Limitations on Indemnification Obligations. The amount which any party (an "Indemnifying Party") is or may be required to pay to any other party (an "Indemnitee") pursuant to Section 5.1 or Section 5.2 shall be reduced (retroactively or prospectively) by any insurance proceeds or other amounts actually recovered by or on behalf of such Indemnitee, in reduction of the related Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a Loss and shall subsequently actually receive insurance proceeds or other amounts in respect of such Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Loss.
Appears in 4 contracts
Samples: Contribution and Distribution Agreement (Wellsford Real Properties Inc), Contribution and Distribution Agreement (Wellsford Real Properties Inc), Merger Agreement (Equity Residential Properties Trust)
Limitations on Indemnification Obligations. The amount which that any party (an "Indemnifying Party") is or may be required to pay to any other party person (an "Indemnitee") pursuant to Section 5.1 3.01, Section 3.02 or Section 5.2 3.03, as applicable, shall be reduced (retroactively or prospectively) by any insurance proceeds Insurance Proceeds or other amounts actually recovered by or on behalf of such Indemnitee, Indemnitee in reduction respect of the related Indemnifiable Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a an Indemnifiable Loss and shall subsequently actually receive insurance proceeds Insurance Proceeds or other amounts in respect of such Indemnifiable Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Loss.
Appears in 2 contracts
Samples: Distribution Agreement (Itt Corp /Nv/), Distribution Agreement (Itt Industries Inc)
Limitations on Indemnification Obligations. The amount which that any party (an "Indemnifying Party") is or may be required to pay to any other party Person (an "Indemnitee") pursuant to Section 5.1 9.01 or Section 5.2 9.02, as applicable, shall be reduced (retroactively or prospectively) by any insurance proceeds Insurance Proceeds or other amounts actually recovered by or on behalf of such Indemnitee, Indemnitee in reduction respect of the related Indemnifiable Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a an Indemnifiable Loss and shall subsequently actually receive insurance proceeds Insurance Proceeds or other amounts in respect of such Indemnifiable Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Loss.
Appears in 2 contracts
Samples: Master Intercompany Agreement (Hartford Life Inc), Master Intercompany Agreement (Hartford Life Inc)
Limitations on Indemnification Obligations. The amount which any party (an "Indemnifying Party") is or may be required to pay to any other party (an "Indemnitee") pursuant to Section 5.1 or Section 5.2 shall be reduced (retroactively or prospectively) by any insurance proceeds or other amounts actually recovered by or on behalf of such Indemnitee, in reduction of the related Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a Loss and shall subsequently actually receive insurance proceeds or other amounts in respect of such Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds proceeds, net of the costs (including any fees) of recovery of insurance proceeds, or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Loss.
Appears in 1 contract
Samples: Redemption and Distribution Agreement (Grove Property Trust)
Limitations on Indemnification Obligations. The amount which that any party (an "Indemnifying Party") is or may be required to pay to any other party Person (an "Indemnitee") pursuant to Section 5.1 5.01 or Section 5.2 5.02, as applicable, shall be reduced (retroactively or prospectively) by any insurance proceeds Insurance Proceeds or other amounts actually recovered by or on behalf of such Indemnitee, Indemnitee in reduction respect of the related Indemnifiable Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a an Indemnifiable Loss and shall subsequently actually receive insurance proceeds Insurance Proceeds or other amounts in respect of such Indemnifiable Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, up to the aggregate amount of any payments received from made by such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Loss.
Appears in 1 contract
Samples: Agreement and Plan of Distribution (Itt Destinations Inc /Nv)
Limitations on Indemnification Obligations. The amount which that any party (an "Indemnifying Party") is or may be required to pay to any other party (an "IndemniteeIndemnified Party") pursuant to Section 5.1 4.01 or Section 5.2 4.02 shall be reduced (retroactively or prospectivelyincluding, without limitation, retroactively) by any insurance proceeds Insurance Proceeds or other amounts actually recovered by or on behalf of such IndemniteeIndemnified Party, in reduction of the related Loss. If an Indemnitee Indemnified Party shall have received the payment required by this Agreement from an Indemnifying Party in respect of a any Loss and the Indemnified Party shall subsequently actually receive insurance proceeds Insurance Proceeds or other amounts in respect of such Loss, then such Indemnitee Indemnified Party shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, received (up to but not in excess of the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Lossindemnity payment made hereunder).
Appears in 1 contract
Limitations on Indemnification Obligations. The amount which any party (an "Indemnifying Party") Party is or may be required to pay to any other party (an "Indemnitee") Indemnified Party pursuant to Section 5.1 or Section 5.2 7.1 shall be reduced (retroactively or prospectivelyincluding, without limitation, retroactively) by any insurance proceeds Insurance Proceeds or any other amounts actually recovered by or on behalf of such IndemniteeIndemnified Party, in reduction of the related Loss. If an Indemnitee shall have Indemnified Party has received the payment required by this Agreement from an Indemnifying Party in respect of a any Loss and shall has subsequently actually receive insurance proceeds received Insurance Proceeds or other amounts in respect of such Loss, then such Indemnitee Indemnified Party shall promptly pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, received (up to but not in excess of the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Loss.indemnity payment made
Appears in 1 contract
Samples: Master Separation Agreement (NUCRYST Pharmaceuticals Corp.)
Limitations on Indemnification Obligations. The amount which that ------------------------------------------ any party (an "Indemnifying Party") is or may be required to pay to any other party person (an "Indemnitee") pursuant to Section 5.1 3.1, Section 3.2 or Section 5.2 3.3, as applicable, shall be reduced (retroactively or prospectively) by any insurance proceeds Insurance Proceeds or other amounts actually recovered by or on behalf of such Indemnitee, Indemnitee in reduction respect of the related Indemnifiable Loss. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of a an Indemnifiable Loss and shall subsequently actually receive insurance proceeds Insurance Proceeds or other amounts in respect of such Indemnifiable Loss, then such Indemnitee shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds Insurance Proceeds or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Loss.
Appears in 1 contract
Limitations on Indemnification Obligations. The amount which any party (an "Indemnifying Party") is or may be required to pay to any other party (an "Indemnitee") pursuant to Section 5.1 or Section 5.2 shall will be reduced (retroactively or prospectively) by any insurance proceeds or other amounts actually recovered by or on behalf of such Indemnitee, in reduction of the related Indemnifiable Loss. If an Indemnitee shall will have received the payment required by this Agreement from an Indemnifying Party in respect of a an Indemnifiable Loss and shall will subsequently actually receive insurance proceeds or other amounts in respect of such Indemnifiable Loss, then such Indemnitee shall will pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds or other amounts actually received, up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Loss.
Appears in 1 contract
Samples: Separation and Distribution Agreement (Volu Sol Inc)