Common use of Trustee Indemnity Clause in Contracts

Trustee Indemnity. The Fund shall indemnify and save harmless the Trustees, and any person selected to act as a Trustee by a Party, their employees, assigns, executors, heirs and each of them, of, from and against any loss, expense, claim, demand, action or thing of any nature whatsoever, arising out of the establishment of the Trust and a Plan, and the performance or purported performance of their duties or responsibilities hereunder except that this indemnity shall not, in any way, extend so as to protect any Trustee or person selected to act as Trustee (or any of their respective employees, assigns, executors or heirs) with respect to any matter or thing arising out of his or her own dishonesty, wilful misconduct or gross negligence.