Common use of Offset of Insurance Proceeds Clause in Contracts

Offset of Insurance Proceeds. Any indemnification hereunder shall be made net of any insurance proceeds recovered by the indemnified person or entity; provided, however, that if, following the payment to such person or entity of any amount under this Section 17, such person or entity recovers any insurance proceeds in respect of the claim for which such indemnification payment was made, such person or entity shall promptly pay an amount equal to the amount of such insurance proceeds (but not exceeding the amount of such indemnification payment from the indemnifying Party) to the indemnifying Party.

Offset of Insurance Proceeds. Any indemnification hereunder shall be made net of any insurance proceeds recovered by the indemnified person or entity; provided, however, that if, following the payment to such person or entity of any amount under this Section 1715, such person or entity recovers any insurance proceeds in respect of the claim for which such indemnification payment was made, such person or entity shall promptly pay an amount equal to the amount of such insurance proceeds (but not exceeding the amount of such indemnification payment from the indemnifying Indemnifying Party) to the indemnifying Party.

Offset of Insurance Proceeds. Any indemnification hereunder shall be made net of any insurance proceeds recovered by the indemnified person or entityIndemnified Party; provided, however, that if, following the payment to such person or entity the Indemnified Party of any amount under this Section 17Article 16, such person or entity Indemnified Party recovers any insurance proceeds in respect of the claim for which such indemnification payment was made, such person or entity Indemnified Party shall promptly pay an amount equal to the amount of such insurance proceeds (but not exceeding the amount of such indemnification payment from the indemnifying Indemnifying Party) to the indemnifying Indemnifying Party.