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Common use of Indemnity from Trust Property Clause in Contracts

Indemnity from Trust Property. 34.22.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Agent and each Affiliate of the Agent and each officer or employee of the Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 The rights conferred by this clause 34.22 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Documents entitling the 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. Nothing contained in this clause 34.22 shall entitle the Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 3 contracts

Samples: Supplemental Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.)

Indemnity from Trust Property. 34.22.1 22.26.1 In respect of all liabilities, costs or expenses for which the Obligors are each Borrower is liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor a Security Party of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 22.26.2 The rights conferred by this clause 34.22 22.26 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. Nothing contained in this clause 34.22 22.26 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: On Delivery Facility Agreement (Paragon Shipping Inc.), On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

Indemnity from Trust Property. 34.22.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the The Security Agent and each Affiliate of every employee, officer, trustee or co-trustee or other person appointed by it in connection with its appointment under the Agent and each officer or employee of the Agent or its Affiliate Security Documents (each a Relevant Person"PROTECTED PARTY") shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Personany Protected Party: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Security Documents; (b) as a result of any breach by an Obligor a member of the Group of any of its obligations under any Finance Security Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person Protected Party which would not have arisen if the Finance Security Documents had not been executed; andand 95 - 94 - (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Security Documents. 34.22.2 . The rights conferred by this clause 34.22 20.3 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Security Documents entitling the Security Agent or any other person to an indemnity in respect of, and/or reimbursement of, any liabilities, costs damages, costs, claims, charges or expenses incurred or suffered by it in connection with any of the Finance Security Documents or the performance of any duties under any of the Finance Security Documents. Nothing contained in this clause 34.22 20.3 shall entitle the Agent or any other person Protected Party to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s 's own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Facilities Agreement (Texas Utilities Co /Tx/), Facilities Agreement (Tu Acquisitions PLC)

Indemnity from Trust Property. 34.22.1 30.26.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 30.26.2 The rights conferred by this clause 34.22 30.26 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. Nothing contained in this clause 34.22 30.26 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Facility Agreement (Teekay Tankers Ltd.), Facility Agreement (Teekay Tankers Ltd.)

Indemnity from Trust Property. 34.22.1 (a) In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (ai) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (bii) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (ciii) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (div) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 (b) The rights conferred by this clause 34.22 34.23 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. Nothing contained in this clause 34.22 34.23 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Loan Agreement (Navigator Holdings Ltd.)

Indemnity from Trust Property. 34.22.1 In respect of all liabilities, costs costs, claims, charges or expenses for which the Obligors are Borrower is liable under this Agreement, the Agent Security Trustee and each Affiliate of every employee, officer, agent or other person appointed by it in connection with its appointment under the Agent and each officer or employee of the Agent or its Affiliate Security Documents (each a Relevant Personan “Indemnified Party”) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Personan Indemnified Party: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Security Documents; (b) as a result of any breach by an Obligor a member of the Charging Group of any of its obligations under any Finance Security Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person an Indemnified Party which would not have arisen if the Finance Security Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Security Documents. 34.22.2 . The rights conferred by this clause 34.22 17.20 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Security Documents entitling the Agent Security Trustee or any other person to an indemnity in respect of, and/or reimbursement of, any liabilities, costs damages, costs, claims, charges or expenses incurred or suffered by it in connection with any of the Finance Security Documents or the performance of any duties under any of the Finance Security Documents. Nothing contained in this clause 34.22 17.20 shall entitle the Agent Security Trustee or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facilities Agreement (Avecia Group PLC)

Indemnity from Trust Property. 34.22.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the The Security Agent and each Affiliate of every employee, officer, trustee or co-trustee or other person appointed by it in connection with its appointment under the Agent and each officer or employee of the Agent or its Affiliate Security Documents (each a Relevant Person"Protected Party") shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Personany Protected Party: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Security Documents; (b) as a result of any breach by an Obligor a member of the Group of any of its obligations under any Finance Security Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person Protected Party which would not have arisen if the Finance Security Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Security Documents. 34.22.2 . The rights conferred by this clause 34.22 20.3 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Security Documents entitling the Security Agent or any other person to an indemnity in respect of, and/or reimbursement of, any liabilities, costs damages, costs, claims, charges or expenses incurred or suffered by it in connection with any of the Finance Security Documents or the performance of any duties under any of the Finance Security Documents. Nothing contained in this clause 34.22 20.3 shall entitle the Agent or any other person Protected Party to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s 's own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facilities Agreement (Texas Utilities Electric Co)

Indemnity from Trust Property. 34.22.1 (a) In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (ai) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (bii) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (ciii) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (div) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 (b) The rights conferred by this clause 34.22 34.25 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. Nothing contained in this clause 34.22 34.25 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s 's own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Indemnity from Trust Property. 34.22.1 34.28.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 34.28.2 The rights conferred by this clause 34.22 34.28 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. Nothing contained in this clause 34.22 34.28 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s 's own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facility Agreement (DryShips Inc.)

