Counter Indemnity Agreement



A counter-compensation is a repayment obligation for a primary allowance, a guarantee, a loan or a similar order. The bank will ask us for a counter-compensation in favour of the bank. If the performance obligation is called, we must compensate the bank as part of the counter-compensation. Counter-compensation is sometimes easier to describe as “compensation.” More information (1) [Company name] (2) EVOLUTION INSURANCE COMPANY LIMITED (1) – and – (2) EVOLUTION INSURANCE COMPANY LIMITED CORPORATE COUNTER INDEMNITY Page 1 of 8 CE DEED OF INDEMNITY is… As part of contractual agreements, our bank can issue a performance obligation to our customers. The Company undertakes to pay on the date of acceptance, in accordance with the principles set out in Article 4 of the counter-compensation between the company and HSBC (the “HSBC COUNTER INDEMNITY”) in the relevant currency (as defined in HSBC`s counter-compensation) and on the corresponding account (as defined in HSBC`s counter-compensation) amounts equivalent to the total outstanding of these existing obligations. DATE 1 BLANKET COUNTER INDEMNITY 72901114 12DEC1998 BLANKET COUNTER INDEMNITY DD 19OCT85 1 CERT OF REGN (FORM 40) ) 71975684 12DEC1998 FORM 40 IRO SEC OVER DEP (CO) (1ST PARTY) DD 22AU G97 1 DEPOSIT 1 TIME1 71 980121 12DEC1998 TMD REC 132 RM173, 955-54 (6M) (AUTO) (372-1) 90124 1 LETTER OF OFFER/ACCEPTANCE 71005264 17MAY2000 DD 16MAY2000 TO EXTENDE 152K. For example, we may be a business supplier in a commercial contract. The result is a potential liability for our bank.