Common use of Liability and Hold Harmless Clause in Contracts

Liability and Hold Harmless. The Annuitant or the Beneficiaries will at all times indemnify the Trustee and its nominees, agents and correspondents in respect of any and all taxes, interest, penalties, assessments, fees, costs, overdrafts, expenses, liability, claims and demands resulting from the custody or administration of the Plan and will hold them harmless from all of the foregoing, except in the case of the gross negligence or wilful omission or misconduct of the Trustee. All such payment to the Trustee must be made within 30 days from the date the Annuitant is thereby notified.

Liability and Hold Harmless. The Annuitant or the Beneficiaries beneficiaries will at all times indemnify the Trustee and its nominees, agents and correspondents in respect of any and all taxes, interest, penalties, assessments, fees, costs, overdrafts, expenses, liability, claims and demands resulting from the custody or administration of the Plan Fund and will hold them harmless from all of the foregoing, except in the case of the gross negligence or wilful omission or misconduct of the Trustee. All such payment to the Trustee must be made within 30 days from the date the Annuitant is thereby notified.