Common use of Mortgagee’s interest and additional perils insurances Clause in Contracts

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s interest marine insurance, in an amount which equals 110 per cent. of the Loan, and a mortgagee’s interest additional perils insurance, in an amount which equals 100 per cent. of the Loan, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 2 contracts

Sources: Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s interest marine insuranceinsurance and a mortgagee’s interest additional perils insurance in each case, in an amount which equals 110 per cent. of the Loan, and a mortgagee’s interest additional perils insurance, in an amount which equals 100 per cent. of the Loan, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 1 contract

Sources: Term Loan Facility (Okeanis Eco Tankers Corp.)

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s 's interest marine insurance, in an amount which equals 110 per cent. of the Loan, and a mortgagee’s 's interest additional perils insurance, in an amount which equals 100 per cent. of the Loan, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 1 contract

Sources: Term Loan Facility (Navios Maritime Partners L.P.)

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s 's interest marine insurance, in an amount which equals 110 per cent. of the Loan, insurance and a mortgagee’s 's interest additional perils insurance, insurance in an amount which equals 100 per cent. of the Loansuch amounts, on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 1 contract

Sources: Facility Agreement (Globus Maritime LTD)

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s 's interest marine insurance, insurance and a mortgagee's interest additional perils insurance in an amount which equals such amounts (but not exceeding 110 per cent. of the Loan, and a mortgagee’s interest additional perils insurance, in an amount which equals 100 per cent. of the Loan), on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 1 contract

Sources: Term Loan Facility (Ardmore Shipping Corp)

Mortgagee’s interest and additional perils insurances. The Security Agent shall be entitled from time to time to effect, maintain and renew a mortgagee’s interest marine insurance, insurance and a mortgagee’s interest additional perils insurance in an amount which equals such amounts (but not exceeding 110 per cent. of the Loan, and a mortgagee’s interest additional perils insurance, in an amount which equals 100 per cent. of the Loan), on such terms, through such insurers and generally in such manner as the Security Agent acting on the instructions of the Majority Lenders may reasonably from time to time consider appropriate.

Appears in 1 contract

Sources: Term Loan Facility (Ardmore Shipping Corp)