Communications Indemnity. It is hereby agreed in connection with communications that: (a) Express authority is hereby given by the Borrower to the Lender to accept all tested or untested communications given by facsimile, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender relating to such communications including, without limitation (if so required by the Lender), the obligation to confirm such communications by letter. (b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number mentioned in Clause 16.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication. (c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications and promises and recognises that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications. (d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct. (e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct. (f) The Lender shall have the right to ask the Borrower to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower or by any of its authorised representative(s). (g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.
Appears in 2 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender to accept all tested or untested communications given by facsimile, cable electronic mail or otherwise, regarding any or all of the notices, requests, instructions or other communications notices (as defined in Clause 16.4 (Meaning of “notice”) under this Agreement, subject to any restrictions imposed by the Lender relating to such communications notices including, without limitation (if so required by the Lender), the obligation to confirm such communications notices by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications notices as legal, valid and binding, when these notices, requests, instructions or communications notices come from the fax number or electronic mail address mentioned in Clause 16.1 (Notices) or any other fax or electronic mail address usually used by it or its managing company the Approved Manager and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications and promises and recognises that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communicationssave in case of Lxxxxx’s wilful misconduct. It is hereby undertaken by the Borrower to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications notices (as defined in Clause 16.4 (Meaning of “notice”) issued by electronic and/or mechanical processes (e.g. by facsimile), facsimile or electronic mail) the risk following are applicable:
(i) The Borrower hereby acknowledges and accepts the risks associated with the use of equipment malfunction, unsecured electronic mail communication including, without limitation, paper shortagerisk of delay, transmission errorsloss of data, omissions confidentiality breach, forgery, falsification and distortions is assumed fully and accepted malicious software. The Lender shall not be liable in any way for any loss or damage or any other disadvantage suffered by the Borrower, save in case of the Lender's gross misconductBorrower resulting from such unsecured electronic mail communication.
(ii) If the Borrower or any other Security Party wishes to cease all electronic communication, it shall give written notice to the Lender accordingly after receipt of which notice the Parties shall cease all electronic communication.
(iii) For as long as electronic communication is an accepted form of communication, the Parties shall:
a) notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and
b) notify each other of any change to their respective addresses or any other such information supplied to them; and
(e) in case electronic communication is sent to recipients with the domain < pxxxxxxxxxxx.xxx>, the parties shall without undue delay inform each other if there are changes to the said domain or if electronic communication shall thereafter be sent to individual electronic mail addresses.
(f) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications notices (as defined in Clause 16.4 (Meaning of “notice”) being given as mentioned above, are for the Borrower and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's gross Lxxxxx’s wilful misconduct.
(fg) The Lender shall have the right to ask the Borrower to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower or by any of its authorised representative(s).
(gh) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc.), as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.electronic mail(s)
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, facsimile cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.;
(b) The the Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 14.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.company;
(c) The the Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.;
(d) With with regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct.;
(e) The the risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct.Clause;
(f) The Lender the Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its their authorised representative(s).; and
(g) It it is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list it from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by each of the Borrower Borrowers to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwiseby email, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 15.1 or any other fax telex usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower Each of the Borrowers hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimilefacsimile or telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by each of the BorrowerBorrowers, save in case of the Lender's Bank’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross misconduct., save for the Bank’s gross negligence and wilful misconduct
(f) The Lender Bank shall have the right to ask each of the Borrower Borrowers to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers (or either of them) for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower Borrowers (or either of them) for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower Borrowers (or the relevant Borrower) or by any of their/its authorised representative(s).
(g) It is undertaken by each of the Borrower to use its best endeavours Borrowers to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word world list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower Each of the Borrowers shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower Borrowers (or either of them) to comply with the obligations under this ClauseClause and/or this Agreement.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender to accept all tested or untested communications given by facsimile, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender relating to such communications including, without limitation (if so required by the Lender), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number mentioned in Clause 16.1 (Notices) or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications and promises and recognises that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications.. 63 (J18-185622/C)
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross Bank’s wilful misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross wilful misconduct.
