Common use of Indemnity Amount Clause in Contracts

Indemnity Amount. Subject to Section 7.2, except as otherwise provided in this Article V, in the event that either the Partnership or Operator, as applicable, is obligated to indemnify and hold an Indemnified Party harmless under this Article V, the amount owing to the Indemnified Party will be the amount of the Indemnified Party’s actual loss net of any insurance proceeds (net of increased premiums and costs incurred in connection with such recovery) or other third party recovery actually received by the Indemnified Party following a reasonable effort by the Indemnified Party to obtain such insurance proceeds or recovery.