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Common use of Obligations Supplemental Clause in Contracts

Obligations Supplemental. The obligations of the Receiver to provide indemnification under this Article VIII are to supplement any amount payable by any Primary Indemnitor to the Indemnitee indemnified under this Article VIII. Consistent with that intent, the Receiver will only make payments pursuant to this Article VIII to the extent not payable by a Primary Indemnitor. If the aggregated payments by the Receiver and all Primary Indemnitors with respect to any Claim subject to the Receiver’s indemnification obligations under this Article VIII exceed the amount payable with respect to such Claim, the Bridge Bank must notify the Receiver and reimburse the Receiver any amounts paid by the Receiver that exceed the amount payable.

Appears in 3 contracts

Samples: Transfer Agreement, Transfer Agreement, Transfer Agreement