Common use of Exemption and Indemnification Clause in Contracts

Exemption and Indemnification. 4.1 The Parties acknowledge that in no circumstance shall Party A be required to be liable to or make any economic or other compensations to other parties or any third party for the Trustee’s exercise of the Authorized Rights hereunder. 4.2 Party B agrees to indemnify and hold Party A and the Trustee harmless for and against any and all losses that they have suffered or may suffer due to their exercise of the Authorized Rights hereunder, including but not limited to any losses resulting from any lawsuit, demand, arbitration or claim initiated by any third party against them and administrative investigation or penalty imposed upon them by government authorities, except for any such losses caused by willful misconduct or gross negligence of Party A and/or the Trustee, which shall not be indemnified.