Common use of Review of insurance requirements Clause in Contracts

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 2 contracts

Sources: Fourth Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship the Owners or its Owner the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (DryShips Inc.)

Review of insurance requirements. The Lender shall be entitled to review after prior consultation with the Borrower the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged the Owner or the Ship and its or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged the Owner or the Ship or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Star Cosmo Llc.), Loan Agreement (Star Bulk Carriers Corp.)

Review of insurance requirements. The Lender shall be entitled to review after prior consultation with the Borrower the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged either Owner or either Ship and its or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged any Owner or any Ship or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Box Ships Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time time, in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, Lender significant and capable of affecting a Mortgaged the Borrower or the Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Borrower may be subject), ) and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship Borrower or its Owner Ship and its or their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner that Borrower may be subject), and may appoint insurance consultants in relation to this review at the cost of the that Borrower.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship Borrower or its Owner Ship and its or their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner that Borrower may be subject), and may appoint insurance consultants in relation to this review at the cost of the that Borrower.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged the Borrower or the Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Borrower may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time time, in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, Lender significant and capable of affecting a Mortgaged any Borrower or any Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner any Borrower may be subject), ) and may appoint insurance consultants in relation to this review at the cost of the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Review of insurance requirements. The Lender shall be entitled to review after prior consultation with the Borrower the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged any Owner or any Ship and its or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Danaos Corp)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged the Owner or the Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Review of insurance requirements. The Lender Lenders shall be entitled to review after prior consultation with the Borrower the requirements of this Clause 11 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the LenderLenders, significant and capable of affecting a Mortgaged the Owner or the Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship the Owners Borrowers or its Owner the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners Borrowers may be subject), and may appoint insurance consultants in relation to this review at the cost of the BorrowerBorrowers.

Appears in 1 contract

Sources: Amending and Restating Agreement (DryShips Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged any Borrower or any Ship and its or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Borrowers may be subject), and may appoint insurance consultants in relation to this review at the cost of the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Omega Navigation Enterprises, Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged Ship the Owners or its Owner the Ships and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Owners may be subject), and may appoint insurance consultants in relation to this review at the cost of the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged either Owner or the Ship or its Owner owned by it and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant that Owner may be subject), and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Amending and Restating Agreement (Star Bulk Carriers Corp.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged the Borrower or the Financed Ship or and its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner Borrower may be subject), ) and may appoint insurance consultants in relation to this review at the cost of the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Euroseas Ltd.)

Review of insurance requirements. The Lender shall be entitled to review the requirements of this Clause 11 12 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Lender, significant and capable of affecting a Mortgaged any Borrower or any Ship and its or its Owner and their insurance (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which the relevant Owner any Borrower may be subject), and may appoint insurance consultants in relation to this review at the cost of the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Scorpio Bulkers Inc.)