Common use of CONFIRMATION AND INDEMNITY Clause in Contracts

CONFIRMATION AND INDEMNITY. 9.1 Unless otherwise directed by the Note Trustee pursuant to Clause 7.2 (Acknowledgement by the Issuer Account Bank), the Issuer Account Bank in making payment from the Accounts, in accordance with this Agreement, shall be entitled to act as directed by the Issuer pursuant to Clause 4.1 (The Accounts) and to rely as to the amount of any such payment on the confirmation of the Issuer in accordance with the Bank Mandate (except that, in the case of transfer of funds by way of electronic means, such confirmation shall conclusively be deemed to be given on the verification and authorisation of such transfer by way of the normal banking practice for such transfers) and the Issuer Account Bank shall have no liability for any loss, injury or consequence suffered or incurred by the Issuer for any action taken as a consequence of relying on any such confirmation except in the case of the Issuer Account Bank's wilful default, gross negligence or fraud.

CONFIRMATION AND INDEMNITY. 9.1 Unless otherwise directed by the Note The Receivables Trustee pursuant to Clause 7.2 (Acknowledgement by the Issuer Account Bank), the Issuer Account Bank in making payment from the Trust Accounts, in accordance with this Agreement, shall be entitled to act as directed by the Issuer Receivables Trustee, or the Servicer on its behalf, pursuant to Clause 4.1 (The Trust Accounts) and to rely as to the amount of any such payment on the confirmation of the Issuer Receivables Trustee in accordance with the Bank Mandate (except that, in the case of transfer of funds by way of electronic means, such confirmation shall conclusively be deemed to be given on the verification and authorisation of such transfer by way of the normal banking practice for such transfers) and the Issuer Receivables Trustee Account Bank shall have no liability for any loss, injury or consequence suffered or incurred by the Issuer Receivables Trustee for any action taken as a consequence of relying on any such confirmation except in the case of the Issuer Receivables Trustee Account Bank's wilful default, gross negligence or fraud.