1.10 Indemnity | Rulebooks

CDP Settlement Rules

Each Settlement Participant shall indemnify CDP, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.7, and their respective directors, officers, employees, representatives and agents ("Indemnified Persons") against any loss or liability reasonably incurred or suffered by the Indemnified Persons where such loss or liability arose out of or in connection with:—

(a) any breach by the Settlement Participant of its obligations under these Rules; or

(b) any wilful, unlawful, reckless or negligent act or omission by the Settlement Participant.

Added on 10 December 2018 10 December 2018.

1.10.2

Without prejudice to the generality of Rule 1.10.1, in the event that any legal, arbitration or other proceedings are brought to impose any liability on all or any of the Indemnified Persons for an alleged failure on the part of any Indemnified Person to prevent or to require action by a Settlement Participant or any of its directors, officers, employees, representatives or agents, the Settlement Participant shall reimburse the relevant Indemnified Person for:—

(a) all expenses and legal fees incurred by or on behalf of the Indemnified Person in connection with such proceedings;

(b) any payment made by or on behalf of the Indemnified Person with the approval of the Settlement Participant in connection with any settlement of such proceedings; and

(c) any payment made by or on behalf of the Indemnified Person as a result of any order, award or judgment made in such proceedings,

and the Settlement Participant shall render such co-operation as the Indemnfied Person reasonably requires in respect of such proceedings including without limitation the production of any document or records.

Added on 10 December 2018 10 December 2018.

1.10.3

Without prejudice to Rule 1.10.2, the Settlement Participant shall pay to an Indemnified Person, if the Indemnified Person so requires, the cost incurred by or on behalf of the Indemnified Person of producing or obtaining, pursuant to a court order or other legal process, records relating to the business or affairs of a Settlement Participant or any of its directors, officers or representatives, regardless of the party requiring such production or obtainment.

Added on 10 December 2018 10 December 2018.