Common use of Where an Event Clause in Contracts

Where an Event. of Default occurs, the Borrower shall also make payment of interest to the Banks and/or the Agent in respect of any amounts due and outstanding, calculated from the date that such amounts becomes due until such time that the amounts are actually paid; and if any Bank and/or the Agent incurs any other costs or direct losses as a result of such default, the Borrower shall also indemnify such Bank and/or Agent for and against such costs or losses (such Bank or Agent shall provide relevant evidence). Unless otherwise provided herein, the Borrower shall not be liable to the Bank or its employees or affiliates for any indirect damages, loss of profit or punitive damages.