Such Insurances shall be effected through the Approved Broker with or directly by the Lessee or another member of the Teekay Guarantor Group, with a first class underwriter or group of underwriters, insurance companies and associations approved, such approval not to be unreasonably withheld or delayed, by the Facility Agent and underwritten a full one hundred per cent.
The provisions of clauses 10.1.5 to 10.1.10 inclusive are, in relation to the Teekay Guarantor and QGTC, subject to the provisions of clause 10.4.
If the above conditions are met no Event of Default shall be deemed to have arisen or to continue in respect of the Teekay Guarantor Default.
The parties to this Agreement acknowledge that Teekay LNG Partners L.P. ("Teekay LNG") may acquire the whole shareholding interest of the Teekay Guarantor in the Teekay Charterer or the Borrowers during the period falling between the Effective Date (as such term is defined in the Supplemental Agreement) and the first Delivery Date.
The Borrowers undertake to procure that the Retention Account shall be operated by the relevant member of the Teekay Guarantor Group in accordance with the provisions of clause 8.6.24 and the Retention Account Pledge.