(f) The Lender shall have the right to ask the Borrower to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(aA) Express express authority is hereby given by the Borrower Borrowers to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.;
(bB) The Borrower each of the Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 13.9 or any other fax telex usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.company;
(cC) The Borrower each of the Borrowers hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.;
(dD) With with regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct.Borrowers;
(eE) The the risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct.Clause;
(fF) The Lender the Bank shall have the right to ask the Borrower Borrowers to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower Borrowers for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower Borrowers or by any of its their authorised representative(s).; and
(gG) It it is undertaken by the Borrower to use its best endeavours Borrowers to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list it from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower Borrowers shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower Borrowers to comply with the obligations under this Clause.Clause and/or this Agreement
Appears in 1 contract
Samples: Loan Agreement (Euroseas Ltd.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 15.1 or any other telex or fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the LenderBank's gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the LenderBank's gross misconduct.
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.
Appears in 1 contract
Samples: Loan Agreement (Top Ships Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 15.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex, but not by email), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Bank’s wilful misconduct and/or gross misconductnegligence.
(e) The risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross Bank’s wilful misconduct.
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) (but not email) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word world list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender to accept all tested or untested communications given by facsimile, cable or electronic mail or otherwise, regarding any or all of the noticesnotices (as defined in Clause 16.8 (Meaning of “notice”), requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender relating to such communications including, without limitation (if so required by the Lender), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number or electronic address mentioned in Clause 16.1 (Notices) or any other fax or electronic address usually used by it or its managing company the Approved Manager and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.
(c) The Borrower hereby assumes assume full responsibility for the execution of the said notices, requests, instructions or communications and promises promise and recognises recognise that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimilefacsimile or electronic mail), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Xxxxxx’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's gross Xxxxxx’s wilful misconduct.
(f) The Lender shall have the right to ask the Borrower to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause 10.11.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 15.1 or any other telex or fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Bank’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross misconduct.
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender to accept all tested or untested communications given by facsimile, cable or electronic mail or otherwise, regarding any or all of the noticesnotices (as defined in Clause 16.8 (Meaning of “notice”), requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender relating to such communications including, without limitation (if so required by the Lender), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number or electronic address mentioned in Clause 16.1 (Notices) or any other fax or electronic address usually used by it or its managing company the Approved Manager and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications and promises and recognises that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimilefacsimile or electronic mail), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Xxxxxx’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's gross Xxxxxx’s wilful misconduct.
(f) The Lender shall have the right to ask the Borrower to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause 10.11.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower Borrowers to the Lender to accept all tested or untested communications given by facsimile, cable or electronic mail or otherwise, regarding any or all of the noticesnotices (as defined in Clause 16.4 (Meaning of “notice”), requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender relating to such communications including, without limitation (if so required by the Lender), the obligation to confirm such communications by letter.
(b) The Borrower Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number or electronic address mentioned in Clause 16.1 17.1 (Notices) or any other fax or electronic address usually used by it or its managing company the Approved Commercial Manager and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.
(c) The Borrower Borrowers hereby assumes assume full responsibility for the execution of the said notices, requests, instructions or communications and promises promise and recognises recognise that the Lender shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender may suffer, incur or sustain by reason of the Lender following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimilefacsimile or electronic mail), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the BorrowerBorrowers, save in case of the Lender's Xxxxxx’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers and the Lender will be indemnified in full pursuant to this Clause save in case of the Lender's Xxxxxx’s gross misconduct.
(f) The Lender shall have the right to ask the Borrower Borrowers to furnish any information the Lender may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender to do so. The Lender shall be fully protected in, and the Lender shall incur no liability to the Borrower Borrowers for acting upon the said notices, requests, instructions or communications which were believed by the Lender in good faith to have been given by the Borrower Borrowers or by any of its authorised representative(s).
(g) It is undertaken by the Borrower Borrowers to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower Borrowers shall hold the Lender harmless and indemnified from all claims, losses, damages and expenses which the Lender may incur by reason of the failure of the Borrower Borrowers to comply with the obligations under this ClauseClause 10.10.
