Examples of Indemnity Payments in a sentence
If an Indemnitee receives a payment (an “Indemnity Payment”) required by this Agreement from an Indemnifying Party in respect of any Loss and subsequently receives Insurance Proceeds, the Indemnitee will pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payments received over the amount of the Indemnity Payments that would have been due if the Insurance Proceeds recovery had been received, realized or recovered before the Indemnity Payments were made.
All such Indemnity Payments shall be made to the designated account of, and in the manner specified in writing by, the Party entitled to such Indemnity Payments.
The calculation of any Indemnity Payments required by this Agreement shall be subject to Section 12.02 of the TMA.
The following benefits are excluded from the Maximum Limit of Indemnity: • Evacuation Benefit• Repatriation Benefit• Family Transportation and Accommodation Benefit• Return of Vehicle Benefit• Rental Expense Benefit• Hotel Convalescence Benefit Indemnity Payments Unless otherwise indicated, all benefits, including those benefits payable for Insured Spouse and/or Insured Dependent Children, will be paid to or at the direction of the Insured Person.
If an Indemnitee receives a payment (an “Indemnity Payment”) required by this Agreement from an Indemnifying Party in respect of any Loss and subsequently receives Insurance Proceeds, the Indemnitee will promptly pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payments received over the amount of the Indemnity Payments that would have been due if the Insurance Proceeds recovery had been received, realized or recovered before the Indemnity Payments were made.