Administration of the Settlement Fund Sample Clauses

Administration of the Settlement Fund. 10.1 The Settlement Administrator shall establish the Settlement Fund in a non-interest- bearing account. The Settlement Administrator shall administer the Settlement Fund, subject to the continuing jurisdiction of the Court and from the earliest possible date, as a qualified settlement fund as defined in Treasury Regulation § 1.468B-1, et seq. Any taxes owed by the Settlement Fund shall be paid by the Settlement Administrator out of the Settlement Fund. Defendants shall not have any other financial obligation under the Agreement, other than, to the extent required, costs of serving notices under the Class Action Fairness Act of 2005, 28 U.S.C. § 1715. In addition, under no circumstances will Defendants have any liability for taxes or tax expenses under the Agreement.
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Administration of the Settlement Fund. 5.1 The Settlement Fund will be administered by the Settlement Administrator. The Settlement Administrator will not use or disburse any part of the Settlement Fund except as provided in this Agreement or by order of the Court.
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Administration of the Settlement Fund. 14. Each Settlement Class Member shall look solely to the Settlement Fund for settlement and satisfaction, as provided herein, of all Released Claims. Except as provided by order of the Court, no Settlement Class Member shall have any interest in the Settlement Fund or any portion thereof. Defendants shall have no liability or responsibility with respect to disbursements from, or administration of, the Settlement Fund.
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Administration of the Settlement Fund. 17. Plaintiffs’ Counsel shall retain a settlement administrator (the “Settlement Administrator”), which shall, subject to the supervision, direction and approval of the Wisconsin Court, oversee administration and distribution of the Settlement Fund.
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Administration of the Settlement Fund. Lead Counsel, or their authorized agents, acting on behalf of the Class, and subject to Court oversight and direction and in compliance with Treasury Regulation § 1.468B-2, shall administer the Settlement Fund under such terms and conditions as may be approved by the Court. Subject to Court order, the Settlement Fund may be used:
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Administration of the Settlement Fund. The funds on deposit in the Settlement Fund shall be invested only in United States Treasury securities and/or securities of United States agencies backed by the full faith and credit of the United States Treasury, and mutual funds or money market accounts that invest exclusively in the foregoing securities. The Settlement Fund shall be structured and managed to qualify as a “qualified settlement fund” described in the Treasury regulations promulgated under Section 468B of the Internal Revenue Code and no Party shall take any position in any filing or before any tax authority that is inconsistent with such treatment. The Financial Institution or another Person designated by Xxxxxx Xxxxxxxx, P.L.C. shall be the Settlement Fund “administrator,” as that term is used in the Section 468B Treasury regulations (the “Administrator”). The Administrator shall (a) prepare and file all income tax and information returns required to be filed, and provide payees with copies of such information returns; (b) pay all taxes owed by the Settlement Fund; (c) pay the fees and expenses incurred by the Financial Institution associated with the administration of the Settlement Fund; and (d) obtain and provide Defendant with the Settlement Fund’s federal taxpayer identification number on or before the date that Defendant transfers funds to the Settlement Fund. The Administrator shall be authorized to retain a certified public accounting firm for these purposes. All taxes on the income of the Settlement Fund and tax-related expenses, including the expenses, if any, of a certified public accounting firm, incurred in connection with the administration of the Settlement Fund shall be paid solely out of the Settlement Fund, shall be considered a cost of administration of the Settlement, and shall be timely paid without further order of the Court. All fees and expenses of the Administrator or the Financial Institution, and of professional advisors engaged by the Administrator or the Financial Institution in connection with the Settlement Fund, shall be funded solely from the Settlement Fund. The Administrator may instruct the Financial Institution to reserve any portion of the Settlement Fund for the purpose of satisfying future or contingent expenses or obligations, including expenses of Settlement Fund administration or any disbursement provided for in Article 7 of this Settlement Agreement. The Parties agree that Defendant has no responsibility, authority, or liability, respecting th...
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Administration of the Settlement Fund 
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Related to Administration of the Settlement Fund

  • Administration of the Trust Fund Section 4.01

  • Administration of the Bank a. The Committee maintains records of employees participating, receives requests, verifies validity, approves, and communicates actions to members and to the District.

  • Administration of the Trust Section 3.01

  • Administration of the Contributions 1.1. The Bank shall be responsible only for performing those functions specifically set forth in this Agreement and shall not be subject to any other duties or responsibilities to the Donors, including, without limitation, any duties or obligations that might otherwise apply to a fiduciary or trustee under general principles of trust or fiduciary law. Nothing in this Agreement shall be considered a waiver of any privileges or immunities of the IBRD and XXX under their Articles of Agreement or any applicable law, all of which are expressly reserved.

  • ADMINISTRATION OF THE CONTRACT 2.2.1 The Architect will provide administration of the Contract as hereinafter described.

  • Administration of Buydown Funds (a) With respect to any Buydown Mortgage Loan, the Subservicer has deposited Buydown Funds in an account that satisfies the requirements for a Subservicing Account (the "Buydown Account"). The Master Servicer shall cause the Subservicing Agreement to require that upon receipt from the Mortgagor of the amount due on a Due Date for each Buydown Mortgage Loan, the Subservicer will withdraw from the Buydown Account the predetermined amount that, when added to the amount due on such date from the Mortgagor, equals the full Monthly Payment and transmit that amount in accordance with the terms of the Subservicing Agreement to the Master Servicer together with the related payment made by the Mortgagor or advanced by the Subservicer.

  • Administration and Servicing of the Trust Fund Section 3.01 Master Servicer to Act as Master Servicer; Special

  • Investment of Funds in the Collection Account and the Distribution Account (a) The Master Servicer may direct any depository institution maintaining the Collection Account (for purposes of this Section 3.12, an "Investment Account"), and the Trustee, in its individual capacity, may direct any depository institution maintaining the Distribution Account (for purposes of this Section 3.12, also an "Investment Account"), to invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

  • Administration of the Plan a. The Plan will be administered by the Company in accordance with its terms and the costs of administration shall be the responsibility of the Company. Upon determination of each Quarterly Profit calculation, such calculation shall be forwarded to the Chair of the Union Negotiating Committee accompanied by a Certificate of Officer signed by the Chief Financial Officer of the Company, providing a detailed description of any adjustments made to Earnings Before Income and Taxes and stating that Profit was determined in accordance with GAAP and that Quarterly Profit was calculated in accordance with this Section.

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