Common use of Reasonable Steps to Mitigate Clause in Contracts

Reasonable Steps to Mitigate. The Indemnitee will take all reasonable steps to mitigate all Losses relating to an Indemnifiable Claim, including availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss for which indemnification would otherwise be due under this ARTICLE 8, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's reasonable expenditures in undertaking the mitigation, together with interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable period.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Texas Genco Holdings Inc), Purchase and Sale Agreement (Aep Texas Central Co)

AutoNDA by SimpleDocs

Reasonable Steps to Mitigate. The Indemnitee will take all reasonable steps to mitigate all Losses losses, damages and the like relating to an Indemnifiable Claim, including availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's ’s reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss loss or expense for which indemnification would otherwise be due under this ARTICLE 8Article 7, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's ’s reasonable expenditures in undertaking the mitigation, together with with, interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable periodJournal, Eastern Edition.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Arizona Public Service Co), Purchase and Sale Agreement (El Paso Electric Co /Tx/)

Reasonable Steps to Mitigate. The Indemnitee will take all reasonable steps to mitigate all Losses losses, damages and the like relating to an Indemnifiable Claim, including availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's ’s reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss loss or expense for which indemnification would otherwise be due under this ARTICLE 87, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's ’s reasonable expenditures in undertaking the mitigation, together with with, interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable periodJournal.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pinnacle West Capital Corp)

Reasonable Steps to Mitigate. The Indemnitee will take all reasonable steps to mitigate all Losses relating to an Indemnifiable Claim, including availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss for which indemnification would otherwise be due under this ARTICLE 87, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's reasonable expenditures in undertaking the mitigation, together with interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable period.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cleco Power LLC)

AutoNDA by SimpleDocs

Reasonable Steps to Mitigate. The Indemnitee will take all reasonable steps to mitigate all Losses Damages relating to an Indemnifiable Claim, including to the extent reasonable in the circumstances availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's ’s reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss loss or expense for which indemnification would otherwise be due under this ARTICLE Article 8, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's ’s reasonable expenditures in undertaking the mitigation, together with with, interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable periodJournal.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Public Service Co of New Mexico)

Reasonable Steps to Mitigate. The Indemnitee will shall take all reasonable steps to mitigate all Losses relating to an Indemnifiable Claim, including availing itself of any defenses, limitations, rights of contribution, claims against third Persons and other rights at law or equity, and will provide such evidence and documentation of the nature and extent of the Indemnifiable Claim as may be reasonably requested by the Indemnitor. The Indemnitee's ’s reasonable steps include the reasonable expenditure of money to mitigate or otherwise reduce or eliminate any Loss for which indemnification would otherwise be due under this ARTICLE 8Article 7, and the Indemnitor will reimburse the Indemnitee for the Indemnitee's ’s reasonable expenditures in undertaking the mitigation, together with interest thereon from the date of payment to the date of repayment at a variable rate of interest equal to the "prime rate" as published in The Wall Street Journal from time to time during the applicable period.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Teco Energy Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.