Insurance Undertakings definition

Insurance Undertakings means, in relation to a Ship, any undertaking to be provided by an approved person in favour of the Security Agent in the agreed form in respect of such person’s interest in the Ship’s Insurances, as required in accordance with clause 24.4 (Placing of cover).

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Insurance Undertakings means the following:

Insurance Undertakings means the undertakings set out in Part II of Schedule 12 (Collateral Rigs and Insurance Undertakings).

Examples of Insurance Undertakings in a sentence

In respect of a Ship, the undertakings in this Clause 27 (Insurance Undertakings) shall apply and remain in force on and from the date of this Agreement and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
In the event of any discrepancies between the ship covenants and the insurance covenants in the Mortgages and the undertakings set out in Schedule 11 (Vessel and Insurance Undertakings) hereto, the undertakings in Schedule 11 (Vessel and Insurance Undertakings) hereto shall take precedent.
The Borrower fails to insure the Ship in the manner specified in Clause 24 (Insurance Undertakings) or fails to renew the Insurances at least five (5) days prior to the date of expiry thereof and produce prompt confirmation of such renewal to the Agent provided that if the insurers withdraw their cover an Event of Default shall be deemed to have occurred upon issue of the insurer's notice of withdrawal.
The undertakings in this Clause 24 (Insurance Undertakings) remain in force on and from the Delivery Date and throughout the rest of the Security Period except as the Agent may otherwise permit.
The undertakings in this Clause 22 (Insurance Undertakings) remain in force on and from the Utilisation Date and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
The undertakings in this Clause 21 (Insurance Undertakings) remain in force on and from the relevant Delivery Date throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
The undertakings in this Clause 14 (Insurance Undertakings) remain in force on and from the Delivery Date and throughout the rest of the Security Period except as the Agent, acting with the authorisation of the Majority Lenders may otherwise permit.
Your quote may also be issued under a Risk Transfer Terms of Business Agreement with Insurance Undertakings.
The undertakings in this Clause 22 (Insurance Undertakings) remain in force throughout the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
The undertakings in this Clause 21 (Insurance Undertakings) remain in force on and from the Release Date and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.

More Definitions of Insurance Undertakings

Insurance Undertakings means those undertakings authorised to operate in Member States in accordance with Directive 73/239/EEC for non-life insurance, 2002/83/EC for life insurance and Directive 2005/68/EC for reinsurance.

Insurance Undertakings means: the insurance undertakings authorized in Italy and the EU insurance undertakings pursuing business in Italy either under the right of establishment or the freedom to provide services;

Insurance Undertakings means insurance undertakings referred to in point (a) of the first subparagraph of Article 1(3) of the Accounting Directive;