Common use of Indemnity concerning security Clause in Contracts

Indemnity concerning security. (a) The Borrower shall (or shall procure that another Obligor will) promptly indemnify, on an after-Tax basis, each Indemnified Person against any and all Losses properly incurred by it in connection with: (i) any failure by the Borrower to comply with its obligations under clause 16 (Costs and expenses) or any corresponding provisions in any other Finance Document; (ii) acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; (iii) the taking, holding, protection or enforcement of the Security Documents; (iv) the exercise or purported exercise of any of the rights, powers, discretions, authorities and remedies vested in the Security Agent and/or any other Finance Party and each Receiver by the Finance Documents or by law; (v) any breach by an Obligor or any other party of the Finance Documents; (vi) any claim (whether relating to the environment or otherwise) made or asserted against the Indemnified Person which would not have arisen but for the execution or enforcement of one or more Finance Documents (unless and to the extent it is caused by the gross negligence or wilful misconduct of that Indemnified Person); or (vii) (in the case of the Security Agent and/or any other Finance Party and any Receiver) acting as Security Agent and/or as holder of any of the Security Interests under the Security Documents or Receiver under the Finance Documents or which otherwise relates to the Charged Property. (b) The Security Agent may, in priority to any payment to the other Finance Parties, indemnify itself, on an after-Tax basis, out of the Trust Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this clause 14.4 and shall have a lien on the Security Documents and the proceeds of the enforcement of those Security Documents for all moneys payable to it.

Indemnity concerning security. (a) The Borrower shall (or shall procure that another Obligor will) promptly indemnify, on an after-Tax basis, indemnify each Indemnified Person against any and all Losses properly (together with any applicable VAT) incurred by it in connection with(otherwise than by reason of that Indemnified Person's gross negligence or wilful default) as a result of: (i) any failure by the Borrower to comply with its obligations under clause 16 17 (Costs and expenses) or any corresponding provisions similar provision in any other Finance Document; (ii) acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; (iii) the taking, holding, protection or enforcement of the Security DocumentsTransaction Security; (iv) the exercise or purported exercise of any of the rights, powers, discretions, authorities and remedies vested in the Security Agent and/or any other Finance Party in whose favour any Security Document has been granted and each Receiver Receiver, each Delegate and each Indemnified Person by the Finance Documents or by lawlaw (otherwise, in each case, than by reason of the relevant Security Agent's, Receiver's, Delegate's or Indemnified Person's gross negligence or wilful default); (v) any breach default by an any Obligor or in the performance of any other party of the obligations expressed to be assumed by it in the Finance Documents; (vi) any claim (whether relating to the environment or otherwiseotherwise (but without double counting where an Indemnified Person has recovered for the same Loss under any other provision of this Agreement)) made or asserted against the Indemnified Person which would not have arisen but for the execution or enforcement of one or more Finance Documents (unless and to the extent it is caused by the gross negligence or wilful misconduct default of that Indemnified Person); (vii) instructing lawyers, accountants, tax advisers, insurance consultants, ship managers, valuers, surveyors or other professional advisers or experts as permitted under the Finance Documents; or (viiviii) (in the case of the Security Agent and/or any other Finance Party Party, any Receiver and any ReceiverDelegate) acting as Security Agent and/or as holder of any of the Security Interests under the Security Documents Transaction Security, Receiver or Receiver Delegate under the Finance Documents or which otherwise relates to the Charged PropertyProperty (otherwise, in each case, than by reason of the relevant Security Agent's and/or other Finance Party's, Receiver's or Delegate's gross negligence or wilful default). (b) The Security Agent (and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate) may, in priority to any payment to the other Finance Parties, indemnify itself, on an after-Tax basis, itself out of the Trust Charged Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this clause 14.4 15.5 and shall have a lien on the Transaction Security Documents and the proceeds of the enforcement of those the Transaction Security Documents for all moneys payable to it. The rights conferred by this paragraph (b) are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Documents entitling the Security Agent or any other person to an indemnity in respect of, and/or reimbursement of, any liabilities, costs or expenses incurred or suffered by it in connection with any of the Finance Documents or the performance of any duties under any of the Finance Documents.

