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CHARTERERS' LIABILITY INSURANCE / PART VI / Clause 12
ASSOCIATED COMPANIES
12.1 Extension of Cover to Associated Companies
The Managers may afford cover on terms that the benefit of the cover afforded by the Association to the Assured shall be extended to Associated Companies of that Assured. The rights and obligations as between the Association and any such Associated Company shall be such as may be agreed between the Assured and the Managers.
12.2 Conditions of Reimbursement
The liability of the Association to the Assured and to Associated Companies to whom cover is extended in accordance with Clause 12.1 above shall be limited in amount to reimbursement of claims relating to liabilities, costs or expenses incurred by one or more of the Associated Companies to the extent and amount only that the Assured:
12.2.1 would have incurred the same liabilities, costs and expenses if the same claims had been pursued against the Assured; and
12.2.2 would thereafter have been entitled to obtain reimbursement from the Association in accordance with the insurance afforded by the Association.
12.2.3 Provided always that conduct of any Associated Company which would have entitled the Association to decline to indemnify that company shall be deemed to be the conduct of the Assured.
12.3 Receipt of Reimbursement
The receipt by the Assured, or any Associated Company to whom cover has been extended in accordance with Clause 12.1 above, of any reimbursement by the Association shall be deemed to be the receipt by the Assured and all such Associated Companies jointly and shall fully discharge the Association from any further liability to the Assured and any Associated Companies in respect of the loss or damage in respect of which the claim was brought.
PROVIDED ALWAYS THAT the provisions of Part IV Clause 9 Limitation of liability shall apply to any cover given under this Clause 12 so that in circumstances where the Assured could have (in the opinion of the Association) or has limited the Assured‘s liability, then the amount to which the Assured could have (in the opinion of the Association) or has so limited the Assured‘s liability shall be the total amount recoverable from the Association.
12.4 PROVIDED ALWAYS THAT:
the provisions of Part IV Clause 9 Limitation of Liability shall apply to any cover given under this Clause 12 so that in circumstances where the Assured could have (in the opinion of the Association) or has limited the Assured’s liability, then the amount to which the Assured could have (in the opinion of the Association) or has so limited the Assured’s liability shall be the total amount recoverable from the Association.