Common use of Indemnity by Issuer Clause in Contracts

Indemnity by Issuer. Subject to clause 15, the Issuer undertakes to indemnify each Note Agent and its directors, officers, employees and controlling persons against all losses, liabilities, costs, claims, actions, damages, expenses or demands which any of them may incur or which may be made against any of them as a result of or in connection with the appointment of or the exercise of the powers and duties by the Note Agent under this Agreement except as may result from its fraud, negligence or wilful default or that of its directors, officers, employees or controlling persons or any of them, or breach by it of the terms of this Agreement and notwithstanding the resignation or removal of that Note Agent pursuant to clause 10.