Common use of Determination of Indemnified Amounts Clause in Contracts

Determination of Indemnified Amounts. The indemnification obligations of the parties under this Section 15 shall be subject to the following: 15.6.1 The amount of Losses required to be paid by the Indemnitor to indemnify the Indemnified Party pursuant to this Section 15 as a result of any Loss suffered by the Indemnified Party shall be reduced to the extent the amount of such Loss is actually offset by the receipt by the Indemnified Party of insurance proceeds pursuant to the terms of the insurance policies, if any, covering such Loss or by the receipt of any recovery by the Indemnified Party from a third party with respect to such Loss. 15.6.2 The amount of Losses required to be paid by the Indemnitor to indemnify the Indemnified Party pursuant to this Section 15 as a result of any Loss suffered by the Indemnified Party shall be reduced by the amount of any tax benefit actually realized by the Indemnified Party with respect to such Loss, to the extent such benefit actually offsets such Loss, provided that such reduced amount shall be increased by the amount of any taxes payable by such Indemnified Party as a result of the Indemnitor's payment of such Loss. 15.6.3 Amounts payable by the Indemnitor in respect of any Losses shall be payable by the Indemnitor and shall bear interest at the rate of ten and one-half percent (10.5%) per annum from the date the Loss for which indemnification is sought were incurred by the Indemnified Party until the date of payment of indemnification by the Indemnitor.

Determination of Indemnified Amounts. The indemnification obligations of the parties under this Section 15 16 shall be subject to the following: 15.6.1 16.6.1 The amount of Losses required to be paid by the Indemnitor to indemnify the Indemnified Party pursuant to this Section 15 16 as a result of any Loss suffered by the Indemnified Party shall be reduced to the extent the amount of such Loss is actually offset by the receipt by the Indemnified Party of insurance proceeds pursuant to the terms of the insurance policies, if any, covering such Loss or by the receipt of any recovery by the Indemnified Party from a third party with respect to such Loss. 15.6.2 16.6.2 The amount of Losses required to be paid by the Indemnitor to indemnify the Indemnified Party pursuant to this Section 15 16 as a result of any Loss suffered by the Indemnified Party shall be reduced by the amount of any tax benefit actually realized by the Indemnified Party with respect to such Loss, to the extent such benefit actually offsets such Loss, provided that such reduced amount shall be increased by the amount of any taxes payable by such Indemnified Party as a result of the Indemnitor's payment of such Loss. 15.6.3 16.6.3 Amounts payable by the Indemnitor in respect of any Losses shall be payable by the Indemnitor and shall bear interest at the rate of ten and one-half percent (10.5%) per annum from the date the Loss for which indemnification is sought were incurred by the Indemnified Party until the date of payment of indemnification by the Indemnitor.