Common use of Insured Liabilities Clause in Contracts

Insured Liabilities. (a) Claims for coverage of Insured CPEX Liabilities shall be tendered by Bentley as necessary to invoke the benefit of the Policies, at CPEX’s sole option, cost and expense. If such insurers do not promptly acknowledge insurance coverage in connection with the Insured CPEX Liabilities, then, with respect to such Insured CPEX Liabilities, CPEX or a member of the CPEX Group on an as-incurred basis (i) shall advance all amounts expended by the Bentley Group for or with respect to such Insured CPEX Liabilities, including, without limitation, all costs and expenses in connection with the defense and settlement and in satisfaction of any judgment incurred, and amounts sufficient to cover any Liabilities required to be paid by Bentley or its Subsidiaries and (ii) shall pay all costs incurred in connection with pursuing and recovering Insurance Proceeds with respect to the Insured CPEX Liabilities. Any payments made by CPEX or the CPEX Subsidiaries on account of such Insured CPEX Liabilities shall be deemed to be advances pursuant to this Section 4.3. CPEX and the CPEX Subsidiaries shall have the right to recover any advances made pursuant to Section 4.3 from Bentley and the Bentley Subsidiaries, and Bentley and the Bentley Subsidiaries shall have the obligation promptly to reimburse CPEX and the CPEX Subsidiaries for such advances, solely from the Insurance Proceeds of the Policies that cover such Insured CPEX Liabilities and that are received by Bentley or the Bentley Subsidiaries. Bentley and the Bentley Subsidiaries (i) shall, at all times until paid to a member of the CPEX Group, hold Insurance Proceeds received for or with respect to Insured CPEX Liabilities in trust for the benefit of CPEX; and (ii) shall promptly remit such Insurance Proceeds to CPEX.

Insured Liabilities. (a) Claims for coverage of Insured CPEX MPI Liabilities shall be tendered by Bentley Myriad as necessary to invoke the benefit of the Policies, at CPEXMPI’s sole option, cost and expense. If such insurers do not promptly acknowledge insurance coverage in connection with the Insured CPEX MPI Liabilities, then, with respect to such Insured CPEX MPI Liabilities, CPEX MPI or a member of the CPEX MPI Group on an as-incurred basis (i) shall advance all amounts expended by the Bentley Myriad Group for or with respect to such Insured CPEX MPI Liabilities, including, without limitation, all costs and expenses in connection with the defense and settlement and in satisfaction of any judgment incurred, and amounts sufficient to cover any Liabilities required to be paid by Bentley Myriad or its Subsidiaries and (ii) shall pay all costs incurred in connection with pursuing and recovering Insurance Proceeds with respect to the Insured CPEX MPI Liabilities. Any payments made by CPEX MPI or the CPEX MPI Subsidiaries on account of such Insured CPEX MPI Liabilities shall be deemed to be advances pursuant to this Section 4.3. CPEX MPI and the CPEX MPI Subsidiaries shall have the right to recover any advances made pursuant to Section 4.3 from Bentley Myriad and the Bentley Myriad Subsidiaries, and Bentley Myriad and the Bentley Myriad Subsidiaries shall have the obligation promptly to reimburse CPEX MPI and the CPEX MPI Subsidiaries for such advances, solely from the Insurance Proceeds of the Policies that cover such Insured CPEX MPI Liabilities and that are received by Bentley Myriad or the Bentley Myriad Subsidiaries. Bentley Myriad and the Bentley Myriad Subsidiaries (i) shall, at all times until paid to a member of the CPEX MPI Group, hold Insurance Proceeds received for or with respect to Insured CPEX MPI Liabilities in trust for the benefit of CPEXMPI; and (ii) shall promptly remit such Insurance Proceeds to CPEXMPI.