Common use of Indemnification for Reporting Clause in Contracts

Indemnification for Reporting. Seller understands and acknowledges that Angel Oak may report information about any Loan or Mortgage Loan Document that Angel Oak believes to contain misrepresentations or violates Applicable Law to the appropriate governmental body or regulatory agency, ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇, HUD or any mortgage industry background database, including, but not limited to, databases operated by Mortgage Asset Research Institute, Inc., such as the Mortgage Industry Date Exchange (“MIDEX”) or any cooperative industry database. Seller acknowledges that Seller and any owner, officer, agent or employee may be named as the originating entity, loan originator or creditor on any such Loan. Seller acknowledges the importance of ▇▇▇▇▇ ▇▇▇’s right and necessity to disclose such information. Seller, for itself and its directors, officers and employees and their respective successors and assigns and Mortgage Asset Research Institute, Inc., indemnifies and holds Angel Oak and its officers, directors, employees, shareholders, representatives, successors, assigns, agents and affiliates from any and all damage, loss, liability, cost, actions, causes of action, claims, demands and expenses both direct and indirect (including without limitation reasonable legal and accounting fees and expenses actually incurred) that may arise from the reporting or use by any database subscriber or any governmental body or agency of any information submitted by Angel Oak with respect to Seller and any owner, officer, agent or employee to any mortgage industry database, including MIDEX.

Indemnification for Reporting. Seller Broker understands and acknowledges that Angel Oak may report information about any Loan or Mortgage Loan Document Package that Angel Oak believes to contain misrepresentations or violates Applicable Law to the appropriate governmental body or regulatory agency, ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇Mac, HUD or any mortgage industry background database, including, but not limited to, databases operated by Mortgage Asset Research Institute, Inc., such as the Mortgage Industry Date Exchange (“MIDEX”) or any cooperative industry database. Seller Broker acknowledges that Seller Broker and any owner, officer, agent or employee may be named as the originating entity, entity or loan originator or creditor on any such Loan. Seller Broker acknowledges the importance of ▇▇▇▇▇ ▇▇▇Angel Oak’s right and necessity to disclose such information. SellerBroker, for itself and its directors, officers and employees and their respective successors and or assigns and Mortgage Asset Research Institute, Inc., indemnifies and holds Angel Oak and its officers, directors, employees, shareholders, representatives, successors, assigns, agents and affiliates from any and all damage, loss, liability, cost, actions, causes of action, claims, demands and expenses or expense both direct and indirect (including without limitation reasonable legal and accounting fees and expenses actually incurred) that may arise from the reporting or use by any database subscriber or any governmental body or agency of any information submitted by Angel Oak with respect to Seller Broker and any owner, officer, agent or employee to any mortgage industry database, including MIDEXincludingMIDEX.