Hull and Machinery Sample Clauses

The Hull and Machinery clause defines the insurance coverage provided for the physical structure of a vessel and its essential operating equipment. This clause typically covers damage or loss to the ship's hull, engines, and machinery resulting from perils such as collisions, grounding, or fire. By specifying what parts of the vessel are insured and under what circumstances, the clause ensures that shipowners are protected against significant financial losses due to damage to their primary asset, thereby allocating risk and providing financial security in maritime operations.
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Hull and Machinery insurance against fire and usual marine risks on an agreed value basis, on a full cover/all risks basis according to English or American Hull Clauses with a reasonable deductible and upon such terms as shall from time to time be approved in writing by the Bank; and
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Hull and Machinery. Insurance to cover physical loss or damage to the vessel under the American Institute Hull Clauses for partial, constructive, and/or agreed total loss up to the agreed Insured Value. Vessel Insured Value Deductible --------------------------------------------------------------------------- Wind Surf $44,000,000 $500,000 Wind Spirit $20,000,000 $500,000 Wind Star $20,000,000 $500,000 ---------------------------------------------------------------------------
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Hull and Machinery. War Risks Insurance shall cover no less than the American Institute Hull War Risks and Strikes Clauses (December 1, 1977) or their Japanese or London Institute equivalents and shall correspond with the applicable clauses in the Hull and Machinery Insurance and shall include blocking and trapping coverage.
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Hull and Machinery. Loss, if any, payable to Citizens Asset Finance, a d/b/a of Citizens Leasing Corporation (the “Mortgagee”), for distribution by the Mortgagee first to itself and then to K-Sea Operating Partnership L.P., a Delaware limited partnership, as owner (the “Owner”), as their respective interests may appear, or order, except that, unless Underwriters have been otherwise instructed by notice in writing from the Mortgagee, in the case of any loss involving any damage to the Vessels or liability of the Vessels, the Underwriters may pay directly for the repair, salvage, liability or other charges involved or, if the Owner shall have first fully repaired the damage and paid the cost thereof, or discharged the liability or paid all of the salvage or other charges, then the Underwriters may pay the Owner as reimbursement therefor; provided, however, that if such damage involves a loss in excess of U.S. $250,000 or its equivalent, the Underwriters shall not make such payment without first obtaining the written consent thereto of the Mortgagee. In the event of an actual or constructive total loss or a compromised or arranged total loss of the Vessel or requisition of title, all insurance payments therefor shall be paid to the Mortgagee, for distribution by it in accordance with the terms of the applicable ship Mortgage. Loss, if any, payable to Citizens Asset Finance, a d/b/a of Citizens Leasing Corporation (the “Mortgagee”), for distribution by the Mortgagee first to itself and then to K-Sea Operating Partnership L.P., a Delaware limited partnership, as owner (the “Owner”), as their respective interests may appear, or order, except that, unless and until the Underwriters have been otherwise instructed by notice in writing from the Mortgagee, any loss may be paid directly to the person to whom the liability covered by this insurance has been incurred, or to the Owner to reimburse it for any loss, damage or expenses incurred by it and covered by this insurance, provided the Underwriters shall have first received evidence that the liability insured against has been discharged.
