Common use of Indemnity for Breach Clause in Contracts

Indemnity for Breach. Each Company shall on demand indemnify and keep the Security Trustee indemnified on a full indemnity basis in respect of all Proceedings, demands, costs and expenses occasioned by any breach of any of its covenants or other obligations under this Debenture together with interest at the Default Rate from the date of payment by the Security Trustee until repayment whether before or after judgment and any costs, damages, expenses and other Secured Obligations incurred or sustained by the Security Trustee by reason of any such breach shall be charged on the Secured Property of such Company.