Common use of Performance by Issuer Clause in Contracts

Performance by Issuer. Notwithstanding anything in this Agreement to the contrary, the Issuer shall be under no obligation to take any action or execute, prepare or deliver any instrument or document until it shall have received assurances satisfactory to it that the Borrower or the Trustee shall pay in advance or reimburse it (at the Issuer’s option) for its reasonable expenses incurred or to be incurred in connection with the taking of such action, (including reasonable attorneys’ fees) and shall be indemnified against any possible liability arising out of the taking of such action.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement

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Performance by Issuer. Notwithstanding anything in this Agreement to the contrary, the Issuer shall be under no obligation to take any action or execute, prepare or deliver any instrument or document until it shall have received assurances satisfactory to it that the Borrower Borrowers or the Trustee shall pay in advance or reimburse it (at the Issuer’s option) for its reasonable expenses incurred or to be incurred in connection with the taking of such action, (including reasonable attorneys’ feesfee) and shall be indemnified against any possible liability arising out of the taking of such action.

Appears in 1 contract

Samples: Bond Agreement (ENERGY COMPOSITES Corp)

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