Common use of Common Fund Clause in Contracts

Common Fund. a. The settlement amount of $287,500.00 shall be made in two payments. The first payment of $143,750.00 will be due ten days from the Preliminary Approval Date and deposited in the Claims Administrator’s interest-bearing trust account. The second payment of $143,750.00 will be due on the Effective Date. In the event the Effective Date does not occur, no payments or distributions of any kind shall be made pursuant to this Agreement, except the costs and expenses of the Claims Administrator actually accrued, and any of the settlement amount that remains in the Claims Administrator’s interest-bearing trust account shall revert to ▇▇▇▇▇▇▇▇. In the event the Effective Date does occur and ▇▇▇▇▇▇▇▇ fails to make the second payment, Plaintiff agrees to give ▇▇▇▇▇▇▇▇ written notice of any default and not to take other action to cause an order or judgment to be entered in connection with this lawsuit until after seven days have elapsed from the date such notice has been received by ▇▇▇▇▇▇▇▇’▇ attorneys. If Plaintiff must thereafter take action with the Court to enforce the Agreement, Alderfer will pay Plaintiff’s attorneys’ fees and costs. b. The Common Fund shall cover all expenses associated with the Agreement and approved by the Court, including without limitation, Class Notice, Claims Administration Expenses, Class Member Claims, any service award to the Class Representative, and Class Counsel’s Fees as approved by the Court. Interest on the Common Fund shall inure to the benefit of the Class. c. All taxes on the income of the Common Fund, and any costs or expenses incurred in connection with the taxation of the Common Fund, shall be paid out of the Common Fund, shall be considered a cost of administration, and shall be timely paid by the Claims Administrator without prior order of the Court. The Parties shall have no liability or responsibility for the payment of any such taxes. d. In the event that the total value of Authorized Claims submitted exceeds or falls short of the amounts available in the Common Fund after deducting all other expenses, any approved service award, and approved Class Counsel’s Fees, then the payment per carton shall be reduced or increased on a pro rata basis, provided however, that in no instance shall the payment per carton exceed $3.00. In the event that funds remain in the Common Fund following these expenses, the remaining funds shall be distributed pursuant to Terms ¶ 7. e. In no case shall ▇▇▇▇▇▇▇▇ be required to contribute or pay additional funds to the Common Fund and/or the settlement set forth herein beyond the payments referenced herein, including but not limited to any payments for attorneys’ fees or fees associated with notice and/or administration.

Common Fund. a. The In consideration of a full, complete, and final settlement amount of $287,500.00 shall be made in two payments. The first payment this Action, dismissal of $143,750.00 will be due ten the Action with prejudice, and the releases below, and subject to the Court’s approval, the Parties agree to the following relief: If no appeal of the Court’s Final Approval Order is timely filed, within 5 days from the Preliminary Approval Date and deposited in the Claims Administrator’s interest-bearing trust account. The second payment of $143,750.00 will be due on the Effective Date. In the event the Effective Date does not occur, no payments or distributions of any kind shall be made pursuant to this Agreement, except the costs and expenses within 35 days of the Claims Administrator actually accrued, and any date of entry of the settlement amount that remains in Final Judgment (whichever is later), Plains shall pay the Claims Administrator’s interest-bearing trust account shall revert to ▇▇▇▇▇▇▇▇. In the event the Effective Date does occur and ▇▇▇▇▇▇▇▇ fails to make Class Settlement Amount into the second payment, Plaintiff agrees to give ▇▇▇▇▇▇▇▇ written notice of any default and not to take other action to cause an order or judgment to be entered in connection with this lawsuit until after seven days have elapsed from the date such notice has been received by ▇▇▇▇▇▇▇▇’▇ attorneys. If Plaintiff must thereafter take action with the Court to enforce the Agreement, Alderfer will pay Plaintiff’s attorneys’ fees and costs. b. The Common Fund shall cover all expenses associated with the Agreement and approved by the Court, including without limitation, Class Notice, Claims Administration Expenses, Class Member Claims, any service award to the Class Representative, and Class Counsel’s Fees as approved by the Court. Interest on the Common Fund shall inure to the benefit of the Class. c. All taxes on the income of the Common Fund, and any costs or expenses incurred in connection with shall pay the taxation of Property Class Settlement Amount into the Property Class Common Fund, shall be paid out of . Both the Common Fund, shall be considered a cost of administration, and shall be timely paid by the Claims Administrator without prior order of the Court. The Parties shall have no liability or responsibility for the payment of any such taxes. d. In the event that the total value of Authorized Claims submitted exceeds or falls short of the amounts available in the Common Fund after deducting all other expenses, any approved service award, and approved Class Counsel’s Fees, then the payment per carton shall be reduced or increased on a pro rata basis, provided however, that in no instance shall the payment per carton exceed $3.00. In the event that funds remain in the Common Fund following these expenses, the remaining funds shall be distributed pursuant to Terms ¶ 7. e. In no case shall ▇▇▇▇▇▇▇▇ Class Common Fund and the Property Class Common Fund shall be required administered by the Settlement Administrator. If an appeal of the Court’s Final Approval Order is timely filed, the Parties will establish an escrow account into which Plains will pay the ▇▇▇▇▇▇ Class Settlement Amount and the Property Class Settlement Amount within 35 days of the entry of the Final Judgment. The costs and fees of the escrow shall be paid from the amounts in the escrow account. The escrowed funds shall be invested in short-term U.S. Treasuries. If the appeal results in termination of this Settlement Agreement under Article VI.5, the escrowed funds, including any interest earned, shall be returned to contribute or pay additional Plains. If the appeal does not result in termination of the Settlement Agreement under Article VI.5, the escrowed funds, including any interest earned, shall be paid into the ▇▇▇▇▇▇ Class Common Fund and the Property Class Common Fund within 10 days of the Effective Date. The Settlement Administrator shall disburse funds from the ▇▇▇▇▇▇ Class Common Fund and the Property Class Common Fund pursuant to the Common Fund and/or terms of this Settlement Agreement and in accordance with the settlement set forth herein beyond orders of the payments referenced hereinCourt. In no event shall Defendants’ monetary liability under this Settlement Agreement exceed the sum of the ▇▇▇▇▇▇ Class Settlement Amount and the Property Class Settlement Amount, including but not limited to any payments for attorneys’ fees or fees associated with notice and/or administrationi.e., U.S. $230 million ($230,000,000.00), as described in this Article.