Common use of Expenses; Indemnification Clause in Contracts

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 3 contracts

Sources: Credit Agreement (American Water Works Company, Inc.), Credit Agreement (American Water Works Company, Inc.), Credit Agreement (American Water Works Company, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedlimited to a single counsel and a single local counsel in each relevant jurisdiction), (ii) without duplication of any fees separately agreed to by the Borrower, as well as all reasonable out-of-pocket costs and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Issuers in connection with the issuance, amendment, renewal or extension of any Letter Facility Letters of Credit or any demand for payment thereunder thereunder. The Company also agrees to reimburse the Administrative Agent, the Issuers and the Lenders for any reasonable out-of-pocket costs and expenses (iiilimited in the case of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) all documented out of pocket expenses for such affected person) paid or incurred by the Administrative Agent, any Lender, any Swing Line Bank Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, the Issuers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facilities and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 3 contracts

Sources: Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian, the Securities Intermediary and their Affiliates (including the each Lender, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent), the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationLoan Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank Agent and any Lender (other than overhead expenses but limited, in the case of legal fees and other similar expenses) in connection with , to the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder reasonable and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank in each case, a single additional firm or any LC Issuing Bankcounsel in each relevant jurisdiction for all similarly situated affected Persons)), including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for any Indemniteeall similarly situated affected Indemnitees), which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) any of the execution transactions contemplated by the Loan Documents or the execution, delivery or performance of this Agreementany Loan Document, (ii) the grant to the Collateral Agent, the Lenders of any other Lien, on the Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or covenant contained in any Loan Document or any agreement document relating to any Collateral or instrument contemplated hereby (vi) any loss arising from any action or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation inaction of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteedecision. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b) 12.3 shall not apply with respect to Taxes Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (Blue Owl Technology Income Corp.), Credit Agreement (Blue Owl Technology Income Corp.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the proceeds therefrom right to be indemnified hereunder (including i) to the extent such indemnification relates to relationships of, between or among each of, or any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrowerof, the Parent Agents, the Lenders or any Eligible Assignee or Participant or (ii) for such Indemnitee’s or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneysRelated Personsfees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of or the material breach by such Indemnitee or any of its Related Persons of their obligations (2if any) to have resulted from under this Agreement, as determined by a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document final and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case non-appealable judgment of a conflict court of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarycompetent jurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank Indemnified Taxes, Other Taxes or Swing Line Bank solely in its capacity as suchExcluded Taxes, only the Lenders which shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered solely by Section 7.03(b)8.03.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Lockheed Martin Corp), Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out-of-pocket expenses incurred by the Administrative AgentAgent or any Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one primary counsel for the Administrative AgentAgent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any actual or potential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesLoans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable lawApplicable Law, the Borrower shall not assert, and hereby waives, any claim against any IndemniteeLender, the Administrative Agent, and each Related Party of any of the foregoing (each a “Lender-Related Party”), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To No Lender-Related Party shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Term Loan Credit Agreement (Duke Energy Florida, Llc.), Term Loan Credit Agreement (Duke Energy CORP)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Agents (including any of their respective Affiliates) and each Lender (including any of its respective Affiliates) for any reasonable out-of-pocket costs and expenses documented in reasonable detail (limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of (i) White & Case LLP, as counsel to the Agents (plus one firm of local counsel to the Agents in each relevant jurisdiction and one firm of conflicts counsel to the Agents if the Agents determine engaging such counsel is appropriate in their sole discretion) and (ii) the Ad Hoc Group Advisors (plus one firm of local counsel per material jurisdiction to the Ad Hoc Group as may be reasonably necessary), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates Agents (including any of their respective Affiliates) and the reasonable and documented fees and expenses Lenders (including any of counsel for the Administrative Agent), their respective Affiliates) in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendmentsdelivery, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated)syndication, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuancereview, amendment, renewal or extension modification, and administration (including, without limitation, preparation of the reports described below) of the Loan Documents. The Company also agrees to reimburse the Agents and the Lenders for any Letter of Credit or any demand for payment thereunder and (iii) all documented out of reasonable out-of-pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) limited in the case of a conflict legal fees and expenses, to the reasonable fees, charges and disbursements of interest between (i) White & Case LLP, as counsel to the Agents (plus one or more firm of local counsel to the Administrative Agent, Agents in each relevant jurisdiction and one firm of conflicts counsel to the Syndication Agent, Agents if the Joint Lead Arrangers, Agents determine engaging such counsel is appropriate in their sole discretion) and (ii) ▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP (plus one firm of local counsel per material jurisdiction to the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel Ad Hoc Group as may be reasonably necessary)) paid or incurred by the Agents or any Lender in connection with the collection and enforcement of the Loan Documents. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative AgentAgents, each Joint Lead Arranger, Lender and the respective Related Parties of each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) fees and expenses (including but limited in the case of fees and expenses, to the reasonable fees, charges and documented fees disbursements of (i) White & Case LLP, as counsel to the Agents (plus one firm of local counsel to the Agents in each relevant jurisdiction and expenses one firm of conflicts counsel to the Agents if the Agents determine engaging such counsel is appropriate in their sole discretion) and (ii) the Ad Hoc Group Advisors (plus one firm of local counsel per material jurisdiction to the Ad Hoc Group as may be reasonably necessary)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of the Transactions, including, without limitation, (i) the execution or delivery of this Agreementfinancings contemplated thereby, any other Loan Document or any agreement transactions connected therewith (including the Transactions) or instrument contemplated hereby any claim, litigation, investigation or therebyproceeding (regardless of whether any such Indemnitee is a party thereto and regardless of whether such claim, the performance litigation, investigation or proceeding is brought by a third party or by the parties hereto Company or any of their respective obligations hereunder or thereunder or its Subsidiaries) to the consummation extent related to any of the transactions contemplated hereby or thereby, foregoing and (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Substances at any real property or from any property owned facility currently or formerly owned, leased or operated by the Borrower, the Parent Company or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent Company or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities or and related costs expenses to the extent they (a) are found in a final and expenses are determined by non-appealable judgment of a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the willful misconduct or gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith any of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksits Related Parties, (2b) [reserved] or (c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, DIP Term Facility and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Senior Secured Superpriority Debtor in Possession Term Loan Credit Agreement (DIEBOLD NIXDORF, Inc), Senior Secured Superpriority Debtor in Possession Term Loan Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement the Loan Documents shall be limited to a single counsel and a single local counsel in each relevant jurisdiction). The Company also agrees to reimburse the Administrative Agent and the other Loan Documents Lenders for any reasonable out-of-pocket costs and expenses (other than limited in the Support Agreementcase of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected person) paid or incurred by the Administrative Agent or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) Lender in connection with the issuance, amendment, renewal or extension collection and enforcement of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Bridge Facility and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Bridge Credit Agreement (Diebold Inc), Bridge Credit Agreement (Diebold Inc)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedlimited to a single counsel and a single local counsel in each relevant jurisdiction), (ii) without duplication of any fees separately agreed to by the Borrower, as well as all reasonable out-of-pocket costs and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Issuers in connection with the issuance, amendment, renewal or extension of any Letter Facility Letters of Credit or any demand for payment thereunder thereunder. The Company also agrees to reimburse the Administrative Agent, the Issuers and the Lenders for any reasonable out-of-pocket costs and expenses (iiilimited in the case of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) all documented out of pocket expenses for such affected person) paid or incurred by the Administrative Agent, any Lender, any Swing Line Bank Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents. The Company also agrees to reimburse each of the Initial TLA-1 Principal Lenders for any reasonable and documented out-of-pocket costs and expenses (including, including its rights under this Sectionwithout limitation, the reasonable and documented fees, expenses and disbursements of Stroock & Stroock & ▇▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and ▇▇▇▇, Weiss, Rifkind, ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and any reasonably necessary local or (Bforeign counsel and other professional advisors, of any Initial TLA-1 Principal Lender) in connection with the Advance made or Letters of Credit issued hereunderSixth Amendment, including all such out actions and investigations undertaken in accordance with the terms of pocket expenses incurred during any workout, restructuring or negotiations the Sixth Amendment in respect of such Advances or Letters the provision of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel additional Collateral in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more respect of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryObligations. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, the Issuers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facilities and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (DIEBOLD NIXDORF, Inc), Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) reimburse the Administrative Agent and each Arranger upon demand for all reasonable and documented out of pocket expenses paid or incurred by the Administrative Agent or such Arranger, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable and documented fees, charges and disbursements of one primary outside counsel and any special or local counsel to the Administrative Agent and the Arrangers, taken as a whole, incurred from time to time, in connection with the due diligence, preparation, administration, negotiation, execution, delivery, syndication, distribution (including, without limitation, via DebtX and any other internet service selected by the Administrative Agent), review, amendment, modification, and administration of the Loan Documents. The Borrower also agrees to reimburse the Administrative Agent, the Syndication AgentArrangers, the Joint Lead Arrangers LC Issuers and their Affiliates (including the Lenders for any reasonable and documented fees costs and out-of-pocket expenses, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable fees, charges and disbursements of outside counsel (which, in the case of legal counsel, shall be limited to the reasonable fees, charges and disbursements of (i) one primary counsel and any special and local counsel for the Administrative Agent, the Arrangers and the Lenders (including the LC Issuers), in connection with the syndication of the credit facility evidenced by this Agreementtaken as a whole, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication in the event of any fees separately agreed actual or potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Lenders (including the LC Issuers, if similarly situated), taken as a whole) to by the BorrowerAdministrative Agent, all reasonable the Arrangers, the LC Issuers and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal Lenders paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any LenderArranger, any Swing Line Bank LC Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights . Expenses being reimbursed by the Borrower under this SectionSection 9.6(a) include, or (B) without limitation, reasonable and documented costs and expenses incurred in connection with the Advance made Reports described in the following sentence. The Borrower acknowledges that from time to time U.S. Bank may prepare and may distribute to the Lenders (but shall have no obligation or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring duty to prepare or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, distribute to the Lenders, ) certain audit reports (the Swing Line Banks and “Reports”) pertaining to the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower’s assets for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one internal use by U.S. Bank from information furnished to it by or more on behalf of the Administrative AgentBorrower, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryafter U.S. Bank has exercised its rights of inspection pursuant to this Agreement. (b) The Borrower shall hereby further agrees to indemnify and hold harmless the Administrative Agent, each Joint Lead Arranger, each LC Issuer, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any of the foregoing Persons their directors, officers and employees, agents and advisors (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including including, without limitation, reasonable attorneys’ fees (which, in the case of legal counsel, shall be limited to the reasonable fees, charges and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result disbursements of (i) one primary counsel and any special and local counsel for the execution Indemnitees, taken as a whole, and (ii) in the event of any actual or delivery potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Indemnitees, taken as a whole, charges and disbursements and settlement costs (including, without limitation, all reasonable and documented expenses of litigation or preparation therefor) whether or not the Administrative Agent, any Arranger, any LC Issuer, any Lender or any affiliate is a party thereto) which any such Indemnitee may pay or incur arising out of or relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or therebyhereby, (ii) any Advance or Letter of Credit or the use or proposed Borrower’s use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)loan proceeds, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property Property owned or operated by the BorrowerBorrower or any of its Subsidiaries, the Parent any environmental liability related in any way to Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby direct or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to indirect application or proposed application of the proceeds of any Indemnitee, be available Credit Extension hereunder except to the extent that such losses, claims, damages, liabilities or related costs and expenses they are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the applicable Indemnitee. The obligations of the Borrower or under this Section 9.6 shall survive the Parent against an Indemnitee for breach in bad faith termination of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarythis Agreement. This Section 7.03(b9.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (Extra Space Storage Inc.), Credit Agreement (Extra Space Storage Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out-of-pocket expenses incurred by the Administrative AgentAgent or any Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one primary counsel for the Administrative AgentAgent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any actual or potential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, of or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any not such Indemnitee is shall be designated a party thereto) and the prosecution and defense thereof, relating to or arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by actual or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesproposed use of proceeds of Loans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimjurisdiction. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of CreditLoan, or the use of the proceeds thereof. To No Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy CORP)

Expenses; Indemnification. Subject to the provisions of this Agreement, the Borrower will pay (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, the Syndication Agent, Sustainability Structuring Agent and each Arranger and any Related Party of any of the Joint Lead Arrangers and their Affiliates foregoing (including the reasonable and documented fees legal fees, out-of-pocket costs and other reasonable expenses of counsel for the Administrative Agent and the Sustainability Structuring Agent), ) in connection with the syndication preparation, execution and delivery of the credit facility evidenced by this Agreement, the preparationNotes, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers hereto or thereto; provided that payments in respect of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby legal fees and expenses shall be consummatedlimited to reasonable and documented costs and expenses of a single external counsel to the Administrative Agent, the Sustainability Structuring Agent and each Arranger and their respective Related Parties and, if reasonably necessary, one local or special counsel in any relevant jurisdiction to such Persons (and, in the case of an actual or perceived conflict of interest where the Person affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Person, and, if reasonably necessary, of a single firm of local or special counsel acting in multiple jurisdictions), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iiib) all documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank the Sustainability Structuring Agent and the Lenders (including the documented fees fees, charges and expenses disbursements of any counsel for to the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), the Sustainability Structuring Agent and the Lenders) in connection with the enforcement or and protection of its the rights (A) in connection with of the Lenders under this Agreement and Agreement, the Notes or the other Loan Documents, including its rights under this Section, or and (Bc) in connection with all reasonable and documented out-of-pocket costs and expenses of periodic audits by the Advance made or Letters Administrative Agent’s personnel of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; the Borrower’s books and records provided that so long as an Event of Default has not occurred and is continuing, the Borrower shall only be required to pay the fees and expenses for (x) only one (1) outside counsel for such audit during any year. The Borrower further agrees to indemnify the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Sustainability Structuring Agent and the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, each such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing BankPerson’s respective Affiliates, and each Related Party of any of the foregoing Persons such Person’s and their Affiliates’ respective directors, officers, employees, agents and advisors (each such Person being called each, an “IndemniteeIndemnified Party”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related expenses (including, without limitation, all charges and disbursements of counsel (limited to reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any a single external counsel for all Indemnified Parties, taken as a whole, and, if reasonably necessary, one local or special counsel for all Indemnified Parties, taken as a whole, in any Indemnitee)relevant jurisdiction to such Persons, incurred and in the case of an actual or perceived conflict of interest, where an Indemnified Party affected by any Indemnitee or asserted against any Indemnitee by any Person (including such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnified Party and, if reasonably necessary, of a single firm of local or the Parentspecial counsel acting in multiple jurisdictions)) other than such Indemnitee and its Related Parties which any of them may pay or incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if Borrowing hereunder, except that the documents presented in connection with such demand do foregoing indemnity shall not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating apply to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Indemnified Party to the extent that such any losses, claims, damages, liabilities or related costs and expenses etc. are determined by a court of competent jurisdiction by a final and nonappealable non-appealable judgment (1) to have resulted from the gross negligence or such Indemnified Party’s Gross Negligence, willful misconduct or a breach in bad faith of its express obligations under the Loan Documents. In the case of an investigation, litigation or proceeding to which the indemnity in this Section applies, such Indemnitee indemnity shall be effective whether or (2) to have resulted from a claim not such investigation, litigation or proceeding is brought by the Borrower or the Parent against General Partner or the Borrower’s or the General Partner’s equity holders or creditors or an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Indemnified Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityotherwise party thereto. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Unsecured Term Loan Agreement (First Industrial Lp), Unsecured Term Loan Agreement (First Industrial Lp)

Expenses; Indemnification. (ai) The Borrower shall pay (i) all agrees to reimburse the Agent for any reasonable and documented out of out-of-pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of one counsel for to the Administrative Agent), ) paid or incurred by the Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery syndication, distribution and administration of this Agreement the Loan Documents, any waiver or consent hereunder or any amendment hereof. The Borrower agrees to reimburse the Agent and the other Loan Documents Lenders for any reasonable and documented out-of-pocket expenses (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby which shall be consummatedlimited, in the case of counsel fees and expenses, to the reasonable and documented fees, disbursements and other charges of (x) one counsel to the Administrative Agent (and one local counsel to the Administrative Agent in each relevant jurisdiction), (iiy) without duplication one counsel to all of any fees separately agreed the other Lenders taken as a whole (and one local counsel to the Lenders in each relevant jurisdiction) and (z) solely in the event of an actual or perceived conflict of interest (as reasonably determined by the BorrowerAdministrative Agent or the applicable Lender(s)), all reasonable one additional counsel (and documented out one local counsel in each relevant jurisdiction) for each group of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensessimilarly affected Lenders taken as a whole) in connection with the issuance, amendment, renewal paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank Agent or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (bii) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing BankLender and their respective affiliates, directors, officers, agents and each Related Party of any of the foregoing Persons employees (each such Person being called an “Indemnitee”) against, from and hold each Indemnitee of them harmless from, against any and all losses, liabilities, claims, damages, liabilities and related reasonable documented out of pocket costs and or expenses (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of any (x) one counsel for any Indemniteeto the Administrative Agent and its affiliated Indemnitees (and one local counsel to the Administrative Agent in each relevant jurisdiction), (y) one counsel to the other Indemnitees taken as a whole (and one local counsel to such Indemnitees in each relevant jurisdiction) and (z) solely in the event of an actual or perceived conflict of interest (as reasonably determined by the applicable Indemnitee(s)), one additional counsel (and one local counsel in each relevant jurisdiction) for each group of similarly affected Indemnitees taken as a whole) reasonably incurred by any Indemnitee of them (except to the extent any of the foregoing is found in a final judgment by a court of competent jurisdiction to have arisen or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of resulted from (i) the gross negligence, bad faith or willful misconduct of any Indemnitee or any Related Indemnified Person of such Indemnitee, (ii) a material breach of the express obligations of any Indemnitee or any Related Indemnified Person thereof under the Loan Documents, or (iii) any claim, litigation, investigation or proceeding (except to the extent involving any act or omission by the Borrower or any of its Subsidiaries or Affiliates) brought by any Indemnitee against any other Indemnitee or any Related Indemnified Person of any Indemnitee (other than claims against any Indemnitee or any of its Related Indemnified Persons in its capacity or in fulfilling its role as an agent, arranger, bookrunner or any similar role with respect to this Agreement)) arising out of or by reason of any investigation by governmental or judicial authorities or being made a party to any litigation or other similar proceeding related to (a) the execution or and delivery of this Agreement, any other of the Loan Document Documents or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (iib) any Advance or Letter of Credit or use by the use or proposed use Borrower of the proceeds therefrom (including of any refusal by Loan for the acquisition of any LC Issuing Bank to honor a demand for payment under a Letter other Person, including, without limitation, the reasonable fees, time charges and expenses of Credit if the documents presented outside counsel incurred in connection with any such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any proceeding. As used in this Section 9.15(ii), “Related Indemnified Person” of an Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment means (1) to have resulted from any Controlling Person or Controlled Affiliate of such Indemnitee, (2) the gross negligence respective directors, officers or willful misconduct employees of such Indemnitee or any of its Controlling Persons or Controlled Affiliates and (23) to have resulted from a claim brought by the Borrower respective agents, advisors or the Parent against an Indemnitee for breach in bad faith representatives of such Indemnitee’s obligations hereunder Indemnitee or under any other Loan Document and (y) be limited of its Controlling Persons or Controlled Affiliates, in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and this clause (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bankacting on behalf of or at the instructions of such Indemnitee, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank Controlling Person or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender)Controlled Affiliate; provided that with respect each reference to such unpaid amounts owed a Controlling Person, Controlled Affiliate, director, officer or employee in this sentence pertains to any LC Issuing Bank a Controlling Person, Controlled Affiliate, director, officer or Swing Line Bank solely employee involved in its capacity as suchthe structuring, only the Lenders shall be required to pay such unpaid amountsarrangement, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as negotiation or syndication of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred credit facility evidenced by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacitythis Agreement. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section 9.5 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Five Year Credit Agreement (General Dynamics Corp), Amendment and Restatement Agreement (General Dynamics Corp)

Expenses; Indemnification. (a) The Borrower shall agrees to pay (i) on demand all reasonable reasonably and documented out actually incurred costs and expenses of pocket expenses incurred by the Administrative AgentAgents, NationsBanc ▇▇▇▇▇▇▇▇▇▇ Securities LLC and the Lenders in connection with the syndication, preparation, execution, delivery, administration, modification, and amendment of this Agreement, the Syndication Agentother Loan Documents, and the other documents to be delivered under this Agreement, including, without limitation, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent, NationsBanc ▇▇▇▇▇▇▇▇▇▇ Securities LLC and the Lenders (including the cost of internal counsel) with respect thereto and with respect to advising the Administrative Agent or any Lender as to their rights and responsibilities under the Loan Documents. The Borrower further agrees to pay on demand all reasonably and actually incurred costs and expenses of the Agents and the Lenders, if any (including, without limitation, reasonable and actually incurred attorneys' fees and expenses and the reasonably and actually incurred cost of internal counsel), in connection with the syndication enforcement (whether through negotiations, legal proceedings, or otherwise) of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Loan Documents and the other documents to be delivered under this Agreement. (b) The Borrower agrees to indemnify and hold harmless each Agent and each Lender and each of their Affiliates (including, without limitation, NationsBanc ▇▇▇▇▇▇▇▇▇▇ Securities LLC) and their respective officers, directors, employees, agents, and advisors (each, an "Indemnified Party") from and against any and all claims, damages, losses, liabilities, costs, and expenses (including, without limitation, reasonable and actually incurred attorneys' fees) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation, litigation, or proceeding or preparation of defense in connection therewith) the Loan Documents (Documents, any of the transactions contemplated in this Agreement or the actual or proposed use of the proceeds of the Loans, except to the extent such claim, damage, loss, liability, cost, or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party's gross negligence or willful misconduct. In the case of an investigation, litigation or other than proceeding to which the Support Agreement) indemnity in this Section 13.2 applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Credit Party, its directors, shareholders or creditors or an Indemnified Party or any amendments, modifications other Person or waivers of the provisions hereof or thereof (any Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby or thereby shall be are consummated), (ii) without duplication of . The Borrower agrees not to assert any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by claim against any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank of their Affiliates, or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or therebydirectors, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)officers, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borroweremployees, the Parent or any of its Subsidiariesattorneys, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiariesagents, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemniteeadvisers, on any theory of liability, for special, indirect, consequential consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, of or as a result of, this Agreementotherwise relating to the Loan Documents, any other Loan Document, of the transactions contemplated hereby or thereby, any Advance or Letter of Credit, in this Agreement or the actual or proposed use of the proceeds thereof. To of the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, Loans. (c) Without prejudice to the survival of any claim against other agreement of the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, Borrower under this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use agreements and obligations of the proceeds thereof; provided that Borrower contained in this waiver Section 13.2 shall survive the payment in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any full of the foregoing to the extent such claim would be covered by Section 7.03(b)Loans and all other amounts payable under this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Golf Trust of America Inc), Credit Agreement (Golf Trust of America Inc)

Expenses; Indemnification. (ai) The Borrower shall pay (i) all reimburse the Agent and the Arrangers for any reasonable costs, internal charges and documented out of out-of-pocket expenses (including outside attorneys’ fees and time charges of attorneys for the Agent and expenses of and fees for other advisors and professionals engaged by the Agent or the Arrangers of one counsel to the Agent and the Arrangers and one counsel in each relevant local jurisdiction and, in the case of an actual or reasonably perceived conflict of interest where the parties affected by such conflict notify the Borrower of any existence of such conflict and has retained its own counsel, of another firm of counsel for such affected parties) paid or incurred by the Administrative Agent, Agent or the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreementinvestigation, the preparation, negotiation, documentation, execution, delivery delivery, syndication, distribution (including, without limitation, via the internet), review, amendment, modification and administration of the Loan Documents. The Borrower also agrees to reimburse the Agent, the Arrangers, the LC Issuers, and the Lenders for any reasonable costs, internal charges and out-of-pocket expenses (including outside attorneys’ fees and time charges and expenses of attorneys of one counsel for the Agent, the Arrangers, the LC Issuers, and the Lenders and one counsel in each relevant local jurisdiction and, in the case of an actual or reasonably perceived conflict of interest where the parties affected by such conflict notify the Borrower of any existence of such conflict and has retained its own counsel, of another firm of counsel for such affected parties) paid or incurred by the Agent, the Arrangers, any LC Issuer, or any Lender in connection with the collection and enforcement of the Loan Documents. In addition to expenses set forth above, the Borrower agrees to reimburse, without duplication, the Agent, promptly after the Agent’s request therefor, for each audit and field exam, or other business analysis performed by or for the benefit of the Holders of Secured Obligations in accordance with Section 6.9 of this Agreement and or the other Loan Documents in an amount equal to the Agent’s then customary charges for each person employed to perform such audit, field exam or analysis (other than which, solely with respect to charges for audits of Collateral, shall not exceed a rate of $850 per day for the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedAgent performing such audit), plus all reasonable costs and expenses (including without limitation, travel expenses) incurred by the Agent in the performance of such audit or analysis. (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each LC Issuer, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) againsttheir directors, officers, employees, agents and hold each Indemnitee harmless from, any and advisors against all losses, claims, damages, penalties, judgments, liabilities and related expenses (including, without limitation, all expenses of litigation or preparation therefor whether or not the Agent, any Arranger, any LC Issuer, any Lender or any affiliate is a party thereto, and all reasonable documented out attorneys’ fees, time charges and reasonable expenses of pocket costs one firm of counsel for all indemnified parties, taken as a whole (and, in the case of an actual or perceived conflict of interest where the indemnified parties affected by such conflict notify the Borrower of any existence of such conflict and expenses in connection with the investigating or defending any of the foregoing (including the reasonable and documented fees and expenses fees) has retained its own counsel, of any another firm of counsel for any Indemniteesuch affected indemnified parties), incurred by and to the extent required, one firm or local counsel in each relevant jurisdiction (which may include a single special counsel acting in multiple jurisdictions) which any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or therebyhereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (collectively, “Indemnified Costs”, including any refusal by any LC Issuing Bank such Indemnified Costs arising out of or relating to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliate thereof or any liability under Environmental Proceeding or Environmental Liability Laws related in any way to the Borrower, the Parent property or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any operations of the foregoingBorrower or its Affiliates, or the direct or indirect application or proposed application of the proceeds of any Credit Extension hereunder, and whether based on contractarising in a suit, tort claim or any other theory, whether action brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity the Borrower shall (x) not, as have no obligation hereunder to any Indemnitee, be available Indemnified Party with respect to the extent that such losses, claims, damages, indemnified liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment arising from (1i) to have resulted from the gross negligence or willful misconduct of such Indemnitee indemnified party or any related Person as determined in a final and non-appealable judgment as determined by a court of competent jurisdiction, (2ii) to have resulted from a claim material breach of the obligations of such indemnified party or any related Person under the terms of this Agreement by such indemnified party or any related Person as determined in the final and non-appealable judgment as determined by a court of competent jurisdiction in a proceeding brought by the Borrower or any Subsidiary, or (iii) any proceeding between and among indemnified parties that does not involve an act or omission by the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder Borrower or under any other Loan Document and (y) be limited in its Subsidiaries; provided that the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks LC Issuers and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect Lenders to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount acting in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its their capacity as such, only shall remain indemnified in respect of such proceeding, to the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as extent that none of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent exceptions set forth in clause (or any such sub-agenti), such LC Issuing Bank (ii) or such Swing Line Bank in its capacity as such, or against any Related Party of any (iii) of the foregoing acting for the Administrative Agent (or any immediately preceding proviso applies to such sub-agent), person at such LC Issuing Bank or any such Swing Line Bank in connection with such capacitytime. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section 9.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (Tesoro Corp /New/), Credit Agreement (Tesoro Corp /New/)

Expenses; Indemnification. (a) The Borrower shall pay within thirty (30) days after written notice from the Administrative Agent, (i) all reasonable out-of-pocket costs and documented out expenses of pocket expenses incurred by the Administrative AgentAgent (including, the Syndication Agentwithout limitation, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of special counsel for the Administrative Agent▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP ), in connection with any waiver or consent hereunder or any amendment hereof or any Default or alleged Default hereunder, (ii) all reasonable and documented fees and disbursements of special counsel in connection with the syndication of the credit facility evidenced by this AgreementLoans, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgent and each Bank, any Lenderincluding, any Swing Line Bank or any LC Issuing Bank (including the documented without limitation, reasonable and invoiced fees and expenses disbursements of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank)Agent and each of the Banks, in connection with the enforcement or protection of its rights the Loan Documents and the instruments referred to therein and such Event of Default and collection, bankruptcy, insolvency and other enforcement proceedings resulting therefrom (provided, however, that the attorneys’ fees and disbursements for which Borrower is obligated under this subsection (a)(iii) shall be limited to the reasonable and invoiced non-duplicative fees and disbursements of (A) in connection with this Agreement counsel for Administrative Agent and the other Loan Documents, including its rights under this Section, or (B) in connection with counsel for all of the Advance made or Letters of Credit issued hereunderBanks as a group; and provided, including further, that all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees other costs and expenses for which Borrower is obligated under this subsection (xa)(iii) one shall be limited to the reasonable and invoiced non-duplicative costs and expenses of Administrative Agent). For purposes of this subsection 9.3(a)(iii), (1) outside counsel for Administrative Agent shall mean a single outside law firm representing Administrative Agent and (2) counsel for all of the Banks as a group shall mean a single outside law firm representing such Banks as a group (which law firm may or may not be the same law firm representing the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary). (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, their respective affiliates and each Related Party of any the respective directors, officers, agents and employees of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee)kind, including, without limitation, the reasonable fees and disbursements of counsel, which may be incurred by such Indemnitee in connection with any Indemnitee investigative, administrative or judicial proceeding that may at any time (including, without limitation, at any time following the payment of the Obligations) be asserted against any Indemnitee by any Person (including the Borrower Indemnitee, as a result of, or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby by the Loan Documents or therebythe execution, delivery or performance of any Loan Document, (ii) any Advance or Letter of Credit violation by the Borrower or the use or proposed use Environmental Affiliates of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)applicable Environmental Law, (iii) any actual Environmental Claim arising out of the management, use, control, ownership or alleged presence operation of property or release of Hazardous Materials on or from any property owned or operated assets by the Borrower, the Parent Borrower or any of its Subsidiariesthe Environmental Affiliates, including, without limitation, all on-site and off-site activities of Borrower or any Environmental Proceeding or Affiliate involving Materials of Environmental Liability related in any way to the Borrower, the Parent or any of its SubsidiariesConcern, (iv) the breach of any actual environmental representation or prospective claimwarranty set forth herein, litigationbut excluding those liabilities, investigation losses, damages, costs and expenses (a) for which such Indemnitee has been compensated pursuant to the terms of this Agreement or proceeding that are excluded under Section 8.3, (b) incurred solely by reason of the gross negligence, willful misconduct, bad faith or fraud of such Indemnitee as finally determined by a court of competent jurisdiction, (c) arising from any violation of Environmental Law relating to a Property, which violation is caused by the act or omission of such Indemnitee after such Indemnitee takes possession of such Property or (d) owing by such Indemnitee to any third party based upon contractual obligations of such Indemnitee owing to such third party which are not expressly set forth in the Loan Documents. In addition, the indemnification set forth in this Section 9.3(b) in favor of any director, officer, agent or employee of Administrative Agent or any Bank shall be solely in their respective capacities as such director, officer, agent or employee. The Borrower’s obligations under this Section shall survive the termination of this Agreement and the payment of the foregoingObligations. Without limitation of the other provisions of this Section 9.3, whether based on contract, tort or any other theory, whether brought by a third party or by Borrower shall indemnify and hold each of the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) Administrative Agent and the prosecution Banks free and defense thereofharmless from and against all loss, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, costs (including reasonable and documented attorneys’ fees; provided fees and expenses), expenses, taxes, and damages (including consequential damages) that such indemnity shall (x) notthe Administrative Agent and the Banks may suffer or incur by reason of the investigation, as to defense and settlement of claims and in obtaining any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower prohibited transaction exemption under ERISA or the Parent against an Indemnitee for breach Code necessary in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more ’s reasonable judgment by reason of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any inaccuracy of the foregoingrepresentations and warranties, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as a breach of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitmentsprovisions, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount set forth in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c4.6(b). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Istar Financial Inc), Revolving Credit Agreement (Istar Financial Inc)

