Common use of Judgment Reduction Clause in Contracts

Judgment Reduction. In the event that another insurer of the Debtors brings a claim for contribution, subrogation, indemnification, reimbursement or other similar claim, against Everest and/or Mt. McKinley in connection with Claims released in this Agreement, and su▇▇ ▇▇▇▇▇er obtains a final binding arbitration award or final judgment against or a settlement with Everest and/or Mt. McKinley (with the consent of the Debtors prior to the Effective Date ▇▇ ▇▇▇▇ the consent of the Plan Trust following said Effective Date, which consent in either case shall not be unreasonably withheld), the Debtors or the Plan Trust (as the case may be) shall voluntarily reduce the amount of any final binding arbitration award, final judgment or settlement payment that they have obtained or may obtain from such other insurer by the amount of such other insurer's final binding arbitration award or final judgment awarded against or settlement with Everest and/or Mt. McKinley in connection with such contribution, subrogation, indemnifi▇▇▇▇▇▇ ▇r other similar claim and shall direct that Everest and/or Mt. McKinley (as the case may be) shall not be subject to liability for s▇▇▇ ▇▇▇▇ment, arbitration award or settlement. Such a reduction in judgment or arbitration award or settlement will be accomplished by subtracting from the judgment, arbitration award or settlement against the other insurers the share of the judgment, arbitration award or settlement attributable to Everest and/or Mt. McKinley (as the case may be).

Judgment Reduction. In the event that another insurer of the Debtors brings a claim for contribution, subrogation, indemnification, reimbursement or other similar claim, against Everest and/or Mt. McKinley in connection with Claims released in this Agreement, and sus▇▇▇ ▇▇▇▇▇er rer obtains a final binding arbitration award or final judgment against or a settlement with Everest and/or Mt. McKinley (with the consent of the Debtors prior to the Effective Date Dat▇ ▇▇ ▇▇▇▇ h the consent of the Plan Trust following said Effective Date, which consent in either case shall not be unreasonably withheld), the Debtors or the Plan Trust (as the case may be) shall voluntarily reduce the amount of any final binding arbitration award, final judgment or settlement payment that they have obtained or may obtain from such other insurer by the amount of such other insurer's final binding arbitration award or final judgment awarded against or settlement with Everest and/or Mt. McKinley in connection with such contribution, subrogation, indemnifiindemnif▇▇▇▇▇▇▇ ▇r or other similar claim and shall direct that Everest and/or Mt. McKinley (as the case may be) shall not be subject to liability for s▇▇▇▇ ▇▇▇▇mentgment, arbitration award or settlement. Such a reduction in judgment or arbitration award or settlement will be accomplished by subtracting from the judgment, arbitration award or settlement against the other insurers the share of the judgment, arbitration award or settlement attributable to Everest and/or Mt. McKinley (as the case may be).