Common use of INDEMNIFICATION OF THE SERVICE PROVIDER Clause in Contracts

INDEMNIFICATION OF THE SERVICE PROVIDER. 12.1 Notwithstanding the termination of this Agreement, the Participant shall fully indemnify and keep fully indemnified the Service Provider on demand by the Service Provider against any and all losses, actions, claims, damages, costs and charges, including legal costs and charges, expenses and liabilities incurred or suffered by the Service Provider: (a) as a result of any negligent or reckless act or omission or intentional misconduct of the Participant, its employees, affiliates or agents in connection with its performance or its breach or non-performance of this Agreement or the Rules; or (b) arising directly or indirectly as a result of the usage of SWIFT Messaging Services, provided that such losses, actions, claims, damages, costs and charges, expenses and liabilities do not result from the wilful default, gross negligence or fraud of SWIFT; or (c) arising directly or indirectly as a result of the usage of manual backup facilities. 12.2 For the purposes of this clause, the “liabilities” includes duties and obligations of every description, whether present or future, actual or contingent.

INDEMNIFICATION OF THE SERVICE PROVIDER. 12.1 Notwithstanding the termination of this Agreement, the Participant shall fully indemnify and keep fully indemnified the Service Provider on demand by the Service Provider against any and all losses, actions, claims, damages, costs and charges, including legal costs and charges, expenses and liabilities incurred or suffered by the Service Provider: (a) as a result of any negligent or reckless act or omission or intentional misconduct of the Participant, its employees, affiliates or agents in connection with its performance or its breach or non-performance of this Agreement or the Rules; or (b) arising directly or indirectly as a result of the usage of SWIFT Messaging Services, provided that such losses, actions, claims, damages, costs and charges, expenses and liabilities do not result from the wilful default, gross negligence or fraud of SWIFT; or (c) arising directly or indirectly as a result of the usage of manual backup facilities; or (d) arising directly or indirectly from any of the causes stated in Clause 11.4; or (e) arising directly or indirectly as a result of a drawdown of Collateral by the Service Provider in accordance with Rule 11.10(b) of the Rules. 12.2 For the purposes of this clause, the “liabilities” includes duties and obligations of every description, whether present or future, actual or contingent.

INDEMNIFICATION OF THE SERVICE PROVIDER. 12.1 Notwithstanding the termination of this Agreement, the Participant shall fully indemnify and keep fully indemnified the Service Provider on demand by the Service Provider against any and all losses, actions, claims, damages, costs and charges, including legal costs and charges, expenses and liabilities incurred or suffered by the Service Provider: (a) as a result of any negligent or reckless act or omission or intentional misconduct of the Participant, its employees, affiliates or agents in connection with its performance or its breach or non-performance of this Agreement or the Rules; or (b) arising directly or indirectly as a result of the usage of SWIFT Messaging Services, provided that such losses, actions, claims, damages, costs and charges, expenses and liabilities do not result from the wilful default, gross negligence or fraud of SWIFT; or (c) arising directly or indirectly as a result of the usage of manual backup facilities.; or (d) arising directly or indirectly from any of the causes stated in Clause 11.4; or (e) arising directly or indirectly as a result of a drawdown of Collateral by the Service Provider in accordance with Rule 11.10(b) of the Rules. 12.2 For the purposes of this clause, the “liabilities” includes duties and obligations of every description, whether present or future, actual or contingent.