Common use of Allocation of Insurance Proceeds Clause in Contracts

Allocation of Insurance Proceeds. Except as otherwise provided in Section 10.3, Insurance Proceeds received with respect to claims, costs and expenses under the Third Party Shared Policies which are issued to any Captive Insurer shall be paid to or on behalf of the Captive Insurer that is the insured under the relevant Third Party Shared Policy, which Captive Insurer shall thereafter administer the Third Party Shared Policies by paying the Insurance Proceeds, as appropriate, to Duke Energy with respect to Power Liabilities covered by any Captive Power Policy and Spectra Energy with respect to Gas Liabilities covered by any Captive Gas Policy. Payments of Insurance Proceeds to such Captive Insurer with respect to any Unallocated Liability covered by either a Captive Power Policy or a Captive Gas Policy, as the case may be, shall be paid by such Captive Insurer to the Parties in accordance with their respective Allocated Percentage. In the event that the aggregate limits on any Third Party Shared Policies (except in the case of any Unallocated Liability which is covered in the preceding sentence) are exceeded by the aggregate of outstanding Insured Claims by the Parties or members of their respective Groups, the Parties agree to allocate the Insurance Proceeds received thereunder based upon their respective percentage of the total of their bona fide claims which were covered under such Third Party Shared Policy, and any Party who has received Insurance Proceeds in excess of such Party’s respective percentage of Insurance Proceeds shall pay to the other Party the appropriate amount so that each Party will have received its respective percentage of Insurance Proceeds pursuant hereto. Each of the Parties agrees to use commercially reasonable efforts to maximize available coverage under those Third Party Shared Policies applicable to it, and to take all commercially reasonable steps to recover from all other responsible parties in respect of an Insured Claim to the extent coverage limits under a Third Party Shared Policy have been exceeded or would be exceeded as a result of such Insured Claim.

Allocation of Insurance Proceeds. Except as otherwise provided in Section 10.3, Insurance Proceeds received with respect to claims, costs and expenses under the Third Party Shared Policies which are issued to any Captive Insurer shall be paid to or on behalf of the Captive Insurer that is the insured Trinity under the relevant Third Party Shared Policy, which Captive Insurer and Trinity shall thereafter administer the Third Party Shared Policies Policies, as appropriate, by retaining the Insurance Proceeds with respect to Trinity Liabilities, and by paying the Insurance Proceeds, as appropriate, Proceeds to Duke Energy Arcosa with respect to Power Liabilities covered by any Captive Power Policy and Spectra Energy with respect to Gas Liabilities covered by any Captive Gas Policy. Payments of Insurance Proceeds to such Captive Insurer with respect to any Unallocated Liability covered by either a Captive Power Policy or a Captive Gas Policy, as the case may be, shall be paid by such Captive Insurer to the Parties in accordance with their respective Allocated PercentageArcosa Liabilities. In the event that the aggregate limits on any Third Party Shared Policies (except in the case of any Unallocated Liability which is covered in the preceding sentence) are exceeded by the aggregate of outstanding Insured Claims by the Parties or members of their respective Groups, the Parties agree to allocate the Insurance Proceeds received thereunder based upon their respective percentage of the total of their bona fide claims which were would have been covered under such Third Party Shared Policy without regard to the limits of such Third Party Shared Policy, and any Party who has received Insurance Proceeds in excess of such Party’s 's respective percentage of Insurance Proceeds shall pay to the other Party the appropriate amount so that each Party will have received its respective percentage of Insurance Proceeds pursuant hereto. Each of the Parties agrees to use commercially reasonable efforts to maximize available coverage under those Third Party Shared Policies applicable to it, and to take all commercially reasonable steps to recover from all responsible third parties, other responsible parties than the Trinity Indemnified Parties and the Arcosa Indemnified Parties, in respect of an Insured Claim to the extent coverage limits under a Third Party Shared Policy have been exceeded or would be exceeded as a result of such Insured Claim; provided, however, that any allocation of Insurance Proceeds shall be made net of any recovery, whenever obtained, from such other responsible third parties.

