Trustee's Indemnification definition
Trustee's Indemnification means sufficient funds, in the opinion of the Trustee, to commence, continue and carry out any act, action or proceedings and an indemnity in the following form, unless the Trustee and the indemnifying party agree otherwise: All uses of the words "hereto", "herein", "hereof, "hereby" and "hereunder" and similar expressions refer to this Security Agreement and not to any particular section or portion of it. All references to Persons herein shall include their respective successors and assigns.
Trustee's Indemnification means sufficient funds, in the opinion of the Trustee, to commence, continue and carry out any act, action or proceeding and an indemnity satisfactory to the Trustee to protect and hold harmless the Trustee from and against all costs, charges, expenses and liabilities that it might incur as a result of any such act, action or proceeding and any loss and damage it may sustain by reason thereof.
Examples of Trustee's Indemnification in a sentence
The obligation of the Trustee to commence or continue any act, action or proceedings for the purpose of realizing upon the Security Interest pursuant to the terms of any applicable law or this Security Agreement or for the enforcement of any covenant or obligation under or arising under this Security Agreement or the Debentures shall, at the option of the Trustee, be conditional upon the Debentureholders furnishing, when required in writing by the Trustee, the Trustee's Indemnification.