CARDHOLDER’S INDEMNIFICATION OBLIGATION

In consideration of I&M Bank providing the Cardholder with the Card and related facilities, the Cardholder hereby agrees to indemnify and keep I&M Bank indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs (including legal costs), charges and expenses whatsoever which I&M Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of:

(i) providing the Cardholder the said facility of the Card

(ii by reason of I&M Bank’s acting in good faith and taking or refusing to take or omitting to take action on the Cardholder’s instructions,

(iii) the negligence, mistake or misconduct of the Cardholder (directly or indirectly),

(iv) breach or non-compliance of these terms and conditions,

(v) fraud or dishonesty relating to any Transaction by the Cardholder or his employee or agents,

(vi) any ATM/POS machine error or failure or other mechanical/system error/failure,

(vii) collection of all moneys due and payable (including applicable costs, charges and fees) by the Cardholder, and/or

(viii) misplacement by the courier or loss-in-transit of the Card and/or PIN.

Additionally, as stated earlier, the Cardholder has also agreed to indemnify and agreed to hold I&M Bank indemnified against all actions, claims and costs, charges and expenses arising out of or as a consequence of the Cardholder not complying with the applicable laws, rules and regulations in force from time to time.