Allocation of Insurance Proceeds. Except as otherwise provided in Section 10.3, Insurance Proceeds received with respect to claims, costs and expenses under the Third Party Shared Policies which are issued to any Captive Insurer shall be paid to or on behalf of the Captive Insurer that is the insured Trinity under the relevant Third Party Shared Policy, which Captive Insurer and Trinity shall thereafter administer the Third Party Shared Policies Policies, as appropriate, by retaining the Insurance Proceeds with respect to Trinity Liabilities, and by paying the Insurance Proceeds, as appropriate, Proceeds to Duke Energy Arcosa with respect to Power Liabilities covered by any Captive Power Policy and Spectra Energy with respect to Gas Liabilities covered by any Captive Gas Policy. Payments of Insurance Proceeds to such Captive Insurer with respect to any Unallocated Liability covered by either a Captive Power Policy or a Captive Gas Policy, as the case may be, shall be paid by such Captive Insurer to the Parties in accordance with their respective Allocated PercentageArcosa Liabilities. In the event that the aggregate limits on any Third Party Shared Policies (except in the case of any Unallocated Liability which is covered in the preceding sentence) are exceeded by the aggregate of outstanding Insured Claims by the Parties or members of their respective Groups, the Parties agree to allocate the Insurance Proceeds received thereunder based upon their respective percentage of the total of their bona fide claims which were would have been covered under such Third Party Shared Policy without regard to the limits of such Third Party Shared Policy, and any Party who has received Insurance Proceeds in excess of such Party’s respective percentage of Insurance Proceeds shall pay to the other Party the appropriate amount so that each Party will have received its respective percentage of Insurance Proceeds pursuant hereto. Each of the Parties agrees to use commercially reasonable efforts to maximize available coverage under those Third Party Shared Policies applicable to it, and to take all commercially reasonable steps to recover from all responsible third parties, other responsible parties than the Trinity Indemnified Parties and the Arcosa Indemnified Parties, in respect of an Insured Claim to the extent TABLE OF CONTENTS coverage limits under a Third Party Shared Policy have been exceeded or would be exceeded as a result of such Insured Claim; provided, however, that any allocation of Insurance Proceeds shall be made net of any recovery, whenever obtained, from such other responsible third parties.

Allocation of Insurance Proceeds. Except as otherwise provided in Section 10.39.02, Insurance Proceeds received with respect to claims, costs and expenses under the Third Party Shared Policies which are issued to any Captive Insurer shall be paid to or on behalf of the Captive Insurer that is the insured under the relevant Third Party Shared PolicyCS, which Captive Insurer shall thereafter administer the Third Party Shared Policies by paying the Insurance Proceeds, as appropriate, to Duke Energy CS with respect to Power Cadbury plc Liabilities covered by any Captive Power Policy and Spectra Energy to DPS with respect to Gas Liabilities covered Beverages Liabilities, net of the reasonable, documented out-of-pocket costs incurred by CS in administering the applicable claim (it being understood that such costs shall fairly reflect the costs to CS of providing such administrative services, including the costs incurred by CS in respects of any Captive Gas Policyincreased premiums resulting from any such claims on such Shared Policy and a reasonable allocation for salary, wages, benefits, Taxes and other expenses directly attributable thereto and without any markup for profit). Payments CS will provide documentation of any reasonable out-of-pocket costs incurred at the time of payment of the allocable portions of the indemnity costs and Insurance Proceeds to DPS. Payment of the allocable portions of indemnity costs of Insurance Proceeds resulting from such Policies will be made by CS to such Captive Insurer with respect the appropriate Party upon receipt from the insurance carrier. Each Party agrees to obtain for itself and each member of its Group insurance policies (in forms and amounts determined by that Party), which shall be effective as of the Distribution Date, to cover any Unallocated Liability covered by either a Captive Power Policy Cadbury plc Liabilities or a Captive Gas PolicyBeverages Liabilities, as the case may beapplicable, shall be paid by such Captive Insurer to the Parties in accordance with their respective Allocated Percentage. In the event that the aggregate limits on any Third Party Shared Policies (except in the case of any Unallocated Liability which is covered in the preceding sentence) are exceeded by the aggregate of outstanding Insured Claims by the Parties or members of their respective Groups, the Parties agree to allocate exceed the Insurance Proceeds received thereunder based upon their respective percentage of the total of their bona fide claims which were covered under available from such Third Party Shared Policy, and any Party who has received Insurance Proceeds in excess of such Party’s respective percentage of Insurance Proceeds shall pay to the other Party the appropriate amount so that each Party will have received its respective percentage of Insurance Proceeds pursuant heretoPolicies. Each of the Parties agrees to use commercially reasonable efforts to maximize available coverage under those Third Party Shared Policies applicable to it, and to take all commercially reasonable steps to recover from all other responsible parties in respect of an Shared Policy Insured Claim to the extent coverage limits under a Third Party Shared Policy have been exceeded or would be exceeded as a result of such Shared Policy Insured ClaimClaim (it being understood that the obligation to use commercially reasonable efforts to recover from all other responsible parties in respect of a Shared Policy Insured Claim shall not require any Party to commence any litigation proceedings against any such other responsible party).