Indemnity to the Trustee Clause Samples

The "Indemnity to the Trustee" clause serves to protect the trustee from personal liability arising from actions taken in good faith while performing their duties under the trust agreement. Typically, this clause ensures that the trust's assets will be used to reimburse the trustee for any costs, losses, or legal expenses incurred as a result of carrying out their responsibilities, provided they have not acted negligently or fraudulently. Its core practical function is to encourage individuals or institutions to act as trustees by mitigating the financial risks associated with the role, thereby ensuring the effective administration of the trust.
Indemnity to the Trustee. The Borrower shall promptly indemnify the Trustee and every Receiver and Delegate against any reasonably incurred cost, loss or liability incurred by any of them as a result of: (a) the protection or enforcement of the Transaction Security; (b) the exercise of any of the rights, powers, discretions and remedies vested in the Trustee and Delegate by the Finance Documents or by law; and (c) any default by the Borrower in the performance of any of the obligations expressed to be assumed by it in the Finance Documents. The Trustee may, in priority to any payment to the Secured Parties, indemnify itself out of the Cash Collateral in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this clause 20.4 and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security for all moneys payable to it.
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Indemnity to the Trustee. (a) The Borrower shall promptly indemnify the Trustee and every Receiver and Delegate against any cost, loss or liability incurred by any of them as a result of: (i) the taking, holding, protection or enforcement of the Transaction Security; (ii) the exercise of any of the rights, powers, discretions and remedies vested in the Trustee and each Receiver and Delegate by the Finance Documents or by law; and (iii) any default by an Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents. (b) The Trustee may, in priority to any payment to the Secured Parties, indemnify itself out of the Secured Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in paragraph (a) above and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security for all moneys payable to it.
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Indemnity to the Trustee. (a) The Issuer shall promptly (and, in any event, within three (3) Business Days of demand) indemnify the Trustee against any cost, loss or liability incurred as a result of: (i) investigating any event which the Trustee reasonably believes to be a Default; (ii) acting or relying on any notice which the Trustee reasonably believes to be genuine, correct and appropriately authorised; or (iii) instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as permitted under this Agreement. (b) This indemnity given by the Issuer under or in connection with this Agreement is a continuing obligation, independent of the relevant Issuer's other obligations under or in connection with this Agreement or any other Finance Document and survives after this Agreement or that Finance Document is terminated.
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Indemnity to the Trustee. 22.1 The Trustee will be entitled to receive indemnity from the debenture holders and/or from the Company in respect of reasonable expenses it incurred and/or may in the future incur in connection with acts it has performed or is obliged to perform by virtue of its obligation under the terms and conditions of this clause, and/or according to law and/or a directive of a competent authority and/or any statute and/or on a demand by the debenture holders and/or at the request of the Company. If the Company does not provide such indemnity within 60 days from the date of the Trustee’s demand, the debenture holders will indemnify the Trustee in respect of reasonable expenses it has incurred and/or may incur as aforesaid, in connection with actions it has performed or is obliged to perform in accordance with the demands by the debenture holders. Notwithstanding the foregoing, it is hereby clarified and agreed that: 22.1.1 The Trustee will not be entitled to demand such indemnity in advance, on an urgent matter that cannot be postponed. 22.1.2 The Trustee will be entitled to indemnity in respect of liability in tort, in a case in which it is held liable for such liability under a final judgment or under a compromise that has been concluded with a third party. Note: Electrum-XZC is derived from Electrum and uses different seed phrase criteria, so it cannot be imported. Electrum LTC Wallet is a desktop-based cryptocurrencies wallet that supports Litecoin. Here are some aspects of wallets: Like its predecessor, Electrum- Bitcoin Wallet, open source wallets can be found on GitHub, where anyone can view or upgrade codes. In this demo, Electrum developer ▇▇▇▇▇ ▇▇▇▇▇▇▇ shows how to set up and use an Electrum personal server. Bitcoin desktop wallet client Electrum has released a 4.0 beta version, adding several important updates, including support for the Lightning network, nearly a year after the previous version of Electrum, 3.3.8 (last July). In the 4.0 beta version, Electrum mainly added features such as PSBT (partially signed Bitcoin transactions), Lightning Network, watchtowers ( watchtowers) and Submarineswaps (subliminal switching). (Github) In August-September, Bitcoin wallet Electrum was hacked twice, and according to multiple sources, at least 1,450 BTCs worth $11.6 million were stolen from phishing attacks that faked Electrum upgrade tips. Users of cryptocurrencies wallets Electrum and MyEtherWallet are now facing phishing attacks, according to posts posted on ...
