Common use of Insurance Proceeds and Other Recoveries Clause in Contracts

Insurance Proceeds and Other Recoveries. Under no circumstances will the possibility of a future insurance or other recovery be a basis (a) for reducing liability for Losses prior to the receipt of those insurance proceeds or other recovery, or (b) for limiting, postponing or delaying satisfaction of any obligation under this Article 7. If, following satisfaction of a party’s obligation under this Article 7 with respect to certain Losses, a party that received a payment under this Article 7 subsequently receives any insurance proceeds or other recovery, the party that receives the insurance proceeds or recovery will promptly pay-over to the party that made the payment under this Article 7 an amount necessary to avoid any double recovery arising out of the particular facts and circumstances for which the insurance proceeds or other recovery is received, except to the extent that the party that made the payment under this Article 7 is subject to potential liability for Losses that are the subject of any claim notice for Losses for which liability or the amount of Losses has not been established, in which event the party that received the insurance proceeds or other recovery must solely pay-over the amount that exceeds the amounts to which that party may be entitled under this Article 7. Insurance proceeds or other recoveries required to be paid-over will be reduced, to the extent not taken into account when Losses were calculated, by any costs, expenses or additional premiums incurred in connection with obtaining such insurance proceeds or other recovery.

Insurance Proceeds and Other Recoveries. Under no circumstances will the possibility of a future insurance or other recovery be a basis (a) for reducing liability for Losses prior to the receipt of those insurance proceeds or other recovery, or (b) for limiting, postponing or delaying satisfaction of any obligation under this Article 7. If, following satisfaction of a party’s obligation under this Article 7 VIII with respect to certain Losses, a party that received a payment under this Article 7 VIII subsequently receives any insurance proceeds or other recovery, the party that receives the insurance proceeds or recovery will promptly pay-over to the party that made the payment under this Article 7 VIII an amount necessary to avoid any double recovery arising out of the particular facts and circumstances for which the insurance proceeds or other recovery is received, except to the extent that the party that made the payment under this Article 7 VIII is subject to potential liability for Losses that are the subject of any claim notice for Losses for which liability or the amount of Losses has not been established, in which event the party that received the insurance proceeds or other recovery must solely pay-over the amount that exceeds the amounts to which that party may be entitled under this Article 7VIII. Insurance proceeds or other recoveries required to be paid-over will be reduced, to the extent not taken into account when Losses were calculated, by any costs, expenses or additional premiums incurred or reasonably expected to be incurred in connection with obtaining such insurance proceeds or other recovery.

Insurance Proceeds and Other Recoveries. Under no circumstances will the possibility of a future insurance or other recovery be a basis (ai) for reducing liability for Losses prior to the receipt of those insurance proceeds or other recovery, or (bii) for limiting, postponing or delaying satisfaction of any obligation under this Article 7IX. If, following satisfaction of a party’s obligation under this Article 7 IX with respect to certain Losses, a party that received a payment under this Article 7 IX subsequently receives any insurance proceeds or other recovery, the party that receives the insurance proceeds or recovery will promptly pay-over to the party that made the payment under this Article 7 IX an amount necessary to avoid any double recovery arising out of the particular facts and circumstances for which the insurance proceeds or other recovery is received, except to the extent that the party that made the payment under this Article 7 IX is subject to potential liability for Losses that are the subject of any claim notice for Losses for which liability or the amount of Losses has not been established, in which event the party that received the insurance proceeds or other recovery must solely pay-over the amount that exceeds the amounts to which that party may be entitled under this Article 7IX. Insurance proceeds or other recoveries required to be paid-over will be reduced, to the extent not taken into account when Losses were calculated, by any costs, expenses or additional premiums incurred in connection with obtaining such insurance proceeds or other recovery. The rights and remedies of the Parties under this Agreement are cumulative and shall not exclude any other remedies to which any Party may be lawfully entitled.

Insurance Proceeds and Other Recoveries. Under no circumstances will the possibility of a future insurance or other recovery be a basis (ai) for reducing liability for Losses prior to the receipt of those insurance proceeds or other recovery, or (bii) for limiting, postponing or delaying satisfaction of any obligation under this Article 7VIII. If, following satisfaction of a party’s 's obligation under this Article 7 VIII with respect to certain Losses, a party that received a payment under this Article 7 VIII subsequently receives any insurance proceeds or other recovery, the party that receives the insurance proceeds or recovery will promptly pay-over to the party that made the payment under this Article 7 VIII an amount necessary to avoid any double recovery arising out of the particular facts and circumstances for which the insurance proceeds or other recovery is received, except to the extent that the party that made the payment under this Article 7 VIII is subject to potential liability for Losses that are the subject of any claim notice for Losses for which liability or the amount of Losses has not been established, in which event the party that received the insurance proceeds or other recovery must solely pay-over the amount that exceeds the amounts to which that party may be entitled under this Article 7VIII. Insurance proceeds or other recoveries required to be paid-over will be reduced, to the extent not taken into account when Losses were calculated, by any actual costs, expenses or additional premiums incurred primarily in connection with obtaining such insurance proceeds or other recovery.