Indemnity required Sample Clauses
Indemnity required. The Bond Trustee shall not be obliged to enforce the OFCA Floating Security unless it has been indemnified and/or secured to its satisfaction against all Liabilities to which it may become liable or which it may incur by the enforcement of the OFCA Floating Security, provided that the Bond Trustee agrees that, in respect of the appointment of an Administrative Receiver pursuant to Clause 11.2 (Appointment – Administration), it is adequately indemnified and secured to its satisfaction against all Liabilities in respect of such appointment pursuant to (i) its rights against the Issuer under clause 15 (Remuneration and Indemnification of Bond Trustee) of the Bond Trust Deed, and the security it has in respect of such rights (the amounts of such indemnity forming part of the Issuer Secured Liabilities in the Issuer Deed of Charge) and (ii) its rights against the Obligors under Clause 14.2 (Indemnity) of this Agreement, and the security it has in respect of such rights (the amount of such indemnity forming part of the Borrower Secured Liabilities).
Indemnity required. The Borrower Security Trustee shall not be obliged to deliver an Acceleration Notice or to take any Enforcement Action or to take any other action or step that is ancillary (but prior) to the taking of any Enforcement Action or to take any other action or step pursuant to any Borrower Finance Document unless and until it has been indemnified and/or secured and/or prefunded to its satisfaction against all Liabilities to which it may become liable or which it may incur by giving any Acceleration Notice or taking any Enforcement Action or any other action or step pursuant to this Deed.