Common use of Exceeding Policy Limits Clause in Contracts

Exceeding Policy Limits. Where nVent Liabilities are specifically covered under a Shared Policy for occurrences, acts or events prior to the Effective Time, then nVent may claim coverage for Insured Claims under such Shared Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability of such Shared Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.3, Section 5.4 or Section 5.5(c)), subject to the terms of this Section 5.5. Except as set forth in this Section 5.5, Pentair and nVent shall not be liable to one another for claims not reimbursed by insurers for any reason not within the control of Pentair or nVent, as the case may be, including coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair or nVent or any defect in such claim or its processing. For the avoidance of doubt, with respect to the nVent Liabilities, nVent shall exclusively bear (and neither Pentair nor any member of the Pentair Group shall have any obligation to repay or reimburse nVent or members of the nVent Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent or any member of the nVent Group under the Shared Policies as provided for in this Article V. nVent and members of the nVent Group shall indemnify, hold harmless and reimburse Pentair and members of the Pentair Group for any coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, fees and expenses incurred by Pentair or members of the Pentair Group to the extent resulting from any such access to, or any claims made by nVent or members of the nVent Group under, any Shared Policy insurance provided pursuant to this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVent, its employees or third Persons. It is expressly understood that the foregoing shall not limit any Party’s liability to the other Party for indemnification pursuant to Article IV.

Exceeding Policy Limits. Where nVent LSC Liabilities and/or Donnelley Financial Liabilities, as applicable, are specifically covered under a the same Shared Policy for occurrences, acts or events prior to the Effective Timeearlier of the LSC Distribution Date or the Donnelley Financial Distribution Date, regardless of whether the suit or claim is filed or made after the earlier of the LSC Distribution Date or the Donnelley Financial Distribution Date, then nVent LSC and Donnelley Financial, or both, as the case may be, may claim coverage for Insured Claims under such Shared Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability of such Shared Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.311.2, Section 5.4 11.3 or Section 5.5(c)11.4(c) hereof), subject to the terms of this Section 5.511.4. Except as set forth in this Section 5.5Xxxxxxx 00.0, Pentair XXX, XXX and nVent Donnelley Financial shall not be liable to one another for claims not reimbursed by insurers for any reason not within the control of Pentair RRD, LSC or nVentDonnelley Financial, as the case may be, including [coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair RRD, LSC or nVent Donnelley Financial or any defect in such claim or its processing. For the avoidance of doubt, with .] With respect to the nVent Liabilities, nVent shall exclusively bear (and neither Pentair nor any member of the Pentair Group shall have any obligation to repay or reimburse nVent or members of the nVent Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent or any member of the nVent Group under the Shared Policies as provided for in this Article V. nVent and members of the nVent Group shall indemnify, hold harmless and reimburse Pentair and members of the Pentair Group for any coinsurance provisions, deductibles, quota share deductibles, deductibles or self-insured retentions, fees and expenses incurred by Pentair LSC or members Donnelley Financial, as the case may be, shall reimburse RRD for such coinsurance provisions, deductibles, quota share deductibles or self-insured retentions within thirty (30) days of the Pentair Group receipt of an invoice from RRD relating to any Insured Claim; provided that, to the extent resulting from any the Parties dispute the obligation of a Party to reimburse, then the Parties agree to treat such access to, or any claims made by nVent or members of the nVent Group under, any Shared Policy insurance provided disagreement as an Agreement Dispute pursuant to Article X of this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVent, its employees or third PersonsAgreement. It is expressly understood that the foregoing shall not limit any Party’s liability to the any other Party for indemnification pursuant to Article IVVIII.

