Distribution of Settlement Payments. The Settlement Administrator will first apply the Net Settlement Fund to pay for CMIS claimed by Class Members. If Net Settlement Funds remain after paying for the CMIS, the Settlement Administrator will next use it to pay all Documented Loss Payments and Lost Time Payments. The amount of the Net Settlement Fund remaining after all Documented Loss Payments, Lost Time Payments, and CMIS payments are made shall be referred to as the “Post DC Net Settlement Fund.” The Settlement Administrator shall then utilize the Post DC Net Settlement Fund to make all Cash Fund Payments pursuant to Section 3.2(d) herein. The amount of each Cash Fund Payment shall be calculated by dividing the Post DC Net Settlement Fund by the number of valid claims submitted. In the event the Net Settlement Fund is insufficient to cover the payment for the CMIS claimed by Class Members, the duration of the CMIS coverage will be reduced to exhaust the fund. In such an event, no Net Settlement Funds will be distributed to Claimants for Approved Claims for Documented Loss Payments or for Cash Fund Payments. In the event that the aggregate amount of all Documented Loss Payments and payments for the CMIS exceeds the total amount of the Net Settlement Fund, then no payments for Lost Time Claims will be made, and the value of the Documented Loss Payment to be paid to each Class Member shall be reduced, on a pro rata basis, such that the aggregate value of all Documented Loss Payments and payments due for CMIS does not exceed the Net Settlement Fund. In such an event, no Net Settlement Funds will be distributed to Claimants with Approved Claims for Cash Fund Payments. All such determinations shall be performed by the Settlement Administrator.
Distribution of Settlement Payments. Plaintiffs are going to create one or more qualified settlement fund (“QSF”) accounts within the meaning of Treas. Reg. § 1.468B-1, in a form agreed to by parties, following the entry of an Order of the Court creating them. The QSFs will be established at a bank of Plaintiffs’ Counsels’ choosing, and the parties agree that Biomet’s transfer of funds to a QSF does not constitute constructive receipt of a settlement amount by Plaintiffs’ Counsel or Plaintiffs. The Parties also agree that Biomet transfer of funds to the QSF does not constitute a commitment or promise by Biomet to authorize the disbursement of such funds to Plaintiffs’ Counsel or Plaintiffs, prior to satisfying the conditions described in Paragraphs 11 and 12 of this Settlement Agreement. The parties also agree to negotiate a settlement administration agreement described in Paragraph 13 below. One of the provisions to be included in the settlement administration agreement will allow certain contested cases to be paid, with Biomet’s consent, which will not be unreasonably withheld, before the qualifying percentage for mediated cases, as set forth in Paragraph 5 of this Settlement Agreement, is met.
Distribution of Settlement Payments. The Settlement Administrator shall, within fourteen (14) days of receiving payment for the initial damages amount from Defendant, send checks or other cash-equivalent form of payment to each Class Member who submitted a Valid Claim (Settlement Class Member). If after three (3) months a check remains uncashed and money remains of the amount Defendant paid to the Settlement Administrator, the remainder shall be donated to [an agreed-upon charity serving the Normandy area].
Distribution of Settlement Payments. The Settlement is designed to exhaust the Settlement Fund. The Settlement Fund shall be used to make payments for the following: (i) Administrative Expenses, (ii) Fee Award and Costs, (iii) Service Award, and (iv) taxes. The remaining amount is the Net Settlement Fund. The Settlement Administrator will first apply the Net Settlement Fund to pay for CMIS claimed by Class Members. If Net Settlement Funds remain after paying for the CMIS, the Settlement Administrator will next use it to pay valid claims for Out-of- Pocket Losses. The amount of the Net Settlement Fund remaining after all Out-of- Pocket Losses are applied and the payments for the CMIS are made shall be referred to as the “Post CM/DL Net Settlement Fund.” The Settlement Administrator shall then utilize the Post CM/DL Net Settlement Fund to make all Cash Fund Payments and California Resident Premium Payments pursuant to Section 3.3(f-h) herein. In the event the Net Settlement Fund is insufficient to cover the payment for the CMIS claimed by Class Members, the duration of the CMIS coverage will be reduced to exhaust the fund. In such an event, no Net Settlement Funds will be distributed to Claimants for approved claims for Out-of-Pocket Losses, Cash Fund Payments, or California Resident Premium Payments. In the event that the aggregate amount of all Out-of-Pocket Losses and payments for the CMIS exceeds the total amount of the Net Settlement Fund, then the value of the Out-of-Pocket Losses to be paid to each Class Member shall be reduced, on a pro rata basis, such that the aggregate value of all Out-of-Pocket Losses and payments due for CMIS does not exceed the Net Settlement Fund. In such an event, no Net Settlement Funds will be distributed to Claimants with approved claims for Cash Fund Payments or California Resident Premium Payments. All such determinations shall be performed by the Settlement Administrator.