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Indemnity to the Trustee. The Issuer shall indemnify the Trustee (a) in respect of all liabilities and expenses incurred by it or by any Appointee or other person appointed by it to whom any trust, power, authority or discretion may be delegated by it in the execution or purported execution of the trusts, powers, authorities or discretions vested in it by this Trust Deed and (b) against all liabilities, actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted in any way relating to this Trust Deed provided that it is expressly stated that Clause 6.1.14 (Trustee Liability) shall apply in relation to these provisions and that the Trustee had exercised reasonable care in the appointment of such person, provided that such indemnity of the Issuer shall not exceed BDT 100,000 in the case of expenses and BDT 100,000 in the case of all other matters;
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Indemnity to the Trustee. Except for its act of negligence, willful misconduct or a breach of it duties under the Trust Indenture Legislation, the Trustee shall not be liable for any act done or step taken or omitted by it in good faith, or for any mistake of fact or law and the Corporation and the Guarantor agree jointly and severally to indemnify and save harmless the Trustee from and against all claims, demands, actions, suits or other proceedings by whomsoever made, prosecuted or brought and from all loss, costs, damages and expenses in any manner based upon, occasioned by or attributed to any act of the Trustee in the execution of its duties hereunder. It is understood and agreed that this indemnification shall survive the termination of this Indenture and the resignation or removal of the Trustee.
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Indemnity to the Trustee. Except for its act of gross negligence or wilful misconduct, the Trustee shall not be liable for any act done or step taken or omitted by it in good faith, or for any mistake of fact or law and the Company agrees to indemnify and save harmless the Trustee from and against all claims, demands, action, suits or other proceedings by whomsoever made, prosecuted or brought and from all losses, costs, damages and expenses in any manner based upon, occasioned by or attributable to any act of the Trustee in the execution of its duties hereunder. It is understood and agreed that this indemnification shall survive the termination of this indenture.
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Indemnity to the Trustee. (a) Each Obligor shall (subject to Clause 18.9(a) (CONFIRMATIONS AND RESTRICTIONS) in respect of Swedish Obligors) promptly indemnify the Trustee and every Receiver and Delegate against any cost, loss or liability directly incurred by any of them as a result of: (i) the taking, holding, protection or enforcement of the Transaction Security, (ii) the exercise of any of the rights, powers, discretions and remedies vested in the Trustee and each Receiver and Delegate by the Finance Documents or by law; and (iii) any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents, except to the extent the same arises from negligence or default of the respective Trustee, Receiver or Delegate.
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Indemnity to the Trustee. 22.1 The Trustee will be entitled to receive indemnity from the debenture holders and/or from the Company in respect of reasonable expenses it incurred and/or may in the future incur in connection with acts it has performed or is obliged to perform by virtue of its obligation under the terms and conditions of this clause, and/or according to law and/or a directive of a competent authority and/or any statute and/or on a demand by the debenture holders and/or at the request of the Company. If the Company does not provide such indemnity within 60 days from the date of the Trustee’s demand, the debenture holders will indemnify the Trustee in respect of reasonable expenses it has incurred and/or may incur as aforesaid, in connection with actions it has performed or is obliged to perform in accordance with the demands by the debenture holders. Notwithstanding the foregoing, it is hereby clarified and agreed that: 22.1.1 The Trustee will not be entitled to demand such indemnity in advance, on an urgent matter that cannot be postponed. 22.1.2 The Trustee will be entitled to indemnity in respect of liability in tort, in a case in which it is held liable for such liability under a final judgment or under a compromise that has been concluded with a third party. 22.2 The right of indemnity referred to in Clause 22.1 above is subject to the following conditions: 22.2.1 The expenses in respect of liability for damage are reasonable. 22.2.2 The Trustee acted in good faith and in the course of exercising reasonable discretion, and such action was performed in the scope of fulfilling its function, in accordance with the provisions of the law and according to this Deed of Trust, and the Trustee was not guilty of gross negligence. 22.2.3 Such right of indemnity will not apply in respect of reasonable expenses that were paid to the Trustee in accordance with Clause 19 above. 22.3 Subject to the provisions of Clauses 22.1 and 22.2 above, and without prejudice to the rights to compensation and indemnity that are granted to the Trustee according to the law and/or the commitments of the Company and the debenture holders under this Deed, the Trustee, its authorized attorney, manager, agent or other person appointed by the Trustee in conformity with this Deed, are entitled to receive indemnity out of moneys that will be received by the Trustee as a consequence of proceedings it has instituted and/or in another manner in accordance with this Deed, in connection with reasonable oblig...
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Related to Indemnity to the Trustee

