Common use of Exceptions to Indemnity Clause in Contracts

Exceptions to Indemnity. The indemnity provided for in sub-clause 10.7.2 does not extend to any of the following Taxes: 10.7.3.1 Taxes that are based on or measured by net income, capital or net worth or capital stock, capital adequacy, reserves or that are excess profits Taxes, minimum or alternative minimum Taxes, accumulated earnings Taxes, personal holding company taxes or franchise Taxes; 10.7.3.2 Taxes that are solely the result of activities of the Lessor in a jurisdiction imposing such Tax which activities are unrelated to the transactions contemplated by this Agreement, any Contracts made hereunder or the operation of the Supplies; 10.7.3.3 Taxes resulting from any voluntary or involuntary sale, assignment, transfer or other disposition by the lessor of any interest in the Supplies or any part thereof, this Agreement or any interests or obligations arising under this Agreement or any contracts made hereunder other than, in each case, a sale, assignment, transfer or other disposition that arises as a result of or in connection with the exercise of the Lessor’s remedies relating to an Event of Default; 10.7.3.4 Taxes attributable to the period prior to the delivery of the Supplies to the Lessee or after the re-delivery of the Supplies to the Lessor; 10.7.3.5 Taxes that are the result of any Lessor Lien; or 10.7.3.6 Taxes directly attributable to the Lessor’s negligence or willful misconduct.