Insurance Effect. The indemnification payments of an Indemnifying ---------------- Party shall be adjusted so as to give effect to any amounts actually recovered by the Claiming Party with respect to the matter for which the Claiming Party is being indemnified or reimbursed from unaffiliated insurance carriers under insurance policies for the benefit of the Claiming Party that reduce claims that would otherwise be sustained; provided, however, that this Section 8.4(e) shall apply only if the provision does not constitute an improper waiver of the insurer's rights of subrogation against the Claiming Party, and provided further, that the no Claiming Party shall be under any affirmative obligation as a result of this Section 8.4(e) to obtain, maintain in force or take any action with respect to any such insurance policies.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Dovebid Inc), Stock Purchase Agreement (Dovebid Inc)