Common use of Return of Proceeds Clause in Contracts

Return of Proceeds. Each of NextLevel Systems, CommScope, and GS shall (and shall cause each of its respective Covered Persons over which it has direct or indirect legal or effective control to) promptly pay to each other party any Insurance Proceeds actually received by it to which any of such other party's Covered Persons are entitled pursuant hereto, which other party shall then distribute such Insurance Proceeds to the Covered Person to which they are due pursuant hereto.

Appears in 2 contracts

Sources: Insurance Agreement (Commscope Inc), Insurance Agreement (Nextlevel Systems Inc)