Common use of Limitations on Losses Clause in Contracts

Limitations on Losses. (a) In case any event shall occur that would otherwise entitle any party to assert a claim for indemnification hereunder, no Losses shall be deemed to have been sustained by such party to the extent of (i) any actual tax savings realized by such party with respect thereto or (ii) any proceeds (net of deductibles, taxes and collection costs) received by such party from any insurance policies maintained by or on behalf of such party with respect to such Losses. The parties agree to submit a claim under such insurance policies prior to or promptly following making a request for indemnification hereunder.

Limitations on Losses. (a) In case any event shall occur that would otherwise entitle any party to assert a claim for indemnification hereunder, no Losses shall be deemed to have been sustained by such party to the extent of (i) any actual tax savings realized by such party with respect thereto or (ii) any proceeds (net of deductibles, taxes and collection costs) received by such party from any insurance policies maintained by or on behalf of such party with respect to losses to such Lossesparty's property. The parties agree to submit a claim under such insurance policies prior to or promptly following making a request for indemnification hereunder.

Limitations on Losses. (a) In case any event shall occur that which would otherwise entitle any party to assert a claim for indemnification hereunder, no Losses shall be deemed to have been sustained by such party to the extent of (i) any actual tax Tax savings realized by such party with respect thereto or (ii) any proceeds (net of deductibles, taxes and collection costs) received by such party from any property insurance policies maintained by or on behalf of such party with respect to losses to such Lossesparty's property. The parties agree to submit a claim under such property insurance policies prior to or promptly following making a request for indemnification hereunder.