Joint Letter of Indemnity
Specimen indemnity to be executed by the Company and participating banks in favor of the Lead Bank.
Indemnity Generator
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Legal-grade draft for consortium-based guarantee issuance.
LETTER OF INDEMNITY
Jointly executed by the Member Banks in favor of the Lead Bank
This agreement executed this 20 day of February, 2026 by ABC Cements Corp (hereinafter called the "Company") of the one part and the following Lending Banks:
1. Delphi Bank (Lead Bank) having its office at 445 Prince Pass, Richmond, Connecticut - 77029, United States
2. Dolphin Bank having its office at 8553 Hirthe Radial, Primrose, Rodoshire - 70003, Maldives
3. Syndicate Bank having its office at 5862 Adrain Road, New Morris, Auckland - 16139, New Zealand
4. Overseas Bank having its office at 509 N Central Avenue, Red channel, North Creek - 11318, Greece
WHEREAS the Lead Bank has issued a Guarantee on behalf of the Company in favor of Grindlays Bank for Rs 210 lacs.
WHEREAS it has been agreed between the Lending Banks that the share of the liability to be undertaken by each member shall be:
| Member Bank | Percentage of Share (%) |
|---|---|
| BI | 21.11% |
| NB | 14.00% |
| CB | 14.00% |
| SB | 10.54% |
| OB | 10.54% |
| IB | 10.54% |
| CBI | 10.54% |
| MB | 8.73% |
| Total Liability | 100.0000% |
NOW IN CONSIDERATION of the above premises, the Company and the Lending Banks agree that:
- The Company undertakes to make good to Delphi Bank all sums which the Lead Bank may be called upon to pay under the said Guarantee.
- The Member Banks agree to contribute to the Lead Bank in the same proportion as set out in the liability table above in case of default by the Company.
- The liability of each of the Lending Banks to the Lead Bank will be on a pro-rata basis.
For ABC Cements Corp
______________________
Authorised Signatory
Dated: 20-Feb-2026
Legal Recommendation
This indemnity document should be stamped as per the relevant State Stamp Act where the execution occurs. Consult with legal counsel regarding the exact stamp duty of your jurisdiction.