Common use of Hull and Machinery Clause in Contracts

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

Appears in 7 contracts

Sources: Loan Agreement (Top Ships Inc.), Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Hull and Machinery. insurance Insurance against fire and usual marine risks on an agreed value basis, on a full cover/all risks basis according to English or American Institute Hull Clauses with a reasonable deductible and upon such terms as shall from time to time be approved in writing by the BankMortgagee; and

Appears in 1 contract

Sources: First Preferred Naval Mortgage (FreeSeas Inc.)