Common use of Insurance Recoveries Clause in Contracts

Insurance Recoveries. The amount of any Loss shall be reduced by any amount received by the Indemnified Party (or an affiliate) with respect thereto under any third party insurance coverage or from any other person (excluding an affiliate of the Indemnified Party) alleged to be responsible therefor, net of any expense incurred by the Indemnified Party in collecting such amount. Any Indemnified Party that makes a claim for indemnification under this Section 11 shall use commercially reasonable efforts to collect any amount available under any such insurance coverage and from any such other person alleged to have responsibility. If an Indemnified Party (or an affiliate) receives an amount under insurance coverage or from such other person with respect to a Loss at any time subsequent to any indemnification provided the Indemnifying Party pursuant to this Section 11, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the Indemnifying Party in connection with providing such indemnification up to such amount received by the Indemnified Party (or affiliate), net of any expense incurred by the Indemnified Party in collecting such amount.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Forestar Group Inc.), Purchase and Sale Agreement (Forestar Group Inc.), Purchase and Sale Agreement (Forestar Group Inc.)

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Insurance Recoveries. The amount of any Loss shall be reduced by any amount received by the Indemnified Party (or an affiliateAffiliate) with respect thereto under any third party insurance coverage or from any other person Person (excluding an affiliate Affiliate of the Indemnified Party) alleged to be responsible therefortherefore, net of any expense incurred by the Indemnified Party in collecting such amount. Any Indemnified Party that makes a claim for indemnification under this Section 11 ARTICLE XI shall use commercially reasonable efforts to collect any amount available under any such insurance coverage and from any such other person Person alleged to have responsibility. If an Indemnified Party (or an affiliateAffiliate) receives an amount under insurance coverage or from such other person Person with respect to a Loss at any time subsequent to any indemnification provided by the Indemnifying Party pursuant to this Section 11ARTICLE XI, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the Indemnifying Party in connection with providing such indemnification up to such amount received by the Indemnified Party (or affiliateAffiliate), net of any expense incurred by the Indemnified Party in collecting such amount.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Plum Creek Timber Co Inc), Limited Liability Company Agreement (Plum Creek Timber Co Inc)

Insurance Recoveries. The amount of any Loss shall be reduced by any amount received by the Indemnified Party (or an affiliateAffiliate) with respect thereto under any third party insurance coverage or from any other person Person (excluding an affiliate Affiliate of the Indemnified Party) alleged to be responsible therefortherefore, net of any expense incurred by the Indemnified Party in collecting such amount. Any Indemnified Party that makes a claim for indemnification under this Section 11 Article X shall use commercially reasonable efforts to collect any amount available under any such insurance coverage and from any such other person Person alleged to have responsibility. If an Indemnified Party (or an affiliateAffiliate) receives an amount under insurance coverage or from such other person Person with respect to a Loss at any time subsequent to any indemnification provided the Indemnifying Party pursuant to this Section 11Article X, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the Indemnifying Party in connection with providing such indemnification up to such amount received by the Indemnified Party (or affiliateAffiliate), net of any expense incurred by the Indemnified Party in collecting such amount.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Potlatch Corp), Purchase and Sale Agreement (Forestar Group Inc.)

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Insurance Recoveries. The amount of any Loss shall be reduced by any amount received by the Indemnified Party (or an affiliateAffiliate) with respect thereto under any third party insurance coverage or from any other person Person (excluding an affiliate Affiliate of the Indemnified Party) alleged to be responsible therefortherefore, net of any expense incurred by the Indemnified Party in collecting such amount. Any Indemnified Party that makes a claim for indemnification under this Section 11 Article XIII shall use commercially reasonable efforts to collect any amount available under any such insurance coverage and from any such other person Person alleged to have responsibility. If an Indemnified Party (or an affiliateAffiliate) receives an amount under insurance coverage or from such other person Person with respect to a Loss at any time subsequent to any indemnification provided the Indemnifying Party pursuant to this Section 11Article XIII, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by the Indemnifying Party in connection with providing such indemnification up to such amount received by the Indemnified Party (or affiliateAffiliate), net of any expense incurred by the Indemnified Party in collecting such amount.

Appears in 1 contract

Samples: Purchase Agreement (Temple Inland Inc)

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