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

Mortgagee’s interest and additional perils. The Lender shall be entitled from time to time to effect, maintain and renew a mortgagee's interest additional perils insurance in respect of each Ship, a mortgagee's political risks insurance and a mortgagee's interest marine insurance each in an amount equal to 110 per cent. of the aggregate of the Loan and the Swap Exposure from time to time and on such terms, through such insurers and generally in such manner as the Lender may from time to time consider appropriate and the Borrowers shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any insurance.

Mortgagee’s interest and additional perils. The Lender shall be entitled from time to time to effect, maintain and renew a mortgagee's interest additional perils insurance in respect of each the Ship, a mortgagee's political risks insurance and a mortgagee's interest marine insurance each in an amount equal to 110 per cent. of the aggregate of the Loan and the Swap Exposure from time to time and on such terms, through such insurers and generally in such manner as the Lender may from time to time consider appropriate and the Borrowers Borrower shall upon demand fully indemnify the Lender in respect of all premiums and other expenses which are incurred in connection with or with a view to effecting, maintaining or renewing any such insurance or dealing with, or considering, any matter arising out of any insurance.