Common use of Indemnity For Check Images And Substitute Checks Clause in Contracts

Indemnity For Check Images And Substitute Checks. Phoenix agrees to indemnify, defend, and hold harmless PFPC, its Agent and their respective officers, directors, employees and agents for all Losses arising out of or related to any action taken by PFPC or Agent to process a Check Image or Substitute Check instead of the original Check, including the destruction of the original Check, to the extent permitted by applicable law.