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FL » Topics » Indemnification by the Banks

This excerpt taken from the FL 8-K filed May 21, 2008.
Indemnification by the Banks. The Banks shall, ratably in accordance with their respective Pro Rata Shares, indemnify each LC Agent, its affiliates and their respective directors, officers, agents and employees (to the extent not reimbursed by the Borrower or any Guarantor) against any cost, expense (including fees and disbursements of counsel), claim, demand, action, loss or liability (except such as result from such LC Agent’s gross negligence or willful misconduct or such LC Agent’s failure to pay, unless such payment is enjoined or otherwise prevented by order of a court or other governmental authority, under any Letter of Credit issued by it after the presentation to it of a request strictly complying with the terms and conditions of such Letter of Credit) that any such indemnitee may suffer or incur in connection with this Agreement or any action taken or omitted by such indemnitee under this Agreement.

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