Common use of Subsequent Recovery Clause in Contracts

Subsequent Recovery. If a Vendor pays the Purchaser any amount in respect of a Claim (other than a Claim under the Tax Warranties) and the Purchaser or any member of the Purchaser Group subsequently becomes entitled to recover from a third party a sum which is referable to that Claim (other than a Claim under the Tax Warranties), the Purchaser shall give notice to such Vendor, and shall and shall procure that any relevant member of the Purchaser Group shall, use all reasonable endeavours to recover from such third party. If any amount is actually recovered from such third party, then, after the deduction of the reasonable costs of the Purchaser and each member of the Purchaser Group in obtaining such recovery and any Tax payable on such recovery, the balance (up to the amount actually paid by the relevant Vendor to the Purchaser) shall be repaid by the Purchaser to the Vendors.