INCHOATE INDEMNITIES

INCHOATE INDEMNITIES. Shall mean indemnity obligations of the Borrower hereunder for which no claim or applicable covered occurrence or event under any applicable indemnity provision hereof has yet arisen, to the knowledge of Bank, even though the indemnity provisions hereof shall continue to remain enforceable contractual provisions with respect to any such potential claims or otherwise regarding any such occurrences or events.