Common use of Losses Net of Insurance Clause in Contracts

Losses Net of Insurance. The amount of any Loss for which indemnification is provided under this Article shall be net of any amounts recovered by the person to be indemnified pursuant to this Article XIII (the "Indemnified Party") under insurance policies with respect to such Loss.

Losses Net of Insurance. The amount of any Covered Loss for which indemnification is provided under this Article X shall be net of any amounts recovered by the person to be indemnified pursuant to this Article XIII (the "Indemnified Party") Parties under insurance policies with respect to such Covered Loss. In the event that the Indemnified Parties shall later collect any such amounts recovered under insurance policies with respect to any Covered Loss for which any of them has previously received payments under this Article X from Seller, such Indemnified Party shall promptly repay to Seller such amount recovered.