Common use of TRUSTEE ENTITLED TO INDEMNITY Clause in Contracts

TRUSTEE ENTITLED TO INDEMNITY. With the exception of Section 803 hereof and the Trustee's obligations to draw under the Letter of Credit, the Trustee shall be under no obligation to institute any suit, or to take any remedial proceedings under this Agreement, the Security Agreements or under the Loan Agreement, or to enter any appearance in or in any way defend against any suit, in which it may be made a defendant, or to take any steps in the execution of the trusts hereby created or in the enforcement of any rights and powers-hereunder or under the Loan Agreement until it shall be indemnified to its satisfaction against any and all costs and expenses, outlays and counsel fees and other reasonable disbursements, and against all liability; the Trustee may, nevertheless, begin suit, or appear in and defend suit, or do anything else in its judgment proper to be done by it as such Trustee, without prior indemnity, and in such case the Authority shall reimburse and indemnify the Trustee from funds available therefor under the Loan Agreement for all liabilities, costs and expenses, outlays and counsel fees and other reasonable disbursements properly incurred in connection therewith. The Trustee shall be paid interest on any funds advanced hereunder, at rates customarily charged by the Trustee, which rates shall in no event be less than the rate set forth in Section 4.07 of the Loan Agreement. If an Event of Default occurs and is continuing, the Trustee shall not be obligated to initiate any foreclosure proceedings (or to initiate any suit) or otherwise accept or obtain possession of or title to any or all of the properties encumbered by the Mortgage whether by deed in lieu of foreclosure or otherwise or to use or operate the Project or cause any part of the Project to be used or operated directly or indirectly by the Trustee, or through agents or other representatives or to lease, license or otherwise permit or provide for the use or operation of any or all of the Project by any other person unless: (i) the Trustee shall have been able to obtain insurance in kinds, at rates and in amounts satisfactory to it in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all liability (including environmental liability) for loss or damage to the Project and for public liability and property damage resulting from use or operation of, or having legal title to, the Project or, with respect to the environmental liability insurance, the Trustee is provided with an environmental report, documentation or such other evidence acceptable to the Trustee, indicating that such environmental liability insurance is not necessary; and (ii) funds are available in any of the funds or accounts created under this Agreement to pay for all such insurance or, in lieu of such insurance, the Trustee is furnished with indemnification from the Holders or any other Person upon terms and in amounts satisfactory to the Trustee in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all such liabilities.

TRUSTEE ENTITLED TO INDEMNITY. With the exception of Section 803 hereof and the Trustee's obligations to draw under the Letter of Credithereof, the Trustee shall be under no obligation to institute any suit, or to take any remedial proceedings under this Agreement, the Security Agreements Collateral Documents or under the Loan Agreement, or to enter any appearance in or in any way defend against any suit, in which it may be made a defendant, or to take any steps in the execution of the trusts hereby created or in the enforcement of any rights and powers-powers hereunder or under the Collateral Documents or the Loan Agreement until it shall be indemnified to its satisfaction against any and all costs and expenses, outlays and counsel fees and other reasonable disbursements, and against all liability; the Trustee may, nevertheless, begin suit, or appear in and defend suit, or do anything else in its judgment proper to be done by it as such Trustee, without prior indemnity, and in such case the Authority shall reimburse and indemnify the Trustee from funds available therefor under the Collateral Documents or the Loan Agreement for all liabilities, costs and expenses, outlays and counsel fees and other reasonable disbursements properly incurred in connection therewith. The Trustee shall be paid interest on any funds advanced hereunder, at rates customarily charged by the Trustee, which rates shall in no event be less than the prime rate set forth charged by the Trustee to commercial customers. Except as otherwise provided in Section 4.07 of 803 hereof, if the Loan Agreement. If an Event of Default occurs and is continuingAuthority shall 83 89 fail to make such reimbursement or indemnification, the Trustee shall not be obligated to initiate may reimburse or indemnify itself from any foreclosure proceedings (or to initiate any suit) or otherwise accept or obtain possession of or title to any or all of the properties encumbered by the Mortgage whether by deed in lieu of foreclosure or otherwise or to use or operate the Project or cause any part of the Project to be used or operated directly or indirectly by the Trustee, or through agents or other representatives or to lease, license or otherwise permit or provide for the use or operation of any or all of the Project by any other person unless: (i) the Trustee shall have been able to obtain insurance in kinds, at rates and in amounts satisfactory to it monies in its discretion possession under the provisions of this Agreement and shall be entitled to protect the Project and the Trustee, as Trustee and individually, against any and all liability (including environmental liability) for loss or damage to the Project and for public liability and property damage resulting from use or operation of, or having legal title to, the Project or, with respect to the environmental liability insurance, the Trustee is provided with an environmental report, documentation or such other evidence acceptable to the Trustee, indicating that such environmental liability insurance is not necessary; and (ii) funds are available in a preference over any of the funds or accounts created under this Agreement to pay for all such insurance or, in lieu of such insurance, the Trustee is furnished with indemnification from the Holders or any other Person upon terms and in amounts satisfactory to the Trustee in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all such liabilitiesBonds outstanding hereunder.

