Common use of Tax Benefits; Insurance Proceeds Clause in Contracts

Tax Benefits; Insurance Proceeds. In determining the amount of any loss, liability or expense for which any party is entitled to reimbursement under this Article V, the gross amount thereof will be reduced by any correlative tax benefit or insurance proceeds realized or to be realized by such party, and such correlative insurance benefit shall be net of any insurance premium which becomes due as a result of such claim.

Tax Benefits; Insurance Proceeds. In determining the amount of any lossClaim, liability or expense for which any party is entitled to reimbursement under Article XIII of this Article VAgreement, the gross amount thereof will be reduced by any correlative net tax benefit or insurance proceeds realized or to be realized by such party, party and such correlative insurance benefit shall be net of any insurance premium which that becomes due as a result of such claim.