Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p29
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 29/50)
Character Range: 142197–145028

obligation of the Bank enforceable in accordance with its terms by appropriate legal remedy and does not conflict with, or constitute, or result in, a breach of or default of any provision of the Bank's Memorandum and Articles of Association or any material term or provision of any agreement or any deed or any writ, order or injunction, judgment, law, rule or regulation to which the Bank is a party or is subject to or by which the Bank is bound;
      (c) no agreement or commitment has been entered into or incurred by the Bank which involves or is likely to involve obligations or liabilities which by reason of their magnitude or nature ought reasonably to be made known to the Commonwealth;
      (d) no statutory notices have been served on the Bank which might in any way impair, prevent or interfere with the Bank's performance of its obligations hereunder or pursuant to the Act; and
      (e) it has all of the necessary approvals, licences (including statutory licences) and accreditation, consents, permission, authorities and permits for the proper carrying on of its business and knows of no factors that might in any way prejudice the continuance or renewal of any of those approvals, licences, permissions or consents.

    27. INDEMNITIES
    27.1 Obligations of the Bank
    The Bank shall indemnify and keep indemnified the Commonwealth, its officers, employees and agents from and against all and any reasonable losses, costs (including legal costs) and liabilities, refunds, expenses and other out‑goings incurred by the Commonwealth in connection with any claim made by a third party against the Commonwealth in relation to a Subsidised Loan to the extent to which those losses, costs, refunds, liabilities, expenses or other outgoings are incurred by the Commonwealth as a result of the Bank's failure to perform its obligations under this Agreement.
    27.2 Obligations of the Commonwealth
    The Commonwealth shall indemnify and keep indemnified the Bank, its officers, employees and agents from and against all and any reasonable losses, costs (including legal costs) and liabilities, refunds, expenses and other out‑goings incurred by the Bank in connection with any claim made by a third party against the Bank in relation to a Subsidised Loan to the extent to which those losses, costs, refunds, liabilities, expenses or other out‑goings are incurred by the Bank as a result of the Commonwealth's failure to perform its obligations under this Agreement.

    28. RELATIONSHIP OF THE PARTIES
    This Agreement does not constitute either party as a joint venturer, partner, agent, employee or representative of the other party and any act or omission of either party shall not bind or obligate the other party except as is expressly set forth in this Agreement.

    29. DEFAULT PROVISIONS
    29.1