Common use of Costs and Monetary Recovery Clause in Contracts

Costs and Monetary Recovery. Unless the Parties agree otherwise and save as provided above, each Party shall bear all its costs incurred in connection with such lawsuit or other proceeding. Any recovery obtained by either Party, whether by settlement or otherwise, shall be shared in order as follows: (1) The enforcing Party shall recoup all of its costs and expenses incurred in connection with the action; or, if Parties elected to enforce jointly, then Parties shall both recoup their costs and expenses incurred in connection with the action, to the extent possible, and if not possible, each Party shall recoup an equal amount towards their costs and expenses; (2) The other Party shall then, to the extent possible, recover all of its costs and expenses incurred in connection with the action; and