Common use of Allocation of Recovery Clause in Contracts

Allocation of Recovery. Any damages or other recovery from an infringement action undertaken by either party pursuant to Section 6.1: (i) shall first be used to reimburse the parties for the costs and expenses incurred in such action, and shall thereafter be allocated between the parties as follows, (ii) shall be allocated pro rata to the parties in an amount equal to the damages and expenses actually incurred by each, (iii) then any remainder amount shall be remitted to the party undertaking the infringement action.

Appears in 2 contracts

Sources: License Agreement (Ricex Co), License Agreement (Nutrastar Inc)

Allocation of Recovery. Any damages or other recovery from an ---------------------- infringement action undertaken by either party pursuant to Section 6.1: (i) shall first be used to reimburse the parties for the costs and expenses incurred in such action, and shall thereafter be allocated between the parties as follows, (ii) shall be allocated pro rata to the parties in an amount equal to the damages and expenses actually incurred by each, (iii) then any remainder amount shall be remitted to the party undertaking the infringement action.

Appears in 1 contract

Sources: License Agreement (Nutracea)