Common use of Servicer Indemnity Clause in Contracts

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders and the Indenture Trustees, and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Transfer Agreement (Asset Backed Securities Corp), Transfer Agreement (NCT Funding Co LLC)

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Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Cit Ec Ef 2001-A), Pooling and Servicing Agreement (Cit Equipment Collateral 2003-Ef1), Pooling and Servicing Agreement (Cit Equipment Collateral 2001-1)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or the Indenture Trustee, as the case may be, or any of them, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (NCT Funding Co LLC)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee Trustees, or Indenture Trustee, as the case may beany of them, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2003-Vt1), Pooling and Servicing Agreement (Cit Equipment Collateral 2001-1), Pooling and Servicing Agreement (NCT Funding Co LLC)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture Trustees, and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2000-1), Pooling and Servicing Agreement (Cit Equipment Collateral 2000-2)

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Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Ef1)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2008-Vt1), Pooling and Servicing Agreement (Cit Equipment Collateral 2006-Vt2)

Servicer Indemnity. The Servicer will indemnify the Depositor, the Trust, the Securityholders Noteholders, the Equity Certificateholder and the Indenture TrusteesTrustees (including in their respective individual capacities), and any of their officers, directors, employees or agents (each an "Indemnified Party") from and against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, fees and expenses that any Indemnified Party may sustain in connection with claims asserted by third parties against such Indemnified Party which result from any act or omission on the part of the Servicer with respect to the Trust Assets or its duties and obligations under this Pooling Agreement, except where such claims arise out of any willful misconduct, gross negligence or bad faith on the part of such Indemnified Party. Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or Indenture Trustee, as the case may be, and the termination of the Trust Agreement or this Pooling Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC)

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