Common use of Subsequent Recoveries Clause in Contracts

Subsequent Recoveries. If the amount of any Indemnified Party’s Loss, at any time subsequent to an Indemnitor’s making a payment under Section 6.1, is reduced by recovery, settlement or otherwise under or pursuant to any applicable insurance coverage or pursuant to any applicable claim, recovery, settlement or payment by or against any other Person, without duplication of any amount already reducing such Loss pursuant to clause (b) of the definition of “Loss” (collectively, “Recoveries”), the amount of such Recoveries (but not to exceed the amount of such Recoveries) net of the costs and expenses directly resulting from obtaining such Recoveries, including increased premiums shall be repaid by such Indemnified Party to such Indemnitor within fifteen (15) days after receipt thereof by such Indemnified Party, up to the aggregate amount of (i) the payments made by such Indemnitor to such Indemnified Party plus (ii) any costs or expenses incurred by such Indemnitor in connection with its indemnification obligations with respect thereto.

Subsequent Recoveries. If the amount of any Indemnified Party’s Loss, at any time subsequent to an Indemnitor’s making of a payment under Section 6.1this ARTICLE VII, is reduced by recovery, settlement or otherwise under or pursuant to any applicable insurance coverage coverage, or pursuant to any applicable claimClaim, recovery, settlement settlement, or payment by or against any other Person, without duplication of any amount already reducing such Loss pursuant to clause (b) of the definition of “Loss” (collectively, “Recoveries”), the amount of such Recoveries (but not to exceed the amount of such Recoveries) net of the costs and expenses directly resulting from obtaining such Recoveries, including increased premiums shall be repaid by such Indemnified Party to such Indemnitor within fifteen (15) days after receipt thereof (or credit therefor) by such Indemnified Party, up to the aggregate amount of (iA) the payments made by such Indemnitor to such Indemnified Party plus (iiB) any costs or expenses reasonably incurred by such Indemnitor in connection with its indemnification obligations with respect thereto.