We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Additional Limits on Tenant’s Indemnification Obligations Clause in Contracts

Additional Limits on Tenant’s Indemnification Obligations. Notwithstanding the foregoing, Losses with respect to which Tenant provides indemnification under this Section 21.1 shall not include (i) any Taxes, Impositions or costs or expenses associated with contesting Taxes or Impositions, it being understood that Tenant’s liability with respect to Taxes or Impositions is governed solely by Article VI, (ii) principal, interest, default interest, fees, charges or penalties owed in connection with Indebtedness of any Landlord Party or any Landlord Indemnified Party (provided, however, that default interest on Landlord Indebtedness imposed as a result of a Landlord event of default thereunder (A) other than a default based on the failure to make a payment or payments under or with respect to such Indebtedness and (B) which arises solely and directly as a result of a Tenant Event of Default other than a failure to pay Base Rent or Additional Rent shall not be excluded from “Losses”), or (iii) Losses related to any funding or hedging arrangements entered into or obtained in connection with Landlord Indebtedness or debt or equity investments in Landlord.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Energy XXI LTD), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.), Lease Agreement (CorEnergy Infrastructure Trust, Inc.)

Additional Limits on Tenant’s Indemnification Obligations. Notwithstanding the foregoing, Losses with respect to which Tenant provides indemnification under this Section 21.1 shall not include (i) any Taxes, Impositions or costs or expenses associated with contesting Taxes or Impositions, it being understood that Tenant’s liability with respect to Taxes or Impositions is governed solely by Article VIVI , (ii) principal, interest, default interest, fees, charges or penalties owed in connection with Indebtedness of any Landlord Party or any Landlord Indemnified Party (provided( provided , howeverhowever , that default interest on Landlord Indebtedness imposed as a result of a Landlord event of default thereunder (A) other than a default based on the failure to make a payment or payments under or with respect to such Indebtedness and (B) which arises solely and directly as a result of a Tenant Event of Default other than a failure to pay Base Rent or Additional Rent shall not be excluded from “Losses”), or (iii) Losses related to any funding or hedging arrangements entered into or obtained in connection with Landlord Indebtedness or debt or equity investments in Landlord.

Appears in 1 contract

Samples: Lease Agreement (Energy XXI LTD)