Common use of Indemnity Amount Clause in Contracts

Indemnity Amount. Except as otherwise provided in this Article V, in the event that either the Owner or the Management Company, as applicable, is obligated to indemnify and hold an Indemnified Party harmless under this Article V, the amount owing to the Indemnified Party will be the amount of the Indemnified Party’s actual loss net of any insurance proceeds actually received by the Indemnified Party following a reasonable effort by the Indemnified Party to obtain such insurance proceeds.

Indemnity Amount. Except as otherwise provided in this Article V, in the event that either the Owner Company or the Management CompanyService Provider, as applicable, is obligated to indemnify and hold an Indemnified Party harmless under this Article V, the amount owing to the Indemnified Party will be the amount of the Indemnified Party’s actual loss net of any insurance proceeds or other Third Party recovery actually received by the Indemnified Party following a reasonable effort by the Indemnified Party to obtain such insurance proceedsproceeds or recovery.