Common use of Adjustments for Insurance Proceeds Clause in Contracts

Adjustments for Insurance Proceeds. The amount of any Loss entitling a party to indemnification under this ARTICLE VIII shall be reduced by the amount of any insurance proceeds recovered by the Indemnified Party for such Loss, net of all costs and expenses incurred in collecting such insurance proceeds (including, without limitation, reasonable attorneys’ fees). Nothing in this Section 8.3 shall be deemed to obligate any person to maintain any insurance or to pursue any claim against any insurer or third party.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Seracare Life Sciences Inc), Asset Purchase Agreement (Seracare Life Sciences Inc)

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Adjustments for Insurance Proceeds. The amount of any Loss ---------------------------------- entitling a party to indemnification under this ARTICLE VIII 9 shall be reduced by the amount of any insurance proceeds recovered by the Indemnified Party for such Loss, net of all costs and expenses incurred in collecting such insurance proceeds (including, without limitation, reasonable attorneys' fees). Nothing in this Section 8.3 9.3 shall be deemed to obligate any person to maintain any insurance or to pursue any claim against any insurer or third party.

Appears in 1 contract

Samples: Asset Purchase Agreement (Mindarrow Systems Inc)

Adjustments for Insurance Proceeds. The amount of any Loss entitling a party to indemnification under this ARTICLE VIII shall Article 9 will be reduced by the amount of any insurance proceeds recovered by the Indemnified Party for such Loss, net of all costs and expenses incurred in collecting such insurance proceeds (including, without limitation, including reasonable attorneys' fees). Nothing in this Section 8.3 shall 9.3 will be deemed to obligate any person to maintain any insurance or to pursue any claim against any insurer or third party.

Appears in 1 contract

Samples: Asset Purchase Agreement (Sports Club Co Inc)

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Adjustments for Insurance Proceeds. The amount of any Loss entitling a party to indemnification under this ARTICLE VIII Article 6 shall be reduced by the amount of any insurance proceeds recovered by the Indemnified Party for such Loss, net of all costs and expenses incurred in collecting such insurance proceeds (including, without limitation, reasonable attorneys' fees). Nothing in this Section 8.3 6.2 shall be deemed to obligate any person to maintain any insurance or to pursue any claim against any insurer or third party.

Appears in 1 contract

Samples: Asset Exchange Agreement (Seracare Inc)

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