Common use of Obligations to Maximize Funding Proceeds Clause in Contracts

Obligations to Maximize Funding Proceeds. Between the date on which a judgment is entered with respect to any BSI Litigation Matter and the related Deposit Date, each member of the HI Group and the BSI Group shall use its best efforts to raise the Maximum Funding Proceeds. Prior to using any funds deposited by HI to satisfy a BSI Litigation Funding Obligation, BSI shall first use all of the Maximum Funding Proceeds from the Initial BSI Funding Tranche for such purpose. Prior to using any funds deposited by BSI with respect to the Second BSI Funding Tranche, HI shall use all funds deposited by HI with respect to the HI Funding Tranche.

Appears in 5 contracts

Samples: Judgment Sharing Agreement (Hillenbrand, Inc.), Judgment Sharing Agreement (Batesville Holdings, Inc.), Judgment Sharing Agreement (Batesville Holdings, Inc.)

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