Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for Settlement Payments to Settlement Class Members. Often in class actions settlements, some number of class members submitting valid claims and who are then issued a settlement check fail to cash and/or deposit their settlement payments. The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to one or more court-approved charitable organizations as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipient(s) of the cy pres distribution.

Remainder Funds means the funds, if any, that remain in the Settlement Fund after settlement payments for all Valid Claims (as defined below). The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to one or more court-approved charitable organizations as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipients of the cy pres distribution.

Remainder Funds means the amount remaining in the Settlement Fund, if any, after subtracting Class Member Base Payment Amounts, Administrative Expenses, and the Attorneys’ Fees and Litigation Expenses, and Enhancement Payments approved by the Court, before reallocation as required in Section 6.7.

Examples of Remainder Funds in a sentence

Any additional Remainder Funds shall be split, with 50% allocated to the Successful Claimants to increase their individual Base Payment Amounts pro rata, and the other 50% allocated to GPC.
Any funds that remain after the distribution and reissuance of all payments from the Settlement Fund, including for settlement checks that are not cashed by the deadline to do so, will be Remainder Funds that shall be distributed to a charitable organization approved of by the Parties and subject to Court approval.
However, if the Net Proceeds exceed the total of Base Payment Amounts for Successful Claimants, then the Remainder Funds shall be allocated as follows: 1.
Remainder Funds shall not be distributed by the Settlement Administrator prior to one-hundred eighty (180) calendar days after the latest dated Benefit Check, plus an appropriate buffer, to ensure that all Benefit Checks that are not void may be deposited and that such deposits are reflected in the Settlement Fund.
The first $2 million of any Remainder Funds shall be allocated to the Community Fund (as set forth in Section 7 of the Settlement Agreement).

More Definitions of Remainder Funds

Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for settlement payments to Class Members and after a second round of pro rata distributions. The funds remaining in the Settlement Fund after settlement payments have been distributed, after a second round of distributions, and after the time for cashing and/or depositing checks has expired will be Remainder Funds. If necessary, the Remainder Funds will be distributed cy pres to a recipient to be proposed by the parties and approved by the Court.

Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for settlement payments to Class Members and after a second round of pro rata distributions. The funds remaining in the Settlement Fund after settlement payments have been distributed, after a second round of distributions, and after the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to Legal Aid of North Carolina as a cy pres distribution.

Remainder Funds means any funds leftover in the QSF resulting from

Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for settlement payments to Class Members. Often in class actions settlements, some number of class members submitting valid claims and who are then issued a settlement check fail to cash and/or deposit their settlement payments. The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be pro rata distributed to valid claimants, then de minimis or otherwise remaining funds will be sent to one or more court-approved charitable organizations as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipients of the cy pres distribution.

Remainder Funds means: (i) the Required Consent Fund Interests set forth on Schedule V with respect to which all third party and Governmental Authority consents and approvals required to transfer such interests to Purchaser (or its designee) as contemplated by this Agreement shall not have been obtained on or prior to the third Business Day prior to the First Closing Date; and (ii) the LIHTC Funds known as Fund 2040 — MMAFGAFH1 — MMA Affordable Housing Fund 1 and 2041 — XXXXXXXX0 — MMA Financial Guaranteed Affordable Housing Fund 2.

Remainder Funds has the meaning assigned to that term in subsection 2.9.1(b).