Common use of Calculation of Damages Clause in Contracts

Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 by the Indemnifying Party shall be net of any amounts actually recovered by the Indemnified Party under applicable insurance policies or from any other Person alleged to be responsible therefor. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, subsequent to an indemnification payment by the Indemnifying Party, then the Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the Indemnified Party in collecting such amount. The Indemnified Party shall use commercially reasonable efforts to collect any amounts available under insurance coverage, or from any other Person alleged to be responsible, for any Damages payable under Section 12.02.

Appears in 3 contracts

Samples: Combined Credit Agreements (Quicksilver Resources Inc), Purchase Agreement (Crestwood Holdings LLC), Purchase Agreement (Quicksilver Resources Inc)

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Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 11.03 by the Indemnifying Party shall be net of any (i) amounts actually recovered or recoverable by the Indemnified Party under applicable insurance policies policies, or from any other Person alleged to be responsible therefortherefor and (ii) any net Tax benefit actually realized by the Indemnified Party in the year of the indemnification arising from the incurrence or payment of any such Damages. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, subsequent to an indemnification payment by the Indemnifying Party, then the such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the such Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the such Indemnified Party in collecting such amount. The Indemnified Party shall use commercially reasonable efforts to collect any amounts available under insurance coverage, or from any other Person alleged to be responsible, for any Damages payable under Section 12.02.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Affinity Gaming, LLC), Asset and Equity Purchase Agreement (Affinity Gaming, LLC)

Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 7.02 by the Indemnifying Party shall be net of (i) any amounts actually recovered by the Indemnified Party under applicable insurance policies policies, or from any other Person alleged to be responsible therefortherefor and (ii) any Tax benefit actually realized by the Indemnified Party arising from the incurrence or payment of any such Damages. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, subsequent to an indemnification payment by the Indemnifying Party, then the such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the such Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the such Indemnified Party in collecting such amount. The Indemnified Party shall use commercially reasonable efforts to collect any amounts available under insurance coverage, or from any other Person alleged to be responsible, for any Damages payable under Section 12.02.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Warner Chilcott PLC)

Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 11.02 by the Indemnifying Party shall be net of any (i) amounts actually recovered or recoverable by the Indemnified Party under applicable insurance policies or from any other Person alleged to be responsible therefortherefor and (ii) amounts relating to such Damages paid or payable by the Indemnifying Party or any of its Affiliates to the Indemnified Party or any of its Affiliates under either of the Delta Connection Agreements. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, or pursuant to either of the Delta Connection Agreements, subsequent to an indemnification payment by the Indemnifying Party, then the such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the such Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the such Indemnified Party in collecting such amount. The Indemnified Party shall use commercially reasonable efforts to collect any amounts available under insurance coverage, or from any other Person alleged to be responsible, for any Damages payable under Section 12.02.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Skywest Inc), Stock Purchase Agreement (Delta Air Lines Inc /De/)

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Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 11.03 by the Indemnifying Party shall be net of any (i) amounts actually recovered or recoverable by the Indemnified Party under applicable insurance policies policies, or from any other Person alleged to be responsible therefortherefor and (ii) any net Tax benefit actually realized by the Indemnified Party at any time during the applicable indemnification period as set forth in Section 11.01 arising from the incurrence or payment of any such Damages. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, subsequent to an indemnification payment by the Indemnifying Party, then the such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the such Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the such Indemnified Party in collecting such amount. The Indemnified Party shall use commercially reasonable efforts to collect any amounts available under insurance coverage, or from any other Person alleged to be responsible, for any Damages payable under Section 12.02.

Appears in 1 contract

Samples: Asset Purchase Agreement (Affinity Gaming, LLC)

Calculation of Damages. (a) The amount of any Damages payable under Section 12.02 11.02 by the Indemnifying Party shall be net of any amounts actually recovered by the Indemnified Party under applicable insurance policies or from any other Person alleged to be responsible therefor. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other Person alleged to be responsible for any Damages, subsequent to an indemnification payment by the Indemnifying Party, then the such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the such Indemnifying Party in connection with providing such indemnification payment up to the amount actually received by the Indemnified Party, net of any expenses incurred by the such Indemnified Party in collecting such amount. . (b) The Indemnified Indemnifying Party shall use commercially reasonable efforts to collect any amounts available not be liable under insurance coverage, or from any other Person alleged to be responsible, Section 11.02 for any consequential or punitive Damages payable under Section 12.02or Damages for lost profits.

Appears in 1 contract

Samples: Purchase Agreement (Westar Industries Inc)

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