Common use of Insurance and Third Party Recovery Clause in Contracts

Insurance and Third Party Recovery. In determining the liability of a Party for any Losses pursuant to this Article XII, no loss, liability, damage or expense shall be deemed to have been sustained by such Party to the extent of any proceeds previously received by such Party from any insurance recovery (net of all out-of-pocket costs directly related to such recovery) with respect to insurance coverage in place as of the date hereof or other recovery from a third party (net of all out-of-pocket costs directly related to such recovery). If an amount is actually recovered from an insurance carrier or other third party after damages have been paid by the Indemnifying Party pursuant to Article XII hereof, then the party receiving such amount shall promptly remit such amount to the Indemnifying Party.

Insurance and Third Party Recovery. In determining the liability of a Party for any Losses Adverse Consequence pursuant to this Article XII6, no loss, liability, damage or expense shall be deemed to have been sustained by such Party to the extent of any proceeds previously received by such Party from any insurance recovery (net of all out-of-pocket costs directly related to such recovery) with respect to insurance coverage in place as of the date hereof or other recovery from a third party (net of all out-of-pocket costs directly related to such recovery). If an amount is actually recovered from an insurance carrier or other third party after damages have been paid by the Indemnifying Party pursuant to Article XII 6 hereof, then the party receiving such amount shall promptly remit such amount to the Indemnifying Party.

Insurance and Third Party Recovery. In determining the liability of a Party party for any Losses Damages pursuant to this Article XII, no loss, liability, damage or expense Damages shall be deemed to have been sustained by such Party a party to the extent of any proceeds previously received by such Party party from any insurance recovery (net of all out-of-pocket costs directly related to such recovery) with respect to insurance coverage in place as of the date hereof or other recovery from a third third-party (net of all out-of-pocket costs directly related to such recovery). If an amount is actually recovered from an insurance carrier or other third third-party after damages Damages have been paid by the Indemnifying Party pursuant to Article XII hereofXII, then the party Indemnified Party receiving such amount shall promptly remit such amount to the Indemnifying Party.