Mortgages Trustee Indemnity. Subject to the Mortgages Trust Revenue Priority of Payments, the Mortgages Trustee shall indemnify the Account Bank to the extent of funds then standing to the credit of the Mortgages Trustee GIC Account against any loss, cost, damage, charge or expense incurred by the Account Bank in complying with any instruction delivered pursuant to and in accordance with this Agreement, save that this indemnity shall not extend to: (a) the charges of the Account Bank (if any) for the operation of the Mortgages Trustee GIC Account other than as provided in this Agreement; and (b) any loss, cost, damage, charge or expense arising from any breach by the Account Bank of its obligations under this Agreement.
Appears in 5 contracts
Samples: Bank Account Agreement, Bank Account Agreement (Permanent Funding (No. 2) LTD), Bank Account Agreement (Permanent Funding (No. 2) LTD)
