Dealing with risk

20. Indemnity

20.1 You indemnify us against the following:

1. all liability; and
2. all losses, costs, and expenses
   (including those set out in clause 20.2 if caused by the circumstances set out in clause 20.3.)

20.2 The losses, costs, and expenses against which you indemnify us include:

1. loss of or damage to our property; and
2. loss or expense in dealing with any claim against us (including legal costs on a solicitor/own client basis, the cost of time spent, resources used and disbursements paid).

20.3 For the purposes of clause 20.1, you indemnify us in circumstances where our liability, loss, cost or expense was caused by:

1. your act or omission in carrying out this Agreement, but   only  where you were at fault; or
2. your breach of this Agreement; or
3. our use of the Agreement Material or Existing Material (including where third parties make claims against us over the ownership of or right to use Intellectual Property Rights or Moral Rights in the Agreement Material or Existing Material).

20.4 Your liability to indemnify us under this clause 20 is reduced proportionately to the extent that our own fault caused our loss.
20.5 Our right to be indemnified under this clause 20 is in addition to any other remedy we have at law or under this Agreement.  However, we are not entitled to be compensated for more than our actual loss.

21. Insurance

21.1 You agree to have current and adequate insurance appropriate to the Activity funded. Any additional requirements are specified in Item G of the Schedule.
21.2 If we ask, you must provide certificates of currency for the insurance and/or a warranty from your insurer that the policy extends to and will cover potential liability arising under this Agreement.
21.3 This clause 21 continues to operate for as long as any obligations remain in connection with this Agreement.