Sharing of Proceeds Clause Samples
The Sharing of Proceeds clause defines how any financial gains, revenues, or profits resulting from a joint activity or agreement will be distributed among the involved parties. Typically, this clause outlines the specific percentages or formulas used to allocate proceeds, and may address timing, methods of payment, and any deductions or expenses to be considered before distribution. Its core function is to ensure transparency and fairness in dividing shared earnings, thereby preventing disputes and clarifying expectations regarding financial outcomes.
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Sharing of Proceeds. (a) Subject to the remaining provisions of this Section 3.2, if a Swap Counterparty obtains any payments (other than scheduled payments on any Obligations, in each case received in the ordinary course either (i) prior to such Swap Counterparty’s receipt of written notice from another Swap Counterparty that an Event of Default or Termination Event has occurred and is continuing under which Accredited is the Defaulting Party or the Affected Party (as such terms are used in the Swaps) or (ii) after such Event of Default no longer shall be continuing) or proceeds of the Collateral, from Accredited with respect to any of the Obligations, including from the exercise of any setoff rights (hereinafter called a “Sharing Payment”), such Swap Counterparty shall either (i) promptly cause such amounts to be delivered to or put in the custody, possession or control of the Collateral Agent for disposition and distribution in accordance with Section 3.1 hereof or (ii) if such Swap Counterparty has not promptly complied with subclause (i) next above, promptly purchase from the remaining Swap Counterparties participations in the Obligations owing to the remaining Swap Counterparties and shall make such other adjustments from time to time as shall be equitable (herein, the purchase of such participations or the making of such other adjustments being called “Sharing Adjustments”) to the end that all Swap Counterparties shall share the benefit of such Sharing Payment pro rata in accordance with the respective outstanding principal amount of Obligations then owing to each Swap Counterparty.
(b) If, during the course of, or pursuant to, any bankruptcy, insolvency, reorganization, receivership, dissolution or similar proceeding or the assignment for the benefit of creditors or any other marshalling of assets (a “Bankruptcy Proceeding”) of Accredited, a Swap Counterparty (the “Returning Swap Counterparty”) is required by a court or other tribunal of competent jurisdiction, pursuant to Section 547 of the Bankruptcy Code or an analogous provision of other applicable law, to disgorge, refund, rebate or otherwise return any payment received for which there has been a distribution under Section 3.1 hereof to such Returning Swap Counterparty with respect to the Obligations (a “Disputed Payment”) to any trustee presiding over such Bankruptcy Proceeding or to any other person or entity, the other Swap Counterparty shall promptly pay to the Returning Swap Counterparty its respective pro ra...
Sharing of Proceeds. The proceeds from any license, partnership or asset sale entered into pursuant to Section 4.2.8.2 shall be shared between the Parties according to the Profit Share Percentage after each Party recovers its reasonable transactions costs associated therewith.
Sharing of Proceeds. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or recovery in trust for the benefit of all Secured Parties for distribution in accordance with Section 11.1.
Sharing of Proceeds. Section 7(h) of the Multi-Field Agreement, entitled "Sharing of Proceeds," shall not apply to proceeds received by, or that may become payable to, Corixa in connection with the sublicense, assignment or other conveyance of rights or materials to a third party under the New Agreements which proceeds are shared by Corixa with GSK under the New Agreements except as and to the extent the provisions of such Section 7(h) are incorporated by reference into the Collaboration Agreement.
Sharing of Proceeds. If Baylor licenses rights to a Released Product as and to the extent permitted under this Section 3.6, Kuur and Baylor shall share the amounts received by Baylor under such license: (i) with [*]_____________ to Kuur and [*]___________ to Baylor until the amounts received by Kuur under this Section 3.6 equal Kuur’s payments under the Development Plan and disbursed in accordance with the Development Budget for such Released Product, and (ii) thereafter, with [*]______________ to Baylor and [*]_____________ to Kuur.
Sharing of Proceeds. MTI and ILC agree to use their best efforts in order to renew or sell in place or to re-lease or sell to a new Lessee or customer any and all equipment included under an original MSODA (or non-MSODA) which has reached or shall reach termination. In consideration for the sharing of such proceeds (5A, B and C), MTI agrees to:
(a) Receive and inventory off-lease equipment,
(b) Provide ILC with written notice within 10 business days of receipt of off-lease equipment of any irregularities in the equipment (malfunctions, needed repairs, etc.) and a cost estimate to fix such irregularities,
(c) MTI shall notify ILC once each calendar month as to the results of MTI's re-marketing efforts for off-lease equipment,
(d) MTI agrees that ILC, notwithstanding any provision herein regarding sharing of proceeds, shall be entitled to retain as its own, all discounting proceeds and Interim Availability Rental paid by MTI Lessees, and
(e) MTI and ILC agree to bear all out-of-pocket expenses incurred in connection with their respective re-marketing services and such expenses will not be deducted from rent or sale proceeds.
Sharing of Proceeds. On the date hereof, INT has sold the Assets to the Corporation pursuant to the Bil▇ ▇▇ Sale. In connection with the sale and purchase of the Assets, the Corporation shall pay INT a portion of the sales proceeds with respect to the inventories set forth on Schedule 2.1 (excluding sales of any such inventory described in Section 2.1
Sharing of Proceeds. The proceeds received through enforcement of the liens and security interests granted and provided for in the Security Documents shall be shared among the Holders as follows:
(a) First, to the payment of any outstanding costs and expenses (including attorneys’ fees) incurred by any of the Holders in enforcing such liens and security interests and in protecting and collecting the proceeds of the Collateral (“Foreclosure Costs”), to the extent such foreclosure costs have not theretofore been reimbursed; and
(b) Second, to the payment of the unpaid principal and interest balance of the Notes, pro rata in accordance with the then outstanding principal amounts of, and accrued interest on, the Notes then outstanding at the time of any such determination.
Sharing of Proceeds. If Baylor licenses rights to a Released Product as and to the extent permitted under this Section 3.6, Cell Medica and Baylor shall share the amounts received by Baylor under such license: (i) [*] until the amounts received by Cell Medica under this Section 3.6 equal Cell Medica’s payments under the Development Plan and disbursed in accordance with the Development Budget for such Released Product, and (ii) thereafter, with [*].
Sharing of Proceeds. Proceeds from disposition of properties and equipment (including simulated proceeds from a deemed disposition) shall be shared in the ratio in which the cost of such properties and equipment was charged up to the amount deemed undepreciated and undepleted cost as determined for purposes of the Capital Accounts and any excess (along with the related proceeds from any disposition of properties and equipment) shall be shared in the ratio in which joint venture revenues are shared.