Exceeding Policy Limits. Where nVent Mallinckrodt Liabilities are specifically covered under a Shared Policy for occurrences, acts or events prior to the Effective Time, then nVent Mallinckrodt may claim coverage for Insured Claims under such Shared Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability of such Shared Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.3, Section 5.4 or Section 5.5(c)5.5(d) hereof), subject to the terms of this Section 5.5. Except as set forth in this Section 5.5, Pentair Covidien and nVent Mallinckrodt shall not be liable to one another for claims not reimbursed by insurers for any reason not within the control of Pentair Covidien or nVentMallinckrodt, as the case may be, including coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair Covidien or nVent Mallinckrodt or any defect in such claim or its processing. For the avoidance of doubt, with respect to the nVent Mallinckrodt Liabilities, nVent Mallinckrodt shall exclusively bear (and neither Pentair Covidien nor any member of the Pentair Covidien Group shall have any obligation to repay or reimburse nVent Mallinckrodt or members of the nVent Mallinckrodt Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent Mallinckrodt or any member of the nVent Mallinckrodt Group under the Shared Policies as provided for in this Article V. nVent X. Xxxxxxxxxxxx and members of the nVent Mallinckrodt Group shall indemnify, hold harmless and reimburse Pentair Covidien and members of the Pentair Covidien Group for any coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, fees and expenses incurred by Pentair Covidien or members of the Pentair Covidien Group to the extent resulting from any such access to, or any claims made by nVent Mallinckrodt or members of the nVent Mallinckrodt Group under, any Shared Policy insurance provided pursuant to this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVentMallinckrodt, its employees or third Persons. It is expressly understood that the foregoing shall not limit any Party’s liability to the other Party for indemnification pursuant to Article IV.

Exceeding Policy Limits. Where nVent Mallinckrodt Liabilities are specifically covered under a the same Shared Policy for occurrences, acts or events prior to the Effective Time, then nVent Mallinckrodt may claim coverage for Insured Claims under such Shared Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability of such Shared Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.3, Section 5.4 or Section 5.5(c)) hereof), subject to the terms of this Section 5.5. Except as set forth in this Section 5.5, Pentair Covidien and nVent Mallinckrodt shall not be liable to one another for claims not reimbursed by insurers for any reason not within the control of Pentair Covidien or nVentMallinckrodt, as the case may be, including coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair Covidien or nVent Mallinckrodt or any defect in such claim or its processing. For the avoidance of doubt, with respect to the nVent Mallinckrodt Liabilities, nVent Mallinckrodt shall exclusively bear (and neither Pentair Covidien nor any member of the Pentair Covidien Group shall have any obligation to repay or reimburse nVent Mallinckrodt or members of the nVent Mallinckrodt Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent Mallinckrodt or any member of the nVent Mallinckrodt Group under the Shared Policies as provided for in this Article V. nVent X. Xxxxxxxxxxxx and members of the nVent Mallinckrodt Group shall indemnify, hold harmless and reimburse Pentair Covidien and members of the Pentair Covidien Group for any coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, fees and expenses incurred by Pentair Covidien or members of the Pentair Covidien Group to the extent resulting from any such access to, or any claims made by nVent Mallinckrodt or members of the nVent Mallinckrodt Group under, any Shared Policy insurance provided pursuant to this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVentMallinckrodt, its employees or third Persons. It is expressly understood that the foregoing shall not limit any Party’s liability to the other Party for indemnification pursuant to Article IV.

Exceeding Policy Limits. Where nVent LSC Liabilities and/or Donnelley Financial Liabilities, as applicable, are specifically covered under a the same Shared Policy for occurrences, acts or events prior to the Effective Timeearlier of the LSC Distribution Date or the Donnelley Financial Distribution Date, regardless of whether the suit or claim is filed or made after the earlier of the LSC Distribution Date or the Donnelley Financial Distribution Date, then nVent LSC and Donnelley Financial, or both, as the case may be, may claim coverage for Insured Claims under such Shared Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability of such Shared Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.311.2, Section 5.4 11.3 or Section 5.5(c)11.4(c) hereof), subject to the terms of this Section 5.511.4. Except as set forth in this Section 5.5Xxxxxxx 00.0, Pentair XXX, XXX and nVent Donnelley Financial shall not be liable to one another for claims not reimbursed by insurers for any reason not within the control of Pentair RRD, LSC or nVentDonnelley Financial, as the case may be, including coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair RRD, LSC or nVent Donnelley Financial or any defect in such claim or its processing. For the avoidance of doubt, with With respect to the nVent Liabilities, nVent shall exclusively bear (and neither Pentair nor any member of the Pentair Group shall have any obligation to repay or reimburse nVent or members of the nVent Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent or any member of the nVent Group under the Shared Policies as provided for in this Article V. nVent and members of the nVent Group shall indemnify, hold harmless and reimburse Pentair and members of the Pentair Group for any coinsurance provisions, deductibles, quota share deductibles, deductibles or self-insured retentions, fees and expenses incurred by Pentair LSC or members Donnelley Financial, as the case may be, shall reimburse RRD for such coinsurance provisions, deductibles, quota share deductibles or self-insured retentions within thirty (30) days of the Pentair Group receipt of an invoice from RRD relating to any Insured Claim; provided that, to the extent resulting from any the Parties dispute the obligation of a Party to reimburse, then the Parties agree to treat such access to, or any claims made by nVent or members of the nVent Group under, any Shared Policy insurance provided disagreement as an Agreement Dispute pursuant to Article X of this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVent, its employees or third PersonsAgreement. It is expressly understood that the foregoing shall not limit any Party’s liability to the any other Party for indemnification pursuant to Article IVVIII.