Appears in 1 contract
Samples: Loan Agreement (Imperial Petroleum Inc./Marshall Islands)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, facsimile cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.;
(b) The the Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 14.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.company;
(c) The the Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.;
(d) With with regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct.;
(e) The the risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct.Clause;
(f) The Lender the Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).; and
(g) It it is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list it from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express express authority is hereby given by the Borrower Borrowers to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, cable facsimile or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.;
(b) The Borrower each of the Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 15.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.company;
(c) The Borrower each of the Borrowers hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It ; it is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.;
(d) With with regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, errors and omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct.Borrowers;
(e) The the risks of misunderstandings and errors resulting from in notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers, and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct.Clause;
(f) The Lender the Bank shall have the right to ask the Borrower Borrowers to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower Borrowers for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower Borrowers or by any of its their authorised representative(s).;
(g) It it is undertaken by the Borrower to use its best endeavours Borrowers to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower ; the Borrowers shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower Borrowers to comply with the obligations under this ClauseClause and/or this Agreement;
(h) the Bank may at any time, without disclosing to the Borrowers the reason (and such discretion of the Bank is expressly admitted by the Borrowers hereby) refuse to execute the notices, requests, instructions or communications of the Borrowers or any part thereof given by fax without incurring any responsibility for loss, liability or expense arising out of such refusal, unless the original of any such notice, request, instruction or communication has also been delivered to the Bank.
Appears in 1 contract
Samples: Loan Agreement (Costamare Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower Borrowers to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, cable facsimile or otherwiseotherwise (but not e-mail), regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number mentioned in Clause 16.1 15.1 or any other fax usually used by it them or its their managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower Borrowers hereby assumes assume full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises promise and recognises recognise that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile) (but not e-mail), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the BorrowerBorrowers, save in case of the Lender's Bank’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross misconduct.
(f) The Lender Bank shall have the right to ask the Borrower Borrowers to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower Borrowers for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower Borrowers or by any of its their authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours Borrowers to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower Borrowers shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower Borrowers to comply with the obligations under this Clause.
(h) The Borrowers hereby expressly give their consent to the communication for process in the meaning of law 2472/97 of their personal data contained in this Agreement, the Security Documents or any of them, the Earnings Account or any accounts in its name kept with the Bank at any relevant time. Such personal data may be communicated to an inter-banking database record and may be used only by banks and financial institutions for the purposes of credit protection and transactions improvement. The Borrowers are authorised to revoke their consent given hereunder at any relevant time by written notice to the registrar of “Teiresias A.E.” at 0, Xxxxxxxx Xxxxxx, 00000 Xxxxxxxx, Xxxxxx, Xxxxxx.
Appears in 1 contract
Samples: Loan Agreement (FreeSeas Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower Borrowers to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement and the Master Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower Each of the Borrowers shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 15.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationManaging Companies.
(c) The Borrower Each of the Borrowers hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower Borrowers to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconductBorrowers.
(e) The risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower Borrowers and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconductClause.
(f) The Lender Bank shall have the right to ask the Borrower Borrowers to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower Borrowers for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower Borrowers for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower Borrowers or by any of its their authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours Borrowers to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower Borrowers shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower Borrowers to comply with the obligations under this ClauseClause and/or this Agreement and/or the Master Agreement.
(h) The Bank may at any time, without disclosing to the Borrowers the reason (and such discretion of the Bank is expressly admitted by the Borrowers hereby) refuse to execute the notices, requests, instructions or communications of the Borrowers, or any part thereof given by fax without incurring any responsibility for loss, liability or expense arising out of such refusal, unless the original of any such notice, request, instruction or communication has also been delivered to the Bank.
Appears in 1 contract
Samples: Loan Agreement (Poseidon Containers Holdings Corp.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, cable facsimile or otherwiseotherwise (but not e-mail), regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number mentioned in Clause 16.1 15.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile) (but not e-mail), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Bank’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross misconduct.
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this Clause.
