Common use of Calculation of Covered Losses Clause in Contracts

Calculation of Covered Losses. Covered Losses shall be calculated net of any amounts actually recovered under insurance policies and contractual indemnification or contribution provisions in each case with third parties (in each case, calculated net of reasonable expenses incurred in procuring such recovery and, with respect to recoveries from insurance, any increase in premiums or retroactive premium adjustments or chargebacks paid by or on behalf of such Indemnified Party solely as a result of the insurance claim related to such Covered Loss).

Calculation of Covered Losses. Covered Losses shall be calculated net of any amounts actually recovered under insurance policies and contractual indemnification or contribution provisions in each case with third parties (in each case, calculated net of reasonable expenses incurred in procuring such recovery and, with respect to recoveries from insurance, and any increase in premiums or retroactive premium adjustments or chargebacks paid by or on behalf of such Indemnified Party solely as a result of the insurance claim related to such Covered Loss).