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03
INDEMNITY AGREEMENT
and
hereof for certain liabilities which the Surety may incur under the
Bond;
Stockholder Amount
Bank
Invest Corp.
PM
TOTAL PhP
Energy Corp.
Bank
Invest Corp.
PM
TOTAL
Upon recovery by the Surety of the said amount from Energy Corp., the
Surety shall no longer proceed against Energy Corp. to recover any
CZP Draft 05.02.03
[5]
If, upon the later of (i) the termination of this Agreement, (ii) the
termination of the Bond or the Surety’s liability thereunder, or (iii) the
passage of nine (9) months from the consummation of the Closing of
the SPA, Surety has not paid any claim by Company A or Company B,
then Surety shall return the cash collateral to Energy Corp..
If to Bank: If to Surety:
CZP Draft 05.02.03
[6]
________________ ________________
________________ ________________
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(parties)
(witnesses)
(acknowledgment)