  • Indemnification of the Trustee (a) The Servicer agrees to indemnify the Indemnified Persons for, and to hold them harmless against, any loss, liability or expense (including reasonable legal fees and disbursements of counsel) incurred on their part that may be sustained in connection with, arising out of, or relating to, any claim or legal action (including any pending or threatened claim or legal action) relating to this Agreement or the Certificates or the powers of attorney delivered by the Trustee hereunder (i) related to the Servicer's failure to perform its duties in compliance with this Agreement (except as any such loss, liability or expense shall be otherwise reimbursable pursuant to this Agreement) or (ii) incurred by reason of the Servicer's willful misfeasance, bad faith or gross negligence in the performance of duties hereunder or by reason of reckless disregard of obligations and duties hereunder, provided, in each case, that with respect to any such claim or legal action (or pending or threatened claim or legal action), the Indemnified Person shall have given the Servicer and the Depositor written notice thereof promptly after the Indemnified Person shall have with respect to such claim or legal action knowledge thereof. The Trustee's failure to give any such notice shall not affect the Indemnified Person's right to indemnification hereunder, except to the extent the Servicer is materially prejudiced by such failure to give notice. This indemnity shall survive the resignation or removal of the Servicer or the Trustee and the termination of this Agreement. (b) The Depositor will indemnify any Indemnified Person for any loss, liability or expense of any Indemnified Person not otherwise covered by the Servicer's indemnification pursuant to Section 7.03(a).

  • Notice to the Trustee If the Company elects to redeem Securities of any series pursuant to this Indenture, it shall notify the Trustee of the Redemption Date and the principal amount of Securities of such series to be redeemed. The Company shall so notify the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee) by delivering to the Trustee an Officers’ Certificate stating that such redemption will comply with the provisions of this Indenture and of the Securities of such series. Any such notice may be canceled at any time prior to the mailing of such notice of such redemption to any Holder and shall thereupon be void and of no effect.

  • Indemnification of the Trust GFS shall indemnify and hold the Trust and each applicable Fund harmless from and against any and all losses, damages, costs, charges, reasonable attorney or consultant fees, payments, expenses and liability arising out of or attributable to GFS’s refusal or failure to comply with the terms of this Agreement, breach of any representation or warranty made by GFS contained in this Agreement or which arise out of GFS’s lack of good faith, gross negligence, willful misconduct or reckless disregard of its duties with respect to GFS’s performance under or in connection with this Agreement.

  • Compensation to the Master Servicer The Master Servicer shall be entitled to receive a monthly fee equal to the Master Servicing Fee, as compensation for services rendered by the Master Servicer under this Agreement. The Master Servicer also will be entitled to any late reporting fees paid by a Servicer pursuant to its Servicing Agreement, any investment income on funds on deposit in the Certificate Account and any Liquidation Profits to which a Servicer is not entitled under its Servicing Agreement.

  • COMPENSATION TO BE PAID BY THE TRUST TO THE MANAGER The Fund will pay to the Manager as compensation for the Manager's services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to Section 1, a fee, computed and paid monthly at the annual rate of 0.45% of the Fund's average daily net asset value. Such average daily net asset value of the Fund shall be determined by taking an average of all of the determinations of such net asset value during such month at the close of business on each business day during such month while this Contract is in effect. Such fee shall be payable for each month within five (5) business days after the end of such month. In the event that expenses of the Fund for any fiscal year should exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Trust are qualified for offer and sale, the compensation due the Manager for such fiscal year shall be reduced by the amount of such excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Trust, voluntarily declare to be effective with respect to the Fund, subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager shall be reduced, and, if necessary, the Manager shall bear the Fund's expenses to the extent required by such expense limitation. If the Manager shall serve for less than the whole of a month, the foregoing compensation shall be prorated.