Common use of Circumstances Giving Rise to Indemnity Clause in Contracts

Circumstances Giving Rise to Indemnity. If (i) any Lender, Issuing Bank or any Agent receives any payment or payments on account of any obligation or liability of Borrower hereunder in any Other Currency, and (ii) the amount of the Agreed Currency which the relevant Lender, Issuing Bank or Agent, as applicable, receives from the proceeds of such payment or payments in accordance with its normal procedures and after deducting any premiums and costs of exchange is less than the amount of the Agreed Currency due in respect of such obligation or liability, then Borrower on demand shall, and Xxxxxxxx hereby agrees to, indemnify and save the Lenders, Issuing Banks and the Agents harmless from and against any loss, cost or expense arising out of or in connection with such deficiency.

Circumstances Giving Rise to Indemnity. If (i) any Lender, Issuing Bank or any Agent receives any payment or payments on account of any obligation or liability of Borrower hereunder in any Other Currency, and (ii) the amount of the Agreed Currency which the relevant Lender, Issuing Bank or Agent, as applicable, receives from the proceeds of such payment or payments in accordance with its normal procedures and after deducting any premiums and costs of exchange is less than the amount of the Agreed Currency due in respect of such obligation or liability, then Borrower on demand shall, and Xxxxxxxx Borrower hereby agrees to, indemnify and save the Lenders, Issuing Banks and the Agents harmless from and against any loss, cost or expense arising out of or in connection with such deficiency.