Common use of Allocation of Insurance Proceeds Clause in Contracts

Allocation of Insurance Proceeds. COOPERATION. Insurance Proceeds received with respect to claims, costs and expenses under the Insurance Policies shall be paid to Xxxxxx with respect to Xxxxxx Liabilities which are Insured Claims under the Xxxxxx Policies and to Ventiv with respect to the Healthcare Services Liabilities which are Insured Claims under the Xxxxxx Policies. Payment of the allocable portions of indemnity costs of Insurance Proceeds resulting from the Liability Policies will be made to the appropriate party upon receipt from the insurance carrier. In the event of the exhaustion of coverage under any Xxxxxx Policy, Xxxxxx and Ventiv shall allocate Insurance Proceeds equitably based upon the bona fide claims of the Xxxxxx Group and the Healthcare Services Group, respectively. The parties hereto agree to use their best efforts to cooperate with respect to insurance matters.