Net of Taxes and Insurance. Any calculation of a Loss under this Section 9 shall, in each case, give full effect to (i) any and all income Tax benefits to the Indemnified Party in respect of the Loss, and (ii) any and all insurance proceeds received or payable to the Indemnified Party in respect of the Loss.
Appears in 5 contracts
Samples: Purchase and Sale Agreement (Somerset Power LLC), Settlement Agreement (Holyoke Water Power Co), Title Transfer Agreement (Northeast Utilities System)
Net of Taxes and Insurance. Any calculation of a Loss under -------------------------- this Section 9 shall, in each case, give full effect to (i) any and all income Tax benefits to the Indemnified Party in respect of the Loss, and (ii) any and all insurance or other proceeds received or payable to the Indemnified Party in respect of the Loss. Any Party seeking indemnity hereunder shall use Commercially Reasonable Efforts to seek coverage for both costs of defense and indemnity under applicable insurance policies.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (B E C Energy), Purchase and Sale Agreement (Boston Edison Co), Purchase and Sale Agreement (Boston Edison Co)
