Subsequent Proceeds Clause Samples
Subsequent Proceeds. In the event of a Bifurcated Closing, on the Rights Offering Closing Date, following the receipt by CAC of the total proceeds from the Rights Offering (including any additional proceeds from the Sponsors as set forth in Section 3.1(b)), subject to Section 2.2(d) (such amount, the “Rights Offering Proceeds;” the Initial Proceeds and the Rights Offering Proceeds collectively, the “Contributed Proceeds”):
(1) CAC shall contribute, transfer, convey, assign and deliver to Growth Partners, and Growth Partners shall receive and accept from CAC, the Rights Offering Proceeds, which shall be made by one or more wire transfers in immediately available funds to an account or accounts previously identified by Growth Partners; and
(2) Growth Partners shall issue to CAC, and CAC shall receive and accept from Growth Partners, free and clear of any Liens (other than those under any Ancillary Agreements), a total number of Class A Voting Units representing an aggregate economic interest in Growth Partners equal to the Subsequent CAC Percentage Interest, in consideration for the contribution by CAC to Growth Partners of the Rights Offering Proceeds as set forth above. For the avoidance of doubt, the sum of the Initial CAC Percentage Interest and the Subsequent CAC Percentage Interest shall equal the CAC Percentage Interest.
Subsequent Proceeds. (a) Scanner shall keep sixty percent (60%) of the Subsequent Proceeds and shall pay to CEO forty percent (40%) of the Subsequent Proceeds until Scanner has been reimbursed for all attorney fees and other expenses incurred in connection with (i) the ICOS Litigation, to the extent Scanner has not already been reimbursed for these fees and expenses under Section 2.1(a) of this Agreement, and (ii) the Subsequent Litigation, and until CEO has received the total amount of One Million Two Hundred Fifty Four Thousand Five Hundred Seventy Five Dollars ($1,254,575), minus any amounts CEO has already received under Section 2.1(a). If one party has received all the amounts owing to such party under Section 2.1(a) and/or this provision before the other party's claim under this provision has been satisfied, the other party shall receive one hundred percent (100%) of the Subsequent Proceeds until its claim is satisfied.
(b) Scanner shall pay to CEO twenty five percent (25%) of any remaining balance of the Subsequent Proceeds (the "Remaining Subsequent Proceeds")