Common use of Litigation Proceeds Clause in Contracts

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.

Appears in 2 contracts

Sources: Interest Purchase Agreement, Interest Purchase Agreement (Eldorado Resorts, Inc.)