Additional Component Sample Clauses

Additional Component. To the extent that the Additional Component is to be distributed as provided in paragraph 88(a)(1), it shall be distributed as follows. (1) First, the amount available for Additional Component payments shall be the Net Settlement Fund minus the total amount of Base Component payments to all Participating Settlement Class Members. As an example, and to avoid doubt, if the Net Settlement Fund were One Million Three Hundred Fifty Thousand and 00/100 Dollars ($1,350,000.00) and the total amount of Base Component (2) The amount available for Additional Component payments shall then be divided pro rata among Participating Settlement Class Members according to the period of time that the Participating Settlement Class Member was in a Non-Graduated State. Each Participating Settlement Class Member’s Non-Graduated State shall be equal to the number of months that passed between (A) the month following the first period of seven consecutive months of non-default on the Participating Settlement Class Member’s Account, and (B) the earliest of (i) the month in which the Participating Settlement Class Member graduated to an unsecured account, (ii) the month in which the Participating Settlement Class Member closed their Account, or (iii) the month of Preliminary Approval. The total amount available for Additional Component payments shall be divided by the total months the Participating Settlement Class Members were in a Non- Graduated State to calculate the Additional Component payment for each month a Participating Settlement Class Member was in a Non-Graduated State (“Monthly Additional Component Value”). If a Participating Settlement Class Member were in a Non-Graduated State for one month, for example, their Additional Component payment would be exactly the Monthly Additional Component Value. If they were in a Non-Graduated State for two months, their Additional Component payment would be double the Monthly Additional Component Value. The amount of each Participating Settlement Class Member’s Additional Component shall be added to the Base Component and paid simultaneously.