Common use of The Commission Clause in Contracts

The Commission. (1) The Commission is a party to this Agreement only for the purpose of ensuring the enforceability of the provisions of this Agreement so as to satisfy itself that such requirements of the Financial Resources Rules as are applicable to the Borrower are met and the Commission is not, and shall not be deemed to be a trustee for, or to have any obligation of any nature to the Senior Creditors or any of them. (2) Each of the Lender and the Borrower shall on demand indemnify the Commission against all claims, losses, costs, expenses and other liabilities made against or incurred by the Commission as a consequence of the Commission being a party to, or taking or omitting to take any action under this Agreement.

The Commission. (1) The Commission is a party to this Agreement only for the purpose of ensuring the enforceability of the provisions of this Agreement so as to satisfy itself that such requirements of the Financial Resources Rules as are applicable to the Borrower are met and the Commission is not, and shall not be deemed to be be, a trustee for, or to have any obligation of any nature to to, the Senior Creditors or any of them. (2) Each of the Lender and the Borrower shall on demand indemnify the Commission against all claims, losses, costs, expenses and other liabilities made against or incurred by the Commission as a consequence of the Commission being a party to, or taking or omitting to take any action under under, this Agreement.

The Commission. (1) The Commission is a party to this Agreement only for the purpose of ensuring the enforceability of the provisions of this Agreement so as to satisfy itself that such the requirements of the Financial Resources Rules as are applicable to the Borrower are met and the Commission is not, and shall not be deemed to be be, a trustee for, or to have any obligation of any nature to to, the Senior Creditors or any of them. (2) Each of the Lender and the Borrower shall on demand indemnify the Commission against all claims, losses, costs, expenses and other liabilities made against or incurred by the Commission as a consequence of the Commission being a party to, or taking or omitting to take any action under under, this Agreement.