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(A) The Agent will make collateralised loans to the Borrower on the Principals’ behalf.<br> | (A) The Agent will make collateralised loans to the Borrower on the Principals’ behalf.<br> | ||
(B) The Agent will indemnify the Principals for losses they suffer if the Borrower defaults on its | (B) The Agent will indemnify the Principals for losses they suffer if the Borrower defaults on its loans.<br> | ||
(C) The Agent will indemnify the Borrower its losses | (C) The Agent will indemnify the Borrower for its losses if the Principals default on the loans. <br> | ||
(D) The Borrower will counter-indemnify the Agent for amounts the Agent owes under its indemnities to the Principals.<br> | (D) The Borrower will counter-indemnify the Agent for amounts the Agent owes under its indemnities to the Principals.<br> | ||
|commentary=A whole lot of indemnifyin’ going on. This is a recital: it is meant to set the scene to help a reader understand the context of the agreement. But good luck understanding that in the native prose advanced by a [[Magic circle law firm|magic circle firm]] from London. }} | |commentary=A whole lot of indemnifyin’ going on. This is a recital: it is meant to set the scene to help a reader understand the context of the agreement. But good luck understanding that in the native prose advanced by a [[Magic circle law firm|magic circle firm]] from London. }} | ||
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