Common use of Default indemnity Clause in Contracts

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. The Borrower shall on demand indemnify the Paying Agent, the Lower Saxony Guarantee Agent Security Agent, the Arrangers and the Lenders, without prejudice to any of their other rights under this Agreement, Agreement and the other Security Documents and the Lower Saxony GuaranteesDocuments, against any loss or expense which the Paying Agent, the Lower Saxony Guarantee Agent Security Agent, the Arrangers 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, Agreement or any of the other Security Documents or the Lower Saxony Guarantees when due, including, without limitation, any liability incurred by the Paying Agent, the Lower Saxony Guarantee Agent Security Agent, the Arrangers 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 or Possible Event of Default; 12.3.3 any prepayment of the Facility Loan or any part thereof being made at any time for any reason; and/or 12.3.4 a Drawing the Loan not being drawn for any reason (excluding any default by the Paying 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 the Loan or in liquidating or re-employing deposits from third parties acquired to effect or maintain the Drawing Loan and also any loss or expense (including without limitation warehousing and other related costs) incurred in connection with any Master Agreementinterest rate swap agreements or other financial instruments entered into for the purposes 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 or Possible 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.