Amounts Recovered Sample Clauses

The 'Amounts Recovered' clause defines how any funds or assets recovered in connection with a claim, loss, or liability are to be handled between the parties. Typically, this clause specifies the process for distributing recovered amounts, such as whether they are used to reimburse costs, pay damages, or offset previous payments made under the agreement. Its core practical function is to ensure fairness and clarity in the allocation of recovered sums, preventing disputes over who is entitled to what portion of any recovery.
Amounts Recovered. Any amounts recovered by the Plan Sponsor during the Agreement period through subrogation, claims re-adjudication, or other Recoveries shall not apply to and shall not be used to satisfy the specific limits identified in the Schedule of Coverage.
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Amounts Recovered. In any litigation brought solely by Pitt, any amounts recovered from any unauthorized user will be paid to Pitt. In any litigation brought by GenVec, any amounts recovered from any unauthorized user shall be paid to GenVec. The amount of any such damages recovered by GenVec shall, after first deducting GenVec's out-of-pocket expenses (including attorneys and expert fees) in bringing and prosecuting the action which resulted in such damages, be added into Net Sales Receipts for the fiscal quarter in which such damages were received by GenVec. If GenVec, while successful in enforcing the Patent Rights, recovers less than its out-of-pocket expenses incurred as a result of such litigation, GenVec shall be entitled to deduct from payments otherwise due to Pitt hereunder * of the difference between any amount received and those amounts expended by GenVec in the conduct of such litigation.
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Amounts Recovered. Any amounts recovered by either Party for past Infringement that occurs in the Field of Use in connection with a suit pursuant to this Section 5, whether by settlement or judgment, shall be used to reimburse the Parties for their reasonable out-of-pocket costs and expenses in making such recovery (which amounts shall be allocated first to the party acting as Primary Enforcement Party if such amounts are insufficient to cover such costs and expenses in full). Any remainder that relates to an Infringement of Licensed IP occurring in the Field of Use shall belong in full to Intuitive and/or an Affiliate of Intuitive (as applicable), and any remainder that relates to an Infringement occurring outside the Field of Use of IP that is owned or Controlled by Cardica or a Cardica Affiliate and that is not licensed to Intuitive shall belong to Cardica.
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Amounts Recovered. If Licensee commences litigation, then any recovery in excess of any unrecovered litigations costs and fees will be shared with University as follows: (a) any payments for past or future sales will be deemed Net Sales and Licensee shall pay University royalties at the rate specified in Section 10.4 of the Business Terms; (b) all other amounts recovered will be deemed Sublicense Consideration and Licensee shall pay University royalties at the rate specified in Section 10.6 of the Business Terms.
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Amounts Recovered. The amount of any Claim shall be determined after giving effect to any amount actually recovered from an insurer or any other third party, and the parties hereto agree to act in a commercially reasonable manner in connection with making a claim against their respective insurers or any third party or accepting a settlement.
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Amounts Recovered. Any amounts recovered by either Party for past Infringement in connection with a suit pursuant to this Section 10, whether by settlement or judgment, shall be used to reimburse the Parties for their reasonable out-of-pocket costs and expenses in making such recovery (which amounts shall be allocated first to the party acting as Primary Enforcement Party if such amounts are insufficient to cover such costs and expenses in full). Any remainder that relates to an Infringement of Licensed IP occurring in the Field of Use shall belong in full to ISRG and/or an Affiliate of ISRG (as applicable), and any remainder that relates to an Infringement occurring outside the Field of Use of IP that is owned or Controlled by PMII or a PMII Affiliate and that is not licensed to ISRG shall belong to PMII.
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Related to Amounts Recovered

  • Expenses and Recoveries The enforcing Party bringing a claim, suit or action under this Section 4.3 shall be solely responsible for any expenses incurred by such Party as a result of such claim, suit or action. If such Party recovers monetary damages in such claim, suit or action, except as otherwise agreed by the Parties in connection with a cost-sharing arrangement, such recovery shall be allocated first to the reimbursement of any expenses incurred by the Parties in such litigation, and any remaining amounts shall be shared as follows: [***].

