Common use of Circumstances Giving Rise to Indemnity Clause in Contracts

Circumstances Giving Rise to Indemnity. To the fullest extent permitted by applicable law, if (i) any Lender Party receives any payment or payments on account of the liability of Guarantor hereunder pursuant to any judgment or order in any Other Currency, and (ii) the amount of the Agreed Currency which the relevant Lender Party is able to purchase on the Business Day next following such receipt with 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 liability immediately prior to such judgment or order, then Guarantor on demand shall, and Guarantor hereby agrees to, indemnify the Lender Parties from and against any loss, cost or expense arising out of or in connection with such deficiency.

Circumstances Giving Rise to Indemnity. To the fullest extent permitted by applicable law, if (i) any Lender Party receives any payment or payments on account of the liability of the Guarantor hereunder pursuant to any judgment or order in any Other Currency, and (ii) the amount of the Agreed Currency which the relevant Lender Party is able to purchase on the Business Day next following such receipt with 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 liability immediately prior to such judgment or order, then the Guarantor on demand shall, and the Guarantor hereby agrees to, indemnify the Lender Parties from and against any loss, cost or expense arising out of or in connection with such deficiency.