Common use of RECOVERY FROM ANOTHER PERSON Clause in Contracts

RECOVERY FROM ANOTHER PERSON. 7.1 If the Sellers pay to the Buyer an amount in respect of a Relevant Claim and a Buyer’s Group Undertaking subsequently recovers from another person an amount in respect of the Loss claimed in such Relevant Claim, the Buyer shall promptly pay to the Sellers an amount equal to the amount, if any, by which the Sum Recovered exceeds the difference between the amount of such Loss and the amount paid by the Sellers in respect of the Relevant Claim.

RECOVERY FROM ANOTHER PERSON. 7.1 8.1 If the Sellers pay Seller pays to the Buyer a Buyer’s Group Company an amount in respect of a Relevant Claim Claim, and a Buyer’s Group Undertaking Company subsequently recovers from another person an amount in respect which is directly referable to the subject matter of the Loss claimed in such Relevant ClaimClaim and which would not otherwise have been received by the Buyer, the Buyer shall promptly pay to the Sellers Seller an amount equal to the amount, if any, by which lesser of: (i) the Sum Recovered exceeds sum recovered from the difference between third party less any reasonable costs and expenses incurred in obtaining such recovery; and (ii) the amount of such Loss and the amount previously paid by the Sellers in respect of Seller to the Relevant ClaimBuyer.