Application of Recoveries. Any sums recovered in respect of a payment made pursuant to an EDC Support Agreement shall be first applied to the costs and expenses incurred by EDC to effect such recovery and then retained by EDC to the extent that any monies are due to EDC from the Principal pursuant to this Indemnity Agreement, provided that any monies remaining thereafter shall, subject to applicable law, be paid to the Principal.
Appears in 4 contracts
Samples: Master Indemnity Agreement (Nortel Networks LTD), Master Facility Agreement (Nortel Networks LTD), Master Facility Agreement (Nortel Networks Corp)
