Independent report. If the Agent asks the Borrower for a detailed report from an approved independent firm of marine insurance brokers giving their opinion on the adequacy of the Insurances then the Agent shall be provided promptly with such a report at no cost to the Agent or (if the Agent obtains such a report itself) the Borrower shall reimburse the Agent for the cost of obtaining that report.
Independent report. The Custodian shall, at its expense, complete an annual Section 5970 audit and provide the Client a copy of its annual Section 5970 report as such report is completed and made available in final form by the Custodian’s auditors.
Independent report. The Agent may obtain (for the cost of the Lenders), a detailed report signed by an independent firm of marine insurance brokers appointed by the Agent stating the opinion of such firm as to the adequacy of the Insurances then maintained on the Ship.
Independent report the Lessor shall be entitled to request the Lessee (at the cost of the Lessee), to furnish the Lessor with a detailed report signed by an independent firm of insurance brokers appointed by the Lessor dealing with the insurances maintained on the Ship and stating the opinion of such firm as to the adequacy thereof. The Lessor shall be entitled to request the furnishing of a report under this clause at the time of Delivery and thereafter if the insurance advisors of the Lessor recommend that a report be obtained following the annual audit of the shipping insurance portfolio of the Lessor Group or, if earlier, at the time of any material change in the Insurances or in the identity of the Approved Brokers or the protection and indemnity and/or war risks association responsible for such Insurances or if the Lessor reasonably believes that there has been a material change in insurance market practice in respect of vessels of similar type to the Ship;
Independent report. The Facility Agent shall be entitled to obtain a detailed report on the adequacy of the Insurances and/or Reinsurances on an annual basis and when the terms of the Insurances and/or Reinsurances have been changed from the Insurance Advisor and the Borrower shall reimburse the Facility Agent for the cost of obtaining any such report on an annual basis and following any change to the terms of such Insurances and/or Reinsurances, provided that such costs have been pre-approved by the Borrower (not to be unreasonably withheld or delayed).
Independent report. The Obligors shall reimburse the Security Agent on demand for all reasonable costs and expenses incurred by the Security Agent in obtaining (a) on an annual basis for each Ship a report on the adequacy of the obligatory Insurances from an insurance adviser instructed by the Security Agent; and (b) on the occurrence of an Event or Default or an incident causing severe damage to a Ship in excess of the Major Casualty Amount at any time requested in writing, a report on the adequacy of the obligatory Insurances from an insurance adviser instructed by the Security Agent.
Independent report. (a) If the Agent, upon being instructed to do so by any Lenxxx, xsks the Borrower for a detailed report from an approved independent firm of marine insurance brokers giving their opinion on the adequacy of a Ship’s Insurances then the Agent shall be provided promptly with such a report.
Independent report. ITD shall contract with an independent third party to prepare a report for each Project.
Independent report. Upon receipt of a proposal pursuant to Section 4.02.1 herein, NASD Regulation may request that the Parties retain an independent third party to analyze whether the services being proposed are comparable in scope and quality to those being performed by NASD Regulation. The Parties will share the cost of this analysis equally. Such independent third party will have sixty (60) days to provide a written analysis of its findings to the Parties.
Independent report. The Facility Agent shall commission an independent firm of insurance consultants to review and report upon the adequacy of the Insurances to be effected and maintained in accordance with clause 8.5.1(a). The Borrowers undertake to procure that the Lessee shall provide or cause the primary insurer or Approved Broker or association manager, as the case may be, to provide all the policies of insurance, rules book of association and any other documents which will be necessary to the Facility Agent and their insurance consultant upon reasonable request by the Facility Agent. The Facility Agent shall commission such reviews and reports to coincide with the delivery of a Ship (in satisfaction of the condition precedent in item 8 of Part 4 of Schedule 4), for each new policy year and at any other time if there is any change in the Insurances or, in the opinion of the Facility Agency, a change in insurance market practice. The cost of each review and report will be borne by the Borrowers and shall (to the extent not paid by way of a remittance from the Operating Account) be payable by the Borrowers to the Facility Agent promptly following receipt by the Borrowers of an invoice from the Facility Agent evidencing such costs.