Expenses; Indemnification. (a) The Borrower shall pay within thirty (30) days after written notice from the Administrative Agent or the Arranger, (i) all reasonable out-of-pocket costs and expenses of the Administrative Agent (including, without limitation, reasonable and documented out fees and disbursements of special counsel ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP ) or the Arranger, as applicable, in connection with any waiver or consent hereunder or any amendment hereof or any Default or alleged Default hereunder, (ii) all reasonable and documented fees and disbursements of special counsel in connection with the syndication of the Loans, and (iii) if an Event of Default occurs, all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Syndication AgentArranger and each Bank, the Joint Lead Arrangers and their Affiliates (including the including, without limitation, reasonable and documented invoiced fees and expenses disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication AgentArranger and each of the Banks, in connection with the Joint Lead Arrangers, enforcement of the Lenders, the Swing Line Banks Loan Documents and the LC Issuing Banksinstruments referred to therein and such Event of Default and collection, bankruptcy, insolvency and other enforcement proceedings resulting therefrom (yprovided, however, that the attorneys’ fees and disbursements for which the Borrower is obligated under this subsection (a)(iii) any local and/or regulatory shall be limited to the reasonable and invoiced non-duplicative fees and disbursements of (A) counsel in any applicable jurisdiction for the Administrative Agent, (B) counsel for the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks Arranger as a group and (zC) in counsel for all of the case of Banks as a conflict of interest between one or more group; and provided, further, that all other costs and expenses for which the Borrower is obligated under this subsection (a)(iii) shall be limited to the reasonable and invoiced non-duplicative costs and expenses of the Administrative Agent). For purposes of this subsection (a)(iii), (1) counsel for the Syndication Administrative Agent shall mean a single outside law firm representing the Administrative Agent, (2) counsel for the Joint Lead Arrangers, Arranger shall mean a single outside law firm representing the Lenders, Arranger as a group (which law firm may or may not be the Swing Line same law firm representing the Administrative Agent) and (3) counsel for all of the Banks and as a group shall mean a single outside law firm representing such Banks as a group (which law firm may or may not be the LC Issuing Banks, such additional counsel as may be reasonably necessarysame law firm representing the Administrative Agent). (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, their respective affiliates and each Related Party of any the respective directors, officers, agents and employees of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee)kind, including, without limitation, the reasonable fees and disbursements of counsel, which may be incurred by such Indemnitee in connection with any Indemnitee investigative, administrative or judicial proceeding that may at any time (including, without limitation, at any time following the payment of the Obligations) be asserted against any Indemnitee by any Person (including the Borrower Indemnitee, as a result of, or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby by the Loan Documents or therebythe execution, delivery or performance of any Loan Document, (ii) any Advance or Letter of Credit violation by the Borrower or the use or proposed use Environmental Affiliates of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)applicable Environmental Law, (iii) any actual Environmental Claim arising out of the management, use, control, ownership or alleged presence operation of property or release of Hazardous Materials on or from any property owned or operated assets by the Borrower, the Parent Borrower or any of its Subsidiariesthe Environmental Affiliates, including, without limitation, all on-site and off-site activities of the Borrower or any Environmental Proceeding or Affiliate involving Materials of Environmental Liability related in any way to the Borrower, the Parent or any of its SubsidiariesConcern, (iv) the breach of any actual environmental representation or prospective claimwarranty set forth herein, litigationbut excluding those liabilities, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses (a) for which such Indemnitee has been compensated pursuant to the terms of this Agreement or that are determined excluded under Section 8.3, (b) incurred solely by a court reason of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee as determined by a final judgment of a court of competent jurisdiction, (c) arising from any violation of Environmental Law relating to a Property, which violation is caused by the act or omission of such Indemnitee after such Indemnitee takes possession of such Property or (2d) owing by such Indemnitee to have resulted from a claim brought by any third party based upon contractual obligations of such Indemnitee owing to such third party which are not expressly set forth in the Loan Documents. In addition, the indemnification set forth in this Section 9.3(b) in favor of any director, officer, agent or employee of any Agent or any Bank shall be solely in their respective capacities as such director, officer, agent or employee. The Borrower’s obligations under this Section 9.3 shall survive the termination of this Agreement and the payment of the Obligations. Without limitation of the other provisions of this Section 9.3, the Borrower or shall indemnify and hold each of the Parent Agents and the Banks free and harmless from and against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document all loss, costs (including reasonable and (y) be limited in the case of documented attorneys’ fees and expenses to expenses), expenses, taxes, and damages (1including consequential damages) one (1) outside counsel for that the Agents and the Banks may suffer or incur by reason of the investigation, defense and settlement of claims and in obtaining any prohibited transaction exemption under ERISA or the Code necessary in the Administrative Agent’s reasonable judgment by reason of the inaccuracy of the representations and warranties, or a breach of the Syndication Agentprovisions, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel set forth in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in Section 4.6(b). In the case of a conflict of interest between one an investigation, litigation or more of proceeding to which the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksindemnity in this paragraph applies, such additional counsel as may indemnity shall be reasonably necessary. This Section 7.03(b) shall effective whether or not apply with respect to Taxes other than any Taxes that represent lossessuch investigation, claimslitigation or proceeding is brought by the Borrower, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoingBorrower’s equity holders or creditors, each Lender severally agrees to pay to the Administrative Agent (an Indemnitee or any such sub-agent)other Person, such LC Issuing Bank, such Swing Line Bank whether or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment not an Indemnitee is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of otherwise a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c)party thereto. (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 2 contracts

Sources: Credit Agreement (Istar Financial Inc), Credit Agreement (Istar Financial Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reimburse the Administrative Agent for any reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket expenses incurred by third-party consultants, limited to reasonable fees for consultants engaged, unless an Unmatured Default or Default exists at the time of such engagement, with the consent of the Borrower (such consent not to be unreasonably conditioned, withheld or delayed) and in the case of counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the limited to reasonable and documented fees and expenses of for one external counsel for the Administrative Agent), ) paid or incurred by the Administrative Agent in connection with the syndication amendment or modification of the credit facility evidenced by this Agreement, Loan Documents. The Borrower also agrees to reimburse the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or Administrative Agent for any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket counsel, limited to reasonable fees and expenses for one external counsel for the Administrative Agent and the Lenders, taken as a whole, and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests, one additional counsel for each group of such similarly affected Persons) paid or incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Administrative Agent in connection with the issuancecollection and enforcement of the Loan Documents (including, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agentwithout limitation, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bankworkout), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) . The Borrower shall further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Banktheir Affiliates, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) againsttheir respective directors, officers and hold each Indemnitee harmless from, any and employees against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including but, in the case of counsel to such indemnified persons, limited to reasonable and documented fees out-of-pocket fees, and expenses for one external counsel to such indemnified parties (and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests among the indemnified parties, one additional counsel for any Indemniteeeach group of such similarly affected Persons), incurred by and all other reasonable and documented out-of-pocket expenses of litigation or preparation therefor whether or not the Administrative Agent or any Indemnitee Lender is a party thereto) which any of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of Projects, the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Loan hereunder, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available except to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court any of competent jurisdiction by final and nonappealable judgment the foregoing arise (1a) to have resulted from out of the gross negligence or willful misconduct of such Indemnitee the party seeking indemnification therefor or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of any Affiliate of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) party or (b) from claims of this Section to be paid by it to an indemnified party against any Affiliate of such indemnified party or (c) from internal disputes among the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of and the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, (x) the Borrower shall not assert, and hereby waives, any claim against any Indemniteeof the foregoing indemnified parties, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof. To , provided that the fullest extent permitted foregoing shall not apply to any claims brought by applicable law, no Indemnitee any other third party and (y) the Administrative Agent and the Lenders shall not assert, and each Indemnitee hereby waiveswaive, any claim against any of the BorrowerBorrower and any other Loan Party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof; , provided that this waiver the foregoing shall in no way limit not apply to any claims brought by any other third party. The obligations of the Borrower’s indemnification obligations in Section 7.03(b) Borrower to the extent Administrative Agent and the Lenders under this Section shall survive the termination of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Inland Real Estate Income Trust, Inc.), Credit Agreement (Inland Real Estate Income Trust, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify each Agent and ▇▇▇▇▇▇, their respective affiliates and the Administrative Agentrespective directors, each Joint Lead Arrangerofficers, each Lender, each Swing Line Bank agents and each LC Issuing Bank, and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, of this Agreement or as a result any actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the right to be indemnified hereunder (i) to the execution extent such indemnification relates to relationships of, between or delivery of this Agreementamong each of, any other Loan Document or any agreement or instrument contemplated hereby or therebyof, the performance by Agents, the parties hereto of their respective obligations hereunder Lenders or thereunder any Eligible Assignee or the consummation of the transactions contemplated hereby or therebyParticipant, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Indemnitee’s or any of its SubsidiariesRelated Persons’ gross negligence, bad faith or any Environmental Proceeding willful misconduct or Environmental Liability related in any way to the Borrower, the Parent material breach by such Indemnitee or any of its Subsidiaries, Related Persons of their obligations (ivif any) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, under this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a final and non-appealable judgment of a court of competent jurisdiction or (iii) for any settlement entered into by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee without the Company’s written consent (not to be unreasonably withheld, conditioned or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarydelayed). This Section 7.03(b) shall not apply with respect to any Indemnified Taxes, Other Taxes other than any Taxes that represent lossesor Excluded Taxes, claims, damages, etc. arising from any non-Tax claimwhich shall be covered solely by Section 8.03. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, none of the Borrower Company, the Agents and the Lenders shall not assert, and each of the Company, the Agents and the Lenders hereby waives, and acknowledges that no other Person shall have, any claim against the Company, any Indemnitee or any Indemnitee’s Related Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or therebyhereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that nothing contained in this waiver Section 9.04(c) shall in no way limit the BorrowerCompany’s indemnification indemnity or reimbursement obligations set forth in Section 7.03(b9.04(b) to the extent of such special, indirect, consequential or punitive damages are included in any third party claim by any Person other than the Borrower, the Parent or any in connection with which such Indemnitee or its Indemnitee’s Related Parties for any Person is entitled to indemnification hereunder. (d) All payments of fees and expenses and reimbursements by the foregoing Company pursuant to this Section 9.04 shall be made not later than 30 days (or during an Event of Default, not later than 10 Business Days) following receipt by the extent Company from the applicable Agent or Lender of an invoice setting forth in reasonable detail such claim would amounts to be covered by Section 7.03(b).paid,

Appears in 1 contract

Sources: Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian, the Securities Intermediary and their Affiliates (including the each Lender, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent), the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationTransaction Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank Agent and any Lender (other than overhead expenses but limited, in the case of legal fees and other similar expenses) in connection with , to the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder reasonable and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank in each case, a single additional firm or any LC Issuing Bankcounsel in each relevant jurisdiction for all similarly situated affected Persons)), including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Transaction Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the -150- Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for any Indemniteeall similarly situated affected Indemnitees), which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby by the Transaction Documents or therebythe execution, delivery or performance of any Transaction Document, (ii) the grant to the Collateral Agent, the Lenders of any Advance or Letter of Credit or Lien, on the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any actual agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or alleged presence covenant contained in any Transaction Document or release of Hazardous Materials on any document relating to any Collateral or (vi) any loss arising from any property owned action or operated by inaction of the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteedecision. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b) 12.3 shall not apply with respect to Taxes Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Blue Owl Technology Finance Corp.)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the Administrative Agentevent of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) for each person or group of persons subject to such conflict). • The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Bank, and each their respective Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, any Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) the direct or indirect application or proposed application of the proceeds of any Advance Loan or Facility Letter of Credit or the use or proposed use of the proceeds therefrom (hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ (except the Administrative Agent in its capacity as such) obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Agent or any Issuing Banks, (2) any local and/or regulatory counsel Bank in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. . • Numbers of Documents. All statements, notices, closing documents, and requests hereunder shall (cif the Administrative Agent so requests) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it furnished to the Administrative Agent with sufficient counterparts so that the Administrative Agent may furnish one to each of the Lenders. • Accounting. Except as provided to the contrary herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with generally accepted accounting principles in the United States, as in effect from time to time (“GAAP”); provided, however, if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any sub-agent thereofLoan Document (including for pricing purposes), any LC Issuing Bankand either the Company or the Required Lenders shall so request, any Swing Line Bank the Administrative Agent, the Lenders and the Company shall negotiate in good faith to amend such ratio or any Related Party requirement to preserve the original intent thereof in light of any such change in GAAP (subject to the approval of the foregoingRequired Lenders); provided that, each Lender severally agrees until so amended, (i) such ratio or requirement shall continue to pay be computed in accordance with GAAP prior to such change therein and (ii) the Company shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Notwithstanding the foregoing, any obligation of a Person under a lease (whether existing now or entered into in the future) that is not (or would not be) required to be classified and accounted for as a capital lease on the balance sheet of such Person under GAAP as in effect on December 31, 2018 shall not be treated as a capital lease solely as a result of the adoption of any such sub-agent)changes in, such LC Issuing Bankor changes in the application of, such Swing Line Bank or such Related PartyGAAP after December 31, 2018 and, as a result, leases shall continue to be classified and accounted for on a basis consistent with their treatment on December 31, 2018, notwithstanding any change in GAAP relating thereto, unless the case may beCompany, the Borrower and the Required Lenders shall enter into a mutually acceptable amendment addressing such Lender’s Pro Rata Share (determined changes, as provided for above. • Severability of the time Provisions. Any provision in any Loan Document that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitmentsheld to be inoperative, unenforceable, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including invalid in any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expensejurisdiction shall, as the case may beto that jurisdiction, was incurred by or asserted against the Administrative Agent (or any such sub-agent)be inoperative, such LC Issuing Bank or such Swing Line Bank in its capacity as suchunenforceable, or against invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent)other jurisdiction, such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under and to this paragraph (c) are subject to end the provisions of Section 2.21(c)all Loan Documents are declared to be severable. (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out out‑of‑pocket expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out‑of‑pocket expenses incurred by the Administrative Agent or any Lender, including reasonable fees and disbursements of one primary counsel for the Administrative Agent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any Swing Line Bank actual or any LC Issuing Bankpotential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the such Event of Default and collection and other enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for 39 all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesLoans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To No Indemnitee referred to in paragraph ‎(b) above shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Credit Agreement (Progress Energy Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable, out-of-pocket costs and expenses of the Administrative Agent and its Affiliates (but limited, in the case of legal fees, charges, disbursements and expenses, to the actual reasonable and documented out out-of-pocket fees, disbursements and other charges of pocket expenses incurred by one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole and, solely in the Administrative Agentcase of an actual or potential conflict of interest, the Syndication Agent(x) one additional counsel to all affected Persons, the Joint Lead Arrangers taken as a whole, and their Affiliates (including the reasonable and documented fees and expenses of y) one additional local counsel for the Administrative Agentto all affected Persons, taken as a whole, in each relevant jurisdiction), in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lender, any Swing Line Issuing Bank or any LC Issuing Bank Lender (including but limited, in the case of legal fees, charges, disbursements and expenses, to the actual reasonable and documented fees out-of-pocket fees, disbursements and expenses other charges of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole and, solely in the case of an actual or potential conflict of interest, (x) one additional counsel for the Administrative Agentto all affected Persons, any Lendertaken as a whole, any Swing Line Bank or any LC Issuing Bank)and (y) one additional local counsel to all affected Persons, taken as a whole, in each relevant jurisdiction) in connection with the enforcement or protection of its rights (A) or remedies in connection with this Agreement and the other Loan DocumentsAgreement, including its rights and remedies under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Issuing Bank and each LC Issuing BankSwingline Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including but limited, in the case of legal fees and expenses, to the reasonable and documented fees out-of-pocket fees, disbursements and expenses other charges of one firm of outside counsel to all Indemnitees taken as a whole and, if reasonably necessary, one local counsel in any relevant jurisdiction to all Indemnitees, taken as a whole and, solely in the case of an actual or potential conflict of interest, (x) one additional counsel for any Indemnitee)to all affected Indemnitees, taken as a whole, and (y) one additional local counsel to all affected Indemnitees, taken as a whole, in each relevant jurisdiction) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials of Environmental Concern on or from any property owned or operated by the Borrower, the Parent or any of its SubsidiariesProperties, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee or Indemnitee, (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and Document, or (yz) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for any dispute solely among any Indemnitees, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, or any of their respective Related Parties (2) any local and/or regulatory counsel in any applicable jurisdiction for the other than claims against Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, or any Person or entity acting in a similar capacity acting pursuant to this Agreement or in its capacity as such) to the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one extent such disputes did not arise from any act or more omission of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryBorrower or its Affiliates. This Section 7.03(bSubsection ‎(b) hereof shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof)Agent, any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoingSwingline Lender under subsection ‎(a) or ‎(b) hereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable) determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower no party to this Agreement shall not assert, and each party to this Agreement hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided that nothing in this clause ‎(d) shall relieve the fullest extent permitted by applicable law, no Borrower of any obligation it may have to indemnify any Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed asserted against such Indemnitee by a third party. No Indemnitee referred to direct in Section 10.3 shall be liable for any damages arising from the use by unintended recipients of any information or actual damages) arising out ofother materials distributed by it through telecommunications, electronic or other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any the other Loan Document, Documents or the transactions contemplated hereby or thereby. (e) The Borrower shall not, any Advance or Letter of Credit, or without the use prior written consent of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent applicable Indemnitee, effect any settlement of any claim actual or prospective claim, litigation, investigation, arbitration or proceeding in respect of which such Indemnitee is a party and indemnity has been sought under this Section by such Indemnitee, unless such settlement (i) includes an unconditional release of such Indemnitee in form and substance reasonably satisfactory to such Indemnitee from all liability on claims that are the subject matter of such indemnity and (ii) does not include any Person other than the Borrowerstatement as to or any admission of fault, the Parent culpability or a failure to act by or on behalf of any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would injunctive relief or other non-monetary remedy. (f) All amounts due under this Section shall be covered by Section 7.03(b)payable not later than ten (10) days after a reasonably detailed written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Pure Storage, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out-of-pocket expenses incurred by the Administrative AgentAgent or any Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one primary counsel for the Administrative AgentAgent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any actual or potential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesLoans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable lawApplicable Law, the Borrower shall not assert, and hereby waives, any claim against any Indemniteethe Administrative Agent, each Lender , and the respective Related Parties of the foregoing (each a “Lender-Related Party”), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To No Lender-Related Party shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Credit Agreement (Duke Energy Florida, Llc.)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the Administrative Agentevent of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryfor each person or group of persons subject to such conflict). (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, each Lender, each Swing Line Bank Lender and each LC Issuing Bank, and each their respective Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, any Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (of any Loan hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ (except the Administrative Agent in its capacity as such) obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger or the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel Agent in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. Subject to the provisions of this Agreement, the Borrower will pay (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Sustainability Structuring Agent and each LC Issuing Bank, Arranger and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting (including the reasonable and documented legal fees, out-of-pocket costs and other reasonable expenses of counsel for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank and the Sustainability Structuring Agent) in connection with the preparation, execution and delivery of this Agreement, the Notes, the other Loan Documents and any amendments, modifications or waivers hereto or thereto; provided that payments in respect of legal fees and expenses shall be limited to reasonable and documented costs and expenses of a single external counsel to the Administrative Agent, the Sustainability Structuring Agent and each Arranger and their respective Related Parties and, if reasonably necessary, one local or special counsel in any relevant jurisdiction to such capacity. The obligations Persons (and, in the case of an actual or perceived conflict of interest where the Person affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Person, and, if reasonably necessary, of a single firm of local or special counsel acting in multiple jurisdictions), (b) all out-of-pocket costs and expenses incurred by the Administrative Agent, the Sustainability Structuring Agent and the Lenders (including the fees, charges and disbursements of counsel to the Administrative Agent, the Sustainability Structuring Agent and the Lenders) in connection with the enforcement and protection of the rights of the Lenders under this paragraph Agreement, the Notes or the other Loan Documents, and (c) are subject to all reasonable and documented out-of-pocket costs and expenses of periodic audits by the provisions Administrative Agent’s personnel of Section 2.21(c). (d) To the fullest extent permitted by applicable lawBorrower’s books and records provided that so long as an Event of Default has not occurred and is continuing, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, be required to pay for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent only one such claim would be covered by Section 7.03(b).audit during any

Appears in 1 contract

Sources: Unsecured Term Loan Agreement (First Industrial Lp)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedlimited to a single counsel and a single local counsel in each relevant jurisdiction), (ii) without duplication of any fees separately agreed to by the Borrower, as well as all reasonable out-of-pocket costs and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Issuers in connection with the issuance, amendment, renewal or extension of any Letter Facility Letters of Credit or any demand for payment thereunder thereunder. The Company also agrees to reimburse the Administrative Agent, the Issuers and the Lenders for any reasonable out-of-pocket costs and expenses (iiilimited in the case of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) all documented out of pocket expenses for such affected person) paid or incurred by the Administrative Agent, any Lender, any Swing Line Bank Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents. The Company also agrees to reimburse each of the Initial TLA-1 Principal Lenders for any reasonable and documented out-of-pocket costs and expenses (including, including its rights under this Sectionwithout limitation, the reasonable and documented fees, expenses and disbursements of Stroock & Stroock & L▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and P▇▇▇, Weiss, Rifkind, W▇▇▇▇▇▇ & G▇▇▇▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and any reasonably necessary local or (Bforeign counsel and other professional advisors, of any Initial TLA-1 Principal Lender) in connection with the Advance made or Letters of Credit issued hereunderSixth Amendment, including all such out actions and investigations undertaken in accordance with the terms of pocket expenses incurred during any workout, restructuring or negotiations the Sixth Amendment in respect of such Advances or Letters the provision of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel additional Collateral in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more respect of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryObligations. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, the Issuers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facilities and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all The Company will reimburse the Anomaly Board Representative for their reasonable and documented out of out-of-pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication travel to or from and attendance at each meeting of the credit facility evidenced by this AgreementBoard of Directors. In addition, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall Anomaly Board Representative will be consummated), (ii) without duplication of any fees separately agreed entitled to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) compensation in connection accordance with the issuanceCompany’s non-employee director compensation policy, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), as in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Crediteffect from time to time; provided that the Borrower Company shall only cooperate to the fullest extent possible with any transfer or assignment to Anomaly or its designee of any compensation, whether in cash, securities, or other property, which the Anomaly Board Representative is entitled to receive from the Company for serving on the board of directors, if so required by any Anomaly policy or agreement applicable to the Anomaly Board Representative. (ii) The Anomaly Board Representative shall be required entitled to pay indemnification by the fees and expenses for (x) one (1) outside counsel for Company to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks maximum extent permitted by applicable law and the LC Issuing BanksCompany’s governing documents and shall enter into the Company’s standard form of indemnification agreement with its executive officers and directors, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. amended from time to time, on terms at least as favorable to the Anomaly Board Representative as those then provided by the Company to any other member of the board of directors. The Company hereby acknowledges that the Anomaly Board Representative may have certain rights to indemnification, advancement of expenses and/or insurance provided by Anomaly or certain of its affiliates (b) The Borrower shall indemnify collectively, the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank“Anomaly Indemnitors”), and each Related Party agrees that the liability of the Company in respect of its obligations to the Anomaly Board Representative in respect of indemnification, expense advancement, amounts paid in compromise or settlement, and the other obligations of the Company pursuant to such indemnification agreement or similar or related obligation of the Company shall be primary, without regard to any advancement or payment by any Anomaly Indemnitor on behalf of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred Anomaly Board Representative. Without limitation by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contractthe Company hereby irrevocably waives, tort relinquishes and releases the Anomaly Indemnitors from any and all claims against any of them for contribution, subrogation or any other theory, whether brought by a third party recovery of any kind in respect of any Company obligation to the Anomaly Board Representative under any indemnification agreement or similar or related obligation of the Company. In no case shall the terms of any agreement with the Company entered into by the BorrowerAnomaly Board Representative be deemed to terminate, amend, modify or replace the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) terms of this Section 5.2(c)(ii) unless the Anomaly Board Representative explicitly consents to be paid such termination, amendment, modification or replacement by it specific reference to this Section 5.2(c)(ii). The Company agrees that the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any Anomaly Indemnitors are express third party beneficiaries of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as terms of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c5.2(c)(ii). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Securities Purchase Agreement (Rani Therapeutics Holdings, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole, in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, of this Agreement or as a result any actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the right to be indemnified hereunder (i) to the execution extent such indemnification relates to relationships of, between or delivery of this Agreementamong each of, any other Loan Document or any agreement or instrument contemplated hereby or therebyof, the performance by Agents, the parties hereto of their respective obligations hereunder Lenders or thereunder any Eligible Assignee or the consummation of the transactions contemplated hereby or therebyParticipant, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Indemnitee’s or any of its SubsidiariesRelated Persons’ gross negligence, bad faith or any Environmental Proceeding willful misconduct or Environmental Liability related in any way to the Borrower, the Parent material breach by such Indemnitee or any of its Subsidiaries, Related Persons of their obligations (ivif any) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, under this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a final and non-appealable judgment of a court of competent jurisdiction or (iii) for any settlement entered into by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee without the Company’s written consent (not to be unreasonably withheld, conditioned or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarydelayed). This Section 7.03(b) shall not apply with respect to any Indemnified Taxes, Other Taxes other than any Taxes that represent lossesor Excluded Taxes, claims, damages, etc. arising from any non-Tax claimwhich shall be covered solely by Section 8.03. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, none of the Borrower Company, the Agents and the Lenders shall not assert, and each of the Company, the Agents and the Lenders hereby waives, and acknowledges that no other Person shall have, any claim against the Company, any Indemnitee or any Indemnitee’s Related Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or therebyhereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that nothing contained in this waiver Section 9.04(c) shall in no way limit the BorrowerCompany’s indemnification indemnity or reimbursement obligations set forth in Section 7.03(b9.04(b) to the extent of such special, indirect, consequential or punitive damages are included in any third party claim by any Person other than the Borrower, the Parent or any in connection with which such Indemnitee or its Indemnitee’s Related Parties for any Person is entitled to indemnification hereunder. (d) All payments of fees and expenses and reimbursements by the foregoing Company pursuant to this Section 9.04 shall be made not later than 30 days (or during an Event of Default, not later than 10 Business Days) following receipt by the extent Company from the applicable Agent or Lender of an invoice setting forth in reasonable detail such claim would amounts to be covered by Section 7.03(b).paid,

Appears in 1 contract

Sources: 364 Day Revolving Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian, the Securities Intermediary and their Affiliates (including the each Lender, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent), the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationLoan Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank Agent and any Lender (other than overhead expenses but limited, in the case of legal fees and other similar expenses) in connection with , to the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder reasonable and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank or any LC Issuing Bankin each case, a single additional firm of counsel in each relevant jurisdiction for all similarly situated affected Persons), including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for any Indemniteeall similarly situated affected Indemnitees), which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) any of the execution transactions contemplated by the Loan Documents or the execution, delivery or performance of this Agreementany Loan Document, (ii) the grant to the Collateral Agent, the Lenders of any other Lien, on the Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or covenant contained in any Loan Document or any agreement document relating to any Collateral or instrument contemplated hereby (vi) any loss arising from any action or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation inaction of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteedecision. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b12.3(b) shall not apply with respect to Taxes Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Blue Owl Technology Finance Corp. II)

Expenses; Indemnification. (a) The Borrower shall pay (i) reasonable, documented out-of-pocket expenses, including the reasonable fees and expenses of one special counsel for the Administrative Agent in connection with the preparation of this Agreement and (ii) if an Event of Default occurs, all reasonable and reasonable, documented out of out-of-pocket expenses incurred by the Administrative AgentAgent and the Lenders, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of one outside counsel for the Administrative AgentAgent and the Lenders (in addition to one local counsel in each applicable local jurisdiction if reasonably necessary as determined by the Administrative Agent and, if the Administrative Agent or one or more Lenders shall determine in good faith that there is an actual conflict between its interests and the interests of the Lenders or other Lenders, as the case may be, one additional counsel for each such Lender), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, Issuing Lender and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses (including of any kind, including, without limitation, the reasonable and reasonable, documented fees and expenses disbursements of any one outside counsel selected by the Administration Agent for the Indemnitees (in addition to one local counsel in each applicable local jurisdiction if reasonably necessary as determined by the Administrative Agent and, to the extent one or more Indemnitees shall determine in good faith that there is an actual conflict between its interests and the interests of other Indemnitees, one additional counsel for any each such Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in response to or in defense of any investigative, administrative or judicial proceeding brought or threatened against the Administrative Agent, any Issuing Lender or any Lender relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of proceeds of Loans; provided that no Indemnitee shall have the proceeds therefrom right to be indemnified hereunder (including i) to the extent such indemnification relates to relationships between or among each of, or any refusal by of, the Administrative Agent, the Issuing Lenders, the Lenders or any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do Assignee or Participant and does not strictly comply with the terms of such Letter of Credit), (iii) involve any actual act or alleged presence or release of Hazardous Materials on or from any property owned or operated omission by the Borrower, the Parent Borrower or (ii) for such Indemnitee’s own gross negligence or willful misconduct or any bad faith breach by such Indemnitee of any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, material obligations hereunder as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjudgment. This Section 7.03(b9.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) . To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower no party hereto shall not assert, and each such party hereby waives, any claim against any Indemniteeother party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions Document or any agreement or instrument contemplated hereby or thereby, any Advance Loan or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Credit or the use of the proceeds thereof; provided that nothing in this waiver sentence shall in no way limit relieve the Borrower’s indemnification obligations in Section 7.03(b) to the extent Borrower of any claim obligation it may have to indemnify an Indemnitee against special, indirect, consequential or punitive damages asserted against such Indemnitee by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)a third party.

