Common use of Creditors’ indemnity Clause in Contracts

Creditors’ indemnity. Each Creditor shall (in the proportion that the Liabilities due to it bears to the aggregate of the Liabilities due to all the Secured Parties for the time being (or, if the Liabilities due to each of those Secured Parties is zero, immediately prior to their being reduced to zero)), indemnify the Security Agent and every Receiver and every Delegate, within three Business Days of demand, against any cost reasonably incurred including legal fees and VAT thereon or any loss or liability incurred by any of them (otherwise than by reason of the relevant Security Agent’s, Receiver’s or Delegate’s gross negligence or wilful misconduct) in acting as Security Agent, Receiver or Delegate under the Debt Documents or Intra-Group Debt Documents (unless the relevant Security Agent, Receiver or Delegate has been reimbursed by a Debtor or a Security Provider pursuant to a Debt Document or a Intra-Group Debt Document) and the Debtors shall jointly and severally indemnify each Creditor against any payment made by it under this Clause 16.

Creditors’ indemnity. Each Creditor shall (in the proportion that the Liabilities due to it bears to the aggregate of the Liabilities due to all the Secured Parties for the time being (or, if the Liabilities due to each of those Secured Parties is zero, immediately prior to their being reduced to zero)), indemnify the Security Agent and every Receiver and every Delegate, within three Business Days of demand, against any cost reasonably incurred including legal fees and VAT thereon or any loss or liability incurred by any of them (otherwise than by reason of the relevant Security Agent’s, Receiver’s or Delegate’s gross negligence or wilful misconduct) in acting as Security Agent, Receiver or Delegate under the Debt Documents or Intra-Group Debt Documents (unless the relevant Security Agent, Receiver or Delegate has been reimbursed by a Debtor or a Security Provider pursuant to a Debt Document or a Intra-Group Debt Document) and the Debtors shall jointly and severally indemnify each Creditor against any payment made by it under this Clause 1615.

Creditors’ indemnity. (A) Each Creditor shall (in the proportion that the Liabilities due to it bears to the aggregate of the Liabilities due to all the Secured Parties Creditors for the time being (or, if the Liabilities due to each of those Secured Parties Creditors is zero, immediately prior to their being reduced to zero)), indemnify the Security Agent and every Receiver and every Delegate, within three Business Days of demand, against any cost reasonably incurred including legal fees and VAT thereon or any cost, loss or liability incurred by any of them (otherwise than by reason of the relevant Security Agent’s, Receiver’s or Delegate’s gross negligence or wilful misconductmisconduct and in the case of the Security Agent under the Onshore Security Assignment as a result of its breach of trust or the duty of care and diligence required of it as trustee under this Agreement) in acting as Security Agent, Receiver or Delegate under the Debt Documents or Intra-Group Debt Finance Documents (unless the relevant Security Agent, Receiver or Delegate has been reimbursed by a Debtor or a Security Provider an Obligor pursuant to a Debt Document or a Intra-Group Debt Finance Document) and the Debtors Obligors shall jointly and severally indemnify each Creditor against any payment made by it under this Clause 1615.

Creditors’ indemnity. (a) Each Creditor shall (in the proportion that the Liabilities due to it bears to the aggregate of the Liabilities due to all the Secured Parties Creditors for the time being (or, if the Liabilities due to each of those Secured Parties Creditors is zero, immediately prior to their being reduced to zero)), indemnify the Security Agent Trustee and every Receiver and every Delegate, within three Business Days of demand, against any cost reasonably incurred including legal fees and VAT thereon or any cost, loss or liability incurred by any of them (otherwise than by reason of the relevant Security AgentTrustee’s, Receiver’s or Delegate’s gross negligence or wilful misconductmisconduct and in the case of the Security Trustee under the Onshore Security Assignment as a result of its breach of trust or the duty of care and diligence required of it as trustee under this Agreement) in acting as Security AgentTrustee, Receiver or Delegate under the Debt Documents or Intra-Group Debt Finance Documents (unless the relevant Security AgentTrustee, Receiver or Delegate has been reimbursed by a Debtor or a Security Provider an Obligor pursuant to a Debt Document or a Intra-Group Debt Finance Document) and the Debtors Obligors shall jointly and severally indemnify each Creditor against any payment made by it under this Clause 16.