953 (Rev. 70) as amended, or its equivalent, including strikes, riots and civil commotion and excluding collision liability.
Hull Insurance. The Lessee, at its own cost and expense, shall maintain or cause to be maintained in effect, with insurers of recognized reputation and responsibility, all-risk ground and flight aircraft hull insurance covering the Aircraft and all-risk coverage with respect to any Engines and Parts while removed from the Aircraft and not replaced by similar Engines or Parts, including in each case war-risk and allied perils, hijacking (air piracy) and governmental confiscation and expropriation insurance (except with respect to the country of registry) with such retentions (subject to the limitations set forth in Section 13.06 hereof) and in such form, and upon such terms and conditions (including coverage for cost of claims), and in amounts as the Lessee customarily maintains with respect to the aircraft in the Lessee's fleet of the same type and model and operated on the same routes as the Aircraft (except that the Lessee shall be required to maintain (i) allied perils, hijacking (air piracy) and governmental confiscation and expropriation insurance (except with respect to the country of registry) if the Aircraft is operated on routes where the custom is for major international Air Carriers flying comparable routes to carry such insurance and (ii) war risk insurance only if the Aircraft is operated in a war zone or a recognized area of armed hostilities), provided that such insurance shall at all times while the Aircraft is subject to this Lease and the Lien of the Indenture be on an agreed-value basis for an amount not less than an amount equal to the Stipulated Loss Value for the Aircraft from time to time.
Hull Insurance consists of premiums and other charges of insurers for Aircraft Hull All Risks Insurance as described in the Agreement, plus fees and expenses of insurance brokers in connection with the procurement or maintenance of such insurance, and surplus lines tax. United will agree to standard hull insurance coverage only. MARKUP TABLE ERJ-145 A ****% B ****% C ****% For the avoidance of doubt, the Markup cannot fall below **** percent (****%).
Hull Insurance. I understand that I am responsible for any damage or loss to Take Flight aircraft operated outside the terms of this agreement. I further understand that should said damage or loss be covered under the insurance policy, I will be responsible for all deductibles and any portion of the damage not covered by said insurance;
Hull Insurance. 39 Section 11.03 Insurance Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Hull Insurance. If FedEx, or any successor to FedEx's interest in the Aircraft, maintains hull insurance on the Aircraft, FedEx shall require its, or its successor's, hull insurers to waive any and all rights of subrogation, set-off, counterclaim and deduction, whether by attachment or otherwise, which they may have against the American Indemnitees, for any loss, damage or destruction of the Aircraft.
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.
