Common use of Indemnification of Holders Clause in Contracts

Indemnification of Holders. In case any Holder or former Holder of the Trust shall be held to be personally liable solely by reason of his being or having been a Holder of the Trust or any Portfolio and not because of his acts or omissions or for some other reason, the Holder or former Holder (or his heirs, executors, administrators, or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the assets belonging to the applicable Portfolio, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on behalf of the affected Portfolio, shall, upon request by the Holder, assume the defense of any claim made against the Holder for any act or obligation of that Portfolio.