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CHARTERERS' LIABILITY INSURANCE / PART VI / Clause 15
EFFECT OF TERMINATION
15.1 Termination for Failure to Pay
If the termination of insurance shall have occurred by virtue of Clause 13.1 Failure to Pay the Association shall not be liable for any claims under the Certificate of Insurance, whether the incident giving rise to such claim occurred before or after the termination of the insurance.
15.2 Termination for any Other Reason
If the termination of insurance shall have occurred by virtue of any other reason, the Association shall remain liable for all claims under the Certificate of Insurance arising by reason of any incident which occurred before the termination but shall be under no liability whatsoever by reason of any incident which occurred after the termination.
Provided always that:
15.2.1 the provisions of Clause 15.1 above shall apply to the contract of insurance even if the insurance of the Ship shall have ceased under the provisions of Clause 13.2 Failure of Individual, Clause 13.3 Failure of Corporation or Clause 14 Termination of Insurance of Ship before the notice specified in Clause 13.1 Failure to Pay shall have been issued or taken effect.
15.2.2 the Association may in its discretion admit either wholly or partly any claim for which the Association is under no liability under this Clause whether the incident giving rise to such claim occurred before or after the termination of insurance.
15.3 No Waiver of Rights
Without prejudice to the generality of Clause 18 Forbearance no act, omission, course of dealing, forbearance, delay or indulgence of any kind by or on behalf of the Association nor the granting of time, nor the acceptance by the Association (whether express or implied) of liability for, or the recognition of, any claim and whether occurring before or after the termination of insurance, shall derogate from the effect of Clause 13 Termination of All Insurances and Clause 14 Termination of Insurance of Ship or be treated as a waiver of any of the Association’s rights thereunder.