Common use of K-sure Policy Clause in Contracts

K-sure Policy. (a) Evidence acceptable to the Agents that the K-sure Policy: (iii) has been issued; (iv) is in full force and effect; and (v) that the K-sure Premium has been or will, on the first Utilisation Date, be paid in full either by way of Sponsor Funding or from the proceeds of the first FSRU Tranche Loan to be advanced to the Borrower and the K-sure Agent has not received notice or, following request, any confirmation from K-sure that the K-sure Policy: (A) has been terminated; (B) has been breached; or (C) is the subject of any arbitration or legal proceedings.

K-sure Policy. (a) Evidence acceptable to the Agents that the K-sure Policy: (iiii) has been issued; (ivii) is in full force and effect; and (viii) that the K-sure Premium has been or will, on the first Utilisation Date, be paid in full either by way of Sponsor Funding or from the proceeds of the first FSRU Tranche Loan to be advanced to the Borrower and the K-sure Agent has not received notice or, following request, any confirmation from K-sure that the K-sure Policy: (A) has been terminated; (B) has been breached; or (C) is the subject of any arbitration or legal proceedings.