Exceeding Policy Limits. Where nVent MFCI Liabilities, MHCI Liabilities ----------------------- or RTI Liabilities are specifically covered under a Shared Policy the Company Policies for occurrences, acts or events periods prior to the Effective TimeDistribution Date, or under any such Company Policy covering claims made after the Distribution Date with respect to an occurrence prior to the Distribution Date, then nVent from and after the Distribution Date MFCI, MHCI and RTI-Delaware may claim coverage for Insured Claims under each such Shared applicable Company Policy as and to the extent that such insurance is available up to the full extent of the applicable limits of liability liability, if any, of such Shared Company Policy (and may receive any Insurance Proceeds with respect thereto as contemplated by Section 5.3, Section 5.4 5.2 or Section 5.5(c)5.3(c) hereof), subject to the terms of this Section 5.55.3(b). Except as set forth in this Section 5.5In the event that the total loss payables of Insured Claims by MFCI, Pentair MHCI and nVent RTI shall have exhausted the limits of liability, if any, under a Company Policy which is not be liable further covered by an umbrella or excess umbrella policy, taking into account defense costs to one another for claims not reimbursed by insurers the extent such costs are applied against such limits of such Policy, then a party that has utilized more than one-third of the limits of liability under such Company Policy (a "benefitted party") shall indemnify the other parties which utilized less than one-third of such limits of liability, if any, (a "nonexceeding party") for any reason subsequent claim by a nonexceeding party (including, without limitation, defense costs related to such claim) arising out of an insured or insurable occurrence under such Company Policy which would have been an Insured Claim but for the fact that the limits of such Company Policy were exceeded, up to the difference between one-third of the limits of liability, if any, under such Company Policy and the amount of such limits of liability, if any (excluding defense costs to the extent such costs are not applied against the fixed dollar coverage limits) actually utilized by the nonexceeding party (the "maximum reimbursement amount"). Each of the parties agrees to use commercially reasonable efforts to maximize available coverage under those Company 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 it is a benefitted party or would become a benefitted party as a result of an Insured Claim. Each nonexceeding party shall submit to each benefitted party the same information and documentation that it would have been required to submit to the insurance carrier under the applicable Company Policy within the control same time frames provided for in such Company Policy, and each benefitted party shall, within 30 days of Pentair or nVentreceipt of documentation supporting such claim, as the case may be, including coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, bankruptcy or insolvency of an insurance carrier, Shared Policy limitations or restrictions, any coverage disputes, any failure to timely claim by Pentair or nVent or any defect in either pay such claim or its processing. For give written notice denying the avoidance of doubt, with respect claim to the nVent Liabilities, nVent shall exclusively bear (and neither Pentair nor any member of the Pentair Group shall have any obligation to repay or reimburse nVent or members of the nVent Group for) and shall be liable for all uninsured, uncovered, unavailable or uncollectible amounts of all such claims made by nVent or any member of the nVent Group under the Shared Policies as provided for in this Article V. nVent and members of the nVent Group shall indemnify, hold harmless and reimburse Pentair and members of the Pentair Group for any coinsurance provisions, deductibles, quota share deductibles, self-insured retentions, fees and expenses incurred by Pentair or members of the Pentair Group to the extent resulting from any such access to, or any claims made by nVent or members of the nVent Group under, any Shared Policy insurance provided pursuant to this Article V, including any indemnity payments, settlements, judgments, legal fees and allocated claims expenses and claim-handling fees, whether such claims are made by nVent, its employees or third Persons. It is expressly understood that the foregoing shall not limit any Party’s liability to the other Party for indemnification pursuant to Article IVnonexceeding party.