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Hull and Machinery. Owners warrant that they have in full force and effect Hull and Machinery insurance placed through reputable Brokers on Institute Time Clauses - Hull 1/10/83 for the value of U.S.$. 21.50 MIO(TWENTY ONE MILLION AND FIFTY THOUSAND). Such insurance to be maintained for the duration of this Charter. Owners shall furnish H & M policy cover note.
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Hull and Machinery. Insurance including War Risks cover on full conditions for a limit of no less than the actual value of each vessel owned or chartered by the Supplier and their subcontractors and used in the performance of this Contract. The territorial warranties of the policy should include the planned cable route.
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Hull and Machinery. The insurance shall be concluded on the basis of the Institute Time Clauses- Hulls 1/1/95 amended as follows: 2.1.1. The insurer's liability for collision damages (clause 8) is extended to 4/4 2.1.2. The cover is extended to damages caused by wave action due to excessive speed of passing vessels (so-called collision without contact). 2.1.3. Collisions with fixed and floating objects are included in the scope of insurance. 2.1.4. The scope of cover shall be extended to damages occurring during towing and assistance to all floating objects in situations stipulated in clause 1.1 and including towing of rescue or spillage control equipment. 2.1.5. The insurance is subject to a deductible in the amount of 5000 USD for m/s Kapitan Poinc and SAR 3000 type vessels and 750 USD for other rescue vessels and m/s ▇▇▇▇▇▇▇ ▇▇, according to the scope of its application specified in clause 12 of ITC Hulls 1/11/95 and excluding the use of a deductible in case of collision damages suffered and caused as a result of collision with other vessels, fixed objects or other floating objects. 2.1.6. The insurer's liability for damages covered by the Institute Additional Perils Clauses – Hulls 1/11/95 shall be extended. 2.1.7. The insurer's liability for damages covered by the Institute War and Strikes Clauses Hulls Time 1/11/95 shall be extended. 2.1.8. The Electronic Date Recognition Endorsement-C shall be included in the conditions of insurance. 2.1.9. The Institute Radioactive Contamination, Chemical, Biological, Bio- Chemical and Electromagnetic Weapons Exlusion Clause 10/11/03 shall be included in conditions of the insurance.
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Hull and Machinery. Increased Value, and War Risks policies (which shall include collision liability and tower’s liability) covering up to one hundred twenty five percent (125%) of the agreed hull value of HSM’s fleet of towboats and barges.
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Hull and Machinery. Loss, if any, payable to DVB Bank SE, as mortgagee (the "M01igagee"), for distribution by it to itself and to W▇▇▇▇▇▇▇ STEAMSHIP CORPORATION, as owner (the "Owner"), as their respective interests may appear, or order, except that, unless underwriters have been otherwise instructed by notice in writing from the Mortgagee, in the case of any loss involving any damage to the Vessel, the underwriters may pay directly for the repair, salvage, and other charges involved or, if the Owner shall have first fully repaired the damage or paid all of the salvage and other charges, then the underwriters may pay the Owner as reimbursement therefore; provided, however, that if such damage involves a loss of U.S.$[500,000] or more or its equivalent, the underwriters shall not make such payment without first obtaining the written consent thereto of the Mortgagee. In the event of the actual total loss or agreed, compromised or constructive total loss of the Vessel, payment shall be made to the Mortgagee for distribution by it to itself and to the Owner as their respective interests appear. 24 SK 01029 0083 6034321 v7
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Related to Hull and Machinery

