Common use of Further Limitation Clause in Contracts

Further Limitation. Notwithstanding any provision of this Agreement to the contrary, the Agency shall not be obligated to take any action pursuant to any provision hereof unless (1) the Agency shall have been requested to do so in writing by the Real Estate Holding Company and/or the Operating Company, and (2) if compliance with such request is reasonably expected to result in the incurrence by the Agency (or any of its members, officers, agents, servants or employees) of any liability, fees, expenses (including, without limitation, attorneys’ fees and expenses) or other costs, the Agency shall have received from the Real Estate Holding Company and/or the Operating Company security or indemnity and an agreement from the Real Estate Holding Company and/or the Operating Company to defend and hold harmless the Agency satisfactory to the Agency for protection against all such liability, however remote, and for the reimbursement of all such fees, expenses and other costs.

Appears in 1 contract

Sources: Payment in Lieu of Tax Agreement

Further Limitation. Notwithstanding any provision of this Agreement to the contrary, the Agency shall not be obligated to take any action pursuant to any provision hereof unless (1) the Agency shall have been requested to do so in writing by the Real Estate Holding Company Owner and/or the Operating Company, and (2) if compliance with such request is reasonably expected to result in the incurrence by the Agency (or any of its members, officers, agents, servants or employees) of any liability, fees, expenses (including, without limitation, attorneys’ fees and expenses) or other costs, the Agency shall have received from the Real Estate Holding Company Owner and/or the Operating Company security or indemnity and an agreement from the Real Estate Holding Company Owner and/or the Operating Company to defend and hold harmless the Agency satisfactory to the Agency for protection against all such liability, however remote, and for the reimbursement of all such fees, expenses and other costs.

Appears in 1 contract

Sources: Payment in Lieu of Tax Agreement