Preferential Right. 2.1. In the event that the Master Royalty Recipient is declared insolvent or bankrupt, owners of Royalty Shares shall be entitled to receive, out of the Master Royalties available for distribution to Royalty Share owners, payment distributed in accordance with the following priority system: ■ Payments shall first be made to Royalty Share with token identification number one (1).
Appears in 7 contracts
Samples: General Purchase Agreement, General Purchase Agreement, General Purchase Agreement
Preferential Right. 2.1. In the event that the Master Royalty Recipient is declared insolvent or bankrupt, owners of Royalty Shares shall be entitled to receive, out of the Master Royalties available for distribution to Royalty Share owners, payment distributed in accordance with the following priority system: ■ Payments shall first be made to Royalty Share with token identification number one (1).
Appears in 2 contracts
Samples: General Purchase Agreement, General Purchase Agreement
