Common use of Guarantor’s Indemnity Clause in Contracts

Guarantor’s Indemnity. Subject to the prior ranking obligations set out in the Priorities of Payments, the Account Bank shall be indemnified to the extent of funds then standing to the credit of the Guarantor Accounts maintained with the Account Bank against any loss, cost, damage, charge or expense incurred by the Account Bank in complying with any instruction delivered pursuant to and in accordance with this Agreement, save that this indemnity shall not extend to (i) the charges of the Account Bank (if any) for the operation of such accounts other than as provided in this Agreement; and (ii) any loss, cost, damage, charge or expense arising from any breach by the Account Bank of its obligations under this Agreement.

Guarantor’s Indemnity. Subject to the prior ranking obligations set out in the Priorities of Payments, the Account Bank Depository Institution shall be indemnified to the extent of funds then standing to the credit of the Guarantor Accounts maintained with the Account Bank Depository Institution against any loss, cost, damage, charge or expense incurred by the Account Bank Depository Institution in complying with any instruction delivered pursuant to to, and in accordance with with, this Agreement, save that this indemnity shall not extend to (i) the charges of the Account Bank Depository Institution (if any) for the operation of such accounts other than as provided in this Agreement; and (ii) any loss, cost, damage, charge or expense arising from any breach by the Account Bank Depository Institution of its obligations under this Agreement.