Claims Procedure Subrogation Variation in Risk Cancellation

c. The employees and agents of the insured comply with such orders and requirements.

4. Immediate notice of any event likely to give rise to a claim under this policy should be given as stated in the schedule. In all cases the insured should :

a. Furnish full particulars in writing of such event and forward immediately notice of any claim (by a third party or passenger) with any letters or documents relating thereto.

b. Give notice of any impending prosecution.

c. Render such further information and assistance as the Underwriters may reasonably require.

d. Not act in any way to the detriment or prejudice of the interest of the Underwriters.

The Insured should not make any admission of liability or payment or offer or promise of payment without the written consent of the Underwriters.

5. The Underwriters should be entitled (If they so elect) at any time and for so long as they desire to take absolute control of all negotiations and proceedings and in the name of the Insured to settle, defend or pursue any claim.

6. Upon an indemnity being given or a payment being made by the Underwriters under this policy, they should be subrogated to the rights and remedies of the Insured who should Co-Operate with and do all things necessary to assist the Underwriters to exercise such rights and remedies.

7. Should there be any change in the circumstances or nature of the risks which are the basis of this contract the insured should give immediate notice thereof to the Underwriters and no claim arising subsequent to such change should be recoverable hereunder unless such change has been accepted by the Underwriters.

8. This policy may be cancelled by either the Underwriters or the insured giving 10 days notice in writing if such cancellation. If cancelled by the Underwriters, they will return a pro rata portion of the premium in respect of the unexpired period of the policy. If cancelled by the insured a return of premium should be at the discretion of the Underwriters. There will be no assignment non Marine Insurance arbitration two or More aircraft limits of Indemnity false and fraudulent Claims return of premium in respect of any Aircraft on which a loss is paid or is payable under this policy.

9. This policy should not be assigned in whole or part except with the consent of the Underwriters verified by endorsement hereon.

10. This policy is not and the parties hereto expressly agree that it should not be construed as a policy of marine insurance.

11. This policy should be construed in accordance with Iranian law and any dispute or difference between the insured and the Underwriters should be submitted to arbitration in Iran in accordance with the statutory provision for arbitration for the time being in force.

12. When two or more Aircraft are insured hereunder the terms of this policy apply separately to each.

13. Not withstanding the inclusion herein of more than one insured whether by endorsement of otherwise the total liability of the Underwriters in respect of any or all insureds should not exceed the limit (5) of indemnity stated in this policy.

14. If the insured should make any claim knowing the same to be false or fraudulent as regards amount or otherwise this policy should become void and all claims hereunder should be forfeited.