SGX Rulebooks
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10.6.1

Each Clearing Member indemnifies each of CDP, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.1.7, 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:—

(1) any breach by the Clearing Member of its obligations under the Clearing Rules and/or Clearing Directives; or
(2) any wilful, unlawful, reckless or negligent act or omission by the Clearing Member.

Amended on 26 April 201326 April 2013, 15 September 201715 September 2017 and 3 June 20193 June 2019.

10.6.2

Without prejudice to the generality of Rule 10.6.1, 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 Clearing Member or any of its directors, officers, employees, representatives or agents, the Clearing Member shall reimburse the relevant Indemnified Person for:—

(1) all expenses and legal fees incurred by or on behalf of the Indemnified Person in connection with such proceedings;
(2) any payment made by or on behalf of the Indemnified Person with the approval of the Clearing Member in connection with any settlement of such proceedings; and
(3) any payment made by or on behalf of the Indemnified Person as a result of any order, award or judgment made in the such proceedings.

The Clearing Member shall render such co-operation as the Indemnified Person reasonably requires in respect of such proceedings including without limitation the production of any document or records.

Amended on 26 April 201326 April 2013 and 15 September 201715 September 2017.

10.6.3

Without prejudice to Rule 10.6.2, the Clearing Member shall pay to an Indemnified Person, if the Indemnified Person so requires, the costs 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 Clearing Member or any of its directors, officers, representatives, employees or agents, regardless of the party requiring such production or obtainment.

Amended on 15 September 201715 September 2017.