Common use of Indemnity; Expenses Clause in Contracts

Indemnity; Expenses. Subject to Section 10.1 of the Loan Agreement, Trustor will pay or reimburse Trustee and Beneficiary for all reasonable attorneys' fees, costs and expenses incurred by either of them in any suit, action, legal proceeding or dispute of any kind in which either of them is made a party or appears as party plaintiff or defendant, affecting the Debt, this Deed of Trust or the interest created herein, or the Trust Property, or any appeal thereof, including, but not limited to, activities related to enforcement of the remedies of Beneficiary, activities related to protection of Beneficiary's collateral, any foreclosure action or exercise of the power of sale, any condemnation action involving the Trust Property or any action to protect the security hereof, any bankruptcy or other insolvency proceeding commenced by or against the Trustor, and any such amounts paid or incurred by Trustee or Beneficiary shall be added to the Debt and shall be secured by this Deed of Trust; provided, however, that in no event shall Trustor be required to indemnify or hold harmless Beneficiary for any liabilities, losses or damages resulting from Lender's bad faith, gross negligence or willful misconduct. The agreements of this subsection shall expressly survive in perpetuity satisfaction of this Deed of Trust and repayment of the Debt, any release, reconveyance, discharge of foreclosure of this Deed of Trust, conveyance by deed in lieu of foreclosure, sale, and any subsequent transfer by Trustee's conveyance of the Trust Property.

Appears in 2 contracts

Samples: And Security Agreement (Medalist Diversified REIT, Inc.), And Security Agreement (Medalist Diversified REIT, Inc.)

AutoNDA by SimpleDocs

Indemnity; Expenses. Subject to Section 10.1 of the Loan Agreement, Trustor Borrower will pay or reimburse Trustee the Trustee, Beneficiary and Beneficiary Lender for all reasonable attorneys' fees, costs and expenses incurred by either any of them in any suit, action, legal proceeding or dispute of any kind in which either any of them is made a party or appears as party plaintiff or defendant, affecting the Debt, this Deed of Trust Security Instrument or the interest created herein, or the Trust Property, or any appeal thereof, including, but not limited to, activities related to enforcement of the remedies of BeneficiaryBeneficiary or Lender, activities related to protection of Beneficiary's ’s or Lender’s collateral, any foreclosure action or exercise of the power of sale, any condemnation action involving the Trust Property or any action to protect the security hereof, any bankruptcy or other insolvency proceeding commenced by or against the TrustorBorrower, and any such amounts paid or incurred by Trustee the Trustee, Beneficiary or Beneficiary Lender shall be added to the Debt and shall be secured by this Deed of Trust; provided, however, that in no event shall Trustor be required to indemnify or hold harmless Beneficiary for any liabilities, losses or damages resulting from Lender's bad faith, gross negligence or willful misconductSecurity Instrument. The agreements of this subsection shall expressly survive in perpetuity satisfaction of this Deed of Trust Security Instrument and repayment of the Debt, any release, reconveyance, discharge of foreclosure of this Deed of TrustSecurity Instrument, conveyance by deed in lieu of foreclosure, sale, and any subsequent transfer by Trustee's trustee’s conveyance of the Trust Property.

Appears in 1 contract

Samples: First States (American Assets Trust, Inc.)

AutoNDA by SimpleDocs

Indemnity; Expenses. Subject to Section 10.1 of the Loan Agreement, Trustor The Grantor will pay or reimburse the Trustee and the Beneficiary for all reasonable attorneys' fees, costs and expenses incurred by either of them in any suit, action, legal proceeding or dispute of any kind in which either of them is made a party or appears as party plaintiff or defendant, affecting the DebtLiabilities, this Deed of Trust or the interest created herein, or the Trust PropertyCollateral, or any appeal thereof, including, but not limited to, activities related to enforcement of the remedies of Beneficiary, activities related to protection of Beneficiary's ’s collateral, any foreclosure action or exercise of the power of sale, any condemnation action involving the Trust Property Collateral or any action to protect the security hereof, any bankruptcy or other insolvency proceeding commenced by or against the TrustorGrantor, and any such amounts paid or incurred by the Trustee or the Beneficiary shall be added to the Debt Liabilities and shall be secured by this Deed of Trust; provided, however, that in no event shall Trustor be required to indemnify or hold harmless Beneficiary for any liabilities, losses or damages resulting from Lender's bad faith, gross negligence or willful misconduct. The agreements of this subsection shall expressly survive in perpetuity satisfaction of this Deed of Trust and repayment of the DebtLiabilities, any release, reconveyance, discharge of foreclosure of this Deed of Trust, conveyance by deed in lieu of foreclosure, sale, and any subsequent transfer by Trustee's trustee’s conveyance of the Trust PropertyCollateral.

Appears in 1 contract

Samples: KBS Strategic Opportunity REIT, Inc.

Time is Money Join Law Insider Premium to draft better contracts faster.