Common use of Security or Indemnity in favor of the Collateral Trustee Clause in Contracts

Security or Indemnity in favor of the Collateral Trustee. No provision of this Agreement, or any of the other Secured Debt Documents shall require the Collateral Trustee to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been provided with security or indemnity reasonably satisfactory to it against any and all liability or expense which may be incurred by it by reason of taking or continuing to take such action. If it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability including an advance of moneys necessary to perform work or to take the action requested is not reasonably assured to it, the Collateral Trustee may decline to act unless it receives indemnity or security satisfactory to it in its sole discretion, including an advance of moneys necessary to take the action requested. The Collateral Trustee shall be under no obligation or duty to take any action under this Agreement, any of the other Secured Debt Documents or otherwise if taking such action (i) would subject the Collateral Trustee to a tax in any jurisdiction where it is not then subject to a tax or (ii) would require the Collateral Trustee to qualify to do business in any jurisdiction where it is not then so qualified.

Security or Indemnity in favor of the Collateral Trustee. No provision of this Agreement, or any of the other Secured Debt Documents shall require the The Collateral Trustee will not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been provided with security or indemnity reasonably satisfactory to it against any and all liability or expense which may be incurred by it by reason of taking or continuing to take such action. If it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability including an advance of moneys necessary to perform work or to take the action requested is not reasonably assured to it, the Collateral Trustee may decline to act unless it receives indemnity or security satisfactory to it in its sole discretion, including an advance of moneys necessary to take the action requested. The Collateral Trustee shall be under no obligation to exercise any of the powers vested in it by this Agreement or duty to take institute, conduct or defend any action under litigation hereunder or in relation hereto at the request, order or direction of any of the Required Debtholders or Secured Debt Representatives pursuant to the provisions of this Agreement, any of the other unless such Required Debtholders or Secured Debt Documents or otherwise if taking such action (i) would subject Representatives shall have offered to the Collateral Trustee security or indemnity reasonably satisfactory to a tax in any jurisdiction where it is not then subject to a tax or (ii) would require the Collateral Trustee to qualify to do business in any jurisdiction where it is not then so qualifiedagainst the costs, expenses and liabilities which may be incurred therein or thereby.