Appears in 1 contract

Sources: Credit Agreement (Martin Marietta Materials Inc)

Expenses; Indemnification. (a) The Borrower shall pay agrees to pay, within ten (i10) Business Days after the receipt of written notice from the Collateral Agent or any Lender, all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentCollateral Agent and the Lenders, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of counsel for the Administrative Agent)counsel, in connection with with: (i) the syndication of the credit facility evidenced by this Agreementnegotiation, the preparation, negotiation, execution, delivery delivery, and administration filing, if required of this Agreement and the other Loan Documents (other than provided that the Support Agreementobligation to reimburse under this clause (i) or any amendments, modifications or waivers of shall not exceed $300,000 in the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedaggregate), (ii) without duplication any amendments, modifications, supplements, consents or waivers hereto or to the other Loan Documents and (iii) the administration, preservation or enforcement of any fees separately agreed its or their rights under this Agreement and the other Loan Documents (collectively, the “Borrower Expenses”). (b) From and at all times after the Agreement Date, and in addition to by all of the Collateral Agent’s and the Lenders’ other rights and remedies against the Borrower, the Borrower agrees to indemnify, defend and hold harmless the Collateral Agent and the Lenders and their respective Related Parties (each such Person, including the Collateral Agent and the Lenders, being called an “Indemnitee”) from and against all damages, losses and other out-of- pocket costs and expenses of any kind or nature whatsoever (including reasonable attorneys’ fees and expenses, court costs and fees, and consultant and expert witness fees and expenses, but limited in the case of attorney’s fees and expenses to the reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses fees, disbursements and other similar expenses) in connection with charges of one counsel to the issuanceIndemnitees, amendmenttaken as a whole and if reasonably necessary, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable each appropriate jurisdiction for the Administrative Agent(and, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more interest, where the Indemnitee affected by such conflict notifies the Borrower of the Administrative Agentexistence of such conflict and thereafter retains its own counsel, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such one additional separate counsel as may be reasonably necessary. for all similarly affected Indemnitees) (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an collectively IndemniteeCosts”) againstarising in any manner, and hold each Indemnitee harmless fromdirectly or indirectly, out of or by reason of any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses claims (including the reasonable and documented fees and expenses of any counsel for any Indemniteewhether valid or not), incurred by any Indemnitee or asserted against any Indemnitee by any Person actions, suits, inquiries, investigations and administrative proceedings (including the Borrower or the Parentcollectively, “Proceedings”) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of relating to (i) the negotiation, preparation, execution or delivery performance of this Agreement, any Agreement or the other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its SubsidiariesDocuments, or any Environmental Proceeding transaction contemplated herein or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoingtherein, whether based on contract, tort or not any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee protected under this Section 10.14(b) is a party theretoto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreementtarget of, any other Loan DocumentProceeding in question (provided, however, that no Indemnitee shall have the right to be indemnified hereunder for any liability resulting from the willful misconduct or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that gross negligence of such indemnity shall Indemnitee (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are finally determined by a court of competent jurisdiction jurisdiction), material breach by final any Lender of its obligations under this Agreement, or disputes that are solely among Lenders or among the Collateral Agent and nonappealable judgment the Lenders other than disputes arising from an act or omission of the Borrower), (1ii) to have resulted from any breach of any of the gross negligence covenants, warranties or willful misconduct representations of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document Document, (iii) any Lien or charge upon amounts payable hereunder by the Borrower to the Lenders or any taxes, assessments, impositions and other charges in respect of the Collateral, or (yiv) any violation or alleged violation of any Applicable Law, equitable requirement or other legal requirement by the Borrower or with respect to any Collateral to the extent that the Borrower is alleged to be responsible for such violation or alleged violation. All Costs shall be additional Secured Obligations under this Agreement, shall be payable within ten (10) Business Days of demand to the Indemnitee and shall be secured by the security interest and Lien created hereunder. The obligations of the Borrower under this Section 10.14(b) shall not be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more extent by payment of the Administrative Agent, Secured Obligations and termination of this Agreement and shall remain in full force and effect until expressly terminated by the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryLenders in writing. This Section 7.03(b10.14(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim, or any Indemnified Taxes. (c) To the extent that the Borrower for any reason fails Halozyme agrees to indefeasibly pay any amount required under paragraph (a) or (b) of this Section indemnify each Indemnitee against, and to be paid by it to the Administrative Agent (or any sub-agent thereof)hold each Indemnitee harmless from, any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was all Costs incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) Indemnitee arising out of, in connection any way connected with, or as a result of: (i) any representation, warranty or certification made by Halozyme in this Agreement or certificates given by Halozyme in writing pursuant hereto which is untrue, inaccurate or incomplete in any material respect; (ii) any Parent Disbursement Instruction delivered to Escrow Agent by Halozyme pursuant to Section 6.03(c) which is untrue, inaccurate or incomplete; (iii) any material breach of or default under any covenant or agreement by Halozyme pursuant to this Agreement and, if capable of being remedied, such breach or default shall continue unremedied for a period of thirty (30) days, (iv) any material breach or default under any covenant or agreement by Halozyme pursuant to either License Agreement, and if capable of being remedied, such breach or default shall continue unremedied for a period of thirty (30) days; or (v) any Set-off by Roche (or its Affiliates) or Baxalta (or its Affiliates) of any amount against the otherwise required amount of any Post- Closing Royalty Amounts; provided that such indemnity shall not, as to any Indemnitee, apply to any such Costs arising from willful misconduct or gross negligence of such Indemnitee (as finally determined by a court of competent jurisdiction). Notwithstanding the foregoing, (x) no provision of this Agreement shall be deemed or may be construed to constitute a Guaranty or assurance by Halozyme as to the amount of any Post-Closing Royalty Amount or of the value of the Collateral and (y) neither the Collateral Agent, the Lenders nor any other Indemnitee shall have any recourse under this Agreement against Halozyme, its assets or properties, except for claims expressly provided for under this Section 10.14(c). (d) The provisions of this Section 10.14 shall survive termination of this Agreement, and shall remain operative and in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loan, the occurrence of the Maturity Date, the invalidity, illegality, or unenforceability of any term or provision of this Agreement or any other Loan Document, the transactions contemplated hereby or thereby, any Advance investigation made by or Letter of Credit, or the use on behalf of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent Collateral Agent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would Lender. All amounts due under this Section 10.14 shall be covered by Section 7.03(b)payable within ten (10) Business Days following written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Halozyme Therapeutics Inc)

Expenses; Indemnification. Subject to the provisions of this Agreement, the Borrower will pay (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers Sustainability Structuring Agent and their Affiliates each Arranger (including the reasonable and documented fees legal fees, out-of-pocket costs and other reasonable expenses of counsel for the Administrative Agent and the Sustainability Structuring Agent), ) in connection with the syndication preparation, execution and delivery of the credit facility evidenced by this Agreement, the preparationNotes, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers hereto or 105 thereto; provided that payments in respect of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby legal fees and expenses shall be consummatedlimited to reasonable and documented costs and expenses of a single external counsel to the Administrative Agent, the Sustainability Structuring Agent and each Arranger and their respective Affiliates and, if reasonably necessary, one local or special counsel in any relevant jurisdiction to such Persons (and, in the case of an actual or perceived conflict of interest where the Person affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Person, and, if reasonably necessary, of a single firm of local or special counsel acting in multiple jurisdictions), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iiib) all documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lenderthe Sustainability Structuring Agent, any Swing Line Bank or any LC the Issuing Bank Banks and the Lenders (including the documented fees fees, charges and expenses disbursements of any counsel for to the Administrative Agent, any Lenderthe Sustainability Structuring Agent, any Swing Line Bank or any LC the Issuing Bank), Banks and the Lenders) in connection with the enforcement or and protection of its the rights (A) in connection with of the Lenders under this Agreement and Agreement, the Notes or the other Loan Documents, including its rights under this Section, or and (Bc) in connection with all reasonable and documented out-of-pocket costs and expenses of periodic audits by the Advance made or Letters Administrative Agent’s personnel of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; the Borrower’s books and records provided that so long as an Event of Default has not occurred and is continuing, the Borrower shall only be required to pay the fees and expenses for (x) only one (1) outside counsel for such audit during any year. The Borrower further agrees to indemnify the Administrative Agent, the Syndication Sustainability Structuring Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Lenders and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, each such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing BankPerson’s respective Affiliates, and each Related Party of any of the foregoing Persons such Person’s and their Affiliates’ respective directors, officers, employees, agents and advisors (each such Person being called each, an “IndemniteeIndemnified Party”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related expenses (including, without limitation, all charges and disbursements of counsel (limited to reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any a single external counsel for all Indemnified Parties, taken as a whole, and, if reasonably necessary, one local or special counsel for all Indemnified Parties, taken as a whole, in any Indemnitee)relevant jurisdiction to such Persons, incurred and in the case of an actual or perceived conflict of interest, where an Indemnified Party affected by any Indemnitee or asserted against any Indemnitee by any Person (including such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnified Party and, if reasonably necessary, of a single firm of local or the Parentspecial counsel acting in multiple jurisdictions)) other than such Indemnitee and its Related Parties which any of them may pay or incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if Borrowing hereunder, except that the documents presented in connection with such demand do foregoing indemnity shall not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating apply to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Indemnified Party to the extent that such any losses, claims, damages, liabilities or related costs and expenses etc. are determined by a court of competent jurisdiction by a final and nonappealable non-appealable judgment (1) to have resulted from the gross negligence or such Indemnified Party’s Gross Negligence, willful misconduct or a breach in bad faith of its express obligations under the Loan Documents. In the case of an investigation, litigation or proceeding to which the indemnity in this Section applies, such Indemnitee indemnity shall be effective whether or (2) to have resulted from a claim not such investigation, litigation or proceeding is brought by the Borrower or the Parent against General Partner or the Borrower’s or the General Partner’s equity holders or creditors or an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Indemnified Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityotherwise party thereto. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Unsecured Revolving Credit Agreement (First Industrial Lp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, Lead Arranger and the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Issuing Bank in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement the Loan Documents and, with respect to the Administrative Agent and the other Loan Documents (other than the Support Agreement) or Issuing Bank only, any amendments, modifications or waivers thereof, limited in each case with respect to legal counsel to the reasonable fees, charges and disbursements of a single outside counsel for all of the provisions hereof or thereof (whether or not Administrative Agent, the transactions contemplated hereby or thereby shall be consummated)Lead Arranger and the Issuing Bank taken as a whole and, if reasonably necessary, one other local counsel in each applicable jurisdiction, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket costs and expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable and documented out or invoiced out-of- pocket costs and expenses (limited in each case with respect to legal counsel to the fees, charges and disbursements of pocket expenses a single outside counsel for all of the Administrative Agent, the Issuing Bank and then Lenders taken as a whole and, if reasonably necessary, one other local counsel in each applicable jurisdiction and, in the event of a conflict of interest, one additional counsel to each group of similarly situated affected parties) incurred by the Administrative Agent, any Lender, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket costs and expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower Loan Parties shall indemnify the Administrative Agent, each Joint the Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless fromfrom and against, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket liabilities, costs and expenses (including the reasonable fees, charges and documented fees and expenses disbursements of any a single outside counsel for any Indemnitee)the Indemnitees taken as a whole and, in the event of a conflict of interest, one additional counsel to each group of similarly situated affected Indemnitees) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party, by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party or by any other Person arising out of, in connection with, of or as a result of relating to (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the BorrowerBorrower or any of Subsidiaries, the Parent or any Environmental Liability of any Loan Party or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party party, by the Borrower or any other Loan Party or by the Borrower, the Parent or any of its Subsidiariesother Person, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses (1) are determined by a court of competent jurisdiction by final and nonappealable non- appealable judgment (1) to have resulted from (x) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee or its or any of its Affiliates, officers, directors, employees, agents, advisors, members or (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and or (y2) be limited in the case of attorneys’ fees and expenses arise from any disputes solely among Indemnitees unrelated to any disputes involving, or claims against, any Loan Party (1) one (1) outside counsel for other than disputes involving the Administrative Agent, the Syndication AgentLead Arranger, the Joint Lead Arrangers, Issuing Bank or the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel Swingline Lender in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel its capacity as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimsuch). (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent Agent, the Issuing Bank or the Swingline Lender under subsection (or any sub-agent thereofa), any LC Issuing Bank(b), any Swing Line Bank or any Related Party of any of the foregoing(c) hereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable), Delayed Draw Term Loan Commitment, if applicable, and Term Loan determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower each party hereto agrees that it shall not assert, and hereby waives, any claim against any Indemniteeother party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (e) All amounts due under this Section shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages be payable promptly after written demand therefor. (as opposed f) This Section 10.3 shall apply with respect to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) Taxes only to the extent of they represent losses, claims, damages, etc., arising from any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)non-Tax claim.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Repay Holdings Corp)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Indemnified Parties on demand for any reasonable costs and reasonable out-of-pocket expenses (i) including, without limitation, all reasonable fees for consultants and documented out of pocket reasonable fees and expenses for one counsel for all Indemnified Parties collectively in each applicable jurisdiction) paid or incurred by the Indemnified Parties (whether in their capacity as arrangers, or, in the case of JPMCB in its capacity as Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), ) in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, review, amendment, modification, and administration of this Agreement the Loan Documents. The Borrower also agrees to reimburse the Indemnified Parties, the Issuing Bank and the other Loan Documents Lenders for any reasonable costs and reasonable out-of-pocket expenses (including, without limitation, all reasonable fees and expenses for attorneys for the Indemnified Parties, the Issuing Bank and the Lenders, with such fees and expenses of counsel being limited to fees and expenses of one counsel (and, if necessary, one regulatory counsel) for the Administrative Agent in each applicable jurisdiction, fees and expenses of one counsel (and, if necessary, one regulatory counsel) for the Lenders (as selected by the Required Lenders other than the Support AgreementAdministrative Agent) in each applicable jurisdiction and, to the extent an actual or perceived conflict of interest exists, the fees and expenses of one counsel (and, if necessary, one regulatory counsel) to all similarly situated Lenders in each applicable jurisdiction) paid or incurred by the Indemnified Parties (whether in their capacity as arrangers, or, in the case of JPMCB, in its capacity as Administrative Agent), the Issuing Bank or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) Lender in connection with the issuancecollection and enforcement of the Loan Documents (including, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agentwithout limitation, any Lender, any Swing Line Bank or any LC Issuing Bank (including workout). The Borrower further agrees to indemnify the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative AgentIndemnified Parties, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing BankLender and their directors, officers, employees, agents, attorneys and each Related Party of any of the foregoing Persons professional advisors (each such Person being called Person, an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the including, without limitation, reasonable and documented fees and expenses of counsel and all reasonable expenses of litigation or preparation therefor whether or not such entity is a party thereto) which any counsel for any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by Projects, the parties hereto of their respective obligations hereunder or thereunder or Loans and the consummation of the other transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Extension hereunder, (iii) any actual or alleged presence or release of Hazardous Materials materials of Environmental Concern on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or an Affiliate of the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that (i) such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, penalties, judgments, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (yii) such indemnity shall be limited in the case of attorneys’ to fees and expenses to of one counsel (1and, if necessary, one regulatory counsel) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel all Indemnitees collectively in any each applicable jurisdiction for and, to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a extent an actual or perceived conflict of interest between one or more of the Administrative Agentexists, the Syndication Agentfees and expenses of one counsel (and, the Joint Lead Arrangersif necessary, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryone regulatory counsel) to all similarly situated Indemnitees in each applicable jurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower no party hereto shall not assert, and each such party hereby waives, any claim against any Indemniteeother party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, the transactions contemplated hereby, any Loan or the use of the proceeds thereof, except, in the case of the Borrower, to the extent otherwise subject to indemnification pursuant to the indemnification provisions set forth above. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Document, Documents or the transactions contemplated hereby or thereby, any Advance unless such damages are the result of such Indemnitee’s gross negligence or Letter willful misconduct (as determined by a court of Credit, or the use competent jurisdiction in a final and non-appealable decision). The obligations of the proceeds thereof. To Borrower under this Section 10.6 shall survive the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory termination of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Revolving Credit Agreement (Duke Realty Limited Partnership/)

Expenses; Indemnification. (a) The Borrower shall pay shall, on the earlier of (i) the date of the consummation of the Acquisition and (ii) the date the Borrower notifies the Agent in writing that the Acquisition Agreement is terminated or makes a public announcement of its intention not to proceed with the Acquisition, reimburse the Agent for all reasonable and documented out out-of-pocket costs, internal charges and expenses of pocket expenses a single external counsel to the Agent (and, if reasonably necessary, a single local counsel to the Agent in each relevant material jurisdiction, which may be a single local counsel acting in multiple jurisdictions) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, review, amendment, modification, and administration of this Agreement the Loan Documents. The Borrower also agrees to reimburse the Agent, the Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, Lenders for all reasonable and documented out out-of-pocket costs, internal charges and expenses (including the fees, disbursements and other charges of pocket expenses a single external counsel for the Agent, the Arrangers and the Lenders taken as a whole and, if reasonably necessary, a single local counsel for the Agent, the Arrangers and the Lenders taken as a whole in each relevant material jurisdiction, which may be a single local counsel acting in multiple jurisdictions) paid or incurred by the Agent, any LC Issuing Bank (other than overhead expenses and other similar expenses) Arranger or any Lender in connection with the issuance, amendment, renewal or extension collection and enforcement of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any their directors, officers, advisors, trustees, partners, agents, employees and representatives of each of the foregoing Persons and their successors and permitted assigns (each such Person being called each, an “IndemniteeIndemnified Person”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees out-of-pocket expenses (including, without limitation, all reasonable and documented out-of-pocket expenses of litigation or preparation therefor, whether or not any Indemnified Person is a party thereto and whether or not such investigation, litigation or proceeding is brought by the Borrower, the Borrower’s equity holders or creditors or any other party; provided that legal expenses shall be limited to the fees, disbursements and other charges of one counsel for all Indemnified Persons taken as a whole and, if reasonably necessary, a single local counsel for all Indemnified Persons taken as a whole in each relevant material jurisdiction (which may be a single local counsel acting in multiple jurisdictions) and, solely in the case of any Indemnitee), incurred actual or reasonably perceived conflict of interest between Indemnified Persons where the Indemnified Persons affected by any Indemnitee or asserted against any Indemnitee by any Person (including such conflict inform the Borrower of such conflict, one additional counsel in each relevant material jurisdiction to each group of affected Indemnified Persons similarly situated taken as a whole) which any of them may pay or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if Advance hereunder; provided, however, that the documents presented in connection with such demand do foregoing indemnity shall not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating apply to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Indemnified Person to the extent that such losses, claims, damages, penalties, judgments, liabilities or related costs and expenses (i) are determined in a final non-appealable judgment by a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Person, (ii) arise from a material breach of the obligations of such Indemnified Person under this Agreement or any other Loan Document (as determined by a court of competent jurisdiction by in a final and nonappealable judgment non-appealable judgment), (1iii) to have resulted arise from the gross negligence any dispute that does not arise out of an act or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought omission by the Borrower or any of its affiliates and that is among Indemnified Persons, other than any claims against the Parent against an Indemnitee for breach Agent in bad faith of such Indemnitee’s obligations hereunder its capacity as, or in fulfilling its role as, Agent under any other Loan Document and this Agreement, or (yiv) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply are with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section 9.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Portland General Electric Co /Or/)

Expenses; Indemnification. (a) The Borrower shall pay reimburse (i) all the Agent for the reasonable cost of field examinations, and documented out of (ii) the Agent and the Lenders for any reasonable costs and out-of-pocket expenses (including reasonable attorneys' fees and time charges of attorneys for the Agent and the Lenders) paid or incurred by the Administrative AgentLenders in connection with the preparation, 77 84 review, execution, delivery, administration, amendment, modification, administration or syndication of this Agreement and any of the other Lender Agreements and related instruments and documents, and the Borrower shall reimburse the Agent and the Lenders for any reasonable costs and out-of-pocket expenses (including reasonable attorneys' fees and time charges of attorneys for the Agent or the Lenders) paid or incurred by any of them in connection with the collection and enforcement of this Agreement and any of the other Lender Agreements and related instruments and documents; PROVIDED, HOWEVER, that prior to the occurrence of an Event of Default hereunder, the Syndication AgentBorrower shall not be responsible for the cost of more than three (3) field examinations during any 12 month period (limited to two (2) if there has been no Advances other than Letters of Credit during such period), for the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses cost of any single field examination in excess of $10,000, or for more than one set of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Agent and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Without limitation of any other obligation or liability of the Borrower shall or right or remedy of the Agent or the Lenders contained herein, the Borrower hereby covenants and agrees to indemnify and hold the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bankthe Lenders, and each Related Party of any the shareholders, directors, agents, officers, partners, subsidiaries and affiliates of the foregoing Persons (each such Person being called an “Indemnitee”) againstAgent and the Lenders, harmless from and hold each Indemnitee harmless from, against any and all damages, losses, settlement payments, obligations, liabilities, claims, damagesincluding, liabilities without limitation, claims for finder's or broker's fees, actions or causes of action, and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee)incurred, incurred suffered, sustained or required to be paid by any Indemnitee such indemnified party in each case by reason of or asserted against resulting from any Indemnitee by any Person (including claim relating to the Borrower or the Parent) transactions contemplated hereby, other than any such Indemnitee and its Related Parties arising out of, in connection with, or claims which arise as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication AgentLenders or any such indemnified party. Promptly upon receipt by any indemnified party hereunder of notice of the commencement of any action against such indemnified party for which a claim is to be made against the Borrower hereunder, such indemnified party shall notify the Joint Lead ArrangersBorrower in writing of the commencement thereof, although the Lendersfailure to provide such notice shall not affect the indemnification rights of any such indemnified party hereunder to the extent such indemnified party demonstrates to the reasonable satisfaction of the Borrower that such failure to provide notice does not prejudice the Borrower in its defense of such claim. The Borrower shall have the right, at their option upon notice to the Swing Line Banks indemnified parties, to defend any such matter at their own expense and with their own counsel, except as provided below, which counsel must be reasonably acceptable to the LC Issuing Banksindemnified parties. The indemnified party shall cooperate with the Borrower in the defense of such matter. The indemnified party shall have the right to employ separate counsel and to participate in the defense of such matter at its own expense. In the event that (a) the employment of separate counsel by an indemnified party has been authorized in writing by the Borrower, (2b) the Borrower has failed to assume the defense of such matter within twenty (20) days of notice thereof from the indemnified party or (c) the named parties to any local and/or regulatory such action (including impleaded parties) include any indemnified party who has been advised in writing by counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between that there may be one or more of legal defenses available to it or prospective bases for liability against it, which are different from those available to or against the Administrative AgentBorrower, then the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) Borrower shall not apply with respect have the right to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To assume the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) defense of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that matter with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityparty. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower indemnified party shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).not

Appears in 1 contract

Sources: Credit Agreement (Ekco Group Inc /De/)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable, out-of-pocket costs and expenses of the Administrative Agent and its Affiliates (but limited, in the case of legal fees, charges, disbursements and expenses, to the actual reasonable and documented out out-of-pocket fees, disbursements and other charges of pocket expenses incurred by one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole and, solely in the Administrative Agentcase of an actual or potential conflict of interest, the Syndication Agent(x) one additional counsel to all affected Persons, the Joint Lead Arrangers taken as a whole, and their Affiliates (including the reasonable and documented fees and expenses of y) one additional local counsel for the Administrative Agentto all affected Persons, taken as a whole, in each relevant jurisdiction), in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lender, any Swing Line Issuing Bank or any LC Issuing Bank Lender (including but limited, in the case of legal fees, charges, disbursements and expenses, to the actual reasonable and documented fees out-of-pocket fees, disbursements and expenses other charges of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole and, solely in the case of an actual or potential conflict of interest, (x) one additional counsel for the Administrative Agentto all affected Persons, any Lendertaken as a whole, any Swing Line Bank or any LC Issuing Bank)and (y) one additional local counsel to all affected Persons, taken as a whole, in each relevant jurisdiction) in connection with the enforcement or protection of its rights (A) or remedies in connection with this Agreement and the other Loan DocumentsAgreement, including its rights and remedies under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary.. #96545445v8 (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Issuing Bank and each LC Issuing BankSwingline Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including but limited, in the case of legal fees and expenses, to the reasonable and documented fees out-of-pocket fees, disbursements and expenses other charges of one firm of outside counsel to all Indemnitees taken as a whole and, if reasonably necessary, one local counsel in any relevant jurisdiction to all Indemnitees, taken as a whole and, solely in the case of an actual or potential conflict of interest, (x) one additional counsel for any Indemnitee)to all affected Indemnitees, taken as a whole, and (y) one additional local counsel to all affected Indemnitees, taken as a whole, in each relevant jurisdiction) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials of Environmental Concern on or from any property owned or operated by the Borrower, the Parent or any of its SubsidiariesProperties, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee or Indemnitee, (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and Document, or (yz) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for any dispute solely among any Indemnitees, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, or any of their respective Related Parties (2) any local and/or regulatory counsel in any applicable jurisdiction for the other than claims against Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, or any Person or entity acting in a similar capacity acting pursuant to this Agreement or in its capacity as such) to the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one extent such disputes did not arise from any act or more omission of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryBorrower or its Affiliates. This Section 7.03(bSubsection (b) hereof shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, any Issuing Bank or the Swingline Lender under paragraph subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender▇▇▇▇▇▇’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable) determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower no party to this Agreement shall not assert, and each party to this Agreement hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided that nothing in this clause (d) shall relieve the fullest extent permitted by applicable law, no Borrower of any obligation it may have to indemnify any Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed asserted against such Indemnitee by a third party. No Indemnitee referred to direct in Section 10.3 shall be liable for any damages arising from the use by unintended recipients of any information or actual damages) arising out ofother materials distributed by it through telecommunications, electronic or other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any the other Loan Document, Documents or the transactions contemplated hereby or thereby. #96545445v8 (e) The Borrower shall not, any Advance or Letter of Credit, or without the use prior written consent of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent applicable Indemnitee, effect any settlement of any claim actual or prospective claim, litigation, investigation, arbitration or proceeding in respect of which such Indemnitee is a party and indemnity has been sought under this Section by such Indemnitee, unless such settlement (i) includes an unconditional release of such Indemnitee in form and substance reasonably satisfactory to such Indemnitee from all liability on claims that are the subject matter of such indemnity and (ii) does not include any Person other than the Borrowerstatement as to or any admission of fault, the Parent culpability or a failure to act by or on behalf of any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would injunctive relief or other non-monetary remedy. (f) All amounts due under this Section shall be covered by Section 7.03(b)payable not later than ten (10) days after a reasonably detailed written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Pure Storage, Inc.)

