Default indemnity. The Borrower shall on demand indemnify the Agent and the Lenders, without prejudice to any of their other rights under this Agreement and the other Security Documents, against any loss or expense which the Agent shall certify as sustained or incurred by any of them as a consequence of:
11.3.1 any default in payment by the Borrower of any sum under this Agreement or any of the other Security Documents when due, including, without limitation, any liability incurred by the Trustee, the Agent, the Lenders and the Hermes Agent by reason of any delay or failure of the Borrower to pay any such sums;
11.3.2 any break in funding (including without limitation warehousing and other related costs) due to the occurrence of any Event of Default;
11.3.3 any prepayment of the Loan or part thereof being made at any time for any reason; and/or
11.3.4 a Portion or any part thereof not being drawn for any reason (excluding any default by the Agent or any Lender) after a Drawdown Notice has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred in maintaining or funding the Loan or in liquidating or re-employing deposits from third parties acquired to effect or maintain the Loan, any loss (including the cost of breaking deposits or re-employing funds (including warehousing and other related costs)) or any losses under any Interest Exchange Arrangement and/or any swap agreements or other interest rate management products entered into by the Lenders for the purpose of this transaction.
Default indemnity. The Borrower shall on demand indemnify the Agent, the Lower Saxony Guarantee Agent and the Lenders, without prejudice to any of their other rights under this Agreement, the other Security Documents and the Lower Saxony Guarantees, against any loss or expense which the Agent, the Lower Saxony Guarantee Agent or the Lenders shall certify as sustained or incurred by any of them as a consequence of:
12.3.1 any default in payment by the Borrower of any sum under this Agreement, any of the other Security Documents or the Lower Saxony Guarantees when due, including, without limitation, any liability incurred by the Agent, the Lower Saxony Guarantee Agent and the Lenders by reason of any delay or failure of the Borrower to pay any such sums;
12.3.2 any break in funding (including without limitation warehousing and other related costs) due to the occurrence of any Event of Default;
12.3.3 any prepayment of the Facility or any part thereof being made at any time for any reason; and/or
12.3.4 a Drawing not being drawn for any reason (excluding any default by the Agent or any Lender) after the relevant Drawdown Notice has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred in maintaining or funding a Drawing or in liquidating or re-employing deposits from third parties acquired to effect or maintain the Drawing and also any loss or expense (including without limitation warehousing and other related costs) incurred in connection with any Master Agreement.
Default indemnity. Borrower hereby agrees to, and shall, indemnify and hold harmless Lender against the reasonable out-of-pocket costs and expenses (including reasonable attorneys' fees and expenses) which it may sustain or incur as a consequence of any Default or Event of Default hereunder and in the enforcement of Lender's rights and remedies in connection therewith. Lender shall provide to Borrower a satisfactory statement, signed by an officer of Lender and supported, where applicable, by documentary evidence, explaining the amount of all such costs or expenses. Any amounts that Borrower must pay to Lender under this SECTION 7.5 shall bear interest at the Default Interest Rate and shall be due fifteen (15) days after demand therefor accompanied by documentation sufficient to establish the amount of Borrower's liability, and shall be added to and become a part of the Indebtedness secured by the Mortgage and other Security Documents.
Default indemnity. The Borrower shall on demand indemnify the Agent and the Lenders, without prejudice to any of their other rights under this Agreement and the other Security Documents, against any loss or expense which the Agent shall certify as sustained or incurred by any of them as a consequence of:
Default indemnity. The Borrower shall indemnify each of the Banks against any loss or expense which they may sustain or incur as a consequence of:-
(A) the occurrence of any Event of Default; or
(B) the operation of Clause 16.2 (Acceleration) including, but not limited to, any loss or expense on account of funds borrowed, contracted for or utilised to fund any amount payable hereunder.
Default indemnity. 71 12.4 Set-off...................................................................................... 71
Default indemnity. Lessee will indemnify Lessor on demand against any Loss which Lessor may sustain or incur directly or indirectly as a result of any Event of Default, including, the non-delivery of the Aircraft by reason of failure of Lessee to satisfy any conditions to that delivery Lessor will use reasonable endeavors to mitigate such Losses, but (i) Lessor shall not be obliged to consult with Lessee concerning any proposed course of action or to notify Lessee of the taking of any particular action, and (ii) this provision is without prejudice to Lessor's rights under Section 13.4.
Default indemnity. The Borrower shall promptly (but in any event within three (3) Business Days) after receiving a written demand from the Facility Agent indemnify each Finance Party against any cost, loss or liability incurred by such Finance Party as a result of:
(a) the occurrence of any Default and/or the exercise and enforcement of any of its rights under the Finance Documents;
(b) a failure by the Borrower to pay any amount due and payable under a Finance Document on its due date, or to comply with any obligation under the Finance Documents;
(c) funding, or making arrangements to fund, its participation in a Utilisation requested by the Borrower in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than if such Utilisation is not made solely as a result of such Finance Party’s gross negligence or wilful misconduct);
(d) any failure by the Borrower to make prepayment in accordance with a prepayment notice or to make cancellation in accordance with a cancellation notice; or
(e) any Environmental Claim, breach of any Environmental Law or any Environmental Incident.
Default indemnity. The Borrower shall indemnify the Bank against any loss or expenses, which the Bank sustains or incurs as a consequence of:
(a) the occurrence of any Default;
(b) any default in payment on the due date (or in the currency in which such payment is due) of the principal of the Loans or any part thereof or interest accrued thereon or any other amount payable hereunder or any repayment of a Loan other than on the Interest Payment Date relating thereto, including but not limited to any loss or expenses on account of funds borrowed, contracted for or utilised to fund any amount payable hereunder. A certificate of the Bank of the amount of any such loss or expense shall be conclusive in the absence of manifest error.
Default indemnity. If the Borrower fails to pay hereunder any sum due (of principal or interest) or to become due hereunder, the Borrower shall pay interest at the rate aforesaid on the unpaid sum from the date when such payment fell due up to the date of payment, PROVIDED that interest shall at all times be calculated and payable as simple interest and on a reducing balance basis in conformity with monetary directives issued by the Central Bank of Nigeria.
