Common use of Obligation to Collect Clause in Contracts

Obligation to Collect. Mortgagor shall, at no cost or expense to Mortgagee, have the duty and responsibility to make all proofs of loss and take any and all other steps necessary as a prudent owner or as reasonably directed by Mortgagee to effect collections from underwriters for any loss under any insurance on or in respect of the Vessel or the operation thereof.

Obligation to Collect. Mortgagor shall, at no cost or expense to --------------------- the Mortgagee, have the duty and responsibility to make all proofs of loss and take any and all other steps necessary as a prudent owner or as reasonably directed by Mortgagee to effect collections from underwriters for any loss under any insurance on or in respect of the Vessel or the operation thereof; provided, that Mortgagor shall have such duty only to the extent that -------- such conduct would be taken by a prudent owner.

Obligation to Collect. Mortgagor shall, at no cost or expense to --------------------- the Mortgagee, have the duty and responsibility to make all proofs of loss and take any and all other steps necessary as a prudent owner or as reasonably directed by Mortgagee to effect collections from underwriters for any loss under any insurance on or in respect of the Vessel or the operation thereof; provided that Mortgagor shall have such duty only to the extent that such conduct would be taken by a prudent owner.

Obligation to Collect. Mortgagor shall, at no cost or --------------------- expense to the Mortgagee, have the duty and responsibility to make all proofs of loss and take any and all other steps necessary as a prudent owner or as reasonably directed by Mortgagee to effect collections from underwriters for any loss under any insurance on or in respect of the Vessel or the operation thereof; provided, that Mortgagor shall have such duty only to the -------- extent that such conduct would be taken by a prudent owner.

Obligation to Collect. Mortgagor shall, at no cost or expense to --------------------- the Mortgagee, have the duty and responsibility to make all proofs of loss and take any and all other steps necessary as a prudent owner or as reasonably directed by Mortgagee to effect collections from underwriters for any loss under any insurance on or in respect of any of the Vessel Vessels or the operation thereof; provided that Mortgagor shall have such duty only to the extent that such conduct would be taken by a prudent owner.