Litigation Proceeds. Seller acknowledges that the Company expects to receive Litigation Proceeds in the amount of approximately $60.0 million within the next 30 days. Seller has no right or claim to any portion of the $60.0 million or any future Litigation Proceeds that the Company may receive, including any portion of the $91.4 million judgment entered in the Company’s favor on February 25, 2009. Seller irrevocably waives any right to assert any claim or cause of action against the Company in connection with any Litigation Proceeds received by the Company after the Closing.
Litigation Proceeds. All of the Litigation Proceeds.
Litigation Proceeds. Following the Closing, in the event that the Company shall be awarded or otherwise receive by way of settlement or otherwise cash resulting from counterclaims filed by the Company in connection with the Known Litigation Claims and Liabilities (such cash amounts, the “Counterclaim Proceeds”), the Parties agree that such Counterclaim Proceeds shall be distributed by the Company (and Buyer shall cause the Company to so distribute such proceeds) as follows within 15 Business Days of the Company’s receipt thereof:
Litigation Proceeds. In the event any amounts are received by the Company or any Buyer Party (on behalf of the Company) pursuant to the action set forth on Section 5.18 of the Disclosure Schedules, the Buyer Parties shall deliver (or cause to be delivered) the proceeds therefrom (less any costs and expenses incurred by the Buyer Parties or the Company, if any, on behalf of Sellers to recover or deliver such amounts) to Sellers in accordance with each Seller’s Pro Rata Share, by wire transfer of immediately available funds, to such account(s) as Sellers shall designate.
Litigation Proceeds. Seller shall be entitled to additional Purchase Price equal to thirty-three percent (33%) of the Litigation Proceeds, if any, payable to the Representative within thirty (30) days of Buyer's receipt thereof. For purposes of this Section 2.11, "
Litigation Proceeds. In the event the LodgeNet Patent Suit is settled or otherwise finally determined after the Closing, any settlement proceeds or damages received, net of litigation costs incurred by and any net settlement proceeds or damages payable by Parent or the Surviving Corporation on an after tax basis, upon the final non-appealable determination of the LodgeNet Patent Suit shall be paid 30% to Canopy Group and 70% to the Surviving Corporation. Any proceeds, damages or other amounts received by the Company or the Surviving Corporation in connection with any litigation or other claim or Proceeding, including, without limitation, the LodgeNet Patent Suit, shall not impact the calculation of the amount of the Contingent Purchase Price or the Contingent Employee Bonus, if any, pursuant to Sections 1.7(c) and 1.10, respectively.
Litigation Proceeds. Subject to Section 1.11 hereof, principal and interest on the Loans and the Second-Out Term Notes shall be repaid with Litigation Proceeds or Lender Distributions, as the case may be, from time to time in accordance with the Litigation Proceeds Waterfall Provision.
Litigation Proceeds. All proceeds received by the Debtor or to which the Debtor has any right which proceeds represent an award of damages or a settlement from or in connection with any lawsuit brought by the Debtor (or in which the Debtor participated) against any Person;
Litigation Proceeds. Buyer and Sellers agree that fifty percent ------------------- (50%) of any proceeds received by the Company or any successor thereto with respect to the resolution of the Xxxxx-Xxxxx Blow Pipe Co. litigation (whether through settlement, judicial decision or otherwise) (such fifty-percent portion, the "Sellers' Litigation Proceeds"), shall be payable to Sellers' Representative on behalf of the Sellers. Upon receipt, the Sellers' Litigation Proceeds shall be remitted promptly to Sellers' Representative and shall be paid net of (A) the taxes payable by the Company with respect to the Sellers' Litigation Proceeds and (B) fifty percent (50%) of the expenses relating to such litigation to the extent that such expenses were (1) accrued on the books and records of the Company on the date hereof and unpaid on the Closing Date or (2) reasonable expenses relating to such litigation incurred by the Company after the Closing Date; provided, that if the Sellers' Litigation Proceeds are received by the -------- Company prior to Closing, the parties hereto will endeavor to cause the Sellers' Litigation Proceeds to be paid or credited to Sellers in the manner most efficient to all parties. The parties further agree that the Buyer shall have the right, in its reasonable discretion, to control such litigation after, but not before, the Closing Date. Any decision relating to the control of such litigation made by Buyer after the Closing Date shall be presumed reasonable if made in reliance upon written advice from Buyer's counsel.
Litigation Proceeds. Any amounts paid to the Company upon the settlement or final resolution of the matters set forth on Schedule 5.7(a) in excess of any amounts paid or payable by the Company after a settlement or final resolution of the matters set forth on Schedule 5.7(b) shall be promptly distributed to the Members pro rata in accordance with their respective Membership Percentages.