Indemnity from Trust Property. 34.22.1 30.6.1 In respect of all liabilities, costs costs, claims, charges or expenses for which the Obligors Borrowers are liable under this Agreement, the Agent Security Trustee and each Affiliate of every employee, officer, agent or other person appointed by it in connection with its appointment under the Agent and each officer or employee of the Agent or its Affiliate Transaction Security Documents (each a Relevant Personan “Indemnified Party”) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Personan Indemnified Party: (aA) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Transaction Security Documents; (bB) as a result of any breach by an Obligor any member of the Group of any of its obligations under any Finance Transaction Security Document; (cC) in respect of any Environmental Claim made or asserted against a Relevant Person an Indemnified Party which would not have arisen if the Finance Transaction Security Documents had not been executed; and (dD) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Transaction Security Documents.; 34.22.2 30.6.2 The rights conferred by this clause 34.22 Clause 30.6 (Indemnity from Trust Property) are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Transaction Security Documents entitling the Agent Security Trustee or any other person to an any indemnity in respect of, and/or reimbursement of, any liabilities, costs damages, costs, claims, charges or expenses incurred or suffered by it in connection with any of the Finance Transaction Security Documents or the performance of any duties under any of the Finance Transaction Security Documents. Nothing contained in this clause 34.22 Clause 30.6 (Indemnity from Trust Property) shall entitle the Agent Security Trustee or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct. 30.6.3 Any third party referred to in this Clause 30.6 (Indemnity from Trust Property) as an Indemnified Party may enjoy the benefit and enforce the terms of this Clause 30.6 (Indemnity from Trust Property) in accordance with the provisions of the Third Parties Act.

Appears in 1 contract

Samples: Senior Facilities Agreement (Equinix Inc)

Indemnity from Trust Property. 34.22.1 (a) In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Agent Finance Parties, K-sure and each Affiliate of the Agent Finance Parties and each officer or employee of the Agent Finance Parties or its Affiliate their Affiliates (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (ai) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (bii) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (ciii) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (div) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 (b) The rights conferred by this clause 34.22 Clause 32.27 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. Nothing contained in this clause 34.22 Clause 32.27 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s 's own gross negligence or wilful willful misconduct.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Indemnity from Trust Property. 34.22.1 35.25.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 35.25.2 The rights conferred by this clause 34.22 35.25 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. Nothing contained in this clause 34.22 35.25 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Indemnity from Trust Property. 34.22.1 34.28.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of the Security Agent and each officer or employee of the Security Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 34.28.2 The rights conferred by this clause 34.22 34.28 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. Nothing contained in this clause 34.22 34.28 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facility Agreement (Quintana Shipping Ltd.)

Indemnity from Trust Property. 34.22.1 35.22.1 In respect of all liabilities, costs or expenses for which the Obligors are liable under this Agreement, the Agent and each Affiliate of the Agent and each officer or employee of the Agent or its Affiliate (each a Relevant Person) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Person: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance Documents; (b) as a result of any breach by an Obligor of any of its obligations under any Finance Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person which would not have arisen if the Finance Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance Documents. 34.22.2 35.22.2 The rights conferred by this clause 34.22 35.22 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance Documents entitling the 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. Nothing contained in this clause 34.22 35.22 shall entitle the Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Loan Facility Agreement (Navigator Holdings Ltd.)

Indemnity from Trust Property. 34.22.1 27.27.1 In respect of all liabilities, costs costs, claims, charges or expenses for which the Obligors are liable under this Agreement, the Security Agent and each Affiliate of every employee, officer, agent or other person appointed by it in connection with its appointment under the Agent and each officer or employee of the Agent or its Affiliate Transaction Security Documents (each a Relevant Personan “Indemnified Party”) shall be entitled to be indemnified out of the Trust Property in respect of all liabilities, damages, costs, claims, charges or expenses whatsoever properly incurred or suffered by such Relevant Personan Indemnified Party: (a) in the execution or exercise or bona fide purported execution or exercise of the trusts, rights, powers, authorities, discretions and duties created or conferred by or pursuant to the Finance relevant Transaction Security Documents; (b) as a result of any breach by an Obligor a member of the Group of any of its obligations under any Finance relevant Transaction Security Document; (c) in respect of any Environmental Claim made or asserted against a Relevant Person an Indemnified Party which would not have arisen if the Finance relevant Transaction Security Documents had not been executed; and (d) in respect of any matter or thing done or omitted in any way in accordance with the terms of the Finance Documents relating to the Trust Property or the provisions of any of the Finance relevant Transaction Security Documents. 34.22.2 27.27.2 The rights conferred by this clause 34.22 27.27 are without prejudice to any right to indemnity by law given to trustees generally and to any provision of the Finance relevant Transaction Security Documents entitling the Security Agent or any other person to an indemnity in respect of, and/or reimbursement of, any liabilities, costs damages, costs, claims, charges or expenses incurred or suffered by it in connection with any of the Finance Transaction Security Documents or the performance of any duties under any of the Finance Transaction Security Documents. Nothing contained in this clause 34.22 27.27 shall entitle the Security Agent or any other person to be indemnified in respect of any liabilities, damages, costs, claims, charges or expenses to the extent that the same arise from such person’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facilities Agreement (International Shipping Enterprises, Inc.)