Expenses; Indemnification. (a) The Borrower Loan Parties shall pay (i) all reasonable and documented out documented, out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable fees, charges and documented fees and expenses disbursements of counsel for the Administrative Agent)Agent and its Affiliates, actually incurred in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated) (but limited, (A) in the case of legal fees and expenses, to the reasonable fees, disbursements and other charges of one primary counsel to the Administrative Agent and its Affiliates, taken as a whole, plus, if reasonably necessary, one local counsel in each relevant jurisdiction as may be necessary or advisable in the judgment of the Administrative Agent, and in the case of an actual conflict of interest, one additional counsel to each similarly situated group of affected Persons, taken as a whole, in each case excluding allocated costs of in-house counsel and (ii) in the case of other consultants and advisers, limited to the fees and expenses of such persons approved by Borrower, such approval not to be unreasonably withheld or delayed), (ii) without duplication of any fees separately agreed to by the Borrower[reserved], all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of out-of-pocket costs and expenses actually incurred by the Administrative Agent, any Lender, any Swing Line Bank Agent or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this SectionSection 11.3, or (B) in connection with the Advance made or Letters of Credit issued hereunderLoans made, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for Loans (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksbut limited, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (zi) in the case of legal fees and expenses, to the fees, disbursements and other charges of one primary counsel to the Administrative Agent and the Lenders, taken as a conflict of interest between whole (and, if reasonably necessary, one local counsel in each relevant jurisdiction as may be necessary or more advisable in the judgment of the Administrative Agent, and in the Syndication Agentcase of an actual conflict of interest, the Joint Lead Arrangers, the one additional counsel to each similarly situated group of affected Lenders, taken as a whole)) and (ii) in the Swing Line Banks case of other consultants and advisers, limited to the LC Issuing Banks, fees and expenses of such additional counsel as may be reasonably necessarypersons approved by Borrower). (b) The Borrower Loan Parties shall indemnify the Administrative Agent, each Joint Lead Arranger, Agent (and any sub-agent thereof) and each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities liabilities, penalties and related reasonable documented out expenses, but limited, in the case of pocket costs and expenses (including the reasonable and documented legal fees and expenses expenses, to the reasonable, documented out-of-pocket fees, charges and disbursements of one counsel to the Indemnitees taken as a whole, and, if reasonably necessary, one local counsel in each relevant jurisdiction as may be necessary or advisable in the judgment of the Administrative Agent (and, in the case of an actual conflict of interest, one additional counsel to each similarly situated group of affected Indemnitees, taken as a whole), in each case excluding allocated costs of in-house counsel, and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any counsel for any Indemnitee), actually incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) other than such Indemnitee and any of its Related Parties Subsidiaries arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit Loan or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)therefrom, (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, or any Environmental Proceeding actual or alleged Environmental Liability related in any way to the Borrower, the Parent Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent (i) that a court having competent jurisdiction shall have determined by a final judgment (not subject to further appeal) that such losses, claims, damages, liabilities or related costs expenses resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or its Related Parties, (ii) that a court having competent jurisdiction shall have determined by a final judgment (not subject to further appeal) arose from a material breach of the obligations of such Indemnitee (or any of its Related Parties) under this Agreement or any other Loan Document, (iii) arising from any dispute solely among Indemnitees other than (x) any claims against any Indemnitee in its capacity or in fulfilling its role as an Administrative Agent or Arranger under this Agreement or any Loan Document or (y) any claims that arise as a result of the Borrower’s or any other Loan Party’s negligence or breach of the terms of this Agreement or any other Loan Document or (iv) arising from settlements effected without Borrower’s prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned), but if settled with Borrower’s written consent, or if there is a final judgment against an Indemnitee in any such proceeding, Borrower shall indemnify and expenses are hold harmless each Indemnitee to the extent and in the manner set forth above. No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Syndtrak or any other Internet or intranet website, except as a result of such Indemnitee’s gross negligence or willful misconduct as determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjudgment. This Section 7.03(b11.3(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. Each Indemnitee (by accepting the benefits of the Loan Documents) agrees to refund and return any and all amounts paid by Borrower to such Indemnitee pursuant to this Section 11.3(b) or any other indemnification provision under the Loan Documents to the extent such Indemnitee is not entitled to the payment thereof pursuant to the terms of this Section 11.3(b) or such other indemnification provision. (c) Subject to Section 2.20, the Loan Parties shall pay, and hold the Administrative Agent and each of the Lenders harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein, or any payments due thereunder, and save the Administrative Agent and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. (d) To the extent that the Borrower for any reason fails Loan Parties fail to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent under clauses (or any sub-agent thereofa), any LC Issuing Bank, any Swing Line Bank (b) or any Related Party of any of the foregoing(c) hereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable lawLaw, none of the Borrower Loan Parties shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, this Agreement, Agreement or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (f) All amounts due under this Section 11.3 shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Second Lien Credit Agreement (EVO Payments, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Agents (including any of their respective Affiliates) and each Lender (including any of its respective Affiliates) for any reasonable out-of-pocket costs and expenses documented in reasonable detail (limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of (i) White & Case LLP, as counsel to the Agents (plus one firm of local counsel to the Agents in each relevant jurisdiction and one firm of conflicts counsel to the Agents if the Agents determine engaging such counsel is appropriate in their sole discretion)) and (ii) the Ad Hoc Group Advisors (plus one firm of local counsel per material jurisdiction to the Ad Hoc Group as may be reasonably necessary), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates Agents (including any of their respective Affiliates) and the reasonable and documented fees and expenses Lenders (including any of counsel for the Administrative Agent), their respective Affiliates) in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendmentsdelivery, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated)syndication, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuancereview, amendment, renewal or extension modification, and administration (including, without limitation, preparation of the reports described below) of the Loan Documents. The Company also agrees to reimburse the Agents and the Lenders for any Letter of Credit or any demand for payment thereunder and (iii) all documented out of reasonable out-of-pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) limited in the case of a conflict legal fees and expenses, to the reasonable fees, charges and disbursements of interest between (i) White & Case LLP, as counsel to the Agents (plus one or more firm of local counsel to the Administrative Agent, Agents in each relevant jurisdiction and one firm of conflicts counsel to the Syndication Agent, Agents if the Joint Lead Arrangers, Agents determine engaging such counsel is appropriate in their sole discretion) and (ii) ▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP (plus one firm of local counsel per material jurisdiction to the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel Ad Hoc Group as may be reasonably necessary)) paid or incurred by the Agents or any Lender in connection with the collection and enforcement of the Loan Documents. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative AgentAgents, each Joint Lead Arranger, Lender and the respective Related Parties of each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) fees and expenses (including but limited in the case of fees and expenses, to the reasonable fees, charges and documented fees disbursements of (i) White & Case LLP, as counsel to the Agents (plus one firm of local counsel to the Agents in each relevant jurisdiction and expenses one firm of conflicts counsel to the Agents if the Agents determine engaging such counsel is appropriate in their sole discretion) and (ii) the Ad Hoc Group Advisors (plus one firm of local counsel per material jurisdiction to the Ad Hoc Group as may be reasonably necessary)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of the Transactions, including, without limitation, (i) the execution or delivery of this Agreementfinancings contemplated thereby, any other Loan Document or any agreement transactions connected therewith (including the Transactions) or instrument contemplated hereby any claim, litigation, investigation or therebyproceeding (regardless of whether any such Indemnitee is a party thereto and regardless of whether such claim, the performance litigation, investigation or proceeding is brought by a third party or by the parties hereto Company or any of their respective obligations hereunder or thereunder or its Subsidiaries) to the consummation extent related to any of the transactions contemplated hereby or thereby, foregoing and (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Substances at any real property or from any property owned facility currently or formerly owned, leased or operated by the Borrower, the Parent Company or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent Company or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities or and related costs expenses to the extent they (a) are found in a final and expenses are determined by non-appealable judgment of a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the willful misconduct or gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith any of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksits Related Parties, (2b) [reserved] or (c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facility and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out-of-pocket expenses incurred by the Administrative AgentAgent or any Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one primary counsel for the Administrative AgentAgent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any actual or potential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesLoans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To No Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Credit Agreement (Piedmont Natural Gas Co Inc)

Expenses; Indemnification. (a) The Borrower shall pay reimburse (i) all reasonable and documented out out-of-pocket expenses of the Administrative Agent and the Lead Arranger (including due diligence expenses, syndication expenses, travel expenses and reasonable fees, charges and disbursements of one firm of counsel for the Administrative Agent and the Lead Arranger (and if reasonably necessary, one local counsel in any relevant jurisdiction) and, solely in the case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in any relevant jurisdiction)) incurred in connection with the preparation of this Agreement and any related documentation or the administration, amendment, modification or waiver hereof or thereof and (ii) if an Event of Default occurs, all reasonable and documented out-of-pocket expenses incurred by the Administrative AgentAgent and each Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one firm of counsel for (and if reasonably necessary, one local counsel in any relevant jurisdiction) and, solely in the Administrative Agent)case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesrelevant jurisdiction) in connection with the issuancesuch Event of Default and collection, amendmentbankruptcy, renewal or extension of any Letter of Credit or any demand for payment thereunder insolvency and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the other enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, and hold harmless each Lender, each Swing Line Bank the Administrative Agent and each LC Issuing Bankof their respective affiliates and their respective officers, directors, employees, advisors, and each Related Party of any of the foregoing Persons agents (each such Person being called each, an “IndemniteeIndemnified Person”) against, from and hold each Indemnitee harmless from, against any and all losses, claims, damages, damages and liabilities and related reasonable documented (including Environmental Liabilities) to which any such Indemnified Person may become subject arising out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) with the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Loans hereunder or any of its Subsidiaries, related transaction or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, regardless of whether based on contract, tort or any other theory, Indemnified Person is a party thereto and regardless of whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiariesaffiliates (any of the foregoing, a “Proceeding”), and regardless of whether to reimburse each Indemnified Person upon demand for any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feeslegal or other expenses incurred in connection with investigating or defending any of the foregoing; provided that such (i) the foregoing indemnity shall (x) will not, as to any IndemniteeIndemnified Person, be available apply to the extent that such losses, claims, damages, liabilities or related costs and expenses (A) to the extent they are determined found by a final, non-appealable judgment of a court of competent jurisdiction by final and nonappealable judgment to arise from the bad faith, willful misconduct or gross negligence of such Indemnified Person or any of its Related Persons, (1B) to have resulted the extent resulting from any Proceeding that does not involve an act or omission of the Borrower and its Consolidated Subsidiaries or any of their respective affiliates and that is brought by an Indemnified Person solely against another Indemnified Person, other than claims against any Lender or the Lead Arranger or the Administrative Agent in its capacity in fulfilling its role as an agent or arranger under the Loan Documents, in each case as found by a final, non-appealable judgment of a court of competent jurisdiction or (C) to the extent resulting from a material breach by such Indemnified Person or any Related Person thereof of its obligations under the Loan Documents as found by a final, non-appealable judgment of a court of competent jurisdiction. No Indemnified Person shall be liable for any damages arising from the use by others of information or other materials obtained through electronic, telecommunications or other information transmission systems (other than for direct or actual damages resulting from the bad faith, gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank Indemnified Person or any Related Party of any of the foregoing, each Lender severally agrees to pay Person thereof to the Administrative Agent (or any such subextent found by a final non-agentappealable judgment of a court of competent jurisdiction), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time it being understood that the applicable unreimbursed expense use of electronic telecommunications or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitmentsother information transmission systems will not itself constitute bad faith, gross negligence or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders willful misconduct. No Indemnified Person shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or liable for any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection withwith the Loan Documents. For purposes hereof, a “Related Person” of an Indemnified Person means (a) any controlling person, controlled affiliate or as subsidiary of such Indemnified Person, (b) the respective directors, officers or employees of such Indemnified Person or any of its subsidiaries, controlled affiliates or controlling persons and (c) the respective agents and advisors of such Indemnified Person or any of its subsidiaries, controlled affiliates or controlling persons; provided, that each reference to a result ofcontrolled affiliate, controlling person, director, officer or employee in this Agreementsentence pertains to a controlled affiliate, any other Loan Documentcontrolling person, director, officer or employee involved in the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use negotiation of the proceeds thereofLoan Documents. To The Borrower shall not be liable to the fullest extent permitted by applicable lawAdministrative Agent, no Indemnitee shall assert, and each Indemnitee hereby waives, Lead Arranger or any claim against the Borrower, on Indemnified Person for any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other with the Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereofDocuments; provided that this waiver sentence shall in no way not limit the Borrower’s indemnification obligations as set forth in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)this paragraph.

Appears in 1 contract

Sources: Credit Agreement (Johnson Controls International PLC)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of one special counsel for the Administrative Agent, in connection with the preparation of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default with respect to the Borrower hereunder and (ii) if an Event of Default with respect to the Borrower occurs, all reasonable out-of-pocket expenses incurred by the Administrative AgentAgent or any Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one primary counsel for the Administrative AgentAgent and the Lenders (and (x) if necessary, a single firm of local counsel to the Administrative Agent and the Lenders in each appropriate jurisdiction and (y) solely in the case of any actual or potential conflict of interest, one additional counsel in each relevant jurisdiction to the affected Persons similarly situated), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing Bank, Lender and each the respective Related Party of any Parties of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claimspenalties, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of one counsel for all Indemnitees taken as a whole and, in the case of any Indemnitee)actual or potential conflict of interest, one additional counsel to each group of affected Indemnitees similarly situated taken as a whole, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesLoans hereunder; provided that no Indemnitee shall have the right to be indemnified hereunder for such indemnity shall (x) not, Indemnitee’s own gross negligence or willful misconduct as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjurisdiction. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Loan or the use of the proceeds thereof. To No Indemnitee referred to in (b) above shall be liable for any damages arising from the fullest extent permitted use by applicable lawunintended recipients of any information or other materials distributed by it through telecommunications, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential electronic or punitive damages (as opposed to direct or actual damages) arising out of, other information transmission systems in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Credit Agreement (Duke Energy CORP)

Expenses; Indemnification. (a) The Borrower shall pay (i) To induce the Citi to issue this Commitment Letter, you hereby agree that all reasonable reasonable, out-of-pocket fees and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel (but limited, in the case of fees and expenses of counsel, to one counsel for the Administrative AgentCiti and, if determined by Citi to be reasonably necessary, of one local counsel in any relevant jurisdiction), ) of Citi and any of its affiliates arising in connection with the syndication of the credit facility evidenced by this Agreement, any New Bank Facility and the preparation, negotiation, execution, delivery and administration enforcement of this Agreement Commitment Letter, the Fee Letter and the other Loan Documents definitive documentation for any New Bank Facility (other than the Support Agreementincluding in connection with Citi’s due diligence and syndication efforts) shall be for your account (and that you shall from time to time upon request by Citi reimburse it and its affiliates for all such fees and expenses paid or any amendmentsincurred by them), modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby Transactions are consummated or thereby shall be consummatedany New Bank Facility is made available or the definitive documentation for any New Bank Facility is executed. You further agree to indemnify and hold harmless Citi (whether in its capacity as an agent, arranger, Lender or otherwise) and each other agent or co-agent (if any) designated by the Arranger (as reasonably agreed by you) with respect to any New Bank Facility and their respective affiliates and each director, officer, employee, representative, member, partner, trustee and agent thereof (each, an “Indemnified Person”) from and against any and all actions, suits, proceedings (including any investigations or inquiries), (ii) without duplication of any fees separately agreed to by the Borrowerclaims, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuancelosses, amendmentdamages, renewal liabilities or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any kind or nature whatsoever that may be incurred by or asserted against or involve any Indemnified Person as a result of or arising out of or in any way related to or resulting from the Transactions, this Commitment Letter or the Fee Letter, any New Bank Facility and the actual or proposed use of the proceeds thereof and any related transaction and, upon demand, to pay and reimburse each Indemnified Person for any reasonable legal or other out-of-pocket expenses (but limited, in the case of legal fees and expenses, to one counsel for the Administrative Agentsuch Indemnified Persons taken as a whole and, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) solely in the case of a conflict of interest between (as reasonably determined by the affected Indemnified Persons), one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for all affected Indemnified Persons (or similarly situated affected Indemnified Persons), in either case taken as may a whole (and, if determined by us to be reasonably necessary. , of one local counsel in any relevant jurisdiction for all such Indemnified Persons, taken as a whole, and, solely in the case of a conflict of interest (b) The Borrower shall indemnify as reasonably determined by the Administrative Agentaffected Indemnified Persons), each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing one additional local counsel for all affected Indemnified Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemniteeor similarly affected Indemnified Persons), in either case taken as a whole)) paid or incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection withwith investigating, defending or as a result of (i) the execution or delivery of this Agreementpreparing to defend any such action, any other Loan Document or any agreement or instrument contemplated hereby or therebysuit, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom proceeding (including any refusal by inquiry or investigation) or claim (whether or not any LC Issuing Bank Indemnified Person is a party to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)any action, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation suit or proceeding relating to (including any inquiry or investigation) out of the foregoing, whether based on contract, tort which any such expenses arise or any other theory, whether brought such matter is initiated by a third party or by the Borrower, the Parent you or any of its Subsidiariesyour affiliates); provided, and regardless of whether however, that (i) you shall not have to indemnify any Indemnitee is a party theretoIndemnified Person against any loss, claim, damage, expense or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available liability to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have same resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnified Person (2as determined by a court of competent jurisdiction in a final and nonappealable judgment), (ii) each Indemnified Person shall consult with the Borrower from time to have resulted from a claim brought by time at the reasonable request of the Borrower regarding the conduct of the defense in any such proceeding (other than in respect of proceedings in which the Borrower or the Parent against an Indemnitee for breach in bad faith any of its affiliates is a party adverse to such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative AgentIndemnified Person), the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent provided that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party failure of any of the foregoing, each Lender severally agrees Indemnified Party to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that so consult with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assertrelieve you of your obligations under this Commitment Letter (including under this Section 7), and hereby waives(iii) each Indemnified Person that proposes to settle or compromise any claim, litigation, investigation or proceeding for which you may be liable for payment of indemnity hereunder shall obtain the Borrower’s consent (not to be unreasonably withheld, delayed or conditioned) to such settlement or compromise. Neither CGMI, Citi nor any other Indemnified Person shall be responsible or liable to you or any other person or entity for any damages arising from the use by others of information or other materials obtained through electronic, telecommunications or other information transmission systems. Except to the extent you may be so responsible or liable pursuant to your obligations under this Section 7, no party hereto, nor any of their respective affiliates or their or their affiliates’ directors, officers, employees, representatives, members, partners, trustees or agents, shall be responsible or liable for any indirect, special, exemplary, incidental, punitive or consequential damages (including, without limitation, any claim against any Indemniteeloss of profits, on any theory of liability, for special, indirect, consequential business or punitive damages (as opposed to direct or actual damagesanticipated savings) arising out of, in connection with, or that may be alleged as a result ofof the Transactions, this AgreementCommitment Letter, the Fee Letter, any other Loan Document, New Bank Facility and the transactions contemplated hereby actual or thereby, any Advance or Letter of Credit, or the proposed use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, thereof and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)related transaction.

Appears in 1 contract

Sources: Commitment Letter (TE Connectivity Ltd.)

Expenses; Indemnification. (a) The Borrower Loan Parties shall pay (i) all reasonable and documented out documented, out-of-pocket costs and expenses of pocket expenses incurred by the Administrative Agent▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, the Syndication Agent, the Joint Lead Arrangers ▇▇▇▇ and their Affiliates (Affiliates, including the reasonable fees, charges and documented fees and expenses disbursements of counsel for the Administrative Agent)▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ and their Affiliates, actually incurred in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated) (but limited, (A) in the case of legal fees and expenses, to the reasonable fees, disbursements and other charges of one primary counsel to the ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ and their Affiliates, taken as a whole, plus, if reasonably necessary, one local counsel in each relevant jurisdiction as may be necessary or advisable in the judgment of the Administrative Agent, and in the case of an actual conflict of interest, one additional counsel to each similarly situated group of affected Persons, taken as a whole, in each case excluding allocated costs of in-house counsel and (ii) in the case of other consultants and advisers, limited to the fees and expenses of such persons approved by Borrower, such approval not to be unreasonably withheld or delayed), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of out-of-pocket costs and expenses actually incurred by the Administrative Agent, any Lender, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this SectionSection 11.3, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that Credit (but limited, (i) in the Borrower shall only be required to pay the case of legal fees and expenses for (x) expenses, to the fees, disbursements and other charges of one (1) outside primary counsel for to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Issuing Lender and the Lenders, the Swing Line Banks and the LC Issuing Bankstaken as a whole (and, (y) any if reasonably necessary, one local and/or regulatory counsel in any applicable each relevant jurisdiction for as may be necessary or advisable in the judgment of the Administrative Agent, and in the Syndication Agentcase of an actual conflict of interest, the Joint Lead Arrangers, the one additional counsel to each similarly situated group of affected Lenders, the Swing Line Banks and the LC Issuing Banks taken as a whole)) and (zii) in the case of a conflict other consultants and advisers, limited to the fees and expenses of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarypersons approved by Borrower). (b) The Borrower Loan Parties shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities liabilities, penalties and related reasonable documented out expenses, but limited, in the case of pocket costs and expenses (including the reasonable and documented legal fees and expenses expenses, to the reasonable, documented out-of-pocket fees, charges and disbursements of one counsel to the Indemnitees taken as a whole, and, if reasonably necessary, one local counsel in each relevant jurisdiction as may be necessary or advisable in the judgment of the Administrative Agent (and, in the case of an actual conflict of interest, one additional counsel to each similarly situated group of affected Indemnitees, taken as a whole), in each case excluding allocated costs of in-house counsel, and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any counsel for any Indemnitee), actually incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) other than such Indemnitee and any of its Related Parties Subsidiaries arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, or any Environmental Proceeding actual or alleged Environmental Liability related in any way to the Borrower, the Parent Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent (i) that a court having competent jurisdiction shall have determined by a final judgment (not subject to further appeal) that such losses, claims, damages, liabilities or related costs expenses resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or its Related Parties, (ii) that a court having competent jurisdiction shall have determined by a final judgment (not subject to further appeal) arose from a material breach of the obligations of such Indemnitee (or any of its Related Parties) under this Agreement or any other Loan Document, (iii) arising from any dispute solely among Indemnitees other than (x) any claims against any Indemnitee in its capacity or in fulfilling its role as an Administrative Agent, Arranger or Issuing Bank under this Agreement or any Loan Document or (y) any claims that arise as a result of the Borrower’s or any other Loan Party’s negligence or breach of the terms of this Agreement or any other Loan Document or (iv) arising from settlements effected without Borrower’s prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned), but if settled with Borrower’s written consent, or if there is a final judgment against an Indemnitee in any such proceeding, Borrower shall indemnify and expenses are hold harmless each Indemnitee to the extent and in the manner set forth above. No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Syndtrak or any other Internet or intranet website, except as a result of such Indemnitee’s gross negligence or willful misconduct as determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryjudgment. This Section 7.03(b11.3(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. Each Indemnitee (by accepting the benefits of the Loan Documents) agrees to refund and return any and all amounts paid by Borrower to such Indemnitee pursuant to this Section 11.3(b) or any other indemnification provision under the Loan Documents to the extent such Indemnitee is not entitled to the payment thereof pursuant to the terms of this Section 11.3(b) or such other indemnification provision. (c) Subject to Section 2.20, the Loan Parties shall pay, and hold the Administrative Agent, the Issuing Bank and each of the Lenders harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein, or any payments due thereunder, and save the Administrative Agent, the Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. (d) To the extent that the Borrower for any reason fails Loan Parties fail to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph clauses (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable lawLaw, none of the Borrower Loan Parties shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, this Agreement, Agreement or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (f) All amounts due under this Section 11.3 shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: First Lien Credit Agreement (EVO Payments, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) reimburse the Administrative Agent and each Arranger upon demand for all reasonable and documented out of pocket expenses paid or incurred by the Administrative Agent or such Arranger, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable and documented fees, charges and disbursements of one primary outside counsel and any special or local counsel to and/or the allocated costs of in-house counsel of the Administrative Agent and the Arrangers incurred from time to time, in connection with the due diligence, preparation, administration, negotiation, execution, delivery, syndication, distribution (including, without limitation, via DebtX and any other internet service selected by the Administrative Agent), review, amendment, modification, and administration of the Loan Documents. The Borrower also agrees to reimburse the Administrative Agent, the Syndication AgentArrangers, the Joint Lead Arrangers LC Issuers and their Affiliates the Lenders for any costs, internal charges and out-of-pocket expenses, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable fees, charges and disbursements of outside counsel (including which, in the case of legal counsel, shall be limited to the reasonable fees, charges and documented fees disbursements of (i) one primary counsel and expenses of any special and local counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents Lenders (other than including the Support AgreementLC Issuers and the Swing Line Lender) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) without duplication in the event of any fees separately agreed actual or potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Lenders (including the LC Issuers or the Swing Line Lender, if similarly situated)) to by the BorrowerAdministrative Agent, all reasonable the Arrangers, the LC Issuers and documented out the Lenders and/or the allocated costs of pocket expenses in-house counsel incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuancefrom time to time, amendment, renewal paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any LenderArranger, any Swing Line Bank LC Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights . Expenses being reimbursed by the Borrower under this SectionSection 9.6(a) include, or (B) without limitation, reasonable and documented costs and expenses incurred in connection with the Advance made Reports described in the following sentence. The Borrower acknowledges that from time to time U.S. Bank may prepare and may distribute to the Lenders (but shall have no obligation or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring duty to prepare or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, distribute to the Lenders, ) certain audit reports (the Swing Line Banks and “Reports”) pertaining to the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower’s assets for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one internal use by U.S. Bank from information furnished to it by or more on behalf of the Administrative AgentBorrower, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryafter U.S. Bank has exercised its rights of inspection pursuant to this Agreement. (b) The Borrower shall hereby further agrees to indemnify and hold harmless the Administrative Agent, each Joint Lead Arranger, each LC Issuer, the Swing Line Lender, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any of the foregoing Persons their directors, officers and employees, agents and advisors (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including including, without limitation, reasonable attorneys’ fees (which, in the case of legal counsel, shall be limited to the reasonable fees, charges and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result disbursements of (i) one primary counsel and any special and local counsel for the execution Administrative Agent and the Lenders (including the LC Issuers and the Swing Line Lender) and (ii) in the event of any actual or delivery potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Lenders (including the LC Issuers and the Swing Line Lender, if similarly situated)), charges and disbursements and settlement costs (including, without limitation, all reasonable and documented expenses of litigation or preparation therefor) whether or not the Administrative Agent, any Arranger, any LC Issuer, any Lender or any affiliate is a party thereto) which any such Indemnitee may pay or incur arising out of or relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or therebyhereby, (ii) any Advance or Letter of Credit or the use or proposed Borrower’s use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)loan proceeds, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property Property owned or operated by the BorrowerBorrower or any of its Subsidiaries, the Parent any environmental liability related in any way to Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby direct or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to indirect application or proposed application of the proceeds of any Indemnitee, be available Credit Extension hereunder except to the extent that such losses, claims, damages, liabilities or related costs and expenses they are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the applicable Indemnitee. The obligations of the Borrower or under this Section 9.6 shall survive the Parent against an Indemnitee for breach in bad faith termination of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarythis Agreement. This Section 7.03(b9.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Extra Space Storage Inc.)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the Administrative Agentevent of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryfor each person or group of persons subject to such conflict). (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Bank, and each their respective Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, any Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) the direct or indirect application or proposed application of the proceeds of any Advance Loan or Facility Letter of Credit or the use or proposed use of the proceeds therefrom (hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ (except the Administrative Agent in its capacity as such) obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Agent or any Issuing Banks, (2) any local and/or regulatory counsel Bank in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all The Company will reimburse the Nantahala Board Representative for their reasonable and documented out of out-of-pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication travel to or from and attendance at each meeting of the credit facility evidenced by this AgreementBoard of Directors and the committees thereof. In addition, the preparationNantahala Board Representative will be entitled to compensation in accordance with the Company’s non-employee director compensation policy, negotiationas in effect from time to time. (ii) The Nantahala Board Representative shall be entitled to indemnification by the Company to the maximum extent permitted by applicable law and the Company’s governing documents and shall enter into the Company’s standard form of indemnification agreement with its executive officers and directors, executionas may be amended from time to time. The Company hereby acknowledges that the Nantahala Board Representative may have certain rights to indemnification, delivery advancement of expenses and/or insurance provided by NCM or certain of its affiliates (collectively, the “Nantahala Indemnitors”), and administration agrees that the liability of this Agreement the Company in respect of its obligations to the Nantahala Board Representative in respect of indemnification, expense advancement, amounts paid in compromise or settlement, and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers obligations of the provisions hereof Company pursuant to such indemnification agreement or thereof (whether similar or not related obligation of the transactions contemplated hereby or thereby Company shall be consummated)primary, (ii) without duplication regard to any advancement or payment by any Nantahala Indemnitor on behalf of any fees separately agreed to Nantahala Board Representative. Without limitation by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contractthe Company hereby irrevocably waives, tort relinquishes and releases the Nantahala Indemnitors from any and all claims against any of them for contribution, subrogation or any other theory, whether brought by a third party recovery of any kind in respect of any Company obligation to the Nantahala Board Representative under any indemnification agreement or similar or related obligation of the Company. In no case shall the terms of any agreement with the Company entered into by the BorrowerNantahala Board Representative be deemed to terminate, amend, modify or replace the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) terms of this Section 5.1(d)(ii) unless the Nantahala Board Representative explicitly consents to be paid such termination, amendment, modification or replacement by it specific reference to this Section 5.1(d)(ii). The Company agrees that the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any Nantahala Indemnitors are express third party beneficiaries of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as terms of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c5.1(d)(ii). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Securities Purchase Agreement (Talphera, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Agents, the Arranger and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative AgentAgents, the Syndication Agent, the Joint Lead Arrangers Arranger and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement the Loan Documents shall be limited to a single counsel and a single #96212676v31 local counsel in each relevant jurisdiction). The Borrower also agrees to reimburse the Agents and the other Loan Documents (other than the Support Agreement) or Lenders for any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of out-of-pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ legal fees and expenses expenses, to (1) the fees, charges and disbursements of one (1) outside firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the Administrative Agentforegoing collectively, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) plus in the case of a an actual or perceived conflict of interest between one or more of where the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, person affected by such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for any reason fails to indefeasibly pay any amount required under paragraph such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (awhich may include a single firm of special counsel acting in multiple jurisdictions) for such affected person) paid or (b) of this Section to be paid incurred by it to the Administrative Agent (Agents or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations the collection and enforcement of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c)Loan Documents. (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all The Company will reimburse the CorMedix Board Representative for their reasonable and documented out of out-of-pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication travel to or from and attendance at each meeting of the credit facility evidenced by this AgreementBoard of Directors and the committees thereof. In addition, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall CorMedix Board Representative will be consummated), (ii) without duplication of any fees separately agreed entitled to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) compensation in connection accordance with the issuanceCompany’s non-employee director compensation policy, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), as in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Crediteffect from time to time; provided that the Borrower Company shall only cooperate to the fullest extent possible with any transfer or assignment to CorMedix or its designee of any compensation, whether in cash, securities, or other property, which the CorMedix Board Representative is entitled to receive from the Company for serving on the board of directors, if so required by any CorMedix policy or agreement applicable to the CorMedix Board Representative. (ii) The CorMedix Board Representative shall be required entitled to pay indemnification by the fees and expenses for (x) one (1) outside counsel for Company to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks maximum extent permitted by applicable law and the LC Issuing BanksCompany’s governing documents and shall enter into the Company’s standard form of indemnification agreement with its executive officers and directors, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. amended from time to time, on terms at least as favorable to the CorMedix Board Representative as those then provided by the Company to any other member of the board of directors. The Company hereby acknowledges that the CorMedix Board Representative may have certain rights to indemnification, advancement of expenses and/or insurance provided by NCM or certain of its affiliates (b) The Borrower shall indemnify collectively, the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank“CorMedix Indemnitors”), and each Related Party agrees that the liability of the Company in respect of its obligations to the CorMedix Board Representative in respect of indemnification, expense advancement, amounts paid in compromise or settlement, and the other obligations of the Company pursuant to such indemnification agreement or similar or related obligation of the Company shall be primary, without regard to any advancement or payment by any CorMedix Indemnitor on behalf of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred CorMedix Board Representative. Without limitation by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contractthe Company hereby irrevocably waives, tort relinquishes and releases the CorMedix Indemnitors from any and all claims against any of them for contribution, subrogation or any other theory, whether brought by a third party recovery of any kind in respect of any Company obligation to the CorMedix Board Representative under any indemnification agreement or similar or related obligation of the Company. In no case shall the terms of any agreement with the Company entered into by the BorrowerCorMedix Board Representative be deemed to terminate, amend, modify or replace the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) terms of this Section 5.1(c)(ii) unless the CorMedix Board Representative explicitly consents to be paid such termination, amendment, modification or replacement by it specific reference to this Section 5.1(c)(ii). The Company agrees that the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any CorMedix Indemnitors are express third party beneficiaries of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as terms of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c5.1(c)(ii). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Securities Purchase Agreement (Talphera, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reimburse the Administrative Agent and the Arrangers for any reasonable costs, internal charges and documented out of out-of-pocket expenses (including reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent and the Arrangers and (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent or Citigroup in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel for the Administrative AgentAgent and, if applicable, one legal counsel for the Lenders plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the event of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryfor each person or group of persons subject to such conflict). (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, Arranger and each Lender, each Swing Line Bank their respective Affiliates, directors, officers and each LC Issuing Bank, and each Related Party of any of the foregoing Persons employees (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, either Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) the direct or indirect application or proposed application of the proceeds of any Advance Loan or Facility Letter of Credit or the use or proposed use of the proceeds therefrom (hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Agent or any Issuing Banks, (2) any local and/or regulatory counsel Bank in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers Inc)

