Insurance Effect. Seller and Buyer each agree that an Indemnified Party shall first seek to recover any Losses covered by any insurance policy pursuant to the terms of such policy before seeking indemnification against an Indemnifying Party under Article IX or Article X. Subject to Section 6.13, the Liability of the Indemnifying Party with respect to any Loss shall be reduced by any insurance proceeds received by the Indemnified Party as a result of any such Losses.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Vitro Sa De Cv), Stock Purchase Agreement (Vitro Sa De Cv)