Common use of Liabilities of the Issuer Clause in Contracts

Liabilities of the Issuer. ‌ (a) The Issuer shall indemnify each Agent (on an after tax basis) against any Liability (including, but not limited to, all properly incurred costs, legal fees, charges and expenses (together, Expenses) paid or incurred in disputing or defending any Liability, including amounts in respect of Irrecoverable VAT incurred thereon) which such Agent may incur under this Agreement except to the extent that any Liability or Expenses result from the wilful default, gross negligence or fraud of such Agent or that of its officers, directors or employees save that this indemnity shall not extend to any Tax imposed on or calculated by reference to the fees, charges, commissions or other remuneration payable to any Agent. Such indemnity will survive the termination (whether by resignation or removal of the Agents) or expiry of this Agreement. (b) If any Agent agrees to extend credit to the Issuer it will do so on its usual terms as to interest and other charges, unless other terms have been agreed. (c) The Agents shall not otherwise be liable or responsible for any Liabilities which may result from anything done or omitted to be done by it in connection with this Agreement.

Liabilities of the Issuer. ‌ (a) The Issuer shall indemnify each Agent (on an after tax basis) against any Liability (including, but not limited to, all properly incurred costs, legal fees, charges and expenses (together, Expenses) paid or incurred in disputing or defending any Liability, including amounts in respect of Irrecoverable VAT incurred thereon) which such Agent may incur under this Agreement except to the extent that any Liability or Expenses result from the wilful default, gross negligence or fraud of such Agent or that of its officers, directors or employees save that this indemnity shall not extend to any Tax imposed on or calculated by reference to the fees, charges, commissions or other remuneration payable to any Agent. Such indemnity will survive the termination (whether by resignation or removal of the Agents) or expiry of this Agreement. (b) If any Agent agrees to extend credit to the Issuer it will do so on its usual terms as to interest and other charges, unless other terms have been agreed. (c) The Agents shall not otherwise be liable or responsible for any Liabilities which may result from anything done or omitted to be done by it in connection with this Agreement.