Expenses; Indemnification. (a) The Borrower Borrowers shall pay reimburse (i) the Agent on demand for all reasonable out- of-pocket costs, expenses, and documented out charges (including fees and charges of pocket expenses external legal counsel for the Agent and costs allocated by its internal legal department) incurred by the Administrative AgentAgent in connection with the preparation, performance, or administration of this Agreement or the Syndication AgentNotes and (ii) the Agent and the Banks on demand for all costs, the Joint Lead Arrangers expenses, and their Affiliates charges (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), counsel) in connection with the syndication enforcement of the credit facility evidenced by this Agreement, PROVIDED that the preparation, negotiation, execution, delivery Borrowers shall not be required to reimburse the Agent for the fees and administration charges of the Agent's external legal counsel that exceed $50,000 in connection with the preparation of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Facility Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall Borrowers agree to indemnify the Administrative Agent, Agent and each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, of such Persons' respective affiliates and controlling persons and each Related Party of any of the foregoing Persons their respective shareholders, directors, officers, employees, attorneys and agents (each such Person being called an “Indemnitee”"Indemnified Person") againstfrom, and hold each Indemnitee of them harmless fromagainst, any and all losses, liabilities, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses damages (including the reasonable and documented fees and consequential damages) or expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, them arising out of or by reason of or in connection with any way connected with the Advances, investigation or litigation or other proceedings (including any threatened investigation or litigation or other proceedings) arising out of or relating to this Agreement, Agreement or any other Loan Document, Facility Document or any documents contemplated actual or proposed use by the Company or referred to herein or therein or any Subsidiary of the transactions contemplated hereby or therebyproceeds of the Loans, including the reasonable fees and documented attorneys’ fees; provided that disbursements of counsel incurred in connection with any such indemnity shall investigation or litigation or other proceedings (x) not, as to but excluding any Indemnitee, be available to the extent that such losses, liabilities, claims, damages, liabilities damages or related costs and expenses that are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower applicable Indemnified Person or the Parent against an Indemnitee for intentional breach by a Bank or the Agent of its agreement to make Loans or issue a letter of credit in bad faith accordance with the terms of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimthis Agreement). (c) To The Borrowers agree to indemnify, hold harmless and defend each Indemnified Person or any of them from and against any and all claims, losses, damages, response costs, clean-up costs and expenses arising out of or in any way relating to the extent that existence of Hazardous Substances over, beneath, in or upon any real property owned or leased by the Borrower Company or any Subsidiary or a breach of the representations, warranties, covenants and agreements set forth in this Agreement, or any violation of any Environmental Laws or any allegations arising out of any violation of any Environmental Laws, including: (i) claims of third parties (including agencies) for damages, penalties, response costs, clean-up costs, injunctive or other relief; (ii) costs and expenses of removal and restoration, including reasonable fees of attorneys and experts, and costs of reporting the existence of Hazardous Substances to any reason fails to indefeasibly pay governmental body, and (iii) any amount required under paragraph (a) and all reasonable expenses or (b) obligations incurred at, before and after any trial or appeal therefrom whether or not taxable as costs, including witness fees deposition costs, copying and telephone charges, and reasonable attorneys' fees, all of this Section to which shall be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c)Company when incurred. (d) To Each of the fullest extent permitted by applicable law, the Borrower shall not assert, and Borrowers hereby waives, waives any claim right it may have to seek consequential damages against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, Indemnified Person in connection with, with this Agreement or as a result of, this Agreement, any other Loan Document, Facility Document or any of the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Macdermid Inc)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedlimited to a single counsel and a single local counsel in each relevant jurisdiction), (ii) without duplication of any fees separately agreed to by the Borrower, as well as all reasonable out-of-pocket costs and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Issuers in connection with the issuance, amendment, renewal or extension of any Letter Facility Letters of Credit or any demand for payment thereunder thereunder. The Company also agrees to reimburse the Administrative Agent, the Issuers and the Lenders for any reasonable out-of- pocket costs and expenses (iiilimited in the case of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) all documented out of pocket expenses for such affected person) paid or incurred by the Administrative Agent, any Lender, any Swing Line Bank Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents. The Company also agrees to reimburse each of the Initial TLA-1 Principal Lenders for any reasonable and documented out- of-pocket costs and expenses (including, including its rights under this Sectionwithout limitation, the reasonable and documented fees, expenses and disbursements of Stroock & Stroock & ▇▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and ▇▇▇▇, Weiss, Rifkind, ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, as counsel to an Initial TLA-1 Principal Lender, and any reasonably necessary local or (Bforeign counsel and other professional advisors, of any Initial TLA-1 Principal Lender) in connection with the Advance made or Letters of Credit issued hereunderSixth Amendment, including all such out actions and investigations undertaken in accordance with the terms of pocket expenses incurred during any workout, restructuring or negotiations the Sixth Amendment in respect of such Advances or Letters the provision of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel additional Collateral in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more respect of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryObligations. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, the Issuers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facilities and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian, the Securities Intermediary and their Affiliates (including the each Lender, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent), the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationLoan Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank Agent and any Lender (other than overhead expenses but limited, in the case of legal fees and other similar expenses) in connection with , to the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder reasonable and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank or any LC Issuing Bankin each case, a single additional firm of counsel in each relevant jurisdiction for all similarly situated affected Persons), including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for any Indemniteeall similarly situated affected Indemnitees), which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) any of the execution transactions contemplated by the Loan Documents or the execution, delivery or performance of this Agreementany Loan Document, (ii) the grant to the Collateral Agent, the Lenders of any other Lien, on the Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or covenant contained in any Loan Document or any agreement document relating to any Collateral or instrument contemplated hereby (vi) any loss arising from any action or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation inaction of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteedecision. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b) 12.3 shall not apply with respect to Taxes Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Blue Owl Technology Finance Corp.)

Expenses; Indemnification. (ai) The Borrower shall pay (i) all agrees to reimburse the Agent for any reasonable and documented out of out-of-pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of one counsel for to the Administrative Agent), ) paid or incurred by the Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery syndication, distribution and administration of this Agreement the Loan Documents, any waiver or consent hereunder or any amendment hereof. The Borrower agrees to reimburse the Agent and the other Loan Documents Lenders for any reasonable and documented out-of-pocket expenses (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby which shall be consummatedlimited, in the case of counsel fees and expenses, to the reasonable and documented fees, disbursements and other charges of (x) one counsel to the Administrative Agent (and one local counsel to the Administrative Agent in each relevant jurisdiction), (iiy) without duplication one counsel to all of any fees separately agreed the other Lenders taken as a whole (and one local counsel to the Lenders in each relevant jurisdiction) and (z) solely in the event of an actual or perceived conflict of interest (as reasonably determined by the BorrowerAdministrative Agent or the applicable Lender(s)), all reasonable one additional counsel (and documented out one local counsel in each relevant jurisdiction) for each group of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensessimilarly affected Lenders taken as a whole) in connection with the issuance, amendment, renewal paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank Agent or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (bii) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Agent and each LC Issuing BankLender and their respective affiliates, directors, officers, agents and each Related Party of any of the foregoing Persons employees (each such Person being called an “Indemnitee”) against, from and hold each Indemnitee of them harmless from, against any and all losses, liabilities, claims, damages, liabilities and related reasonable documented out of pocket costs and or expenses (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of any (x) one counsel for any Indemniteeto the Administrative Agent and its affiliated Indemnitees (and one local counsel to the Administrative Agent in each relevant jurisdiction), (y) one counsel to the other Indemnitees taken as a whole (and one local counsel to such Indemnitees in each relevant jurisdiction) and (z) solely in the event of an actual or perceived conflict of interest (as reasonably determined by the applicable Indemnitee(s)), one additional counsel (and one local counsel in each relevant jurisdiction) for each group of similarly affected Indemnitees taken as a whole) reasonably incurred by any Indemnitee of them (except to the extent any of the foregoing is found in a final judgment by a court of competent jurisdiction to have arisen or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of resulted from (i) the gross negligence, bad faith or willful misconduct of any Indemnitee or any Related Indemnified Person of such Indemnitee, (ii) a material breach of the express obligations of any Indemnitee or any Related Indemnified Person thereof under the Loan Documents, or (iii) any claim, litigation, investigation or proceeding (except to the extent involving any act or omission by the Borrower or any of its Subsidiaries or Affiliates) brought by any Indemnitee against any other Indemnitee or any Related Indemnified Person of any Indemnitee (other than claims against any Indemnitee or any of its Related Indemnified Persons in its capacity or in fulfilling its role as an agent, arranger, bookrunner or any similar role with respect to this Agreement)) arising out of or by reason of any investigation by governmental or judicial authorities or being made a party to any litigation or other similar proceeding related to (a) the execution or and delivery of this Agreement, any other of the Loan Document Documents or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (iib) any Advance or Letter of Credit or use by the use or proposed use Borrower of the proceeds therefrom (including of any refusal by Loan for the acquisition of any LC Issuing Bank to honor a demand for payment under a Letter other Person, including, without limitation, the reasonable fees, time charges and expenses of Credit if the documents presented outside counsel incurred in connection with any such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any proceeding. As used in this Section 9.15(ii), “Related Indemnified Person” of an Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment means (1) to have resulted from any Controlling Person or Controlled Affiliate of such Indemnitee, (2) the gross negligence respective directors, officers or willful misconduct employees of such Indemnitee or any of its Controlling Persons or Controlled Affiliates and (23) to have resulted from a claim brought by the Borrower respective agents, advisors or the Parent against an Indemnitee for breach in bad faith representatives of such Indemnitee’s obligations hereunder Indemnitee or under any other Loan Document and (y) be limited of its Controlling Persons or Controlled Affiliates, in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).clause

Appears in 1 contract

Sources: 364 Day Credit Agreement (General Dynamics Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees fees, charges and expenses disbursements of counsel for the Administrative Agent)Agent and its Affiliates, in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery administration and administration enforcement of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including the reasonable and documented fees, charges and disbursements of counsel for the Administrative Agent and its Affiliates, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) not in limitation of the obligations under clauses (i) and (ii) above, all reasonable and documented out out-of-pocket costs and expenses (including, without limitation, the reasonable and documented fees, charges and disbursements of pocket expenses outside counsel and consultants) incurred by the Administrative Agent, any Lenderthe Sole Arranger, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided provided, that the Borrower shall only be required to pay the fees fees, charges and expenses for (x) one (1) disbursements of outside counsel for paid under this clause (iii) shall be limited to the reasonable and documented fees, charges and disbursements of one outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one outside counsel to the Lenders, the Swing Line Banks and the LC Issuing Bankstaken as a whole, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agentand, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) solely in the case of a an actual or perceived conflict of interest between interest, one or more additional outside counsel to all affected persons taken as a whole, and, if necessary, of one local outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one local outside counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Swing Line Banks Administrative Agent and Lenders and, solely in the LC Issuing Bankscase of an actual or perceived conflict of interest, such one additional outside local counsel to all affected persons, taken as may be reasonably necessarya whole. (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead the Sole Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Document, or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the BorrowerParent, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s funding obligations hereunder or under any (z) a proceeding brought by an Indemnitee against another Indemnitee (other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for than a proceeding brought by an Indemnitee against the Administrative Agent, the Syndication Issuing Bank, the Swingline Lender, or any other agent, in each case in its capacity as Administrative Agent, Issuing Bank, Swingline Lender, or other agent, as applicable). No Indemnitee shall be liable for any damages arising from the Joint Lead Arrangersuse by others of any information or other materials obtained through Syndtrak, the LendersIntralinks or any other Internet or intranet website, the Swing Line Banks except as a result of such Indemnitee’s gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and the LC Issuing Banksnon-appealable judgment. (c) The Borrower shall pay, (2) any local and/or regulatory counsel in any applicable jurisdiction for and hold the Administrative Agent, the Syndication AgentIssuing Bank and each of the Lenders harmless from and against, the Joint Lead Arrangersany and all present and future stamp, the Lendersdocumentary, the Swing Line Banks and the LC Issuing Banks other similar taxes with respect to this Agreement and (3) in the case of a conflict of interest between one any other Loan Documents, any collateral described therein or more of any payments due thereunder, and save the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Issuing Bank and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply each Lender harmless from and against any and all liabilities with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising or resulting from any non-Tax claimdelay or omission to pay such taxes. (cd) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph subsection (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable) and Loans determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable law, neither Parent nor the Borrower shall not assert, and each of Parent and the Borrower hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided that nothing in this clause (e) shall relieve the fullest extent permitted by applicable law, no Borrower of any obligation it may have to indemnify any Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. (as opposed to direct or actual damagesf) arising out of, in connection with, or as a result of, All amounts due under this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver Section shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (LendingTree, Inc.)

Expenses; Indemnification. Subject to the provisions of this Agreement, the Borrower will pay (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers Sustainability Structuring Agent and their Affiliates each Arranger (including the reasonable and documented fees legal fees, out-of-pocket costs and other reasonable expenses of counsel for the Administrative Agent and the Sustainability Structuring Agent), ) in connection with the syndication preparation, execution and delivery of the credit facility evidenced by this Agreement, the preparationNotes, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers hereto or thereto; provided that payments in respect of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby legal fees and expenses shall be consummatedlimited to reasonable and documented costs and expenses of a single external counsel to the Administrative Agent, the Sustainability Structuring Agent and each Arranger and their respective Affiliates and, if reasonably necessary, one local or special counsel in any relevant jurisdiction to such Persons (and, in the case of an actual or perceived conflict of interest where the Person affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Person, and, if reasonably necessary, of a single firm of local or special counsel acting in multiple jurisdictions), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iiib) all documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank the Sustainability Structuring Agent and the Lenders (including the documented fees fees, charges and expenses disbursements of any counsel for to the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), the Sustainability Structuring Agent and the Lenders) in connection with the enforcement or and protection of its the rights (A) in connection with of the Lenders under this Agreement and Agreement, the Notes or the other Loan Documents, including its rights under this Section, or and (Bc) in connection with all reasonable and documented out-of-pocket costs and expenses of periodic audits by the Advance made or Letters Administrative Agent’s personnel of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; the Borrower’s books and records provided that so long as an Event of Default has not occurred and is continuing, the Borrower shall only be required to pay the fees and expenses for (x) only one (1) outside counsel for such audit during any year. The Borrower further agrees to indemnify the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Sustainability Structuring Agent and the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, each such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing BankPerson’s respective Affiliates, and each Related Party of any of the foregoing Persons such Person’s and their Affiliates’ respective directors, officers, employees, agents and advisors (each such Person being called each, an “IndemniteeIndemnified Party”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related expenses (including, without limitation, all charges and disbursements of counsel (limited to reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any a single external counsel for all Indemnified Parties, taken as a whole, and, if reasonably necessary, one local or special counsel for all Indemnified Parties, taken as a whole, in any Indemnitee)relevant jurisdiction to such Persons, incurred and in the case of an actual or perceived conflict of interest, where an Indemnified Party affected by any Indemnitee or asserted against any Indemnitee by any Person (including such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnified Party and, if reasonably necessary, of a single firm of local or the Parentspecial counsel acting in multiple jurisdictions)) other than such Indemnitee and its Related Parties which any of them may pay or incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if Borrowing hereunder, except that the documents presented in connection with such demand do foregoing indemnity shall not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating apply to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Indemnified Party to the extent that such any losses, claims, damages, liabilities or related costs and expenses etc. are determined by a court of competent jurisdiction by a final and nonappealable non-appealable judgment (1) to have resulted from the gross negligence or such Indemnified Party’s Gross Negligence, willful misconduct or a breach in bad faith of its express obligations under the Loan Documents. In the case of an investigation, litigation or proceeding to which the indemnity in this Section applies, such Indemnitee indemnity shall be effective whether or (2) to have resulted from a claim not such investigation, litigation or proceeding is brought by the Borrower or the Parent against General Partner or the Borrower’s or the General Partner’s equity holders or creditors or an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Indemnified Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityotherwise party thereto. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Unsecured Term Loan Agreement (First Industrial Lp)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the Administrative Agentevent of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryfor each person or group of persons subject to such conflict). (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead the Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Bank, and each their respective Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, the Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (of any Loan hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger or the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel Agent in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Swingline Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Swingline Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance Loan made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Swingline Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Swingline Banks and the LC Issuing Banks and (z) in the case of a an actual or potential conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksinterest, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Swingline Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the AdvancesLoans, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document Document, (y) not be available for any claim, litigation, loss or proceeding that is brought by an Indemnified Person against another Indemnified Person not arising from or in connection with any action or omission of the Borrower, the Parent or any of their respective Subsidiaries or Affiliates (other than against any of the Joint Lead Arrangers, the Administrative Agent or the Co-Documentation Agents in their capacities as such) and (yz) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Swingline Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Swingline Banks and the LC Issuing Banks and (3) in the case of a an actual or potential conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksinterest, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Swingline Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Swingline Bank or such Related Party, as the case may be, such Lender▇▇▇▇▇▇’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the AdvancesLoans, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Swingline Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Swingline Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Swingline Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance Loan or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance Loan or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (American Water Works Company, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of any counsel, limited to (x) one counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person the Agents (including the Borrower or the Parent) other than such Indemnitee plus one local counsel in each applicable jurisdiction and its Related Parties arising out of, one specialty counsel in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Crediteach applicable specialty), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, Lenders (2) any plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agentand one specialty counsel in each applicable specialty), the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3z) in the case of a an actual conflict of interest interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any investigative, administrative or judicial proceeding relating to or arising out of this Agreement or any actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the right to be indemnified hereunder (i) to the extent such indemnification relates to relationships of, between one or more of the Administrative Agentamong each of, or any of, the Syndication AgentAgents, the Joint Lead ArrangersLenders or any Eligible Assignee or Participant or (ii) for such Indemnitee’s or any of its Related Persons’ gross negligence, bad faith or willful misconduct or the Lendersmaterial breach by such Indemnitee or any of its Related Persons of their obligations (if any) under this Agreement, the Swing Line Banks as determined by a final and the LC Issuing Banks, such additional counsel as may be reasonably necessarynon-appealable judgment of a court of competent jurisdiction. This Section 7.03(b) shall not apply with respect to any Indemnified Taxes, Other Taxes other than any Taxes that represent lossesor Excluded Taxes, claims, damages, etc. arising from any non-Tax claimwhich shall be covered solely by Section 8.03. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, none of the Borrower Company, the Agents and the Lenders shall not assert, and each of the Company, the Agents and the Lenders hereby waives, and acknowledges that no other Person shall have, any claim against the Company, any Indemnitee or any Indemnitee’s Related Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or therebyhereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that nothing contained in this waiver Section 9.04(c) shall in no way limit the BorrowerCompany’s indemnification indemnity or reimbursement obligations set forth in Section 7.03(b9.04(b) to the extent of such special, indirect, consequential or punitive damages are included in any third party claim by any Person other than the Borrower, the Parent or any in connection with which such Indemnitee or its Indemnitee’s Related Parties for any of the foregoing Person is entitled to the extent such claim would be covered by Section 7.03(b)indemnification hereunder.

Appears in 1 contract

Sources: Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay pay, subject to and in accordance with the Priority of Payments (except as otherwise provided herein pursuant to Section 8.2(d) and on the Initial Borrowing Date), (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents and the Securities Intermediary (subject to the cap (if any) set forth in the related engagement letters with such parties and the Borrower), the Syndication Agentincluding, the Joint Lead Arrangers and their Affiliates (including the without limitation, reasonable and documented fees and expenses disbursements of counsel for the Administrative Agent)counsel, agents and experts in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationLoan Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof any Default hereunder; provided that such reimbursement under this subclause (whether or not a)(i) of fees and disbursements of counsel to the transactions contemplated hereby or thereby Administrative Agent incurred up to and including the Closing Date shall be consummated), subject to the limitation on fees and disbursements of outside counsel to the Administrative Agent set forth in the related engagement letter and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses disbursements of any one counsel for the Administrative AgentAgent and one counsel for U.S. Bank Trust Company, any LenderNational Association and U.S. Bank National Association (provided that (1) the Administrative Agent shall be entitled to reimbursement for a single counsel (plus one local counsel in each applicable jurisdiction if necessary)) and (2) U.S. Bank Trust Company, any Swing Line National Association and U.S. Bank or any LC Issuing BankNational Association shall be entitled to reimbursement for a single counsel (plus one local counsel in each applicable jurisdiction if necessary), in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Securities Intermediary, the Document Custodian, the Securities Intermediary, the Collateral Manager and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and expenses disbursements of any counsel for any Indemnitee)counsel, which may be incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)any investigative, (iii) any actual administrative or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other judicial proceeding (whether or any not such Indemnitee is shall be designated a party thereto) and whether brought by or involving any party to the prosecution and defense thereofLoan Documents or any third party that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee (“Indemnified Amounts”) as a result of, or arising out of of, or in any way connected with related to or by reason of, (i) any of the Advancestransactions contemplated by the Loan Documents or the execution, this Agreement, delivery or performance of any other Loan Document, or the enforcement of any documents contemplated provision hereunder or thereunder, (ii) the grant to the Secured Parties of any Lien, on the Collateral, (iii) the exercise by the Secured Parties of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or referred covenant contained in any Loan Document or any document relating to herein any Collateral or therein (vi) any loss arising from any action or inaction of the transactions contemplated hereby Borrower or thereby, including reasonable and documented attorneys’ fees; provided that any of its Affiliates regarding the administration of any Collateral or otherwise relating to such indemnity shall Collateral (xother than an Obligor’s financial inability to make payments with respect to any such Collateral) notbut excluding, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence, willful misconduct or reckless disregard of the duties of such Indemnitee as finally determined by a court of competent jurisdiction by final jurisdiction. The amounts owed to the Indemnitees hereunder shall be payable subject to and nonappealable judgment (1) to have resulted from in accordance with the gross negligence or willful misconduct Priority of such Indemnitee or (2) to have resulted from a claim brought by Payments and the Borrower or the Parent against an Indemnitee for breach in bad faith other terms of such Indemniteethis Agreement. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in the case of a conflict of interest between one resignation or more removal of the Administrative AgentAgents. For the sake of clarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b12.3(b) shall not apply impose any indemnification or similar obligation on the Borrower with respect to Taxes taxes, other than any Taxes taxes that represent losses, claims, damages, etc. ., arising from any a non-Tax tax claim. (c) To The Borrower shall pay, and hold the Agents, the Collateral Administrator and the Securities Intermediary and each of the Lenders harmless from and against, any and all present and future U.S. stamp, recording, transfer and other similar foreclosure related taxes with respect to the foregoing matters in this Section 12.3 and hold the Agents and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission (other than to the extent attributable to such Lender) to pay such taxes. For the avoidance of doubt, any amounts paid pursuant to this Section 12.3(c) shall not be duplicative of amounts paid pursuant to Section 5.26 or Section 11.4. If the Borrower has made any indemnity payment pursuant to this Section 12.3 and the recipient thereof later collects any payments from others (including insurance companies) in respect of such amounts, then the recipient shall repay to the Borrower an amount equal to the amount it has collected from others in respect of such amounts net of the recipient’s expenses in collecting such payments and only to the extent that the Borrower for any reason fails recipient remains fully indemnified after giving effect to indefeasibly pay any amount required under paragraph (a) or (b) of such repayment to the Borrower. All payments pursuant to this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time12.3(c) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to and in accordance with the provisions Priority of Section 2.21(c)Payments. (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (AB Private Credit Investors Corp)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, of this Agreement or as a result any actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the right to be indemnified hereunder (i) to the execution extent such indemnification relates to relationships of, between or delivery of this Agreementamong each of, any other Loan Document or any agreement or instrument contemplated hereby or therebyof, the performance by Agents, the parties hereto of their respective obligations hereunder Lenders or thereunder any Eligible Assignee or the consummation of the transactions contemplated hereby or therebyParticipant, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Indemnitee’s or any of its SubsidiariesRelated Persons’ gross negligence, bad faith or any Environmental Proceeding willful misconduct or Environmental Liability related in any way to the Borrower, the Parent material breach by such Indemnitee or any of its Subsidiaries, Related Persons of their obligations (ivif any) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, under this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a final and non-appealable judgment of a court of competent jurisdiction or (iii) for any settlement entered into by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee without the Company’s written consent (not to be unreasonably withheld, conditioned or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarydelayed). This Section 7.03(b) shall not apply with respect to any Indemnified Taxes, Other Taxes other than any Taxes that represent lossesor Excluded Taxes, claims, damages, etc. arising from any non-Tax claimwhich shall be covered solely by Section 8.03. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, none of the Borrower Company, the Agents and the Lenders shall not assert, and each of the Company, the Agents and the Lenders hereby waives, and acknowledges that no other Person shall have, any claim against the Company, any Indemnitee or any Indemnitee’s Related Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or therebyhereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that nothing contained in this waiver Section 9.04(c) shall in no way limit the BorrowerCompany’s indemnification indemnity or reimbursement obligations set forth in Section 7.03(b9.04(b) to the extent of such special, indirect, consequential or punitive damages are included in any third party claim by any Person other than the Borrower, the Parent or any in connection with which such Indemnitee or its Indemnitee’s Related Parties for any Person is entitled to indemnification hereunder. (d) All payments of fees and expenses and reimbursements by the foregoing Company pursuant to this Section 9.04 shall be made not later than 30 days (or during an Event of Default, not later than 10 Business Days) following receipt by the extent Company from the applicable Agent or Lender of an invoice setting forth in reasonable detail such claim would amounts to be covered by Section 7.03(b).paid,

