Common use of Reimbursement and indemnity by Lenders Clause in Contracts

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 7 contracts

Samples: Navios Maritime Partners L.P., Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Acquisition CORP)

AutoNDA by SimpleDocs

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 5.4 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 3 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Acquisition CORP), www.lw.com

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.5 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: EuroDry Ltd., Euroseas Ltd.

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 5.4 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Account Bank, the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Account Bank, the Agent and/or the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Account Bank, the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Account Bank’s, the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Acquisition CORP), Navios Maritime Acquisition CORP

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee Trustee, the Agent and the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee Trustee, the Agent or the Payment Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee Agent or the Payment Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee Trustee, the Agent or the Payment Agent by a Lender under this clause the Security Trustee Trustee, the Agent or the Payment Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee Trustee, the Agent or the Payment Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee Trustee, the Agent or the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee or the Agent in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee Trustee, the Agent or, as the case may be, the Payment Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s, the Agent’s or as the case may be, the Payment Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement, Agreement (Navios Maritime Partners L.P.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance Tranche or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance Tranche or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Navios Maritime Holdings Inc.

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Navios Maritime Acquisition CORP

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee Agent and the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee Agent or the Payment Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee Agent or the Payment Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee Agent or the Payment Agent by a Lender under this clause the Security Trustee Agent or the Payment Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee Agent or the Payment Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee Agent or the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee Agent in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee Agent or, as the case may be, the Payment Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security TrusteeAgent’s or as the case may be, the Payment Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee Agent and the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee Agent or the Payment Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee Agent or the Payment Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee Agent or the Payment Agent by a Lender under this clause the Security Trustee Agent or the Payment Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee Agent or the Payment Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee Agent or the Payment Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee Agent in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee Agent or, as the case may be, the Payment Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security TrusteeAgent’s or as the case may be, the Payment Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Navios Maritime Partners L.P.

AutoNDA by SimpleDocs

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or or, as the case may be, the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or or, as the case may be, the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or or, as the case may be, the Agent by a Lender under this clause the Security Trustee or or, as the case may be, the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or or, as the case may be, the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or or, as the case may be, the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee or, as the case may be, the Agent in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or or, as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 5.2 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee Agent in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, Agent under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Private and Confidential (Navios Maritime Holdings Inc.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Lead Arrangers, the Security Trustee and the Agent Agents (rateably in accordance with such Lender’s Commitment or's Commitment, after at any time before the making of the first Advance or the Loan has been drawnif no Advance is then outstanding, its or Contribution,, at any other time) to the extent that such Lead Arranger, the Security Trustee or the such Agent is not reimbursed by the Borrowersany Borrower, for the costs, charges and expenses incurred by such Arranger, the Security Trustee and such Agent in connection with the negotiation, preparation, syndication and execution of this Agreement and/or in contemplation of, or otherwise in connection with, the enforcement of, or the Agent which are expressed to be payable by preservation of any rights under, or in carrying out its duties under, this Agreement and/or the Borrowers under clause 5.3 Security Documents including (in each case), without limitation, ) the fees and expenses of legal or other professional advisers provided that, if following any payment to advisers. Each Lender shall indemnify the Agents and the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or's Commitment, after at any time before the making of the first Advance or the Loan has been drawnif no Advance is then outstanding, its or Contribution, at any other time) against all liabilities, damages, costs and claims whatsoever incurred by the Agents or the Security Trustee (as the case may be) in connection with any of this Agreement and/or the Security Documents or any document or report referred to in this Agreement or the performance of its duties under any of this Agreement and/or the Security Documents or any action taken or omitted by the Agents or the Security Trustee or, (as the case may be, the Agent, ) under any of this Agreement and/or the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s UK Agent or (as the case may be, ) the Agent’s US Agent or the Security Trustee's (as the case may be) own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Telewest Communications PLC /New/

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers Borrower under clause 5.3 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers Borrower in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Facility Agreement (Pyxis Tankers Inc.)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee or the Agent which are expressed to be payable by the Borrowers under clause 5.3 5.4 including (in each case), 77 without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Agreement (Navios Maritime Acquisition CORP)

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Security Trustee Trustee, the Payment Agent and the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution,) to the extent that the Security Trustee Trustee, the Payment Agent or the Agent is not reimbursed by the Borrowers, for the costs, charges and expenses incurred by the Security Trustee Trustee, the Payment Agent or the Agent which are expressed to be payable by the Borrowers under clause 5.3 including (in each case), without limitation, the fees and expenses of legal or other professional advisers provided that, if following any payment to the Security Trustee Trustee, the Payment Agent or the Agent by a Lender under this clause the Security Trustee Trustee, the Payment Agent or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee Trustee, the Payment Agent or the Agent (rateably in accordance with such Lender’s Commitment or, after the first Advance or the Loan has been drawn, its Contribution) against all liabilities, damages, costs and claims whatsoever incurred by the Security Trustee in connection with any of the Security Documents or the performance of its duties under any of the Security Documents or any action taken or omitted by the Security Trustee or, as the case may be, the Payment Agent or the Agent, under any of the Security Documents, unless such liabilities, damages, costs or claims arise from the Security Trustee’s or as the case may be, the Payment Agent’s or the Agent’s own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

Reimbursement and indemnity by Lenders. Each Lender shall reimburse the Lead Arrangers, the Security Trustee and the Agent (rateably in accordance with such Lender’s Commitment orCommitment, after at any time before the making of the first Advance or the Loan has been drawnif no Advance is then outstanding, its or Contribution,, at any other time) to the extent that such Lead Arranger, the Security Trustee or the Agent is not reimbursed by the BorrowersBorrower, for the costs, charges and expenses incurred by such Arranger, the Security Trustee and the Agent in connection with the negotiation, preparation, syndication and execution of this Agreement and/or in contemplation of, or otherwise in connection with, the enforcement of, or the Agent which are expressed to be payable by preservation of any rights under, or in carrying out its duties under, the Borrowers under clause 5.3 Finance Documents including (in each case), without limitation, ) the fees and expenses of legal or other professional advisers provided that, if following any payment to advisers. Each Lender shall indemnify the Agent and the Security Trustee or the Agent by a Lender under this clause the Security Trustee or the Agent receives payment from the Borrowers in respect of the same costs, fees or expenses, the Security Trustee or the Agent shall upon receipt thereof reimburse the relevant Lender. Each Lender must on demand indemnify the Security Trustee or the Agent (rateably in accordance with such Lender’s Commitment orCommitment, after at any time before the making of the first Advance or the Loan has been drawnif no Advance is then outstanding, its or Contribution, at any other time) against all liabilities, damages, costs and claims whatsoever incurred by the Agents or the Security Trustee (as the case may be) in connection with the Finance Documents or any of document or report referred to in the Security Finance Documents or the performance of its duties under any of the Security Finance Documents or any action taken or omitted by the Agent or the Security Trustee or, (as the case may be, ) under the Agent, under any of the Security Finance Documents, unless such liabilities, damages, costs or claims arise from the Agent’s or the Security Trustee’s or (as the case may be, the Agent’s ) own gross negligence or wilful misconduct.

Appears in 1 contract

Samples: Loan Agreement (Telewest Global Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.