Common use of Release from Liability; Indemnification Clause in Contracts

Release from Liability; Indemnification. Mortgagee and its successors and assigns are hereby released and absolved from all liability for failure to enforce collection of the Production Proceeds and from all other responsibility in connection therewith, except the responsibility of each to account to Mortgagor for funds actually received by each. Mortgagor has provided pursuant to the Credit Agreement certain indemnifications for the benefit of the Indemnified Persons that apply also for purposes of this Mortgage.

Appears in 2 contracts

Sources: Secured Revolving Credit Agreement (Black Ridge Oil & Gas, Inc.), Secured Revolving Credit Agreement (Black Ridge Oil & Gas, Inc.)