Common use of Indemnification; Exoneration Clause in Contracts

Indemnification; Exoneration. (i) In addition to all other amounts payable to an Issuing Bank, the Borrower hereby agrees to defend, indemnify, and save each Administrative Agent, each Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' fees but excluding taxes) which such Administrative Agent, such Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit to the Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (B) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 3 contracts

Samples: Credit Agreement (Foamex Capital Corp), Credit Agreement (Foamex Capital Corp), Credit Agreement (Foamex Capital Corp)

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Indemnification; Exoneration. (i) In addition to all other amounts payable to an Issuing Bank, the Borrower Borrowers, jointly and severally, hereby agrees agree to defend, indemnify, and save each Administrative the Agent, each Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' fees but excluding taxes) which such Administrative the Agent, such Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit to the Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (B) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Timco Aviation Services Inc), Credit Agreement (Aviation Sales Co)

Indemnification; Exoneration. (iA) In addition to all other amounts payable to an Issuing Bank, the each Borrower hereby agrees to defend, indemnify, and save each the Administrative Agent, each Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' ’ fees but excluding taxes) which such the Administrative Agent, such Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (Ai) the issuance Issuance of any Letter of Credit to the Borrower Issued by such Issuing Bank other than as a result of the gross negligence or willful misconduct of the such Issuing Bank, as determined by a court of competent jurisdiction, jurisdiction or (Bii) the failure of the such Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 1 contract

Samples: Credit Agreement (It Group Inc)

Indemnification; Exoneration. (iA) In addition to all other amounts payable to an Issuing Bank, the Borrower hereby agrees to defend, indemnify, and save each the Administrative Agent, each the Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' fees but excluding net income taxes) which such the Administrative Agent, such the Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (Ai) the issuance Issuance of any Letter of Credit to the Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (Bii) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Stellex Technologies Inc)

Indemnification; Exoneration. (iA) In addition to all other amounts payable to an the Issuing Bank, the Borrower or the applicable Subsidiary hereby agrees to defend, indemnify, and save each the Administrative Agent, each the Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' ’ fees but excluding taxes) which such the Administrative Agent, such the Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (Ai) the issuance Issuance of any Letter of Credit to the Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (Bii) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Watson Pharmaceuticals Inc)

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Indemnification; Exoneration. (i) In addition to all other amounts payable to an Issuing Bank, the each Borrower hereby agrees to defend, indemnify, and save each Administrative Agent, each Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' fees but excluding taxes) which such Administrative Agent, such Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit to the such Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (B) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Foamex International Inc)

Indemnification; Exoneration. (i) In addition to all other amounts payable to an Issuing Bank, the Borrower hereby agrees to defend, indemnify, and save each the Administrative Agent, each Issuing Bank and each Lender harmless from and against any and all claims, demands, liabilities, penalties, damages, losses (other than loss of profits), costs, charges and expenses (including reasonable attorneys' fees but excluding taxes) which such the Administrative Agent, such Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit to the Borrower other than as a result of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (B) the failure of the Issuing Bank issuing a Letter of Credit to honor a drawing under such Letter of Credit as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.

Appears in 1 contract

Samples: Credit Agreement (Rhi Holdings Inc)

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