|
AZREB.com | Real Estate Clauses
Indemnification
The
undersigned shall indemnify and reimburse the Lender upon demand for any and all
liabilities and obligations of the Lender arising from, connected with or
related to any and all claims and assertions, however advanced, that any
payments of all or any portion of the indebtedness and liabilities are void or
voidable transfers, are otherwise recoverable or are capable of being set aside
for any reason, whether as preferential transfers or otherwise.
The foregoing shall include, without limiting the generality of the
foregoing, all attorneys fees, expert witness fees and other costs incurred in
defending against any such liabilities and obligations and any sum paid or
allowed as a credit by the Lender in settlement of any such liabilities and
obligations. The foregoing
undertakings by the undersigned shall survive, and shall not merge in or
otherwise be released, exonerated or impaired by payment or discharge of all or
any of the indebtedness.
In the event the undertakings of the undersigned in this instrument are
secured by any lien, security interest, assignment or other collateral granted
by any of the undersigned, the Lender, notwithstanding payment or discharge of
the indebtedness, shall not be required to release any or all of the collateral
until such time as there has been delivered to the Lender such opinions,
certificates and/or other evidence and assurances satisfactory to the Lender
that no payment to the Lender of or on account of any of the indebtedness are
void or voidable transfers, are otherwise recoverable or are capable of being
set aside for any reason, whether as preferential transfers or otherwise.
The foregoing shall likewise survive and shall not merge in or otherwise
be released, exonerated or impaired by payment or discharge of all or any of the
indebtedness.
|
