Common use of Proceeds Recovered Clause in Contracts

Proceeds Recovered. Any amount received by ▇▇▇▇▇▇ as a result of any proceeding referred to in Subsection 7.1.3, shall be distributed and paid as follows: (a) first, to reimburse ▇▇▇▇▇▇ for all expenses incurred by it in connection with such proceeding; (b) second, to reimburse BGM for any ▇▇▇▇▇▇ pre-approved expenses incurred by it in connection with such proceeding; and (c) third, any additional amounts remaining after such application shall be shared equally by the Parties.