Common use of Exoneration, Indemnity Clause in Contracts

Exoneration, Indemnity. Neither the Bank, nor any director, officer or employee of the Bank, shall be liable to the Pledgor for any action taken or omitted to be taken by it or them hereunder in connection herewith, except for its or their own gross negligence or willful misconduct; nor shall the Bank be responsible for the validity, effectiveness or sufficiency hereof or of any document or security furnished pursuant hereto or in connection herewith. The Bank shall both be entitled to rely on any communication, instrument or document believed by it to be genuine and correct and to have been signed or sent by the proper person or persons. The Pledgor agrees to indemnify and hold harmless the Bank, and/or agent of the Bank from and against any and all liability incurred by the Bank (or such agent) hereunder or in connection herewith, unless such liability shall be due to willful misconduct or gross negligence on the part of the Bank or such agents.

Exoneration, Indemnity. Neither the Bank, nor any director, officer or employee of the Bank, shall be liable to the Pledgor for any action taken or omitted to be taken by it or them hereunder in connection herewith, except for its or their own gross negligence or willful misconduct; nor shall the Bank be responsible for the validity, effectiveness or sufficiency hereof or of any document or security furnished pursuant hereto or in connection herewith. The Bank shall both be entitled to rely on any communication, instrument or document believed by it to be genuine and correct and to have been signed or sent by the proper person or persons. The Pledgor agrees to indemnify and hold harmless the BankBank and its directors, and/or agent officers and employees, and each of the Bank them, from and against any and all liability liability, loss, damage or cost incurred or suffered by the Bank (such person or such agent) entity hereunder or in connection herewith, unless such liability shall be due to willful misconduct or gross negligence on the part of the Bank such person or such agentsentity.