  • Overpayments Contractor promptly shall refund to Purchaser the full amount of any erroneous payment or overpayment. Such refunds shall occur within thirty (30) calendar days of written notice to Contractor; Provided, however, that Purchaser shall have the right to elect to have either direct payments or written credit memos issued. If Contractor fails to make timely refunds of overpayment(s) (either directly or by credit memo), Contractor shall pay Purchaser interest at the rate of one percent (1%) per month on the amount overdue thirty (30) calendar days after notice to Contractor.

  • Disbursements Payments and Costs 5.1 Request for Credit. Each request for an advance under the Line of Credit will be made by a disbursement request in a form acceptable to Bank executed by an Authorized Officer, or by any other means acceptable to Bank.

  • Our Right to Make Payments and Recover Overpayments If payments which should have been made by us according to this provision have actually been made by another organization, we have the right to pay those organizations the amounts we decide are necessary to satisfy the rules of this provision. These amounts are considered benefits provided under this plan and we will not have to pay those amounts again. If we make payments for allowable expenses, which are more than the maximum amount needed to satisfy the conditions of this provision, we have the right to recover the excess amounts from: • the person to or for whom the payments were made; • any other insurers; and/or • any other organizations (as we decide). As the subscriber, you agree to pay back any excess amount paid, provide information and assistance, or do whatever is necessary to aid in the recovery of this excess amount. The amount of payments made includes the reasonable cash value of any

  • Indemnification Obligations Net of Insurance Proceeds and Other Amounts (a) The Parties intend that any Liability subject to indemnification, contribution or reimbursement pursuant to this Article IV or Article V will be net of Insurance Proceeds or other amounts actually recovered (net of any out-of-pocket costs or expenses incurred in the collection thereof) from any Person by or on behalf of the Indemnitee in respect of any indemnifiable Liability. Accordingly, the amount which either Party (an “Indemnifying Party”) is required to pay to any Person entitled to indemnification or contribution hereunder (an “Indemnitee”) will be reduced by any Insurance Proceeds or other amounts actually recovered (net of any out-of-pocket costs or expenses incurred in the collection thereof) from any Person by or on behalf of the Indemnitee in respect of the related Liability. If an Indemnitee receives a payment (an “Indemnity Payment”) required by this Agreement from an Indemnifying Party in respect of any Liability and subsequently receives Insurance Proceeds or any other amounts in respect of such Liability, then within ten (10) calendar days of receipt of such Insurance Proceeds, the Indemnitee will pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payment received over the amount of the Indemnity Payment that would have been due if the Insurance Proceeds or such other amounts (net of any out-of-pocket costs or expenses incurred in the collection thereof) had been received, realized or recovered before the Indemnity Payment was made. (b) The Parties agree that an insurer that would otherwise be obligated to pay any claim shall not be relieved of the responsibility with respect thereto or, solely by virtue of any provision contained in this Agreement or any Ancillary Agreement, have any subrogation rights with respect thereto, it being understood that no insurer or any other Third Party shall be entitled to a “windfall” (i.e., a benefit they would not be entitled to receive in the absence of the indemnification provisions) by virtue of the indemnification and contribution provisions hereof. Each Party shall, and shall cause the members of its Group to, use commercially reasonable efforts (taking into account the probability of success on the merits and the cost of expending such efforts, including attorneys’ fees and expenses) to collect or recover any Insurance Proceeds that may be collectible or recoverable respecting the Liabilities for which indemnification or contribution may be available under this Article IV. Notwithstanding the foregoing, an Indemnifying Party may not delay making any indemnification payment required under the terms of this Agreement, or otherwise satisfying any indemnification obligation, pending the outcome of any Action to collect or recover Insurance Proceeds, and an Indemnitee need not attempt to collect any Insurance Proceeds prior to making a claim for indemnification or contribution or receiving any Indemnity Payment otherwise owed to it under this Agreement or any Ancillary Agreement.