Appears in 1 contract

Sources: Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reimburse the Administrative Agent for any reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket expenses incurred by third-party consultants, limited to reasonable fees for consultants engaged, unless an Unmatured Default or Default exists at the time of such engagement, with the consent of the Borrower (such consent not to be unreasonably conditioned, withheld or delayed) and in the case of counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the limited to reasonable and documented fees and expenses of for one external counsel for the Administrative Agent), ) paid or incurred by the Administrative Agent in connection with the syndication amendment or modification of the credit facility evidenced by this Agreement, Loan Documents. The Borrower also agrees to reimburse the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or Administrative Agent for any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket counsel, limited to reasonable fees and expenses for one external counsel for the Administrative Agent and the Lenders, taken as a whole, and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests, one additional counsel for each group of such similarly affected Persons) paid or incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Administrative Agent in connection with the issuancecollection and enforcement of the Loan Documents (including, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agentwithout limitation, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bankworkout), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) . The Borrower shall further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Banktheir Affiliates, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) againsttheir respective directors, officers and hold each Indemnitee harmless from, any and employees against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including but, in the case of counsel to such indemnified persons, limited to reasonable and documented fees out-of-pocket fees, and expenses for one external counsel to such indemnified parties (and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests among the indemnified parties, one additional counsel for any Indemniteeeach group of such similarly affected Persons), incurred by and all other reasonable and documented out-of-pocket expenses of litigation or preparation therefor whether or not the Administrative Agent, or any Indemnitee Lender is a party thereto) which any of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of Projects, the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Loan hereunder, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available except to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court any of competent jurisdiction by final and nonappealable judgment the foregoing arise (1a) to have resulted from out of the gross negligence or willful misconduct of such Indemnitee the party seeking indemnification therefor or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of any Affiliate of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) party or (b) from claims of this Section to be paid by it to an indemnified party against any Affiliate of such indemnified party or (c) from internal disputes among the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of and the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, (x) the Borrower shall not assert, and hereby waives, any claim against any Indemniteeof the foregoing indemnified parties, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof. To thereof and (y) the fullest extent permitted by applicable law, no Indemnitee Administrative Agent and the Lenders shall not assert, and each Indemnitee hereby waiveswaive, any claim against any of the BorrowerBorrower and any other Loan Party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof; provided that this waiver shall in no way limit . The obligations of the Borrower’s indemnification obligations in Section 7.03(b) Borrower to the extent Administrative Agent and the Lenders under this Section shall survive the termination of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay pay: (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable fees, charges and documented fees and expenses disbursements of counsel for the Administrative AgentAgent and its Affiliates (which shall be limited, in the case of legal fees and expenses, to the fees, charges and disbursements of one counsel to the Administrative Agent and one counsel to the Lenders, taken as a whole, and, solely in the case of an actual or perceived conflict of interest, one additional counsel to all affected persons taken as a whole, and, if necessary, of one local counsel to the Administrative Agent and one local counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Administrative Agent and Lenders and, solely in the case of an actual or perceived conflict of interest, one additional local counsel to all affected persons, taken as a whole), in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including, but not limited to, all out-of-pocket expenses of the Administrative Agent and its Affiliates in connection with periodic field audits, appraisals, and other inspections described in Section 6.9, plus out-of-pocket expenses for each field audit, appraisal, or other inspection of a Credit Party or any Subsidiary of a Credit Party performed by personnel employed or engaged by the Administrative Agent and its Affiliates. (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and thereunder; and (iii) all documented out out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of pocket expenses counsel) incurred by the Administrative Agent, any Lender, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower Credit (which shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agentlimited, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict legal fees and expenses, to the fees, charges and disbursements of interest between one or more of counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one counsel to the Lenders, taken as a whole, and, solely in the Swing Line Banks and the LC Issuing Bankscase of an actual or perceived conflict of interest, such one additional counsel to all affected persons taken as may be reasonably a whole, and, if necessary, of one local counsel to the Administrative Agent and one local counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Administrative Agent and Lenders and, solely in the case of an actual or perceived conflict of interest, one additional local counsel to all affected persons, taken as a whole). (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable fees, charges and documented fees and expenses disbursements of any counsel (other than in-house counsel) for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the third party or by any Borrower or the Parent) any other than such Indemnitee and its Related Parties Credit Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document, any Bank Products Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent any Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent any Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent any Borrower or any of its Subsidiariesother Credit Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses (1) are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (a) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee, or (b) any material breach of the obligations of such Indemnitee under this Agreement or any other Loan Document or (2) to have resulted arise out of or result from a claim any dispute among Indemnitees that does not involve or arise from an act or omission by any Credit Party or any of their respective Affiliates and is brought by the Borrower or the Parent an Indemintee against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and Indemnitee (yother than (x) be limited any claims against the Administrative Agent or its Affiliates in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for their respective capacities as the Administrative Agent, the Syndication AgentSole Lead Arranger or any similar role unless such claim would otherwise be excluded pursuant to subclause (a) above). No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Syndtrak, Intralinks or any other Internet or intranet website, except as a result of such Indemnitee’s gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable judgment. The Borrower shall not, without the Joint Lead Arrangersprior written consent of any Indemnitee, effect any settlement of any pending or threatened proceeding in respect of which such Indemnitee is a party and indemnity has been sought hereunder by such Indemnitee, unless such settlement includes an unconditional release of such Indemnitee from all liability on claims that are the Lenderssubject matter of such indemnity. For the avoidance of doubt, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b10.2(b) shall not apply with respect to Taxes other than any Taxes that represent liabilities, obligations, losses, claims, damages, etc. ., arising from any with respect to a non-Tax claim. (c) The Borrower shall pay, and hold the Administrative Agent, the Issuing Bank and each of the Lenders harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein or any payments due thereunder, and save the Administrative Agent, the Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. (d) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swing Bank under paragraph subsection (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swing Bank, as the case may be, such Lender’s Pro Rata Share pro rata share (determined in accordance with its respective Aggregate Commitment Ratio as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such the Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable lawApplicable Law, the Borrower no Indemnitee or Credit Party shall not assert, and each Indemnitee and Credit Party hereby waives, any claim against any IndemniteeIndemnitee or Credit Party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided, however, that nothing herein shall limit or otherwise impair any indemnification or reimbursement obligations of the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, Credit Parties in respect of any claim against the Borrower, on any theory of liability, for third-party claims alleging such special, indirect, punitive, exemplary or consequential or punitive damages damages. (as opposed to direct or actual damagesf) arising out of, All amounts due under this Section shall be payable promptly (and in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(bevent with five (5) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)Business Days) after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Installed Building Products, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a an actual or potential conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksinterest, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document Document, (y) not be available for any claim, litigation, loss or proceeding that is brought by an Indemnified Person against another Indemnified Person not arising from or in connection with any action or omission of the Borrower, the Parent or any of their respective Subsidiaries or Affiliates (other than against any of the Joint Lead Arrangers, the Administrative Agent or the Co-Documentation Agents in their capacities as such) and (yz) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a an actual or potential conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksinterest, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (American Water Works Company, Inc.)

Expenses; Indemnification. (a) The Principal Borrower shall pay reimburse (i) all reasonable and documented out out-of-pocket expenses of the Administrative Agent and each Lead Arranger (including due diligence expenses, syndication expenses, travel expenses and reasonable fees, charges and disbursements of one firm of counsel for the Administrative Agent and the Lead Arrangers (and if reasonably necessary, one local counsel in any relevant jurisdiction) and, solely in the case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in any relevant jurisdiction)) incurred in connection with the preparation of this Agreement and any related documentation or the administration, amendment, modification or waiver hereof or thereof and (ii) if an Event of Default occurs, all reasonable and documented out-of-pocket expenses incurred by the Administrative AgentAgent and each Lender, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of one firm of counsel for (and if reasonably necessary, one local counsel in any relevant jurisdiction) and, solely in the Administrative Agent)case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesrelevant jurisdiction) in connection with the issuancesuch Event of Default and collection, amendmentbankruptcy, renewal or extension of any Letter of Credit or any demand for payment thereunder insolvency and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the other enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Principal Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, and hold harmless each Lender, each Swing Line Bank Issuing Lender, the Administrative Agent and each LC Issuing Bankof their respective affiliates and their respective officers, directors, employees, advisors, and each Related Party of any of the foregoing Persons agents (each such Person being called each, an “IndemniteeIndemnified Person”) against, from and hold each Indemnitee harmless from, against any and all losses, claims, damages, damages and liabilities and related reasonable documented (including Environmental Liabilities) to which any such Indemnified Person may become subject arising out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) with the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Loans and Letters of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent hereunder or any of its Subsidiaries, related transaction or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, regardless of whether based on contract, tort or any other theory, Indemnified Person is a party thereto and regardless of whether brought by a third party or by the Borrower, the Parent or any of its Subsidiariesaffiliates (any of the foregoing, a “Proceeding”), and regardless of whether to reimburse each Indemnified Person upon demand for any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feeslegal or other expenses incurred in connection with investigating or defending any of the foregoing; provided that such (i) the foregoing indemnity shall (x) will not, as to any IndemniteeIndemnified Person, be available apply to the extent that such losses, claims, damages, liabilities or related costs and expenses (A) to the extent they are determined found by a final, non-appealable judgment of a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted arise from the bad faith, willful misconduct or gross negligence or willful misconduct of such Indemnitee Indemnified Person or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith any of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banksits Related Persons, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(bB) to the extent resulting from any Proceeding that does not involve an act or omission of the Parent and its Consolidated Subsidiaries (prior to the Merger), JCI and its Consolidated Subsidiaries (prior to the Merger), the Combined Companies or any claim of their respective affiliates and that is brought by any an Indemnified Person solely against another Indemnified Person, other than claims against any Lender or Lead Arranger in its capacity in fulfilling its role as an agent or arranger under the BorrowerLoan Documents, the Parent in each case as found by a final, non-appealable judgment of a court of competent jurisdiction or any Indemnitee or its Related Parties for any of the foregoing (C) to the extent resulting from a material breach by such claim would be covered by Section 7.03(b).Indemnified Person

Appears in 1 contract

Sources: Credit Agreement (Johnson Controls Inc)

Expenses; Indemnification. Subject to the provisions of this Agreement, the Borrower will pay (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, the Syndication Agent, Sustainability Structuring Agent and each Arranger and any Related Party of any of the Joint Lead Arrangers and their Affiliates foregoing (including the reasonable and documented fees legal fees, out-of-pocket costs and other reasonable expenses of counsel for the Administrative Agent and the Sustainability Structuring Agent), ) in connection with the syndication preparation, execution and delivery of the credit facility evidenced by this Agreement, the preparationNotes, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers hereto or thereto; provided that payments in respect of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby legal fees and expenses shall be consummatedlimited to reasonable and documented costs and expenses of a single external counsel to the Administrative Agent, the Sustainability Structuring Agent and each Arranger and their respective AffiliatesRelated Parties and, if reasonably necessary, one local or special counsel in any relevant jurisdiction to such Persons (and, in the case of an actual or perceived conflict of interest where the Person affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Person, and, if reasonably necessary, of a single firm of local or special counsel acting in multiple jurisdictions), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iiib) all documented out of out-of-pocket costs and expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank the Sustainability Structuring Agent and the Lenders (including the documented fees fees, charges and expenses disbursements of any counsel for to the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), the Sustainability Structuring Agent and the Lenders) in connection with the enforcement or and protection of its the rights (A) in connection with of the Lenders under this Agreement and Agreement, the Notes or the other Loan Documents, including its rights under this Section, or and (Bc) in connection with all reasonable and documented out-of-pocket costs and expenses of periodic audits by the Advance made or Letters Administrative Agent’s personnel of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; the Borrower’s books and records provided that so long as an Event of Default has not occurred and is continuing, the Borrower shall only be required to pay the fees and expenses for (x) only one (1) outside counsel for such audit during any year. The Borrower further agrees to indemnify the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Sustainability Structuring Agent and the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, each such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing BankPerson’s respective Affiliates, and each Related Party of any of the foregoing Persons such Person’s and their Affiliates’ respective directors, officers, employees, agents and advisors (each such Person being called each, an “IndemniteeIndemnified Party”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related expenses (including, without limitation, all charges and disbursements of counsel (limited to reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any a single external counsel for all Indemnified Parties, taken as a whole, and, if reasonably necessary, one local or special counsel for all Indemnified Parties, taken as a whole, in any Indemnitee)relevant jurisdiction to such Persons, incurred and in the case of an actual or perceived conflict of interest, where an Indemnified Party affected by any Indemnitee or asserted against any Indemnitee by any Person (including such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnified Party and, if reasonably necessary, of a single firm of local or the Parentspecial counsel acting in multiple jurisdictions)) other than such Indemnitee and its Related Parties which any of them may pay or incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if Borrowing hereunder, except that the documents presented in connection with such demand do foregoing indemnity shall not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating apply to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Indemnified Party to the extent that such any losses, claims, damages, liabilities or related costs and expenses etc. are determined by a court of competent jurisdiction by a final and nonappealable non-appealable judgment (1) to have resulted from the gross negligence or such Indemnified Party’s Gross Negligence, willful misconduct or a breach in bad faith of its express obligations under the Loan Documents. In the case of an investigation, litigation or proceeding to which the indemnity in this Section applies, such Indemnitee indemnity shall be effective whether or (2) to have resulted from a claim not such investigation, litigation or proceeding is brought by the Borrower or the Parent against General Partner or the Borrower’s or the General Partner’s equity holders or creditors or an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Indemnified Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityotherwise party thereto. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Unsecured Term Loan Agreement (First Industrial Lp)

Expenses; Indemnification. (a) The Borrower Borrowers shall pay jointly and severally reimburse the Administrative Agent and Lead Arrangers for any reasonable out-of-pocket costs and expenses (iincluding fees, disbursements and other charges of one (subject to a good faith determination by an affected party that additional counsel is required for conflicts reasons) all reasonable primary counsel and documented out of pocket expenses one (subject to a good faith determination by an affected party that additional counsel is required for conflicts reasons) local counsel in such relevant jurisdictions engaged by primary counsel) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Agent and Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, distribution (including via the internet), review, amendment, modification, and administration of this Agreement the Loan Documents. The Borrowers also jointly and severally agree to reimburse the Administrative Agent, WFS, JPMorgan, the Lenders, the Swingline Lender and the other Loan Documents Issuers for any out-of-pocket costs and expenses (other than the Support Agreement) or any amendmentsincluding fees, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses disbursements and other similar expensescharges of attorneys for the Administrative Agent, WFS, JPMorgan, the Lenders, the Swingline Lender and the Issuers) in connection with the issuance, amendment, renewal paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any LenderWFS, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative AgentJPMorgan, any Lender, any Swing Line Bank the Swingline Lender or any LC Issuing Bank), Issuer in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall Borrowers hereby further jointly and severally agree to indemnify the Administrative Agent, each Joint Lead ArrangerWFS, JPMorgan, each Lender, each Swing Line Bank the Swingline Lender and each LC Issuing BankIssuer and their respective Affiliates, and each of their Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and Parties against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and all expenses of litigation or preparation therefor whether or not the Administrative Agent, WFS, JPMorgan, any counsel for Lender, the Swingline Lender, any Indemnitee), incurred by Issuer or any Indemnitee Affiliate is a party thereto) which any of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom of any Credit Extension hereunder (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available except to the extent that such losses, claims, damages, liabilities resulting from (i) the gross negligence or related costs and expenses are willful misconduct of the party seeking indemnification as determined in a final non-appealable judgment by a court of competent jurisdiction or (ii) disputes among indemnified parties not involving (A) an act or omission (or alleged act or omission) of the Company or any of its Affiliates or (B) acts or omissions of an indemnified party in its capacity as Administrative Agent or Lead Arranger except, with respect to clause (B), to the extent such acts or omissions are determined in a final non-appealable judgment by final and nonappealable judgment (1) a court of competent jurisdiction to have resulted from constituted the gross negligence or willful misconduct of such Indemnitee or indemnified party in such capacity). The obligations of the Borrowers under this Section 9.6 (2i) to have resulted from a claim brought by shall survive the Borrower or the Parent against an Indemnitee for breach in bad faith termination of such Indemnitee’s obligations hereunder or under any other Loan Document this Agreement and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(bii) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. losses or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Long Term Credit Agreement (Bemis Co Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether Whether or not the transactions contemplated hereby or thereby shall be consummated), the Company shall pay, and save Prudential, each Purchaser and any Transferee harmless against liability for the payment of, all reasonable out-of-pocket expenses arising in connection with such transactions, including (i) (A) all stamp and documentary taxes and similar charges, (B) costs of obtaining a private placement number for the Notes and (C) reasonable fees and expenses of brokers, agents, dealers, investment banks or other intermediaries or placement agents, in each case as a result of the execution and delivery of this Agreement or the issuance of the Notes; (ii) without reasonable document production and duplication of any fees separately agreed to by charges and the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any special counsel engaged by such Purchaser or such Transferee, but limited to those reasonable fees and expenses of (a) one primary counsel, (b) to extent reasonably required, one local counsel in each relevant jurisdiction and one regulatory counsel and (c) in the case of any actual or potential conflict of interest, one additional external counsel (and if necessary, one additional local counsel in each relevant jurisdiction and one regulatory counsel) for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank)each group of similarly affected Persons, in connection with the enforcement or protection of its rights (A) this Agreement and the transactions contemplated hereby and (B) any subsequent proposed waiver, amendment or modification of, or proposed consent under, this Agreement, whether or not such the proposed action shall be effected or granted; (iii) the reasonable costs and expenses, including attorneys’ and financial advisory fees, incurred by such Purchaser or such Transferee in enforcing (or determining whether or how to enforce) any rights under this Agreement or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement and or the other Loan Documentstransactions contemplated hereby or by reason of such Purchaser’s or such Transferee’s having acquired any Note, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket without limitation costs and expenses incurred during in any workout, restructuring or negotiations renegotiation proceeding or bankruptcy case; and (iv) any judgment, liability, claim, order, decree, cost, fee, expense, action or obligation resulting from the consummation of the transactions contemplated hereby, including the use of the proceeds of the Notes by the Company. The Company will promptly pay or reimburse each Purchaser or holder of a Note (upon demand, in respect of accordance with each such Advances Purchaser’s or Letters of Credit; provided that the Borrower shall only be required to pay the holder’s written instructions) for all reasonable fees and expenses for (x) one (1) outside counsel for costs paid or payable by such Purchaser or holder to the Administrative AgentSVO in connection with the initial filing of this Agreement and all related documents and financial information, and all subsequent annual and interim filings of documents and financial information related to this Agreement, with the Syndication Agent, SVO or any successor organization acceding to the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more authority thereof. The Company shall indemnify each holder of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Notes and each LC Issuing Bank, and each of its Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, penalties, liabilities and related reasonable and documented out of (in summary form) out-of-pocket costs and expenses (expenses, including the reasonable fees, charges and documented fees disbursements of (a) one counsel engaged by any Indemnitee and expenses the holders of Notes collectively, (b) to extent reasonably required, one local counsel in each relevant jurisdiction and one regulatory counsel engaged by any Indemnitee and the holders of Notes collectively and (c) in the case of any actual or potential conflict of interest, one additional external counsel (and if necessary, one additional local counsel in each relevant jurisdiction and one regulatory counsel) for any Indemnitee)each group of similarly affected Indemnitee and holders of Notes collectively, incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any the Notes, the other Loan Document Note Documents or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder under the Notes, the other Note Documents, or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit Notes or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)thereof, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Company or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent Company or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Company or any of its Subsidiariesthe Company’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, penalties, liabilities or related costs and expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted primarily from the (i) gross negligence negligence, bad faith or willful misconduct of such Indemnitee or (2ii) to have a material breach by such Indemnitee of its material obligations under this Agreement, or (y) resulted from a claim brought dispute solely among Indemnitees that does not involve an act or omission by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative AgentCompany, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (Guarantors or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacitytheir respective Affiliates. The obligations of the Lenders Company under this paragraph (c) are subject to 11B shall survive the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent transfer of any claim Note or portion thereof or interest therein by any Person other than Purchaser or Transferee and the Borrower, the Parent or payment of any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)Note.

Appears in 1 contract

Sources: Private Shelf Agreement (Saia Inc)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), Agents in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration preparation of this Agreement (or the amendment, modification or waiver thereof) as previously agreed upon between the Company, the Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), Agents and (ii) without duplication if an Event of any fees separately agreed to by the BorrowerDefault occurs, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the proceeds therefrom right to be indemnified hereunder (including i) to the extent such indemnification relates to relationships of, between or among each of, or any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrowerof, the Parent Agents, the Lenders or any Assignee or Participant or (ii) for such Indemnitee’s or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneysRelated Personsfees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of or the material breach by such Indemnitee or any of its Related Persons of their obligations (2if any) to have resulted from under this Agreement, as determined by a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document final and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case non-appealable judgment of a conflict court of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarycompetent jurisdiction. This Section 7.03(b) section shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank Indemnified Taxes, Other Taxes or Swing Line Bank solely in its capacity as suchExcluded Taxes, only the Lenders which shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered solely by Section 7.03(b)8.03.

Appears in 1 contract

Sources: Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent or Citigroup in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Sectionthe Loan Documents (including but not limited to reasonable legal fees and expenses of counsel, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower legal fees and legal expenses shall only be required limited to pay the fees and expenses for (x) of one (1) outside legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the Administrative Agentevent of any actual or potential conflict of interest, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower shall be liable for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks fees and the LC Issuing Banks and (z) in the case expenses of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryfor each person or group of persons subject to such conflict). (b) The Borrower shall hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Bank, and each their respective Related Party of any of the foregoing Persons Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, obligations, damages, liabilities penalties, actions, judgments, suits, liabilities, costs, expenses and related disbursements (including, without limitation, all reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, any Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) the direct or indirect application or proposed application of the proceeds of any Advance Loan or Facility Letter of Credit or the use or proposed use of the proceeds therefrom (hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ (except the Administrative Agent in its capacity as such) obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger, the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Agent or any Issuing Banks, (2) any local and/or regulatory counsel Bank in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. (a) The Borrower Loan Parties, on a joint and several basis, shall pay (i) all reasonable reasonable, out-of-pocket costs and documented out expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (Affiliates, including the reasonable fees, charges and documented fees and expenses disbursements of counsel for the Administrative Agent, the Arrangers and their Affiliates (limited, in the case of legal fees and expenses, to one firm of counsel for all such Persons taken as a whole and, if necessary, one firm of regulatory counsel and one firm of local counsel in each applicable jurisdiction (which may be a single firm for multiple jurisdictions) for all such Persons taken as a whole (and, in the case of an actual or perceived conflict of interest, of another firm of counsel, another firm of regulatory counsel and another firm of local counsel in each applicable jurisdiction for all such affected Persons taken as a whole)), in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, the Arrangers and their Affiliates (limited, in the case of legal fees and expenses, to one firm of counsel for all such Persons taken as a whole and, if necessary, one firm of regulatory counsel and one firm of local counsel in each applicable jurisdiction (which may be a single firm for multiple jurisdictions) for all such Persons taken as a whole (and, in the case of an actual or perceived conflict of interest, of another firm of counsel, another firm of regulatory counsel and another firm of local counsel in each applicable jurisdiction for all such affected Persons taken as a whole)), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of pocket expenses outside counsel and the allocated cost of inside counsel (limited, in the case of legal fees and expenses, to one firm of counsel for all such Persons taken as a whole and, if necessary, one firm of regulatory counsel and one firm of local counsel in each applicable jurisdiction (which may be a single firm for multiple jurisdictions) for all such Persons taken as a whole (and, in the case of an actual or perceived conflict of interest, of another firm of counsel, another firm of regulatory counsel and another firm of local counsel in each applicable jurisdiction for all such affected Persons taken as a whole))) incurred by the Administrative Agent, any Lenderthe Arrangers, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this SectionSection 11.3, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower Loan Parties, on a joint and several basis, shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities liabilities, penalties and related reasonable documented out of pocket costs and expenses (including the reasonable fees, charges and documented fees and expenses disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee (limited, in the case of legal fees and expenses, to one firm of counsel for all such Indemnitees taken as a whole and, if necessary, one firm of regulatory counsel and one firm of local counsel in each applicable jurisdiction (which may be a single firm for multiple jurisdictions) for all such Indemnitees taken as a whole (and, in the case of an actual or perceived conflict of interest, of another firm of counsel, another firm of regulatory counsel and another firm of local counsel in each applicable jurisdiction for all such affected Indemnitees taken as a whole)), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, or any Environmental Proceeding actual or alleged Environmental Liability related in any way to the Borrower, the Parent Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities liabilities, penalties or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted (x) from the gross negligence or willful misconduct of such Indemnitee (including any Related Party of such Indemnitee) or (2y) to have resulted solely from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryDocument. This Section 7.03(b11.3(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails Loan Parties fail to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph clauses (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable lawLaw, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, this Agreement, Agreement or any other Loan Documentagreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (e) All amounts due under this Section 11.3 shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Primo Water Corp)

Expenses; Indemnification. (a) The Borrower shall If the Transactions are consummated and the Closing Date occurs, the Company agrees to pay (i) all reasonable reasonable, documented and documented out of invoiced out-of-pocket expenses incurred by the Administrative Agent, Agents and the Syndication Agent, the Joint Lead Arrangers (and, in the case of enforcement of this Agreement, each Lender and their Affiliates (including Issuing Bank) in connection with the reasonable preparation of this Agreement and documented fees and expenses of counsel for the Administrative Agent)other Loan Documents, or in connection with the syndication of the credit facility evidenced by this AgreementFacilities, the preparation, negotiationexecution and delivery, executionamendment, delivery and modification, waiver or enforcement of this Agreement (including expenses incurred in connection with due diligence (including third party expenses)) or in connection with the administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not limited in the transactions contemplated hereby or thereby shall be consummated)case of legal fees and expenses, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out legal fees of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension a single firm of any Letter of Credit or any demand counsel for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative AgentAgent and the Lead Arrangers, any Lendertaken as a whole, any Swing Line Bank and, if necessary, one firm of counsel in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for the Administrative Agent and the Lead Arrangers, taken as a whole, (and, in the case of an actual or any LC Issuing Bank (including perceived conflict of interest, where the party affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of an additional counsel for each group of conflicted persons similarly situated, taken as a whole) and in the case of enforcement, limited to the reasonable and documented legal fees and expenses of any a single firm of counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement Lead Arrangers and the other Loan DocumentsLenders, including its rights under this Sectiontaken as a whole, or and, if necessary, one firm of counsel in each appropriate jurisdiction (Bwhich may include a single special counsel acting in multiple jurisdictions) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Arrangers and the Lenders, the Swing Line Banks and the LC Issuing Bankstaken as a whole, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agentand, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a an actual or perceived conflict of interest between one or more interest, where the party affected by such conflict informs the Company of the Administrative Agentsuch conflict and thereafter retains its own counsel, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such of an additional counsel for each group of conflicted persons similarly situated, taken as may be reasonably necessarya whole)). (b) The Borrower Loan Parties shall indemnify the Administrative Agent, each Joint Lead ArrangerAgents (and any sub-agent thereof), each Lender, each Swing Line Bank Lead Arranger and each LC Issuing Bank, and each Related Party of any of the foregoing Persons and each of their respective successors and permitted assigns (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable reasonable, documented out of and invoiced out-of-pocket costs fees and expenses (including limited in the case of legal fees and expenses to reasonable and documented legal fees and expenses of any a single firm of counsel for any Indemniteeall Indemnitees, taken as a whole, and, if necessary, one firm of counsel in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for all Indemnitees taken as a whole (and, in the case of an actual or perceived conflict of interest, where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of an additional counsel for each group of affected Indemnitees similarly situated, taken as a whole)), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower third party or the Parent) other than such Indemnitee and its Related Parties by any Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) the protection, enforcement or exercise of any Advance rights, benefits or remedies under the Loan Documents, (iii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iiiiv) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent any Loan Party or any of its their Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent any Loan Party or any of its their Subsidiaries, or (ivv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its SubsidiariesLoan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are Taxes or are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (A) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee or any of its Related Parties, (B) a material breach of the obligations of such Indemnitee or any of its Related Parties under any of the Loan Documents, or (C) disputes relating to any proceeding between or among Indemnitees other than (1) claims against the Agents or the Lead Arrangers or their respective Affiliates, in each case, in their capacity or in fulfilling their role as the agent or arranger, syndication agent or documentation agent or any other similar role under the Facilities (excluding their role as a Lender) to the extent such Persons are otherwise entitled to receive indemnification under this clause (b) or (2) to have resulted from a claim brought by claims arising out of any act or omission on the Borrower part of the Loan Parties or the Parent against Restricted Subsidiaries. No Loan Party shall, without the prior written consent of any Indemnitee, effect any settlement of any pending or threatened proceeding in respect of which such Indemnitee is a party and indemnity has been sought hereunder by such Indemnitee, unless such settlement includes an unconditional release of such Indemnitee from all liability on claims that are the subject matter of such indemnity and does not include any admission of liability. No Indemnitee shall be liable for breach in bad faith any damages arising from the use by others of any information or other materials obtained through Syndtrak, Intralinks or any other Internet or intranet website, except as a result of such Indemnitee’s obligations hereunder gross negligence or under any other Loan Document willful misconduct as determined by a court of competent jurisdiction in a final and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimappealable judgment. (c) To the extent that the Borrower for any reason fails Loan Parties fail to indefeasibly pay any amount required to be paid to the Administrative Agent or any Issuing Bank under paragraph clause (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing10.03, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC the relevant Issuing Bank, such Swing Line Bank Lender’s pro rata share (in accordance with its respective Revolving Commitment (or such Related PartyRevolving Credit Exposure, as the case may be, such Lender’s Pro Rata Share (applicable) determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower neither any Loan Party nor any Indemnitee shall not assert, and each hereby waives, any claim against any Indemniteeclaim, on any theory of liability, for special, indirect, consequential consequential, exemplary or punitive damages (including any loss of profits, business or anticipated savings), as opposed to actual or direct or actual damages) , arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To , provided, however, that the fullest extent permitted by applicable lawforegoing waiver shall not limit the indemnification obligations of the Loan Parties. (e) Notwithstanding the foregoing, no Indemnitee shall assert, and each Indemnitee hereby waiveswill be obligated to refund and return promptly any and all amounts paid by the Loan Parties pursuant to clause (b) above to such Indemnitee for any such losses, any claim against the Borrowerclaims, on any theory of liabilitydamages, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) liabilities and expenses to the extent it has been determined by a court of competent jurisdiction in a final, non-appealable judgment that such Indemnitee is not entitled to payment of such amounts in accordance with the terms of this Section 10.03. (f) None of the Loan Parties will be liable for any settlement of any claim claim, litigation, investigation or proceeding effected without its written consent (which consent will not be unreasonably withheld, delayed or conditioned), but if settled with its written consent or if there is a final and non-appealable judgment by a court of competent jurisdiction in any Person other than the Borrowersuch claim, litigation, investigation or proceeding, the Parent or any Loan Parties agree to indemnify and hold harmless such Indemnitee or its Related Parties for any of in the foregoing to the extent such claim would manner set forth in clause (b) above. (g) All amounts due under this Section 10.03 shall be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Buckeye Partners, L.P.)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse the Administrative Agent, the Arrangers and their respective Affiliates for any reasonable out-of-pocket costs and expenses documented in reasonable detail (i) limited in the case of legal fees and expenses, to the reasonable fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively), upon presentation of a reasonably detailed statement of all reasonable such costs and documented out of pocket expenses expenses, paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their respective Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication preparation, negotiation, execution, delivery, syndication, review, amendment, modification, and administration (including, without limitation, preparation of the credit facility evidenced by this Agreementreports described below) of the Loan Documents (which, in the case of preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummatedlimited to a single counsel and a single local counsel in each relevant jurisdiction), (ii) without duplication of any fees separately agreed to by the Borrower, as well as all reasonable out-of-pocket costs and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Issuers in connection with the issuance, amendment, renewal or extension of any Letter Facility Letters of Credit or any demand for payment thereunder thereunder. The Company also agrees to reimburse the Administrative Agent, the Issuers and the Lenders for any reasonable out-of-pocket costs and expenses (iiilimited in the case of legal fees and expenses, to the fees, charges and disbursements of one firm of counsel and a single firm of local counsel in each relevant jurisdiction, in each case acting for the foregoing collectively, plus in the case of an actual or perceived conflict of interest where the person affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected person and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) all documented out of pocket expenses for such affected person) paid or incurred by the Administrative Agent, any Lender, any Swing Line Bank Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall Company hereby further agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Arrangers, the Issuers, each Lender, Lender and the respective Related Parties of each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called party, an “Indemnitee”) against, and hold each Indemnitee them harmless from, any from and against all losses, claims, damages, liabilities and related expenses, including without limitation, any reasonable and documented out of pocket costs (in 509265-1946-Active.21307007.121307007.7 reasonable detail) legal fees and expenses (including but limited in the reasonable and documented case of legal fees and expenses expenses, to a single firm of counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs the Company of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for such affected Indemnitee)) of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties to the extent arising out of, in connection with, with or as a result of (i) the execution or delivery of this AgreementTransactions, any other Loan Document or any agreement or instrument contemplated hereby or therebyincluding, without limitation, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions financings contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent transactions connected therewith or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to (regardless of whether any such Indemnitee is a party thereto and regardless of the foregoingwhether such claim, whether based on contractlitigation, tort investigation or any other theory, whether proceeding is brought by a third party or by the Borrower, the Parent Company or any of its Subsidiaries, and regardless ) to the extent related to any of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ feesforegoing; provided that such the foregoing indemnity shall (x) will not, as to any Indemnitee, be available apply to the extent that such losses, claims, damages, liabilities and related expenses to the extent they (a) are found in a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the willful misconduct or related costs gross negligence of such Indemnitee or any of its Related Parties, (b) result from a claim brought by the Company or any of its Subsidiaries against such Indemnitee or any of its Related Parties for material breach of such Indemnitee’s or any of its Related Parties’ obligations hereunder if the Company or such Subsidiary has obtained a final and expenses are non-appealable judgment in its or its Subsidiary’s favor on such claim as determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2c) any local and/or regulatory counsel dispute solely among Indemnitees or their respective Related Parties other than claims against any agent or arranger in its capacity or in fulfilling its role as agent or arranger or any applicable jurisdiction for similar role under the Administrative Agent, Credit Facilities and other than claims to the Syndication Agent, extent arising out of any act or omission on the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more part of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryCompany or its Affiliates. This Section 7.03(b) paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders Company under this paragraph (c) are subject to Section 10.6 shall survive the provisions termination of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Incremental Amendment (DIEBOLD NIXDORF, Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian and their Affiliates (including the Securities Intermediary, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent), (2) one law firm for the Document Custodian, the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (3) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (4) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationLoan Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lenderincluding reasonable and documented fees and disbursements of counsel for each Agent (but limited, any Swing Line Bank or any LC Issuing Bank (including in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent, (2) one law firm for the Document Custodian, the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (3) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (4) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank in each case, a single additional firm or any LC Issuing Bankcounsel in each relevant jurisdiction for all similarly situated affected Persons), in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documentsenforcement proceedings resulting therefrom. For the sake of clarity, including its rights under this Section, or (BSection 12.3(a) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during shall not impose any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that payment obligation on the Borrower with respect to Taxes, which obligation shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryaddressed solely by Section 11.4. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Indemnitee (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (ii) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (iv) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for all similarly situated affected Indemnitees) that may at any Indemnitee)time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) any of the execution transactions contemplated by the Loan Documents or the execution, delivery or performance of this Agreementany Loan Document, (ii) the grant to the Collateral Agent, the Lenders of any other Lien, on the Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or covenant contained in any Loan Document or any agreement document relating to any Collateral or instrument contemplated hereby (vi) any loss arising from any action or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation inaction of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as determined by a court of competent jurisdiction by a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteenon-appealable judgment. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b12.3(b) shall not apply impose any indemnification or similar obligation on the Borrower with respect to Taxes other than any Taxes that represent lossesTaxes, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders which obligation shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered addressed solely by Section 7.03(b)11.4.

