Common use of Exchange Rate Indemnity Clause in Contracts

Exchange Rate Indemnity. The Issuer shall indemnify the Trustee, every Appointee and the Noteholders and keep them indemnified against:‌ (a) any Liability incurred by any of them arising from the non-payment by the Issuer and the Guarantor of any amount due to the Trustee or the holders of the Notes under this Trust Deed by reason of any variation in the rates of exchange between those used for the purposes of calculating the amount due under a judgment or order in respect thereof and those prevailing at the date of actual payment by the Issuer; and (b) any deficiency arising or resulting from any variation in rates of exchange between (i) the date as of which the local currency equivalent of the amounts due or contingently due under this Trust Deed (other than this Clause) or the Agency Agreement is calculated for the purposes of any bankruptcy, insolvency or liquidation of an Issuer and (ii) the final date for ascertaining the amount of claims in such bankruptcy, insolvency or liquidation. The amount of such deficiency shall be deemed not to be reduced by any variation in rates of exchange occurring between the said final date and the date of any distribution of assets in connection with any such bankruptcy, insolvency or liquidation.