Duty to Mitigate Settlements Sample Clauses
The Duty to Mitigate Settlements clause requires a party, typically the one seeking indemnification or compensation, to take reasonable steps to minimize the amount of any settlement or loss. In practice, this means the affected party must avoid unnecessary expenses or actions that could increase the settlement amount, such as by negotiating in good faith or seeking alternative resolutions before finalizing a settlement. The core function of this clause is to prevent inflated claims and ensure that the responsible party is not unfairly burdened with excessive costs that could have been reasonably avoided.
Duty to Mitigate Settlements. To the extent that any Party is responsible for the Claims Administration for any claims under any Shared Policy after the Effective Time, such Party shall use its commercially reasonable efforts to mitigate the amount of any settlements of such claims.
Duty to Mitigate Settlements. To the extent that any member of any Group is responsible for the Claims Administration for any claims under any Shared Policies after the Distribution Date, it shall use its reasonable best efforts to mitigate the amount of any settlements of such claims.
Duty to Mitigate Settlements. To the extent that either ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ or Discover is responsible for the Claims Administration for any claims under any Shared Policies after the Distribution Time, such party shall use its reasonable efforts to mitigate the amount of any settlements of such claims.
Duty to Mitigate Settlements. To the extent that either M▇▇▇▇▇ S▇▇▇▇▇▇ or MSCI is responsible for the Claims Administration for any claims under any Shared Policies after the End Date, such Party shall use its reasonable efforts to mitigate the amount of any settlements of such claims.