Common use of Borrowers' indemnity to Fronting Banks Clause in Contracts

Borrowers' indemnity to Fronting Banks. The relevant Borrower shall irrevocably and unconditionally as a primary obligation indemnify (within three Business Days of demand of the Agent) the Fronting Bank at its request against: (a) any sum paid or due and payable by the Fronting Bank under the Letter of Credit; and (b) all liabilities, costs (including, without limitation, any costs incurred in funding any amount which falls due from the Fronting Bank under any Letter of Credit or in connection with any such Letter of Credit), claims, losses and out-of-pocket expenses which the Fronting Bank may at any time incur or sustain in connection with or arising out of any such Letter of Credit.

Borrowers' indemnity to Fronting Banks. The relevant Borrower shall irrevocably and unconditionally as a primary obligation indemnify (within three Business Days of demand of the Agent) the Fronting Bank at its request against: (ai) any sum paid or due and payable by the Fronting Bank under the Letter of Credit; and (bii) all liabilities, costs (including, without limitation, any costs incurred in funding any amount which falls due from the Fronting Bank under any Letter of Credit or in connection with any such Letter of Credit), claims, losses and out-of-pocket expenses which the Fronting Bank may at any time incur or sustain in connection with or arising out of any such Letter of Credit.