Common use of Amounts Recovered Clause in Contracts

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.

Appears in 2 contracts

Sources: License Agreement (Genvec Inc), License Agreement (Genvec Inc)