POLICY TERMS AND CONDITIONS. The marine and war risk insurance required by this Schedule 3.20 shall have deductibles and franchises not in excess of US$1,000,000 per occurrence and be subject to annual aggregate deductibles no higher than those in effect on the Closing Date, unless otherwise approved by the Collateral Agent.
Appears in 2 contracts
Sources: Revolving Credit Agreement (International Seaways, Inc.), Credit Agreement (International Seaways, Inc.)