Common use of Liability of Cash Manager Clause in Contracts

Liability of Cash Manager. (a) The Cash Manager shall indemnify each of the Mortgages Trustee, Funding and the Security Trustee on demand for any loss, liability, claim, expense or damage suffered or incurred by any of them in respect of the negligence, bad faith or wilful default of the Cash Manager in carrying out its functions as Cash Manager under this Agreement or under the other Transaction Documents or as a result of a breach by the Cash Manager of the terms and provisions of this Agreement or such other Transaction Documents to which the Cash Manager is a party (in its capacity as such) in relation to such functions.

Appears in 12 contracts

Samples: Management Agreement (Granite Mortgages 04-2 PLC), Management Agreement (Granite Mortgages 02-1 PLC), Management Agreement (Granite Mortgages 02-2 PLC)

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Liability of Cash Manager. (a) The Cash Manager shall indemnify each of the Mortgages Trustee, each Funding Beneficiary and the each Funding Security Trustee on demand for any loss, liability, claim, expense or damage suffered or incurred by any of them in respect of the negligence, bad faith or wilful default of the Cash Manager in carrying out its functions as Cash Manager under this Agreement or under the other Transaction Documents or as a result of a breach by the Cash Manager of the terms and provisions of this Agreement or such other Transaction Documents to which the Cash Manager is a party (in its capacity as such) in relation to such functions.

Appears in 4 contracts

Samples: Management Agreement (Granite Finance Funding 2 LTD), Management Agreement (Granite Finance Trustees LTD), Management Agreement (Granite Finance Funding 2 LTD)

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Liability of Cash Manager. (a) The Cash Manager shall indemnify each of the Mortgages Trustee, Funding and the Security Trustee on demand on an after-Tax basis for any loss, liability, claim, expense or damage suffered or incurred by any of them in respect of the negligence, bad faith or wilful default of the Cash Manager in carrying out its functions as Cash Manager under this Agreement or under the other Transaction Documents or as a result of a breach by the Cash Manager of the terms and provisions of this Agreement or such any other Transaction Documents to which the Cash Manager is a party (in its capacity as such) in relation to such functions.

Appears in 2 contracts

Samples: Cash Management Agreement, Cash Management Agreement

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