Common use of Reliance and Indemnity Clause in Contracts

Reliance and Indemnity. The Company is relying on the representations, warranties and covenants contained herein to determine the Subscriber’s eligibility to subscribe for the Offered Shares under applicable Securities Laws, and the Subscriber agrees to indemnify the Company and its directors and officers against all losses, claims, costs, expenses, damages or liabilities which any of them may suffer or incur as a result of or arising from reliance thereon.

Reliance and Indemnity. The Company Subscriber is relying on the representations, warranties and covenants contained herein to determine in making the Subscriber’s eligibility decision to subscribe for the Offered Shares under applicable Securities Lawsand make payment of consideration therefor, and the Subscriber Company agrees to indemnify the Company Subscriber and its directors and officers against all losses, claims, costs, expenses, damages or liabilities which any of them may suffer or incur as a result of or arising from reliance thereon.