Indemnity concerning security. (a) The Borrower shall (or shall procure that another Obligor will) promptly indemnify, on an after-Tax basis, indemnify each Indemnified Person against any and all Losses properly (together with any applicable VAT) incurred by it in connection with(otherwise than by reason of that Indemnified Person’s gross negligence or wilful default) as a result of: (i) any failure by the Borrower to comply with its obligations under clause 16 17 (Costs and expenses) or any corresponding provisions similar provision in any other Finance Document; (ii) acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; (iii) the taking, holding, protection or enforcement of the Security DocumentsTransaction Security; (iv) the exercise or purported exercise of any of the rights, powers, discretions, authorities and remedies vested in the Security Agent and/or any other Finance Party Lender and each Receiver Receiver, each Delegate and each Indemnified Person by the Finance Documents or by law;law (otherwise, in each case, than by reason of the Lender’s, Receiver’s, Delegate’s or Indemnified Person’s gross negligence or wilful default); ​ ​ (v) any breach default by an any Obligor or in the performance of any other party of the obligations expressed to be assumed by it in the Finance Documents; (vi) any claim (whether relating to the environment or otherwiseotherwise (but without double counting where an Indemnified Person has recovered for the same Loss under any other provision of this Agreement)) made or asserted against the Indemnified Person which would not have arisen but for the execution or enforcement of one or more Finance Documents (unless and to the extent it is caused by the gross negligence or wilful misconduct default of that Indemnified Person); (vii) instructing lawyers, accountants, tax advisers, insurance consultants, ship managers, valuers, surveyors or other professional advisers or experts as permitted under the Finance Documents; or (viiviii) (in the case of the Security Agent and/or Lender, any other Finance Party Receiver and any ReceiverDelegate) acting as Security Agent Lender and/or as holder of any of the Security Interests under the Security Documents Transaction Security, Receiver or Receiver Delegate under the Finance Documents or which otherwise relates to the Charged Property. Property (b) The Security Agent mayotherwise, in priority to any payment to the other Finance Partieseach case, indemnify itself, on an after-Tax basis, out than by reason of the Trust Property in respect ofLender’s, and pay and retain, all sums necessary to give effect to the indemnity in this clause 14.4 and shall have a lien on the Security Documents and the proceeds of the enforcement of those Security Documents for all moneys payable to itReceiver’s or Delegate’s gross negligence or wilful default).

Indemnity concerning security. (a) The Borrower shall (or shall procure that another Obligor will) shall promptly indemnify, on an after-Tax basis, indemnify each Indemnified Person against any and all Losses properly (together with any applicable VAT) incurred by it in connection withas a result of: (i) any failure by the Borrower to comply with its obligations under clause 16 ‎17 (Costs and expenses) or any corresponding provisions similar provision in any other Finance Document; (ii) acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; (iii) the taking, holding, protection or enforcement of the Security DocumentsTransaction Security; (iv) the exercise or purported exercise of any of the rights, powers, discretions, authorities and remedies vested in the Security Agent and/or any other Finance Party and each Receiver and each Delegate by the Finance Documents or by lawlaw (otherwise, in each case, than by reason of the relevant Security Agent's, Receiver's or Delegate's gross negligence or wilful misconduct); (v) any breach default by an any Obligor or in the performance of any other party of the obligations expressed to be assumed by it in the Finance Documents; (vi) any claim (whether relating to the environment or otherwise) made or asserted against the Indemnified Person which would not have arisen but for the execution or enforcement of one or more Finance Documents (unless and to the extent it is caused by the gross negligence or wilful misconduct of that Indemnified Person); (vii) instructing lawyers, accountants, tax advisers, insurance consultants, ship managers, valuers, surveyors or other professional advisers or experts as permitted under the Finance Documents; or (viiviii) (in the case of the Security Agent and/or Agent, any other Finance Party Receiver and any ReceiverDelegate) acting as Security Agent and/or as holder of any of the Security Interests under the Security Documents Agent, Receiver or Receiver Delegate under the Finance Documents or which otherwise relates to the Charged PropertyProperty (otherwise, in each case, than by reason of the ​ ​ ​ relevant Security Agent's, Xxxxxxxx's or Delegate's gross negligence or wilful misconduct). (b) The Security Agent may, in priority to any payment to the other Finance Parties, indemnify itself, on an after-Tax basis, itself out of the Trust Charged Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this clause 14.4 15.4 and shall have a lien on the Transaction Security Documents and the proceeds of the enforcement of those the Transaction Security Documents for all moneys payable to it.