Appears in 1 contract

Sources: Credit Agreement (Blue Owl Credit Income Corp.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees fees, charges and expenses disbursements of counsel for the Administrative Agent)Agent and its Affiliates, in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery administration and administration enforcement of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including the reasonable and documented fees, charges and disbursements of counsel for the Administrative Agent and its Affiliates, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) not in limitation of the obligations under clauses (i) and (ii) above, all reasonable and documented out out-of-pocket costs and expenses (including, without limitation, the reasonable and documented fees, charges and disbursements of pocket expenses outside counsel and consultants) incurred by the Administrative Agent, any Lenderthe Sole Arranger, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided provided, that the Borrower shall only be required to pay the fees fees, charges and expenses for (x) one (1) disbursements of outside counsel for paid under this clause (iii) shall be limited to the reasonable and documented fees, charges and disbursements of one outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one outside counsel to the Lenders, the Swing Line Banks and the LC Issuing Bankstaken as a whole, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agentand, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) solely in the case of a an actual or perceived conflict of interest between interest, one or more additional outside counsel to all affected persons taken as a whole, and, if necessary, of one local outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one local outside counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Swing Line Banks Administrative Agent and Lenders and, solely in the LC Issuing Bankscase of an actual or perceived conflict of interest, such one additional outside local counsel in any relevant material jurisdiction to all affected persons, taken as may be reasonably necessarya whole. (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead the Sole Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Document, or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the BorrowerParent, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s funding obligations hereunder or under any (z) a proceeding brought by an Indemnitee against another Indemnitee (other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for than a proceeding brought by an Indemnitee against the Administrative Agent, the Syndication AgentIssuing Bank, the Joint Lead ArrangersSwingline Lender, the Lendersor any other agent, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the each case in its capacity as Administrative Agent, the Syndication AgentIssuing Bank, the Joint Lead ArrangersSwingline Lender, the Lendersor other agent, the Swing Line Banks as applicable, and the LC Issuing Banks and (3) in the case other than a proceeding arising out of a conflict of interest between one any act or more omission of the Administrative AgentBorrower or any of its Related Parties). No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Syndtrak, the Syndication AgentIntralinks or any other Internet or intranet website, the Joint Lead Arrangers, the Lenders, the Swing Line Banks except as a result of such Indemnitee’s gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and the LC Issuing Banks, such additional counsel as may be reasonably necessarynon-appealable judgment. This Section 7.03(b10.3(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) Without duplication of Section 2.20(c) Borrower shall pay, and hold the Administrative Agent, the Issuing Bank and each of the Lenders harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein or any payments due thereunder, and save the Administrative Agent, the Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. (d) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph subsection (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable) and Loans determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable law, neither Parent nor the Borrower shall not assert, and each of Parent and the Borrower hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided that nothing in this clause (e) shall relieve the fullest extent permitted by applicable law, no Borrower of any obligation it may have to indemnify any Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. (as opposed to direct or actual damagesf) arising out of, in connection with, or as a result of, All amounts due under this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver Section shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (LendingTree, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) reimburse the Administrative Agent and each Arranger upon demand for all reasonable and documented out of pocket expenses paid or incurred by the Administrative Agent or such Arranger, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable and documented fees, charges and disbursements of one primary outside counsel and any special or local counsel to and/or the allocated costs of in-house counsel of the Administrative Agent and the Arrangers incurred from time to time, in connection with the due diligence, preparation, administration, negotiation, execution, delivery, syndication, distribution (including, without limitation, via DebtX and any other internet service selected by the Administrative Agent), review, amendment, modification, and administration of the Loan Documents. The Borrower also agrees to reimburse the Administrative Agent, the Syndication AgentArrangers, the Joint Lead Arrangers LC Issuers and their Affiliates the Lenders for any costs, internal charges and out-of-pocket expenses, including, without limitation, filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable fees, charges and disbursements of outside counsel (including which, in the case of legal counsel, shall be limited to the reasonable fees, charges and documented fees disbursements of (i) one primary counsel and expenses of any special and local counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents Lenders (other than including the Support AgreementLC Issuers) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) without duplication in the event of any fees separately agreed actual or potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Lenders (including the LC Issuers, if similarly situated)) to by the BorrowerAdministrative Agent, all reasonable any Arranger, LC Issuers and documented out the Lenders and/or the allocated costs of pocket expenses in-house counsel incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuancefrom time to time, amendment, renewal paid or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any LenderArranger, any Swing Line Bank LC Issuer or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the collection and enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights . Expenses being reimbursed by the Borrower under this SectionSection 9.6(a) include, or (B) without limitation, reasonable and documented costs and expenses incurred in connection with the Advance made Reports described in the following sentence. The Borrower acknowledges that from time to time U.S. Bank may prepare and may distribute to the Lenders (but shall have no obligation or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring duty to prepare or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, distribute to the Lenders, ) certain audit reports (the Swing Line Banks and “Reports”) pertaining to the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction Borrower’s assets for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one internal use by U.S. Bank from information furnished to it by or more on behalf of the Administrative AgentBorrower, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryafter U.S. Bank has exercised its rights of inspection pursuant to this Agreement. (b) The Borrower shall hereby further agrees to indemnify and hold harmless the Administrative Agent, each Joint Lead Arranger, each LC Issuer, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any of the foregoing Persons their directors, officers and employees, agents and advisors (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including including, without limitation, reasonable attorneys’ fees (which, in the case of legal counsel, shall be limited to the reasonable fees, charges and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result disbursements of (i) one primary counsel and any special and local counsel for the execution Administrative Agent and the Lenders (including the LC Issuers) and (ii) in the event of any actual or delivery potential conflicts of interest, one additional primary counsel and any additional special and local counsel, in each case, for all similarly situated Lenders (including the LC Issuers, if similarly situated)), charges and disbursements and settlement costs (including, without limitation, all reasonable and documented expenses of litigation or preparation therefor) whether or not the Administrative Agent, any Arranger, any LC Issuer, any Lender or any affiliate is a party thereto) which any such Indemnitee may pay or incur arising out of or relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or therebyhereby, (ii) any Advance or Letter of Credit or the use or proposed Borrower’s use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)loan proceeds, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property Property owned or operated by the BorrowerBorrower or any of its Subsidiaries, the Parent any environmental liability related in any way to Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby direct or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to indirect application or proposed application of the proceeds of any Indemnitee, be available Credit Extension hereunder except to the extent that such losses, claims, damages, liabilities or related costs and expenses they are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the applicable Indemnitee. The obligations of the Borrower or under this Section 9.6 shall survive the Parent against an Indemnitee for breach in bad faith termination of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarythis Agreement. This Section 7.03(b9.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Extra Space Storage Inc.)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable out-of-pocket costs and expenses (iincluding reasonable attorneys’ fees and expenses of attorneys for the Administrative Agent (other than internal counsel) all reasonable and documented out of pocket expenses (but only with the Borrower’s prior approval, which shall not be unreasonably withheld or delayed) other advisors and professionals engaged by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery delivery, syndication, amendment, modification, and administration of this Agreement and the other Loan Documents (other than Documents. In addition, the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed Borrower also agrees to by the Borrower, pay for all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees costs and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Agent and each Lender incurred in connection with the enforcement or protection preservation of its rights under the Loan Documents (Aincluding but not limited to reasonable legal fees and expenses of counsel, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel plus, if necessary, one special counsel for each relevant specialty and one local counsel per jurisdiction; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict). The Borrower hereby further agrees to indemnify the Administrative Agent, the Arrangers, each Lender and their respective Related Parties (each an “Indemnitee”) against all losses, claims, obligations, damages, penalties, actions, judgments, suits, liabilities, costs, expenses and disbursements (including, without limitation, all reasonable fees and expenses of attorneys and other expenses of litigation or preparation therefor whether or not the Administrative Agent, any Arranger or any Lender is a party thereto, provided that legal fees and legal expenses shall be limited to the fees and expenses of one legal counsel and one local counsel in connection with each relevant jurisdiction for all such Indemnitees, taken as a whole; provided, that, in the event of any actual or potential conflict of interest, the Borrower shall be liable for the fees and expenses of one additional counsel for each person or group of persons subject to such conflict) (“Losses”) which any of them may pay or incur arising out of or relating to this Agreement and Agreement, the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (of any Loan hereunder including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter 84 Losses arising out of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on Regulated Substances at, on, under or emanating from any property owned Property, or operated by any liability related to the Borrower, the Parent Borrower or any of its Subsidiaries, or Subsidiaries under any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available Laws except to the extent that such losses, claims, damages, liabilities or related costs and expenses they (i) are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2ii) to have resulted arose from a claim brought by material breach of the Borrower or the Parent against an Indemnitee for breach in bad faith obligations of such Indemnitee’s or any of its Related Parties’ (except the Administrative Agent in its capacity as such) obligations hereunder or under any other Loan Document (as determined by a court of competent jurisdiction in a final, non-appealable judgment) or (iii) arose from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of the Loan Parties and is brought by an Indemnitee against another Indemnitee (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against any Agent, Arranger or the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel Agent in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more its capacity as such). The obligations of the Administrative Agent, Borrower under this Section 10.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarytermination of this Agreement. This Section 7.03(b10.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. . Numbers of Documents. All statements, notices, closing documents, and requests hereunder shall (cif the Administrative Agent so requests) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it furnished to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to with sufficient counterparts so that the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as furnish one to each of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Toll Brothers, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable out-of-pocket expenses of the Administrative Agent, including reasonable fees and documented out disbursements of special counsel for the Administrative Agent, in connection with the preparation and administration of this Agreement, any waiver or consent hereunder or any amendment hereof or any Default or alleged Default hereunder and (ii) if an Event of Default occurs, all out-of-pocket expenses incurred by the Administrative AgentAgent and each Lender, including (without duplication) the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses disbursements of outside counsel for and the Administrative Agent)allocated cost of inside counsel, in connection with the syndication such Event of the credit facility evidenced by this AgreementDefault and collection, the preparationbankruptcy, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses insolvency and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead ArrangerArranger and Joint Bookrunner, and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Banktheir respective officers, directors, employees, agents, advisors, representatives, controlling persons, members and each Related Party of any of the foregoing Persons successors and assigns (each such Person being called an "Indemnitee") against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any kind, including, without limitation, the reasonable fees and disbursements of counsel which shall be reimbursed within 30 days after receipt of a reasonably detailed written invoice therefor (together with, if reasonably requested, documentation supporting such reimbursement request) for any reasonable and documented out-of-pocket expenses (including legal expenses of one firm of counsel for any all such Indemnitees, taken as a whole, and, if necessary, of a single local counsel in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for all such Indemnitees, taken as a whole (and in the case of an actual or perceived conflict of interest where the Indemnitee affected by such conflict informs you of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee)) incurred in connection with investigating or defending any of the foregoing; provided that no Indemnitee shall have the right to be indemnified hereunder for (i) such Indemnitee's (or any Related Person of such Indemnitee's) own gross negligence, incurred by bad faith or willful misconduct (ii) a material breach of the obligations of any Indemnitee or asserted against any Indemnitee by any Related Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations thereof hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating between or among Indemnitees or their Related Persons other than a Joint Lead Arranger or Joint Bookrunner or the Administrative Agent in its capacity as such (except to the extent involving any of the foregoing, whether based on contract, tort act or any other theory, whether brought by a third party or omission by the Borrower, the Parent Company or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liabilityaffiliates), investigationin each case as determined by a final, litigation or non-appealable judgment of a court of competent jurisdiction. (c) Notwithstanding any other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out provision of or in any way connected with the Advances, this Agreement, no party hereto, the Target, any other Loan Document, Indemnified Person or any documents contemplated by affiliates of the foregoing shall be liable for any indirect, special, punitive or referred consequential damages in connection with its activities related to herein or therein or this Agreement, the transactions contemplated hereby or thereby, including reasonable Term Loan Fee Letter and documented attorneys’ feesthe Transactions; provided that the foregoing shall not limit the Company's indemnification obligation with respect to losses, claims, damages and liabilities as set forth in this Section 11.03. (d) Notwithstanding any other provision of this Agreement, no party hereto shall be liable for any damages arising from the use by others of information or other materials obtained through electronic telecommunications or other information transmission systems, other than for direct, actual damages resulting from the bad faith, gross negligence or willful misconduct of such indemnity party or any of its Related Persons as determined by a final, non-appealable judgment of a court of competent jurisdiction. (e) The Company shall (x) not, without the prior written consent of an Indemnified Person (which consent shall not be unreasonably withheld, conditioned or delayed), effect any settlement of any pending or threatened proceeding against an Indemnified Person in respect of which indemnity could have been sought hereunder by such Indemnified Person unless (i) such settlement includes an unconditional release of such Indemnified Person from all liability or claims that are the subject matter of such proceeding and (ii) does not include any statement as to any Indemniteeadmission or fault, culpability, wrong-doing or a failure to act by or on behalf of such Indemnified Person. (f) The Company shall not be available liable for any settlement of any claim, litigation, investigation or proceeding effected without the Company's prior written consent (which prior written consent shall not be unreasonably withheld, conditioned or delayed), but if settled with the Company's written consent, the Company agrees to indemnify and hold harmless each Indemnified Person in accordance with the extent that other provisions of this Section 11.03. (g) Notwithstanding the foregoing paragraphs in this Section 11.03, each Indemnified Person shall be obligated to refund or return any and all amounts paid the Company under the paragraph (f) above to such Indemnified Person for any losses, claims, damages, liabilities or related costs and expenses are determined to the extent such Indemnified Person is found in a final judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct not be entitled to payment of such Indemnitee or (2) to have resulted from a claim brought by amounts in accordance with the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimterms hereof. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Credit Agreement (Campbell Soup Co)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reimburse the Administrative Agent for any reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket expenses incurred by third-party consultants, limited to reasonable fees for consultants engaged, unless an Unmatured Default or Default exists at the time of such engagement, with the consent of the Borrower (such consent not to be unreasonably conditioned, withheld or delayed) and in the case of counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the limited to reasonable and documented fees and expenses of for one external counsel for the Administrative Agent), ) paid or incurred by the Administrative Agent in connection with the syndication amendment or modification of the credit facility evidenced by this Agreement, Loan Documents. The Borrower also agrees to reimburse the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or Administrative Agent for any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out out-of-pocket costs and expenses (but, in the case of pocket counsel, limited to reasonable fees and expenses for one external counsel for the Administrative Agent and the Lenders, taken as a whole, and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests, one additional counsel for each group of such similarly affected Persons) paid or incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) the Administrative Agent in connection with the issuancecollection and enforcement of the Loan Documents (including, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agentwithout limitation, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bankworkout), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) . The Borrower shall further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Banktheir Affiliates, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) againsttheir respective directors, officers and hold each Indemnitee harmless from, any and employees against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including but, in the case of counsel to such indemnified persons, limited to reasonable and documented fees out-of-pocket fees, and expenses for one external counsel to such indemnified parties (and if reasonably determined by the Administrative Agent to be needed due to differences between the Administrative Agent and the Lenders and arising after a Default or in the event of any actual conflict of interests among the indemnified parties, LEGAL02/41239043v9 one additional counsel for any Indemniteeeach group of such similarly affected Persons), incurred by and all other reasonable and documented out-of-pocket expenses of litigation or preparation therefor whether or not the Administrative Agent, or any Indemnitee Lender is a party thereto) which any of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of Projects, the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Loan hereunder, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available except to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court any of competent jurisdiction by final and nonappealable judgment the foregoing arise (1a) to have resulted from out of the gross negligence or willful misconduct of such Indemnitee the party seeking indemnification therefor or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of any Affiliate of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) party or (b) from claims of this Section to be paid by it to an indemnified party against any Affiliate of such indemnified party or (c) from internal disputes among the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of and the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, (x) the Borrower shall not assert, and hereby waives, any claim against any Indemniteeof the foregoing indemnified parties, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof. To thereof and (y) the fullest extent permitted by applicable law, no Indemnitee Administrative Agent and the Lenders shall not assert, and each Indemnitee hereby waiveswaive, any claim against any of the BorrowerBorrower and any other Loan Party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Facility Letter of Credit, Credit or the use of the proceeds thereof; provided that this waiver shall in no way limit . The obligations of the Borrower’s indemnification obligations in Section 7.03(b) Borrower to the extent Administrative Agent and the Lenders under this Section shall survive the termination of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable out-of-pocket costs and expenses documented out in reasonable detail of pocket expenses incurred by the Administrative Agent, the Syndication AgentLead Arrangers, the Joint Lead Arrangers Swingline Lender and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Issuing Banks in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement the Loan Documents and, with respect to the Administrative Agent, the Swingline Lender and the other Loan Documents (other than the Support Agreement) or Issuing Banks only, any amendments, modifications or waivers thereof, limited in each case with respect to legal counsel to the reasonable fees, charges and disbursements of a single outside counsel for all of the provisions hereof or thereof (whether or not Administrative Agent, the transactions contemplated hereby or thereby shall be consummated)Lead Arrangers, the Swingline Lender and the Issuing Banks taken as a whole and, if reasonably necessary, one other local counsel in each applicable jurisdiction, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable out-of-pocket costs and expenses documented out of pocket expenses in reasonable detail incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket costs and expenses documented out in reasonable detail (limited in each case with respect to legal counsel to the fees, charges and disbursements of pocket expenses a single outside counsel for all of the Administrative Agent, the Issuing Banks, the Swingline Lender and the Lenders taken as a whole and, if reasonably necessary, one other local counsel for such Persons taken as a whole in each applicable jurisdiction and, in the event of any actual or perceived conflict of interest where the affected parties inform the Borrower of such conflict, one additional counsel to each group of similarly situated affected parties in each relevant jurisdiction) incurred by the Administrative Agent, any LenderIssuing Bank, any Swing Line Bank the Swingline Lender or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket costs and expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower Loan Parties shall indemnify the Administrative Agent, each Joint the Lead ArrangerArrangers, each the Swingline Lender, each Swing Line Bank and each LC the Lenders, the Issuing BankBanks, and each Related Party of any of the foregoing Persons (each such Person Person, together with their respective successors and permitted assigns, being called an “Indemnitee”) against, and hold each Indemnitee harmless fromfrom and against, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket liabilities, costs and expenses expenses, joint or several (including the reasonable fees, charges and documented fees and expenses disbursements of a single outside counsel for the Indemnitees taken as a whole and, if reasonably necessary, one other local counsel for the Indemnitees taken as a whole in each applicable jurisdiction and, in the event of any actual or perceived conflict of interest where the Indemnitees affected by such conflict inform the Borrower of such conflict, one additional counsel for any Indemnitee), to each group of similarly situated affected Indemnitees in each relevant jurisdiction) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party, by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party or by any other Person arising out of, in connection with, of or as a result of relating to (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC an Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in of any way to the Borrower, the Parent Loan Party or any of its Subsidiaries, or (iv) any actual or prospective action, claim, litigation, investigation or proceeding (including with respect to the investigation and defense thereof) relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party party, by the Borrower or any other Loan Party or by the Borrower, the Parent or any of its Subsidiariesother Person, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses (1) are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee or its or any of its Affiliates, officers, directors, employees, agents, advisors, members or (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document (including the failure to fund the Initial Term Loans on the Closing Date upon the satisfaction of the conditions set forth in Sections 3.1 and 3.2(c)) or (y2) be limited in the case of attorneys’ fees and expenses arise from any disputes solely among Indemnitees unrelated to any disputes involving, or claims against, any Loan Party or its Affiliate (1) one (1) outside counsel for other than disputes involving the Administrative Agent, a Lead Arranger, an Issuing Bank, or the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel Swingline Lender each in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel its capacity as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimsuch). (c) To the extent that the Borrower for any reason fails Loan Parties fail to indefeasibly pay any amount required to be paid to the Administrative Agent, an Issuing Bank or the Swingline Lender under paragraph subsection (a) or of (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender▇▇▇▇▇▇’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower each party hereto agrees that it shall not assert, and hereby waives, any claim against any Indemniteeother party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (e) All amounts due under this Section shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages be payable promptly after written demand therefor. (as opposed f) This Section 10.3 shall apply with respect to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) Taxes only to the extent of they represent losses, claims, damages, etc., arising from any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)non-Tax claim.

Appears in 1 contract

Sources: Credit Agreement (Repay Holdings Corp)

Expenses; Indemnification. (a) The Borrower shall pay pay: (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable fees, charges and documented fees and expenses disbursements of counsel for the Administrative AgentAgent and its Affiliates (which shall be limited, in the case of legal fees and expenses, to the fees, charges and disbursements of one counsel to the Administrative Agent and one counsel to the Lenders, taken as a whole, and, solely in the case of an actual or perceived conflict of interest, one additional counsel to all affected persons taken as a whole, and, if necessary, of one local counsel to the Administrative Agent and one local counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Administrative Agent and Lenders and, solely in the case of an actual or perceived conflict of interest, one additional local counsel to all affected persons, taken as a whole), in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including, but not limited to, all out-of-pocket expenses of the Administrative Agent and its Affiliates in connection with periodic field audits, appraisals, and other inspections described in Section 6.9, plus out-of-pocket expenses for each field audit, appraisal, or other inspection of a Credit Party or any Subsidiary of a Credit Party performed by personnel employed or engaged by the Administrative Agent and its Affiliates. (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and thereunder; and (iii) all documented out out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of pocket expenses counsel) incurred by the Administrative Agent, any Lender, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided that the Borrower Credit (which shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agentlimited, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict legal fees and expenses, to the fees, charges and disbursements of interest between one or more of counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one counsel to the Lenders, taken as a whole, and, solely in the Swing Line Banks and the LC Issuing Bankscase of an actual or perceived conflict of interest, such one additional counsel to all affected persons taken as may be reasonably a whole, and, if necessary, of one local counsel to the Administrative Agent and one local counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Administrative Agent and Lenders and, solely in the case of an actual or perceived conflict of interest, one additional local counsel to all affected persons, taken as a whole). (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable fees, charges and documented fees and expenses disbursements of any counsel (other than in-house counsel) for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the third party or by any Borrower or the Parent) any other than such Indemnitee and its Related Parties Credit Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document, any Bank Products Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent any Borrower or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent any Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent any Borrower or any of its Subsidiariesother Credit Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses (1) are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (a) the gross negligence negligence, bad faith or willful misconduct of such Indemnitee, or (b) any material breach of the obligations of such Indemnitee under this Agreement or any other Loan Document or (2) to have resulted arise out of or result from a claim any dispute among Indemnitees that does not involve or arise from an act or omission by any Credit Party or any of their respective Affiliates and is brought by the Borrower or the Parent an Indemintee against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and Indemnitee (yother than (x) be limited any claims against the Administrative Agent or its Affiliates in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for their respective capacities as the Administrative Agent, the Syndication AgentLeft Lead Arranger or any similar role unless such claim would otherwise be excluded pursuant to subclause (a) above). No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through Syndtrak, Intralinks or any other Internet or intranet website, except as a result of such Indemnitee’s gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable judgment. The Borrower shall not, without the Joint Lead Arrangersprior written consent of any Indemnitee, effect any settlement of any pending or threatened proceeding in respect of which such Indemnitee is a party and indemnity has been sought hereunder by such Indemnitee, unless such settlement includes an unconditional release of such Indemnitee from all liability on claims that are the Lenderssubject matter of such indemnity. For the avoidance of doubt, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b10.2(b) shall not apply with respect to Taxes other than any Taxes that represent liabilities, obligations, losses, claims, damages, etc. ., arising from any with respect to a non-Tax claim. (c) The Borrower shall pay, and hold the Administrative Agent, the Issuing Bank and each of the Lenders harmless from and against, any and all present and future stamp, documentary, and other similar taxes with respect to this Agreement and any other Loan Documents, any collateral described therein or any payments due thereunder, and save the Administrative Agent, the Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay or omission to pay such taxes. (d) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swing Bank under paragraph subsection (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swing Bank, as the case may be, such Lender’s Pro Rata Share pro rata share (determined in accordance with its respective Aggregate Commitment Ratio as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such the Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable lawApplicable Law, the Borrower no Indemnitee or Credit Party shall not assert, and each Indemnitee and Credit Party hereby waives, any claim against any IndemniteeIndemnitee or Credit Party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To ; provided, however, that nothing herein shall limit or otherwise impair any indemnification or reimbursement obligations of the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, Credit Parties in respect of any claim against the Borrower, on any theory of liability, for third-party claims alleging such special, indirect, punitive, exemplary or consequential or punitive damages damages. (as opposed to direct or actual damagesf) arising out of, All amounts due under this Section shall be payable promptly (and in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(bevent with five (5) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)Business Days) after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (Installed Building Products, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay reimburse (i) all the Agent for any reasonable costs, internal charges and documented out of out-of-pocket expenses (including attorneys' fees and time charges of attorneys for the Agent, which attorneys may be employees of the Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreementnegotiation, the documentation, preparation, negotiationreview, execution, delivery delivery, amendment, modification and administration of this Agreement and the other Loan Documents (other than including without limitation, reasonable costs and out-of-pocket expenses incurred in connection with post-closing UCC searches and the Support Agreementanalysis thereof) or any amendmentsother documents reasonably required to be reviewed or prepared in connection herewith or therewith and all out-of-pocket expenses incurred by the Agent in connection with the taking and perfection of Liens on the Collateral (including, modifications or waivers without limitation, title and lien searches, surveys, title commitment and insurance costs, filing fees and documentary, stamp, filing and similar taxes and corporate search fees), (ii) the Agent, each Co-Agent and each of the provisions hereof Banks for any reasonable costs, internal charges and out-of-pocket expenses (including attorneys' fees and time charges of attorneys for the Agent and the Banks, which attorneys may be employees of the Agent or thereof any Bank) paid or incurred by the Agent, any Co-Agent or any Bank in connection with the collection and enforcement or amendment or modification of the Loan Documents or any restructuring in respect of the Obligations and (iii) the Agent, any Co-Agent or any Bank for any cost and expense of obtaining any appraisals in respect of the assets of the Company or any Subsidiary, to the extent any Bank determines that such appraisals are required by any law or any governmental rule, regulation, policy, guideline or directive (whether or not having the force of law), or any interpretation thereof, including, without limitation, the provisions of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, and any rules promulgated to implement such provisions. The Company further agrees to indemnify the Agent, each Co-Agent and each Bank, and their respective directors, officers, attorneys, agents, and employees, for, and hold each of them harmless against, all losses, claims (including, without limitation, all Environmental Claims), damages, penalties, judgments, liabilities, actions, proceedings, costs and expenses (including, without limitation, all attorney's fees and legal expenses incurred by any of them and other expenses of litigation or preparation therefor whether or not any suit or proceeding is brought or, if so, whether or not the Agent, any Co-Agent or any Bank is a party thereto) which any of them may pay or incur arising out of or relating to this Agreement, the other Loan Documents, the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agentact, any Lender, any Swing Line Bank event or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank omission related hereto or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower thereto or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, direct or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by any LC Issuing Bank Loan hereunder, provided, however, that no such Agent, Co-Agent, Bank, director, officer, attorney, agent or employee shall have a right to honor a demand be indemnified or held harmless hereunder for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the own gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from as finally determined in a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case judgment of a conflict court of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacitycompetent jurisdiction. The obligations of the Lenders Company under this paragraph (c) are subject to Section shall survive the provisions repayment of Section 2.21(c). (d) To the fullest extent permitted by applicable law, Obligations and the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory termination of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Jacor Communications Inc)