(h) The Borrower hereby expressly gives its consent to the communication for process in the meaning of law 2472/97 of their personal data contained in this Agreement, the Security Documents or any of them, the Earnings Account or any accounts in its name kept with the Bank at any relevant time. Such personal data may be communicated to an inter-banking database record and may be used only by banks and financial institutions for the purposes of credit protection and transactions improvement. The Borrower is authorised to revoke its consent given hereunder at any relevant time by written notice to the registrar of “Teiresias A.E.” at 0, Xxxxxxxx Xxxxxx, 00000 Xxxxxxxx, Xxxxxx, Xxxxxx.
Appears in 1 contract
Samples: Loan Agreement (FreeSeas Inc.)
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.;
(b) The the Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 14.9 or any other fax telex usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communication.company;
(c) The the Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank or any third party may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.;
(d) With with regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's gross misconduct.;
(e) The the risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross misconduct.Clause;
(f) The Lender the Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its their authorised representative(s).; and
(g) It it is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word list it from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
Appears in 1 contract
Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, telex, cable or otherwiseby email, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the telex and fax number numbers mentioned in Clause 16.1 15.1 or any other fax telex usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, telex), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Bank’s gross misconduct.
(e) The risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's Bank’s gross misconduct., save for the Bank’s gross negligence and wilful misconduct
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as telex(es), fax(es) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word world list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
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Communications Indemnity. It is hereby agreed in connection with communications that:
(a) Express authority is hereby given by the Borrower to the Lender Bank to accept (at the sole discretion of the Bank) all tested or untested communications given by facsimile, cable facsimile or otherwise, regarding any or all of the notices, requests, instructions or other communications under this Agreement, subject to any restrictions imposed by the Lender Bank relating to such communications including, without limitation (if so required by the LenderBank), the obligation to confirm such communications by letter.
(b) The Borrower shall recognise any and all of the said notices, requests, instructions or other communications as legal, valid and binding, when these notices, requests, instructions or communications come from the fax number numbers mentioned in Clause 16.1 15.1 or any other fax usually used by it or its managing company and are duly signed or in case of emails are duly sent by the person appearing to be sending such notice, request, instruction or other communicationcompany.
(c) The Borrower hereby assumes full responsibility for the execution of the said notices, requests, instructions or communications by the Bank and promises and recognises that the Lender Bank shall not be held responsible for any loss, liability or expense that may result from such notices, requests, instructions or other communications. It is hereby undertaken by the Borrower to indemnify in full the Lender Bank from and against all actions, proceedings, damages, costs, claims, demands, expenses and any and all direct and/or indirect losses which the Lender Bank may suffer, incur or sustain by reason of the Lender Bank following such notices, requests, instructions or communications.
(d) With regard to notices, requests, instructions or communications issued by electronic and/or mechanical processes (e.g. by facsimile, but not by email), the risk of equipment malfunction, including, without limitation, paper shortage, transmission errors, omissions and distortions is assumed fully and accepted by the Borrower, save in case of the Lender's Bank’s wilful misconduct and/or gross misconductnegligence.
(e) The risks of misunderstandings and errors resulting from of notices, requests, instructions or communications being given as mentioned above, are for the Borrower and the Lender Bank will be indemnified in full pursuant to this Clause save in case of the Lender's gross Bank’s wilful misconduct.
(f) The Lender Bank shall have the right to ask the Borrower to furnish any information the Lender Bank may require to establish the authority of any person purporting to act on behalf of the Borrower for these notices, requests, instructions or communications but it is expressly agreed that there is no obligation for the Lender Bank to do so. The Lender Bank shall be fully protected in, and the Lender Bank shall incur no liability to the Borrower for acting upon the said notices, requests, instructions or communications which were believed by the Lender Bank in good faith to have been given by the Borrower or by any of its authorised representative(s).
(g) It is undertaken by the Borrower to use its best endeavours to safeguard the function and the security of the electronic and mechanical appliance(s) such as fax(es) (but not email) etc., as well as the code word list, if any, and to take adequate precautions to protect such code word world list from loss and to prevent its terms becoming known to any persons not directly concerned with its use. The Borrower shall hold the Lender Bank harmless and indemnified from all claims, losses, damages and expenses which the Lender Bank may incur by reason of the failure of the Borrower to comply with the obligations under this ClauseClause and/or this Agreement.
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