Common use of MFSA Clause in Contracts

MFSA. The MFSA is party to this Agreement only for the purpose of ensuring the enforceability of the provisions of this Agreement and to satisfy itself that the relevant requirements of the financial resources are met. The MFSA does not have any duty towards and has no obligation of any nature to the other creditors of the Borrower. Both the Lender and the Borrower hereby indemnify the MFSA against all claims, losses, costs, expenses and other liabilities made against or incurred by the MFSA as a consequence of the MFSA being a party to this Agreement as aforesaid or of taking any action hereunder.

MFSA. The MFSA is party to this Agreement only for the purpose of ensuring the enforceability of the provisions of this Agreement and so as to satisfy itself that the relevant requirements of the financial resources are met. The met and the MFSA does is not, and shall not be deemed to be under any duty to, or to have any duty towards and has no obligation of any nature to to, the other creditors of the Borrower. Both the Lender and the Borrower hereby indemnify the MFSA against all claims, losses, costs, expenses and other liabilities made against or incurred by the MFSA as a consequence any of the MFSA being a party to this Agreement as aforesaid or of taking any action hereunderthem.