FACILITY AGENTS' RIGHT TO INDEMNITY. Except for action expressly required of a Facility Agent hereunder without instructions from any Person, each Facility Agent shall be fully justified in failing or refusing to take any action hereunder on behalf of any Lender or the Board unless it shall first be indemnified to its satisfaction by such Person (or any affiliate thereof) or the Board, as the case may be, against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
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Samples: Loan Agreement (Frontier Airlines Inc /Co/), Loan Agreement (Ata Holdings Corp)
FACILITY AGENTS' RIGHT TO INDEMNITY. Except for action expressly required of a Facility Agent hereunder without instructions from any Person, each Facility Agent shall be fully justified in failing or refusing to take any action hereunder on behalf of any Lender or the Board unless it shall first be indemnified to its satisfaction by such Person (or any affiliate thereof) or the Board, as the case may be, against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
Appears in 1 contract
Samples: Loan Agreement
FACILITY AGENTS' RIGHT TO INDEMNITY. Except for action expressly required of a Facility Agent hereunder without instructions from any Person, each Facility Agent shall be fully justified in failing or refusing to take any action hereunder on behalf of any Lender Lender, the Supplemental Guarantor or the Board unless it shall first be indemnified to its satisfaction by such Person (or any affiliate thereof) or the Board, as the case may be, against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
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