Protection and Indemnity insurance against protection and indemnity risks for the full value and tonnage of the vessel insured (as approved in writing by the Bank) according to the relevant rules and deductibles provided thereof for all risks including Pollution (and if the vessel is passenger ship including liability towards third parties which is not covered by the War Risk Insurance) insured by P+I Clubs, members of the International Group of Protection and Indemnity Associations. If any risks are excluded or the deductibles as provided by the rules have been altered, the written consent of the Bank shall have to be previously required. In case that crew liabilities (including without limitation loss of life, injury or illness) have been entirely excluded from the association cover or insured on a deductible excess basis, (always subject to the prior written consent of the Bank) such liabilities shall have to be further insured separately with other underwriters acceptable to the Bank and upon such terms as shall from time to time be approved in writing by the Bank; and
Protection and Indemnity. Insurance against Protection and Indemnity Risks for the full value and tonnage of the Vessel insured (as approved in writing by the Bank) in accordance with the relevant Rules/Protection and Indemnity Institute Clauses and deductibles provided thereof and/or agreed for all risks including Pollution with Excess Liability insured by P&I Club(s) and/or underwriter(s) and/or insurance company(ies) approved in writing by the Bank. No risks will be excluded and no deductibles provided for in the rules and/or agreed will be altered, without the written consent of the Bank having been previously obtained. If crew liabilities (inductively, loss of life, injury or illness) have been excluded from the insurance cover or insured on a deductible excess basis, such liabilities shall be further insured separately with other underwriters, always acceptable to the Bank and upon such terms as shall from time to time be approved in writing by the Bank;
Protection and Indemnity. RCCL shall, at its own expense, obtain and ------------------------ maintain protection and indemnity insurance with first-class Marine Underwriters which shall provide coverage to RCCL and SEAVISION. In the event that SEAVISION or its employees cause any loss or damage covered by this insurance, or which would have been covered by this insurance but for any deductible, SEAVISION agrees to reimburse owners for the deductible applicable to such loss or damage; provided however such reimbursement shall not exceed [Redacted - confidential treatment requested].
Protection and Indemnity. 1.1 The Underwriters agree to indemnify the Assured for any sum or sums paid by the Assured to any other person or persons by reason of the Assured becoming legally liable, as owner of the Vessel, for any claim, demand, damages and/or expenses, where such liability is in consequence of any of the following matters or things and arises from an accident or occurrence during the period of this insurance:
Protection and Indemnity. Under Section B, we will pay all sums that you become legally liable to pay as compensatory damages because of bodily injury or property damage arising out of the ownership, operation of, maintenance or use of the described watercraft, tenders/dinghies and/or motors described while in the defined navigational limits. We will pay up to the limit of liability as stated on the declaration page for any one occurrence.
Protection and Indemnity. SECTION 56
Protection and Indemnity. Protection and Indemnity coverage will be written with a One Million Dollar ($1,000,000.00) combined single limit for bodily injury and property damage, including all standard policy form extensions and be supplemented by Bumbershoot Liability coverage as described in Paragraph l below. The policy shall be written on an occurrence form. The Agent Bank and Banks will be included as additional insureds under the policy.
Protection and Indemnity insurance against all protection and indemnity risks including pollution for the full value and tonnage of the vessel insured (as approved in writing by the Bank) according to the relevant rules and deductibles of a club or association which is a member of the International Group of Protection and Indemnity Associations. If any risks are excluded or the deductibles as provided by the rules are altered, the prior written consent of the Bank shall be required. In case that crew liabilities (including without limitation loss of life, injury or illness) have been entirely excluded from the association cover or insured on a deductible excess basis, (always subject to the prior written consent of the Bank) such liabilities shall have to be further insured separately with other underwriters acceptable to the Bank and upon such terms as shall from time to time be approved in writing by the Bank; and
Protection and Indemnity. Payment of any recovery the member is entitled to make out of the funds of the club in respect of any liabilities incurred by him shall be made to the member or his order unless and until the club receives notice from ABN AMRO CAPITAL USA LLC as security trustee and as mortgagee, 100 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, to the contrary, in which event all recoveries shall thereafter be paid to ABN AMRO CAPITAL USA LLC, 100 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, or their order, provided always that no liability whatsoever shall attach to the club, its managers or their agents for failure to comply with the latter obligation until after the expiry of two clear business days from the receipt of such notice. APPENDIX G INTENTIONALLY OMITTED Appendix H FORM OF MASTER AGREEMENT ASSIGNMENT THIS MASTER AGREEMENT ASSIGNMENT, dated [●], 2014 (this “Assignment”), is made by EAGLE BULK SHIPPING INC., a Mxxxxxxx Island corporation (the “Assignor”), to and in favor of ABN AMRO CAPITAL USA LLC in its capacity as Security Trustee under the Loan Agreement described below (the “Assignee”). Capitalized terms used but not defined herein shall have the meaning assigned such terms in the Loan Agreement (as defined below).
Protection and Indemnity. Minimum Limits: $1,000,000 per occurrence inclusive of Xxxxx Act Crew Liability, Removal of Wreck, Collision/Tower’s Liability unless otherwise covered in the Hull & Machinery.
