P&I risks definition
P&I risks means the usual risks (including liability for oil pollution, excess war risk P&I cover) covered by a protection and indemnity association which is a member of the International Group of protection and indemnity associations (or, if the International Group ceases to exist, any other leading protection and indemnity association or other leading provider of protection and indemnity insurance) (including, without limitation, the proportion (if any) of any collision liability not covered under the terms of the hull cover).
P&I risks means the usual risks (including liability for oil pollution, excess war risk P&I cover) covered by a protection and indemnity association which is a member of the International Group of protection and indemnity associations (or, if the International Group ceases to exist, any other leading protection and indemnity association or other leading provider of protection and indemnity insurance) (including, without limitation, the proportion (if any) of any collision liability not covered under the terms of the hull cover). In this clause 24, a reference to “approved” means approved in writing by the Agent acting on the instructions of all Lenders (acting reasonably). For the purpose of this clause 24:
P&I risks means the usual risks (including liability for oil pollution, excess war risk P&I cover) covered by a P&I association.
Examples of P&I risks in a sentence
Each Party undertakes that it will throughout the term of this Agreement effect and maintain insurance cover on industry standard terms with reputable insurers in respect of hull & machinery, conventional P&I risks, general liability and liability to third parties (including liability arising out of the use and operation of containers and chassis).
More Definitions of P&I risks
P&I risks means the usual risks (including liability for oil pollution, excess war risk P&I cover) covered by a protection and indemnity association which is a member of the International Group of protection and indemnity associations (or, if the International Group ceases to exist, any other leading protection and indemnity association or other leading provider of protection and indemnity insurance) (including, without limitation, the proportion (if any) of any collision liability not covered under the terms of the hull cover). policy, in relation to any insurances, includes a slip, cover note, certificate of entry or other document evidencing insurance or its terms. war risks includes the risk of loss arising when a Ship is damaged through use of arms or other instruments of war for war purposes and all war risks as covered on the latest version of the Nordic Marine Insurance Plan. In this clause 24, a reference to “approved” means approved in writing by the Agent acting on the instructions of all Lenders (acting reasonably). For the purpose of this clause 24: