Common use of Reduction for Insurance Proceeds and Tax Savings Clause in Contracts

Reduction for Insurance Proceeds and Tax Savings. The amount of any Damages claimed by any Indemnitee hereunder shall be reduced to the extent of (i) any insurance proceeds, indemnification or other reimbursement or payment recoverable by the Company or the Indemnitee in connection with such Damages or the claim giving rise thereto; and (ii) any Tax savings or benefits realized or to be realized by the Company or by any Indemnitee in connection with such Damages or the claim giving rise thereto (it being acknowledged by the Parties that there may be no such Tax savings or benefits).

Reduction for Insurance Proceeds and Tax Savings. The amount of any Damages claimed by any Indemnitee hereunder shall be reduced to the extent of (i) any insurance proceeds, indemnification or other reimbursement or payment recoverable by the Company Buyer or the Indemnitee in connection with such Damages or the claim giving rise thereto; and (ii) any Tax savings or benefits realized or to be realized by the Company Buyer or by any Indemnitee in connection with such Damages or the claim giving rise thereto (it being acknowledged by the Parties that there may be no such Tax savings or benefits).

Reduction for Insurance Proceeds and Tax Savings. The amount of any Damages claimed by any Indemnitee hereunder shall be reduced to the extent of (i) any insurance proceeds, indemnification or other reimbursement or payment -39- 45 recoverable by the Company or the Indemnitee in connection with such Damages or the claim giving rise thereto; and (ii) any Tax savings or benefits realized or to be realized by the Company or by any Indemnitee in connection with such Damages or the claim giving rise thereto (it being acknowledged by the Parties that there may be no such Tax savings or benefits).