Common use of Adjustment for Insurance Clause in Contracts

Adjustment for Insurance. The amount of indemnity payable under Section 10.2 or Section 10.3 shall be calculated after giving effect to any net proceeds actually received from insurance policies covering the Loss that is the subject of the claim for indemnity, net of any increase in premium as a result of such claim and reasonable expenses incurred in pursuing such claim.

Adjustment for Insurance. The amount of indemnity payable under Section 10.2 7.2 or Section 10.3 7.3 shall be calculated after giving effect to any net proceeds actually received from insurance policies covering the Loss that is the subject of the claim for indemnity, net of any increase in premium as a result of such claim and reasonable expenses incurred in pursuing such claim.