Expenses; Indemnification. (a) The Borrower shall pay reimburse the Administrative Agent for any reasonable and documented costs, and out-of-pocket expenses (i) including, without limitation, all reasonable and documented out fees for consultants and fees and reasonable expenses for attorneys for the Administrative Agent, all costs of pocket expenses Appraisals and all costs incurred in connection with any electronic information dissemination system utilized by the Administrative Agent) paid or incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), Agent in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of, and any amendment of, or supplement or modification of, any of this Agreement the Loan Documents and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers consummation of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby and thereby; provided, that any such legal fees and expenses shall be consummated), (ii) without duplication of any fees separately agreed limited to by the Borrower, all actual reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank (other than overhead expenses fees, disbursements and other similar expenses) in connection with the issuance, amendment, renewal or extension charges of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any one counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Issuing Lender and the Lenders, the Swing Line Banks taken as a whole (and the LC Issuing Banksif necessary, (y) any one local and/or regulatory counsel in any applicable relevant material jurisdiction to such Persons, taken as a whole). The Borrower also agrees to reimburse the Administrative Agent and the Lenders for any reasonable costs and out-of-pocket expenses (including, without limitation, all fees and reasonable expenses for attorneys for the Administrative Agent and the Lenders) paid or incurred by the Administrative Agent or any Lender in connection with the collection and enforcement of the Loan Documents (including, without limitation, any workout; provided, that any such legal fees and expenses shall be limited to the actual reasonable out-of-pocket fees, disbursements and other charges of one counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Issuing Lender and the Lenders, the Swing Line Banks and the LC Issuing Banks taken as a whole (and (zi) if necessary, one local counsel in the case of any relevant material jurisdiction to such Persons, taken as a conflict of interest between one or more of whole and (ii) if reasonably determined by the Administrative Agent, Agent to be needed due to differences between the Syndication Agent, the Joint Lead Arrangers, Administrative Agent and the Lenders, one additional outside law firm retained to act as special counsel to the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) Lenders). The Borrower shall further agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Lender and each LC Issuing Banktheir Affiliates, and each Related Party of any of their respective directors, officers, employees and agents (the foregoing Persons (each such Person being called an Indemniteeindemnified parties”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the including, without limitation, all reasonable and documented fees and reasonable documented expenses for attorneys of the indemnified parties, all reasonable expenses of litigation or preparation therefor whether or not the Administrative Agent, any counsel for Lender or any Indemnitee), incurred such indemnified party is a party thereto and regardless of whether such litigation is brought by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parenta third party) other than such Indemnitee and its Related Parties which any of them may pay or incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of Projects, the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by Loan hereunder; provided, that any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ legal fees and expenses shall be limited to (1) the actual reasonable out-of-pocket fees, disbursements and other charges of one (1) outside counsel for to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Issuing Lender and the Lenders, the Swing Line Banks taken as a whole (and the LC Issuing Banks(i) if necessary, (2) any one local and/or regulatory counsel in any applicable relevant material jurisdiction for to such Persons, taken as a whole) and (ii) if reasonably determined by the Administrative Agent, Agent to be needed due to differences between the Syndication Agent, the Joint Lead Arrangers, Administrative Agent and the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, additional outside law firm retained to act as special counsel to the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense Borrower shall not be obligated under this Section 10.7 to indemnify any Person for liabilities arising solely from such Person’s own gross negligence, bad faith or indemnified loss, claim, damage, liability willful misconduct or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (material breach of its express obligations under this Agreement or any such subother Loan Document as determined by a court of competent jurisdiction in a final, non-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacityappealable judgment. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower no party hereto shall not assert, and each such party hereby waives, any claim against any Indemniteeof the foregoing indemnified parties, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this AgreementAgreement or any agreement or instrument contemplated hereby, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, Credit or the use of the proceeds thereof. To The obligations of the fullest extent permitted by applicable law, no Indemnitee Borrower under this Section shall assert, and each Indemnitee hereby waives, any claim against survive the Borrower, on any theory termination of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Secured Credit Agreement (Rouse Properties, Inc.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees fees, charges and expenses disbursements of counsel for the Administrative Agent)Agent and its Affiliates, in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery administration and administration enforcement of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including the reasonable and documented fees, charges and disbursements of counsel for the Administrative Agent and its Affiliates, (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC the Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) not in limitation of the obligations under clauses (i) and (ii) above, all reasonable and documented out out-of-pocket costs and expenses (including, without limitation, the reasonable and documented fees, charges and disbursements of pocket expenses outside counsel and consultants) incurred by the Administrative Agent, any Lenderthe Left Lead Arranger, any Swing Line the Issuing Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), Lender in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or any Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances Loans or Letters of Credit; provided provided, that the Borrower shall only be required to pay the fees fees, charges and expenses for (x) one (1) disbursements of outside counsel for paid under this clause (iii) shall be limited to the reasonable and documented fees, charges and disbursements of one outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one outside counsel to the Lenders, the Swing Line Banks and the LC Issuing Bankstaken as a whole, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agentand, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) solely in the case of a an actual or perceived conflict of interest between interest, one or more additional outside counsel to all affected persons taken as a whole, and, if necessary, of one local outside counsel to the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, Agent and one local outside counsel to the Lenders, taken as a whole, in any relevant material jurisdiction to the Swing Line Banks Administrative Agent and Lenders and, solely in the LC Issuing Bankscase of an actual or perceived conflict of interest, such one additional outside local counsel to all affected persons, taken as may be reasonably necessarya whole. (b) The Borrower shall indemnify the Administrative AgentAgent (and any sub-agent thereof), each Joint the Left Lead Arranger, each Lender, each Swing Line Bank Lender and each LC the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any Person (including third party or by the Borrower or the Parent) any other than such Indemnitee and its Related Parties Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Document, or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release Release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the BorrowerParent, the Parent Borrower or any of its Subsidiariesother Loan Party, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable non-appealable judgment (1) to have resulted from (x) the gross negligence or willful misconduct of such Indemnitee or Indemnitee, (2y) to have resulted from a claim brought by the Borrower or the Parent any other Loan Party against an Indemnitee for a material breach in bad faith of such Indemnitee’s funding obligations hereunder or under any (z) a proceeding brought by an Indemnitee against another Indemnitee (other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for than a proceeding brought by an Indemnitee against the Administrative Agent, the Syndication Issuing Bank, the Swingline Lender, or any other agent, in each case in its capacity as Administrative Agent, Issuing Bank, Swingline Lender, or other agent, as applicable). No Indemnitee shall be liable for any damages arising from the Joint Lead Arrangersuse by others of any information or other materials obtained through Syndtrak, the LendersIntralinks or any other Internet or intranet website, the Swing Line Banks except as a result of such Indemnitee’s gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and the LC Issuing Banksnon-appealable judgment. (c) The Borrower shall pay, (2) any local and/or regulatory counsel in any applicable jurisdiction for and hold the Administrative Agent, the Syndication AgentIssuing Bank and each of the Lenders harmless from and against, the Joint Lead Arrangersany and all present and future stamp, the Lendersdocumentary, the Swing Line Banks and the LC Issuing Banks other similar taxes with respect to this Agreement and (3) in the case of a conflict of interest between one any other Loan Documents, any collateral described therein or more of any payments due thereunder, and save the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Issuing Bank and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply each Lender harmless from and against any and all liabilities with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising or resulting from any non-Tax claimdelay or omission to pay such taxes. (cd) To the extent that the The Borrower for any reason fails to indefeasibly pay any amount required to be paid to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph subsection (a), (b) or (bc) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoinghereof, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank, such Swing Line Bank or such Related Partythe Swingline Lender, as the case may be, such Lender’s Pro Rata Share pro rata share (in accordance with its respective Revolving Commitment (or Revolving Credit Exposure, as applicable) and Loans determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought)) of such unpaid amount; and provided, further, provided that the unreimbursed expense or indemnified losspayment, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)Agent, such LC the Issuing Bank or such Swing Line Bank the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (de) To the fullest extent permitted by applicable law, neither Parent nor the Borrower shall not assert, and each of Parent and the Borrower hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to actual or direct or actual damages) arising out of, in connection with, with or as a result of, of this Agreement, any other Loan DocumentDocument or any agreement or instrument contemplated hereby, the transactions contemplated hereby or therebytherein, any Advance Loan or any Letter of Credit, Credit or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee . (f) All amounts due under this Section shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b)payable promptly after written demand therefor.

Appears in 1 contract

Sources: Credit Agreement (LendingTree, Inc.)

Expenses; Indemnification. (a) The Borrower Company shall pay (i) all reasonable and documented out fees and expenses of pocket expenses incurred by the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates the Agents (including the reasonable and documented fees and expenses of special counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement Arrangers and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesAgents) in connection with the issuance, preparation of this Agreement (or the amendment, renewal modification or extension of any Letter of Credit or any demand for payment thereunder waiver thereof) as previously agreed upon between the Company, the Arrangers and the Agents and (iiiii) if an Event of Default occurs, all documented out of reasonable out-of-pocket expenses incurred by the Administrative AgentAgents and the Lenders, any Lender, any Swing Line Bank or any LC Issuing Bank (including the reasonable and documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for no more than (x) one counsel to the Agents (1) outside plus one local counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks in each applicable jurisdiction and the LC Issuing Banksone specialty counsel in each applicable specialty), (y) any one counsel to the Lenders (plus one local and/or regulatory counsel in any each applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks one specialty counsel in each applicable specialty) and (z) in the case of a an actual conflict of interest between interest, one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel for each group of similarly situated affected persons, taken as may be reasonably necessarya whole), in connection with such Event of Default and collection and other enforcement proceedings resulting therefrom. (b) The Borrower shall Company agrees to indemnify the Administrative Agent, each Joint Lead Arranger, each Agent and Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”; and each of the affiliates and other Persons with respect to any particular Agent or Lender, its “Related Persons”) against, and hold each Indemnitee harmless from, from and against (and to reimburse each Indemnitee on demand for) any and all claims, liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses of any kind (including including, without limitation, the reasonable and documented fees and expenses disbursements of counsel, limited to (x) one counsel for the Agents (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), (y) one counsel for the Lenders (plus one local counsel in each applicable jurisdiction and one specialty counsel in each applicable specialty), and (z) in the case of an actual conflict of interest, one additional counsel in each relevant jurisdiction for each group of similarly situated affected Indemnitees, taken as a whole) incurred by such Indemnitee in response to or in defense of any counsel for any Indemnitee)investigative, incurred by any Indemnitee administrative or asserted against any Indemnitee by any Person (including the Borrower judicial proceeding relating to or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, of this Agreement or as a result any actual or proposed use of proceeds of Loans hereunder or any related transaction; provided that no Indemnitee shall have the right to be indemnified hereunder (i) to the execution extent such indemnification relates to relationships of, between or delivery of this Agreementamong each of, any other Loan Document or any agreement or instrument contemplated hereby or therebyof, the performance by Agents, the parties hereto of their respective obligations hereunder Lenders or thereunder any Eligible Assignee or the consummation of the transactions contemplated hereby or therebyParticipant, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent Indemnitee’s or any of its SubsidiariesRelated Persons’ gross negligence, bad faith or any Environmental Proceeding willful misconduct or Environmental Liability related in any way to the Borrower, the Parent material breach by such Indemnitee or any of its Subsidiaries, Related Persons of their obligations (ivif any) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, under this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a final and non-appealable judgment of a court of competent jurisdiction or (iii) for any settlement entered into by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee without the Company’s written consent (not to be unreasonably withheld, conditioned or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessarydelayed). This Section 7.03(b) shall not apply with respect to any Indemnified Taxes, Other Taxes other than any Taxes that represent lossesor Excluded Taxes, claims, damages, etc. arising from any non-Tax claimwhich shall be covered solely by Section 8.03. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, none of the Borrower Company, the Agents and the Lenders shall not assert, and each of the Company, the Agents and the Lenders hereby waives, and acknowledges that no other Person shall have, any claim against the Company, any Indemnitee or any Indemnitee’s Related Person, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or therebyhereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that nothing contained in this waiver Section 9.04(c) shall in no way limit the BorrowerCompany’s indemnification indemnity or reimbursement obligations set forth in Section 7.03(b9.04(b) to the extent of such special, indirect, consequential or punitive damages are included in any third party claim by any Person other than the Borrower, the Parent or any in connection with which such Indemnitee or its Indemnitee’s Related Parties for any Person is entitled to indemnification hereunder. (d) All payments of fees and expenses and reimbursements by the foregoing Company pursuant to this Section 9.04 shall be made not later than 30 days (or during an Event of Default, not later than 10 Domestic Business Days) following receipt by the extent Company from the applicable Agent or Lender of an invoice setting forth in reasonable detail such claim would amounts to be covered by Section 7.03(b).paid,

Appears in 1 contract

Sources: Revolving Credit Agreement (Lockheed Martin Corp)

Expenses; Indemnification. (a) The Borrower shall pay (i) reimburse the Administrative Agent upon demand for all reasonable and documented out of out-of-pocket expenses paid or incurred by the Administrative Agent, including filing and recording costs and fees, costs of any environmental review, and consultants’ fees, travel expenses and reasonable fees, charges and disbursements of outside counsel to the Syndication AgentAdministrative Agent and/or the allocated costs of in-house counsel incurred from time to time, in connection with the Joint Lead Arrangers and their Affiliates due diligence, preparation, administration, negotiation, execution, delivery, syndication, distribution (including the reasonable via DebtX and documented fees and expenses of counsel for any other internet service selected by the Administrative Agent), review, amendment, modification, and administration of the Loan Documents, and expenses incurred in connection with assessing and responding to any subpoena, garnishment or similar process served on the Administrative Agent relating to the Borrower, any Guarantor, any Loan Document or the extensions of credit evidenced thereby. The Borrower also agrees to reimburse the Administrative Agent and the Lenders for any reasonable costs, internal charges and out-of-pocket expenses, including consultants’ fees, travel expenses and reasonable fees, charges and disbursements of outside counsel to the Administrative Agent and the Lenders (provided, that the Borrower shall not be responsible for the reasonable fees and disbursements of more than one counsel to the Lenders and any necessary local counsel (limited to one local counsel in each relevant jurisdiction) unless there is an actual or perceived conflict of interest in which case such affected Persons, taken as a whole, may retain one conflicts counsel) and/or the allocated costs of in-house counsel incurred from time to time, paid or incurred by the Administrative Agent or any Lender in connection with the syndication collection and enforcement of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall hereby further agrees to indemnify and hold harmless the Administrative Agent, each Joint Lead Arrangerthe Arrangers, each Lender, each Swing Line Bank and each LC Issuing Banktheir respective affiliates, and each Related Party of any of the foregoing Persons their directors, officers and employees, agents and advisors (each such Person being called each, an “IndemniteeIndemnified Party”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the including, without limitation, reasonable attorneys’ fees, charges and documented fees disbursements and settlement costs (including, without limitation, all expenses of litigation or preparation therefor) whether or not the Indemnified Party is a party thereto) which any counsel for any Indemnitee), incurred by any Indemnitee such Indemnified Party may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out of, in connection with, of or as a result of (i) the execution or delivery of relating to this Agreement, any the other Loan Document or any agreement or instrument contemplated hereby or therebyDocuments, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiarieshereby, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent Borrower or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby direct or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to indirect application or proposed application of the proceeds of any Indemnitee, be available Credit Extension hereunder except to the extent that such losses, claims, damages, liabilities or related costs and expenses they are determined in a final non-appealable judgment by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from (i) the gross negligence or willful misconduct of the applicable Indemnified Party, (ii) a material breach of the Loan Documents by such Indemnitee Indemnified Party or (2iii) to have resulted from a claim brought by the Borrower or the Parent disputes solely among Indemnified Parties (other than any claims against an Indemnitee for breach Indemnified Party in bad faith of such Indemnitee’s obligations hereunder its capacity or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for fulfilling its role as the Administrative Agent, Arranger or similar role under the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more Loan Documents). The obligations of the Administrative Agent, Borrower under this Section 9.6 shall survive the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This termination of this Agreement. (c) The foregoing Section 7.03(b9.6(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. losses or damages arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Agreement (Jack Henry & Associates Inc)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reasonable and documented out of out-of-pocket expenses incurred by of the Administrative AgentAgents, the Syndication AgentCustodian, the Joint Lead Arrangers Document Custodian, the Securities Intermediary and their Affiliates (including the each Lender, including, without limitation, reasonable and documented fees and disbursements of counsel (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent), the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm or counsel in each relevant jurisdiction for all similarly situated affected Persons) in connection with the syndication preparation, syndications and administration of the credit facility evidenced by this Agreement, the preparationTransaction Documents and any documents and instruments referred to therein, negotiationand further modifications or syndications of the Loans in connection therewith, execution, delivery and the administration of this Agreement and the other Loan Documents (other than the Support Agreement) Loans, any waiver or consent hereunder or any amendments, modifications amendment or waivers of the provisions modification hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), any Default; and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of out-of-pocket expenses incurred by any LC Issuing Bank Agent and any Lender (other than overhead expenses but limited, in the case of legal fees and other similar expenses) in connection with , to the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder reasonable and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented legal fees and expenses of any counsel (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any Lenderrelevant jurisdiction (which may include a single firm of counsel acting in multiple jurisdictions) and (5) in the case of any actual or perceived conflict of interest where any such Person affected by such conflict informs the Borrower of such conflict, any Swing Line Bank in each case, a single additional firm or any LC Issuing Bankcounsel in each relevant jurisdiction for all similarly situated affected Persons)), including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement or protection of its rights (A) in connection with this Agreement the Transaction Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryenforcement proceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arrangerthe Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, agents and each Related Party of any employees of the foregoing Persons (each such Person being called each, an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent (but limited, in the case of legal fees and expenses, to the reasonable and documented legal fees and expenses of (1) one law firm for the Administrative Agent and the Lenders, taken as a whole, (2) one law firm for the Document Custodian, (3) one law firm for the Collateral Agent, the Collateral Administrator and the Custodian, taken as a whole, (4) if reasonably necessary, one local counsel in any relevant jurisdiction (which may include a single firm or counsel acting in multiple jurisdictions) and (5) in the case of an actual or perceived conflict of interest where any such Indemnitee affected by such conflict informs the Borrower of such conflict, in each case, a single additional firm of counsel in each relevant jurisdiction for any Indemniteeall similarly situated affected Indemnitees), which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of, or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, or in connection withany way related to or by reason of, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby by the Transaction Documents or therebythe execution, delivery or performance of any Transaction Document, (ii) the grant to the Collateral Agent, the Lenders of any Advance or Letter of Credit or Lien, on the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit)Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any actual agreements creating any such Lien, (iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or alleged presence covenant contained in any Transaction Document or release of Hazardous Materials on any document relating to any Collateral or (vi) any loss arising from any property owned action or operated by inaction of the Borrower, the Parent Borrower or any of its Subsidiaries, Affiliates regarding the administration of any Collateral or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding otherwise relating to such Collateral (other than an Obligor’s financial inability to make payments with respect to any of the foregoingsuch Collateral) but excluding, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) noteach case, as to any Indemnitee, be available to the extent that any such losses, claimsliabilities, damages, liabilities expenses or related costs and expenses are incurred by reason of the bad faith, gross negligence or willful misconduct by such Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction by in a final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemniteedecision. The Borrower’s obligations hereunder or under any other Loan Document and (y) be limited in this Section 12.3 shall survive the case termination of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks this Agreement and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for payment of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks Obligations and the LC Issuing Banks and (3) in resignation or removal of an Agent. For the case sake of a conflict of interest between one or more of the Administrative Agentclarity, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This this Section 7.03(b) 12.3 shall not apply with respect to Taxes Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Loan and Management Agreement (Blue Owl Technology Finance Corp.)

Expenses; Indemnification. (a) The Borrower shall pay (i) all reimburse the Administrative Agent for any reasonable and documented out of costs, internal charges and out-of-pocket expenses (including reasonable and documented attorneys’ fees, but only for a single outside counsel and any necessary local counsel) paid or incurred by the Administrative Agent in connection with the preparation, negotiation, review, execution, delivery, amendment, modification and administration of the Loan Documents. The Borrower also agrees to reimburse the Administrative Agent and the Lenders for any reasonable and documented costs, internal charges and out-of- pocket expenses (including reasonable and documented attorneys’ fees but only for a single outside counsel (and, in the case that there is a conflict between the Administrative Agent and any Lender, or between any of the Lenders, of one counsel for each conflicting Lender) and any necessary local counsel) paid or incurred by the Administrative Agent or any Lender in connection with the collection and enforcement of the Loan Documents. The Borrower further agrees to indemnify the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of counsel for the Administrative Agent), in connection with the syndication of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank Arranger and each LC Issuing Bank, Lender and each Related Party of any of the foregoing Persons their respective directors, officers, affiliates, agents and employees (each such Person being called an “IndemniteeIndemnified Person”) against, and hold each Indemnitee harmless from, any and against all losses, claims, damages, penalties, judgments, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and including, without limitation, all expenses of litigation or preparation therefor whether or not the Administrative Agent, a Lender or any counsel for other Indemnified Person is a party thereto) which any Indemnitee), incurred by any Indemnitee of them may pay or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties incur arising out ofof or relating to the Loan Documents, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance the direct or Letter of Credit or the use indirect application or proposed use application of the proceeds therefrom (including of any refusal by Loan hereunder; provided, however, that the Borrower shall not be liable to any LC Issuing Bank to honor a demand Indemnified Person for payment under a Letter of Credit if the documents presented in connection with any such demand do not strictly comply with the terms of such Letter of Credit)loss, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigationdamage, investigation penalty, judgment, liability or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising expense resulting from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the Indemnified Person’s gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a successful claim brought by any of the Borrower or the Parent Loan Parties against an Indemnitee Indemnified Person for breach in bad faith of such IndemniteeIndemnified Person’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryDocument. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. claims and damages arising from any non-Tax claim. (c) To claim or described in the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacitypreceding sentence. The obligations of the Lenders Borrower under this paragraph (c) are subject to Section 10.06 shall survive the provisions termination of Section 2.21(c)this Credit Agreement. (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Term Loan Agreement (Whirlpool Corp /De/)

Expenses; Indemnification. (a) The Borrower shall pay (i) reasonable, documented out-of-pocket expenses, including the reasonable fees and expenses of one special counsel for the Administrative Agent in connection with the preparation of this Agreement and (ii) if an Event of Default occurs, all reasonable and reasonable, documented out of out-of-pocket expenses incurred by the Administrative AgentAgent and the Lenders, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees and expenses of one outside counsel for the Administrative AgentAgent and the Lenders (in addition to one local counsel in each applicable local jurisdiction if reasonably necessary as determined by the Administrative Agent and, if the Administrative Agent or one or more Lenders shall determine in good faith that there is an actual conflict between its interests and the interests of the Lenders or other Lenders, as the case may be, one additional counsel for each such Lender), in connection with the syndication such Event of the credit facility evidenced by this Agreement, the preparation, negotiation, execution, delivery Default and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses collection and other similar expenses) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including the documented fees and expenses of any counsel for the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Advance made or Letters of Credit issued hereunder, including all such out of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryproceedings resulting therefrom. (b) The Borrower shall agrees to indemnify the Administrative Agent, each Joint Lead Arranger, Agent and each Lender, each Swing Line Bank their respective affiliates and each LC Issuing Bankthe respective directors, officers, Administrative Agent and each Related Party of any employees of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, from and against any and all liabilities, losses, claims, damages, liabilities and related reasonable documented out of pocket costs and reasonable expenses (including of any kind, including, without limitation, the reasonable and reasonable, documented fees and expenses disbursements of any one outside counsel selected by the Administration Agent for the Indemnitees (in addition to one local counsel in each applicable local jurisdiction if reasonably necessary as determined by the Administrative Agent and, to the extent one or more Indemnitees shall determine in good faith that there is an actual conflict between its interests and the interests of other Indemnitees, one additional counsel for any each such Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties in response to or in defense of any investigative, administrative or judicial proceeding brought or threatened against the Administrative Agent or any Lender relating to or arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document Agreement or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use actual or proposed use of proceeds of Loans; provided that no Indemnitee shall have the proceeds therefrom right to be indemnified hereunder (including i) to the extent such indemnification relates to relationships between or among each of, or any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrowerof, the Parent Administrative Agent, the Lenders or any Assignee or Participant or (ii) for such Indemnitee’s own gross negligence or willful misconduct or any bad faith breach by such Indemnitee of any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, material obligations hereunder as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claimjurisdiction. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Credit Agreement (Martin Marietta Materials Inc)

Expenses; Indemnification. (a) The Borrower Borrowers shall pay (i) all reasonable and documented out out-of-pocket costs and expenses of pocket expenses incurred by the Administrative AgentAgent and its Affiliates, the Syndication Agent, the Joint Lead Arrangers and their Affiliates (including the reasonable and documented fees out-of-pocket fees, charges and expenses disbursements of one outside counsel for the Administrative Agent)Agent and its Affiliates, in connection with the syndication of the credit facility evidenced by this Agreementfacilities provided for herein, the preparation, negotiation, execution, delivery preparation and administration of this Agreement and the other Loan Documents (other than the Support Agreement) or and any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby in this Agreement or thereby any other Loan Document shall be consummated), including the reasonable and documented out-of-pocket fees, charges and disbursements of one outside counsel for the Administrative Agent and its Affiliates and to the extent reasonably necessary of a single local counsel to the Administrative Agent and its Affiliates in each appropriate jurisdiction (which may, if reasonably necessary, include a single special counsel acting in multiple jurisdictions) and (ii) without duplication of any fees separately agreed to by the Borrower, all reasonable and documented out out-of-pocket costs and expenses (including, without limitation, the reasonable and documented out-of-pocket fees, charges and disbursements of pocket expenses incurred by any LC Issuing Bank (other than overhead expenses and other similar expensesoutside counsel) in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out of pocket expenses incurred by the Administrative Agent, any Lender, any Swing Line Bank or any LC Issuing Bank (including Agent and the documented fees Lenders and expenses to the extent reasonably necessary of any a single local counsel for to the Administrative AgentAgent and the Lenders in each appropriate jurisdiction (which may, any Lenderif reasonably necessary, any Swing Line Bank include a single special counsel acting in multiple jurisdictions) and in the event of an actual or any LC Issuing Bank)perceived conflict of interest, of additional counsel to the affected parties, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan DocumentsAgreement, including its rights under this Section, or (B) in connection with the Advance Loans made or Letters of Credit issued hereunder, including all such out of out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Advances or Letters of Credit; provided that the Borrower shall only be required to pay the fees and expenses for (x) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (y) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (z) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessaryLoans. (b) The Borrower shall indemnify the Administrative Agent, each Joint Lead Arranger, each Lender, each Swing Line Bank and each LC Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related reasonable documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or the Parent) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Advance or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any LC Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower, the Parent or any of its Subsidiaries, or any Environmental Proceeding or Environmental Liability related in any way to the Borrower, the Parent or any of its Subsidiaries, (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, the Parent or any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto, or (v) any claim (including any claim arising from an Environmental Proceeding or Environmental Liability), investigation, litigation or other proceeding (whether or any Indemnitee is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Advances, this Agreement, any other Loan Document, or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including reasonable and documented attorneys’ fees; provided that such indemnity shall (x) not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined by a court of competent jurisdiction by final and nonappealable judgment (1) to have resulted from the gross negligence or willful misconduct of such Indemnitee or (2) to have resulted from a claim brought by the Borrower or the Parent against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document and (y) be limited in the case of attorneys’ fees and expenses to (1) one (1) outside counsel for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, (2) any local and/or regulatory counsel in any applicable jurisdiction for the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks and (3) in the case of a conflict of interest between one or more of the Administrative Agent, the Syndication Agent, the Joint Lead Arrangers, the Lenders, the Swing Line Banks and the LC Issuing Banks, such additional counsel as may be reasonably necessary. This Section 7.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any LC Issuing Bank, any Swing Line Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such LC Issuing Bank, such Swing Line Bank or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the aggregate outstanding Commitments, or if there are no Commitments outstanding, the outstanding principal amount of the Advances, at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to any LC Issuing Bank or Swing Line Bank solely in its capacity as such, only the Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Lenders’ Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); and provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such LC Issuing Bank or such Swing Line Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such LC Issuing Bank or any such Swing Line Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.21(c). (d) To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof. To the fullest extent permitted by applicable law, no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against the Borrower, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, the transactions contemplated hereby or thereby, any Advance or Letter of Credit, or the use of the proceeds thereof; provided that this waiver shall in no way limit the Borrower’s indemnification obligations in Section 7.03(b) to the extent of any claim by any Person other than the Borrower, the Parent or any Indemnitee or its Related Parties for any of the foregoing to the extent such claim would be covered by Section 7.03(b).

Appears in 1 contract

Sources: Revolving Credit Agreement (Cowen Group, Inc.)