Common use of Hull Clause in Contracts

Hull. Lessor shall maintain aircraft hull insurance in the amount at least equal to the full replacement value of the Aircraft, and such insurance shall name Lessor and any first lien mortgage holder as loss payees as their interests may appear. Said policy shall contain a waiver of subrogation clause in favor of all Additional Named Insureds.

Appears in 2 contracts

Sources: Aircraft Lease Agreement, Aircraft Lease Agreement (U-Store-It Trust)

Hull. Lessor shall maintain aircraft hull insurance in an amount not less than the amount at least equal agreed value on file with the insurers (including, without limitation, foreign object damage insurance), which the parties agree shall be deemed to be the full replacement value of the Aircraft, and such insurance shall name Lessor and any first lien mortgage holder as loss payees as their interests may appearpayee. Said policy shall contain a waiver of subrogation clause in favor of all Additional Named Insuredsadditional named insureds.

Appears in 1 contract

Sources: Aircraft Dry Lease Agreement (Textron Inc)