Common use of Obligors’ indemnity Clause in Contracts

Obligors’ indemnity. Each Obligor shall promptly indemnify the Security Agent and every Receiver and Delegate against any cost, loss or liability (together with any applicable VAT) incurred by any of them: (A) in relation to or as a result of: (i) any failure by the Company to comply with obligations under clause 29 (Costs and Expenses); (ii) the taking, holding, protection or enforcement of the Transaction Security; (iii) the exercise of any of the rights, powers, discretions and remedies vested in the Security Agent, each Receiver and each Delegate by the Finance Documents or by law; or (iv) any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; or (B) which otherwise relates to any of the Secured Property or the performance of the terms of this Agreement (otherwise than as a result of its gross negligence or wilful misconduct).

Obligors’ indemnity. Each Obligor shall promptly indemnify the Security Agent and every Receiver and Delegate against any cost, loss or liability (together with any applicable VAT) incurred by any of them: (Aa) in relation to or as a result of: (i) any failure by the Company Borrower to comply with obligations under clause 29 13 (Costs and Expenses); (ii) the taking, holding, protection or enforcement of the Transaction Security; (iii) the exercise of any of the rights, powers, discretions and remedies vested in the Security Agent, each Receiver and each Delegate by the Finance Documents or by law; or (iv) any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; or (Bb) which otherwise relates to any of the Secured Charged Property or the performance of the terms of this Agreement (otherwise than as a result of its gross negligence or wilful misconduct).