Common use of Distribution of Awards Clause in Contracts

Distribution of Awards. Any monetary award received as a result of proceedings contemplated by this Section 9.1 shall be first used to compensate: 9.1.3.1 the party who has primary control over the action for its costs relating to the action; and 9.1.3.2 the other party for its costs relating to the action. Any award monies remaining after such reimbursement shall be paid to the party who had primary conduct of the action, provided that if S&N is that party, then such amounts shall be deemed to be Net Sales received in the quarter in which such amount is received by S&N. However, if both parties took primary conduct of the action, then such amount shall be divided equally between the parties.

Appears in 4 contracts

Samples: License and Development Agreement, License and Development Agreement (NUCRYST Pharmaceuticals Corp.), License and Development Agreement (NUCRYST Pharmaceuticals Corp.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!