Loss Payable Clauses definition

Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance document, such Loss Payable Clauses to be in the forms set out in paragraph 4 of this Schedule, or such other form as the Bank may from time to time agree in writing;

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Loss Payable Clauses means the provisions concerning payment of claims under the Ship’s Insurances in the form scheduled to the Deed of Covenant or in another approved form.

Loss Payable Clauses means, in respect of a Vessel, the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance documents, such provisions to be in the forms set out in schedule 1 to the General Assignment relating thereto or in such other forms as may from time to time be required or agreed in writing by the Agent;

Examples of Loss Payable Clauses in a sentence

• This Notice of Assignment and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.

• This Notice and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.

• The policies of all such casualty insurance shall contain standard Lender’s Loss Payable Clauses (and, with respect to liability and interruption insurance, additional insured clauses) issued in favor of Lender under which all losses thereunder shall be paid to Lender as Lender’s interest may appear.

• The Borrower agrees to apply all sums receivable under the Insurances which are paid to it in accordance with the Loss Payable Clauses in repairing all damage and/or in discharging the liability in respect of which such sums shall have been received.

• The policies of all such casualty insurance shall contain standard Lender's Loss Payable Clauses issued in favor of Lender under which all losses thereunder shall be paid to Lender as Lender's interest may appear.

• The policies of all such casualty insurance shall contain standard Lender's Loss Payable Clauses issued in favor of Agent (on behalf of Lenders) under which all losses thereunder shall be paid to Agent (on behalf of Lenders) as Agent's interest may appear.

• The Charterers shall apply all sums receivable under the Insurances which are paid to the Charterers in accordance with the Loss Payable Clauses in repairing all damage and/or in discharging the liability in respect whereof the insurance moneys shall have been received.

• The policies of all such casualty insurance shall contain standard Lender’s Loss Payable Clauses (and, with respect to liability and interruption insurance, additional insured clauses) issued in favor of Agent.

• The policies of all such casualty insurance shall contain standard Lender's Loss Payable Clauses (and, with respect to liability and interruption insurance, additional insured clauses) issued in favor of Lender under which all losses thereunder shall be paid to Lender as Lender's interest may appear.

• The policies of all such casualty insurance shall contain standard Loss Payable Clauses issued in favor of the Secured Parties under which all losses thereunder shall be paid to the Secured Parties as the Secured Parties’ interest may appear.

More Definitions of Loss Payable Clauses

Loss Payable Clauses has the meaning given to that expression in the Deed of Covenant;

Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance documents, such provisions to be in the forms set out in schedule 1 or in such other forms as may from time to time be agreed in writing by the Mortgagee;

Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances of an Owned Ship or a Linkspan which are to be incorporated in the relevant insurance documents, such Loss Payable Clauses to be in the forms set out in the Schedules to the Deed of Covenant and/or Insurance Assignment and/or Charterer's Insurance Assignment and/or Stena Germanica Assignment in relation to the relevant Ship or Linkspan, in the form set out in Schedule 8 or in such other forms as may from time to time be agreed in writing by the Agent;

Loss Payable Clauses means, in relation to each Ship, the provisions regulating the manner of payment of sums receivable under the Insurances for such Ship which are to be incorporated in the relevant insurance documents, such provisions to be in such forms as may from time to time be required or agreed in writing by the Mortgagee;

Loss Payable Clauses shall have the meaning given thereto in each of the Collateral Deeds;