Insurance of Investments. 10.14.1 The Manager will insure, or cause to be insured, and keep insured, or cause to be kept insured, the Investments in the normal course of business usually insured, in the name of the Trust (or, in the case of Investments held through any Special Purpose Vehicle, in the name of such Special Purpose Vehicle) with the interest of the Trustee noted on the policies in place (subject to Clause 10.14.2 below) in such amount as is determined by the Manager, with such reputable insurance company as may be determined by the Manager after consultation with the Trustee (which may be an insurance company related to the Manager) and to the full insurable value thereof the Investments which are of a nature or kind capable of being so insured, against fire, loss of rent, interruption or cessation of operation of the hotels, and such other risks as the Manager or the Trustee may deem prudent. Either the Manager or the Trustee may effect such further or other insurances as it may deem necessary or prudent.
Insurance of Investments. The Manager will insure or cause to be insured and keep insured or cause to be kept insured the Investments which are in the normal course of business usually insured, in the name of the Trustee for such amount as is determined by the Manager or as may be required by the Trustee, with such reputable insurance company as may be determined by the Manager and approved by the Trustee (which may be an insurance company related to the Manager or the Trustee) and to the full insurable value thereof, against fire, loss of rent and such other risks as the Manager or the Trustee may deem necessary, prudent or customary. Either the Manager or the Trustee may effect such further or other insurances as it may deem necessary, prudent or customary. The Manager shall pay or procure the payment of premia and any other sums payable on any such insurances effected by the Manager or the Trustee out of the Deposited Property on a timely basis within all requisite periods. In the event that pursuant to the provisions of this Deed, a borrowing is made by the Trustee on the security of any such Investment, the interest of the security holder shall, if the Manager so requires, be noted on the particular insurance policy in place in respect of that Investment and it shall, if the Manager so requires, be a term of the security document entered into by the Trustee that the Trustee agrees with the security holder to allow direct payment according to the interest of the security holder of all or part of any insurance proceeds under the insurance policy from the insurer to the security holder.
