Examples of Proceeds Agreement in a sentence
Finally, Trustee argued that the 2013 Proceeds Agreement could not be the basis for any claim, because the water rights litigation did not result in any recovery.Reynolds opposed Trustee's claim objection.
Reynolds explained that the partiesdrafted the 2013 Proceeds Agreement because O'Gorman was to undergo an operation that she might not survive.However, regardless of the various agreements, Reynolds argued that his secured claim was based entirely on the 2010 Note and DOT; the 2008 Agreement was irrelevant.
The court also determined that the 2013 Proceeds Agreement could not provide a basis for a secured claim; the water rights litigation was not successful and there was no recovery.Reynolds raises several arguments on appeal, which we address in turn.
We need not address Reynolds's additional argument that the 2013 Proceeds Agreement did not constitute an accord and satisfaction of the 2010 Note and DOT.