Common use of P&I Clause in Contracts

P&I. the Borrower, the Lessee and the Bareboat Charterer or any other person fails or omits to comply with any requirements of the protection and indemnity association or other insurer with which the Ship is entered for insurance or insured against Protection and Indemnity Risks (including oil pollution risks) to the effect that any such cover (including, without limitation, cover in respect of liability for Environmental Claims arising in jurisdictions where the Ship operates or trades) is, or may be liable to cancellation, qualification or exclusion at any time; or

P&I. the Borrower, the Lessee and the Bareboat Charterer or any other person fails or omits to comply with any requirements of the protection and indemnity association or other insurer with which any of the Ship Ships is entered for insurance or insured against Protection protection and Indemnity Risks indemnity risks (including oil pollution risks) to the effect that any such cover relative to any of the Ships (including, without limitation, any cover in respect of liability for Environmental Claims arising in jurisdictions where the any such Ship operates or trades) is, is or may be liable to cancellation, qualification or exclusion at any time; or