Common use of Allocation of Revenues Clause in Contracts

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for periods commencing on and after December 1, 2000, shall be for the account of and belong to Transferee. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee which has become, or which may become, due and payable with respect to any period of time after November 30, 2000, or which may arise from any act, event or circumstance which occurred after that date, then Transferor agrees to hold such amount in trust for the benefit of the Transferee and promptly to deliver said amount to Transferee; and (ii) if Transferee shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000, then Transferee agrees to hold such amount in trust for the benefit of Transferor and promptly to deliver said amount to Transferor. If Cronos U.K. determines in its final reconciliation for periods ended on or prior to November 30, 2000, that Transferor has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. any amount for such periods (any such excess or debt being referred to as a "Deficiency"), and Cronos U.K. asserts against or attempts to collect from Transferee any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos shall, upon demand by Transferee, pay such Deficiency to Cronos U.K. or reimburse Transferee if and to the extent such Deficiency is paid by or assessed against Transferee.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for periods commencing on and after December 1, 2000, shall be for the account of and belong to Transferee. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee which has become, or which may become, due and payable with respect to any period of time after November 30, 2000, or which may arise from any act, event or circumstance which occurred after that date, then Transferor agrees to hold such amount in trust 2 <PAGE> 7 for the benefit of the Transferee and promptly to deliver said amount to Transferee; and (ii) if Transferee shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000, then Transferee agrees to hold such amount in trust for the benefit of Transferor and promptly to deliver said amount to Transferor. If Cronos U.K. determines in its final reconciliation for periods ended on or prior to November 30, 2000, that Transferor has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. any amount for such periods (any such excess or debt being referred to as a "Deficiency"), and Cronos U.K. asserts against or attempts to collect from Transferee any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos shall, upon demand by Transferee, pay such Deficiency to Cronos U.K. or reimburse Transferee if and to the extent such Deficiency is paid by or assessed against Transferee.