Common use of Insurance Application to Assumed Liabilities Clause in Contracts

Insurance Application to Assumed Liabilities. If and to the extent Santa Fe receives Insurance Proceeds that relate to Assumed Liabilities asserted against any member of the Santa Fe Group, Santa Fe may directly apply such Insurance Proceeds to such Assumed Liabilities without distribution to Monterey. If and to the extent Santa Fe is paid by, or reimbursed from, the Policies for such Assumed Liabilities, Monterey shall be relieved of its indemnification obligations that would otherwise apply under Sections 3.4(a) for such Assumed Liabilities, provided, that, this subsection (e) shall not apply to any amounts attributable to Uninsured Retentions or Assistance Costs for which Monterey shall remain obligated to pay in full.

Insurance Application to Assumed Liabilities. If and to the extent Santa Fe receives Insurance Proceeds that relate to Assumed Liabilities asserted against any member of the Santa Fe GroupLiabilities, Santa Fe may directly apply such Insurance Proceeds to such Assumed Liabilities without distribution to Monterey. If and to To the extent Santa Fe is paid by, by or reimbursed from, the Policies for such Assumed Liabilities, Monterey shall be relieved of its indemnification obligations that would otherwise apply under Sections 3.4(a) for such Assumed Liabilities, provided, that, this subsection (e) shall not apply to any amounts attributable to Uninsured Retentions or Assistance Costs for which Monterey shall remain obligated to pay in full.