Common use of Borrower’s Indemnity Clause in Contracts

Borrower’s Indemnity. The Borrower undertakes to indemnify: 23.1.1 each Finance Party against any reasonable cost, claim, loss, expense (including legal fees) or liability together with any VAT thereon, whether or not reasonably foreseeable, which it may sustain or incur as a consequence of the occurrence of any Event of Default or any default by an Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; 23.1.2 the Agent against any reasonable cost or loss it may suffer or incur as a result of its entering into, or performing, any foreign exchange contract for the purposes of Clause 25 (Payments); and 23.1.3 each Bank against any reasonable cost or loss it may suffer under Clause 21.5 (Banks’ Liabilities for Costs) or Clause 28.5 (Indemnification).