Indemnification for Servicing Sample Clauses
The Indemnification for Servicing clause requires one party, typically the service provider, to compensate the other party for losses, damages, or liabilities arising from the servicing activities performed under the agreement. This clause generally applies to claims resulting from negligence, misconduct, or failure to perform servicing duties as agreed, and may cover legal fees or third-party claims. Its core function is to allocate risk by ensuring that the party responsible for servicing bears the financial consequences of their actions, thereby protecting the other party from potential harm related to the servicing process.
Indemnification for Servicing. The Servicer will indemnify each Titling Company, each Holding Company, the Administrative Agent, the Collateral Agent, the Lender, the Issuer, the Owner Trustee, the Indenture Trustee, the 20__-__ Exchange Noteholder and their officers, directors, employees and agents (each, an "Indemnified Person") for all fees, expenses, losses, damages and liabilities resulting from the Servicer's (including in its capacity as Custodian) willful misconduct, bad faith or negligence in performing its obligations under the Transaction Documents (including the fees and expenses of defending themselves against any loss, damage or liability and any fees and expenses incurred in connection with any proceedings brought by the Indemnified Person to enforce the Servicer's indemnification obligations).
Indemnification for Servicing. The Servicer will indemnify each Titling Company, the Holders of the Collateral Specified Interest Certificates, the Administrative Agent, the Collateral Agent, the Lender, the Issuer, the Owner Trustee, the Indenture Trustee, the 20 - Exchange Noteholder and their officers, directors, employees and agents (each, an “Indemnified Person”) for all fees, expenses, losses, damages and liabilities resulting from the Servicer’s (including in its capacity as Custodian) willful misconduct, bad faith or negligence in performing its obligations under the Transaction Documents (including the fees and expenses of defending themselves against any loss, damage or liability and any fees and expenses incurred in connection with any proceedings brought by the Indemnified Person to enforce the Servicer’s indemnification obligations).