Reductions for Insurance Proceeds. The amount that any Indemnifying Party is or may be required to pay to any Indemnitee pursuant to this ARTICLE VI shall be reduced (retroactively or prospectively, as applicable) by any insurance proceeds in respect of the related Indemnifiable Losses (net of all costs of recovery, including deductibles, co-payments or other payment obligations (excluding premiums)) solely to the extent actually received by the Indemnitee. The existence of a claim or a potential claim by an Indemnitee for insurance in respect of any Indemnifiable Loss shall not, however, delay or reduce any payment pursuant to the indemnification provisions contained herein and otherwise determined to be due and owing by an Indemnifying Party. Notwithstanding any other provisions of this Agreement, it is the intention of the Parties hereto that no insurer shall be (x) entitled to a benefit it would not be entitled to receive in the absence of the foregoing indemnification provisions or (y) relieved of the responsibility to pay any claims for which it is obligated. If an Indemnitee shall have received the payment required by this Agreement from an Indemnifying Party in respect of any Indemnifiable Losses and shall subsequently actually receive insurance proceeds in respect of such Indemnifiable Losses, then such Indemnitee shall hold such insurance proceeds in trust for the benefit of such Indemnifying Party and shall pay to such Indemnifying Party a sum equal to the amount of such insurance proceeds actually received (net of all costs of recovery, including deductibles, co-payments or other payment obligations and without interest), up to the aggregate amount of any payments received from such Indemnifying Party pursuant to this Agreement in respect of such Indemnifiable Losses.
Reductions for Insurance Proceeds. If an Indemnitee receives Insurance Proceeds or other amounts from an insurer or third party with respect to an Insurance Claim for any indemnifiable loss under this Agreement:
Reductions for Insurance Proceeds. Whenever this Design-Build Contract obligates the City to pay any amount to the Design-Builder in respect of an event or circumstance for which, or with respect to the consequences of which, an insurance claim may be made by the Design-Builder under the Required Insurance, the amount which the City is obligated to pay will be reduced by the amount of insurance proceeds which the Design-Builder recovers or would have been entitled to recover if it had complied with the requirements of this Design-Build Contract or any policy of Required Insurance. Article 39 UNCONTROLLABLE CIRCUMSTANCES
Reductions for Insurance Proceeds. Whenever this Service Agreement obligates the BWS to pay any amount to the DBOM Contractor in respect of an event or circumstance for which, or with respect to the consequences of which, an insurance claim may be made by the DBOM Contractor under the Required Insurance, the amount which the BWS is obligated to pay will be reduced by the amount of insurance proceeds which the DBOM Contractor recovers or would have been entitled to recover if it had complied with the requirements of this Service Agreement or any policy of Required Insurance. Whenever this Service Agreement obligates the DBOM Contractor to pay any amount to the BWS in respect of an event or circumstance for which, or with respect to the consequences of which, an insurance claim may be made by the BWS under the insurance required by subsection (E) (BWS Insurance) of this Section, the amount which the DBOM Contractor is obligated to pay will be reduced by the amount of insurance proceeds which the BWS recovers or would have been entitled to recover if it had complied with the requirements of subsection (E) (BWS Insurance) of this Section.