  • Boiler and Machinery Insurance The Owner shall have the option of purchasing and maintaining boiler and machinery insurance required by the Contract Documents or by law, which shall specifically cover such insured objects during installation and until final acceptance by the Owner. If purchased this insurance shall include interests of the Owner, Contractor, Subcontractors and Sub-subcontrators in the Work.

  • Machinery Business machines and mechanical equipment belonging to Tenant which cause noise and/or vibration that may be transmitted to the structure of the Building or to any other leased space to such a degree as to be objectionable to Landlord or to any tenants in the Complex shall be placed and maintained by the party possessing the machines or equipment, at such party’s expense, in settings of cork, rubber or spring type noise and/or vibration eliminators, and Tenant shall take such other measures as needed to eliminate vibration and/or noise. If the noise or vibrations cannot be eliminated, Tenant must remove such equipment within ten (10) days following written notice from Landlord.

  • Vessels (A) All of the vessels described in the Registration Statement, the General Disclosure Package and the Prospectus, except for the Contracted Vessels (each of which a Subsidiary has contracted to acquire), are owned directly by Subsidiaries); each of the vessels listed on Schedule F-1 (the “Owned Vessels”) hereto has been duly registered as a vessel under the laws and regulations and flag of the jurisdiction set forth opposite its name on Schedule F-1 in the sole ownership of the Subsidiary set forth opposite its name on Schedule F-1 and no other action is necessary to establish and perfect such entity’s title to and interest in such vessel as against any charterer or third party; each such Subsidiary has good title to the applicable Owned Vessel, free and clear of all mortgages, pledges, liens, security interests and claims and all defects of the title of record except for those liens arising under Credit Facilities, each as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, and such other encumbrances which would not, in the aggregate, result in a Material Adverse Effect; and each such Owned Vessel is in good standing with respect to the payment of past and current taxes, fees and other amounts payable under the laws of the jurisdiction where it is registered as would affect its registry with the ship registry of such jurisdiction except for failures to be in good standing which would not, in the aggregate, result in a Material Adverse Effect. Upon delivery to and acceptance by the relevant Subsidiary under the MoAs and the Newbuilding Contracts described in the Registration Statement, General Disclosure Package and Prospectus, each of the vessels listed on Schedule F-2 hereto and specified as being under contract (the “Contracted Vessels”) for delivery to and acceptance by a Subsidiary will be duly registered as a vessel under the laws of the jurisdiction set forth opposite its name on Schedule F-2, or under the laws of a generally accepted shipping industry flag jurisdiction, in the sole ownership of the Subsidiary set forth opposite its name on Schedule F-2, on such date, each such Subsidiary will have good title to the applicable Contracted Vessel, free and clear of all mortgages, pledges, liens, security interests, claims and all defects of the title of record, except for any mortgages, pledges, liens, security interests or claims arising from any financing arrangement which the Company or Subsidiary may enter to finance the acquisition of the Contracted Vessel and except such encumbrances which would not, in the aggregate, result in a Material Adverse Effect; and each such Contracted Vessel will be in good standing with respect to the payment of past and current taxes, fees and other amounts payable under the laws of the jurisdiction where it is registered as would affect its registry with the ship registry of such jurisdiction. (B) Each Owned Vessel is, and the Company will use reasonable commercial efforts to ensure that each Contracted Vessel will be, operated in compliance with the rules, codes of practice, conventions, protocols, guidelines or similar requirements or restrictions imposed, published or promulgated by any Governmental Authority, classification society or insurer applicable to the respective vessel (collectively, “Maritime Guidelines”) and all applicable international, national, state and local conventions, laws, regulations, orders, Governmental Licenses and other requirements (including, without limitation, all Environmental Laws), except where such failure to be in compliance would not have, individually or in the aggregate, a Material Adverse Effect. The Company and each applicable Subsidiary are, and with respect to the Contracted Vessels will be, qualified to own or lease, as the case may be, and operate such vessels under all applicable international, national, state and local conventions, laws, regulations, orders, Governmental Licenses and other requirements (including, without limitation, all Environmental Laws) and Maritime Guidelines, including the laws, regulations and orders of each such vessel’s flag state, except where such failure to be so qualified would not have, individually or in the aggregate, a Material Adverse Effect. (C) Each Owned Vessel is, and each Contracted Vessel will be, classed by any of Lloyd’s Register of Shipping, American Bureau of Shipping, Det Norske Veritas or a classification society which is a full member of the International Association of Classification Societies and each Owned Vessel is, and the Company will use reasonable commercial efforts to ensure each Contracted Vessel will be, in class with valid class and trading certificates, without any overdue recommendations.

  • Machinery and Equipment Except for items disposed of in the ordinary course of business, all computers and related software, machinery, tools, furniture, fixtures, equipment, vehicles, leasehold improvements and all other tangible personal property (hereinafter “Fixed Assets”) of the Company currently being used in the conduct of its business, or included in determining the net book value of the Company on the Balance Sheet Date, together with any machinery or equipment that is leased or operated by the Company, are in fully serviceable working condition and repair, ordinary wear and tear excepted. Said Fixed Assets shall be maintained in such condition from the date hereof through the Closing Date. Except as described on Schedule 4.14 hereto, all Fixed Assets owned, used or held by the Company are situated at its business premises and are currently used in its business. Schedule 4.14 describes all Fixed Assets owned by or an interest in which is claimed by any other person (whether a customer, supplier or other person) for which the Company is responsible (copies of all agreements relating thereto having been delivered to the Purchaser), and all such property is in the Company’s actual possession and is in such condition that upon the return of such property in its present condition to its owner, the Company will not be liable in any amount to such owner. There are no outstanding requirements or recommendations by any insurance company that has issued a policy covering either (i) such Fixed Assets or (ii) any liabilities of the Company relating to operation of the Business, or by any board of fire underwriters or other body exercising similar functions, requiring or recommending any repairs or work to be done on any Fixed Assets or any changes in the operations of the Business, any equipment or machinery used therein, or any procedures relating to such operations, equipment or machinery. All Fixed Assets of the Company are set forth on Schedule 4.14 hereto.

  • Supplies and Equipment The Union and employees will not use state-purchased supplies or equipment to conduct union business or representational activities. This does not preclude the use of the telephone for representational activities if there is no cost to the Employer, the call is brief in duration and it does not disrupt or distract from the Employer’s business.