TRUSTEE ENTITLED TO INDEMNITY. With the exception of Section 803 hereof and the Trustee's obligations to draw under the Letter of Credithereof, the Trustee shall be under no obligation to institute any suit, or to take any remedial proceedings under this Agreement, the Security Agreements Collateral Documents or under the Loan Agreement, or to enter any appearance in or in any way defend against any suit, in which it may be made a defendant, or to take any steps in the execution of the trusts hereby created or in the enforcement of any rights and powers-powers hereunder or under the Collateral Documents or the Loan Agreement until it shall be indemnified to its satisfaction against any and all costs and expenses, outlays and counsel fees and other reasonable disbursements, and against all liability; the Trustee may, nevertheless, begin suit, or appear in and defend suit, or do anything else in its judgment proper to be done by it as such Trustee, without prior indemnity, and in such case the Authority shall reimburse and indemnify the Trustee from funds available therefor under the Collateral Documents or the Loan Agreement for all liabilities, costs and expenses, outlays and counsel fees and other reasonable disbursements properly incurred in connection therewith. The Trustee shall be paid interest on any funds advanced hereunder, at rates customarily charged by the Trustee, which rates shall in no event be less than the prime rate set forth in Section 4.07 of the Loan Agreement. If an Event of Default occurs and is continuing, charged by the Trustee shall not be obligated to initiate any foreclosure proceedings (or to initiate any suit) or otherwise accept or obtain possession of or title to any or all of the properties encumbered by the Mortgage whether by deed in lieu of foreclosure or otherwise or to use or operate the Project or cause any part of the Project to be used or operated directly or indirectly by the Trustee, or through agents or other representatives or to lease, license or otherwise permit or provide for the use or operation of any or all of the Project by any other person unless: (i) the Trustee shall have been able to obtain insurance in kinds, at rates and in amounts satisfactory to it in its discretion to protect the Project and the Trustee, commercial customers. Except as Trustee and individually, against any and all liability (including environmental liability) for loss or damage to the Project and for public liability and property damage resulting from use or operation of, or having legal title to, the Project or, with respect to the environmental liability insurance, the Trustee is provided with an environmental report, documentation or such other evidence acceptable to the Trustee, indicating that such environmental liability insurance is not necessary; and (ii) funds are available in any of the funds or accounts created under this Agreement to pay for all such insurance or, in lieu of such insurance, the Trustee is furnished with indemnification from the Holders or any other Person upon terms and in amounts satisfactory to the Trustee in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all such liabilities.otherwise

TRUSTEE ENTITLED TO INDEMNITY. With the exception of Section 803 hereof and the Trustee's obligations to draw under the Letter of Credithereof, the Trustee shall be under no obligation to institute any suit, or to take any remedial proceedings under this Agreement, the Security Agreements Collateral Documents or under the Loan Agreement, or to enter any appearance in or in any way defend against any suit, in which it may be made a defendant, or to take any steps in the execution of the trusts hereby created or in the enforcement of any rights and powers-powers hereunder or under the Collateral Documents or the Loan Agreement until it shall be indemnified to its satisfaction against any and all costs and expenses, outlays and counsel fees and other reasonable disbursements, and against all liability; the Trustee may, nevertheless, begin suit, or appear in and defend suit, or do anything else in its judgment proper to be done by it as such Trustee, without prior indemnity, and in such case the Authority shall reimburse and indemnify the Trustee from funds available therefor under the Collateral Documents or the Loan Agreement for all liabilities, costs and expenses, outlays and counsel fees and other reasonable disbursements properly incurred in connection therewith. The Trustee shall be paid interest on any funds advanced hereunder, at rates customarily charged by the Trustee, which rates shall in no event be less than the prime rate set forth charged by the Trustee to commercial customers. Except as otherwise provided in Section 4.07 of 803 hereof, if the Loan Agreement. If an Event of Default occurs and is continuingAuthority shall fail to make such reimbursement or indemnification, the Trustee shall not be obligated to initiate any foreclosure proceedings (may reimburse or to initiate any suit) or otherwise accept or obtain possession of or title to any or all of the properties encumbered by the Mortgage whether by deed in lieu of foreclosure or otherwise or to use or operate the Project or cause any part of the Project to be used or operated directly or indirectly by the Trustee, or through agents or other representatives or to lease, license or otherwise permit or provide for the use or operation of any or all of the Project by any other person unless: (i) the Trustee shall have been able to obtain insurance in kinds, at rates and in amounts satisfactory to it in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all liability (including environmental liability) for loss or damage to the Project and for public liability and property damage resulting indemnify itself from use or operation of, or having legal title to, the Project or, with respect to the environmental liability insurance, the Trustee is provided with an environmental report, documentation or such other evidence acceptable to the Trustee, indicating that such environmental liability insurance is not necessary; and (ii) funds are available in any of the funds or accounts created under this Agreement to pay for all such insurance or, in lieu of such insurance, the Trustee is furnished with indemnification from the Holders or any other Person upon terms and in amounts satisfactory to the Trustee in its discretion to protect the Project and the Trustee, as Trustee and individually, against any and all such liabilities.any