Distribution of Settlement Payments. The settlement payments provided for in paragraphs 9.2.1 and 9.2.3 shall be distributed to Class Members no later than ninety (90) days after the Effective Date. CardConnect, Class Counsel, and the Settlement Administrator shall work cooperatively to ensure that payments are accurately calculated and timely distributed.
Distribution of Settlement Payments. Within thirty (30) days of the Settlement Effective Date, the Settlement Administrator will issue checks for the Settlement Payments of $200.00 to the Named Plaintiffs and the FCRA Class Members. Within ninety (90) days after the Settlement Administrator issued the Participating NYC Class Members who qualified for an Enhanced Payment Form W-9s, or within fourteen (14) days after which every Participating NYC Class Member who qualified for an Enhanced Payment has submitted a Form W-9 to the Settlement Administrator, whichever is earlier, the Settlement Administrator will issue checks for the Settlement Payments to the Participating NYC Class Members who qualified for an Enhanced Payment and timely submitted the required Form W-9
Distribution of Settlement Payments. When and if the Court enters the Final Order and Judgment approving the Settlement, and the Effective Date has passed, the Settlement Administrator shall prepare a final list of all Qualified Claimants and of the Named Plaintiffs. The Settlement Administrator shall provide this list to Pepperidge Farm within 5 days after the Effective Date. For each Qualified Claimant and Named Plaintiff on this list, the Settlement Administrator will calculate the amounts due to the Qualified Claimant or Named Plaintiff and issue checks payable to him/her/it. All settlement payments to Named Plaintiffs and Qualified Claimants shall be reported on an IRS 1099 without withholdings. Named Plaintiffs and Qualified Claimants must pay their own portion of taxes on the settlement payments. Named Plaintiffs and Qualified Claimants shall be exclusively liable for any and all tax liability, and will indemnify Pepperidge Farm for any and all claims, damages, costs, and expenses (including reasonable attorneys ‘fees) arising from their failure to pay any and all taxes they owe as a result of the settlement payments they receive. The Service Enhancements to the Named Plaintiffs shall be reported on an IRS 1099 without withholdings. Named Plaintiffs must pay their own portion of taxes on the Service Enhancements. Section 22 of the Agreement is amended to read:
Distribution of Settlement Payments. After receiving approval from Class Counsel and counsel for NCG, or an order from the Court, but no earlier than the Effective Date, the Settlement Administrator shall mail Settlement Payments to eligible Settlement Class Members using the addresses in the Settlement Administrator’s mailing list, as updated after providing the New Class Notice, or using the addresses provided on Claim Forms. Settlement Payments shall contain or be accompanied by a notice advising that they must be negotiated within 90 days of the check issue date. On the 120th day following mailing of all Settlement Payments (or the next business day thereafter), the Settlement Administrator shall stop payment on all Settlement Payments that have not been negotiated according to the Settlement Administrator’s bank.
Distribution of Settlement Payments. 19 a. The Settlement Administrator will first apply the Net Settlement 20 Fund to pay for Credit Monitoring and Insurance Services claimed by Participating Settlement
Distribution of Settlement Payments. Settlement Payments shall be distributed by mailed check, drawn from the Settlement Fund Escrow Account. Within forty-five (45) days after the Effective Date, the Settlement Administrator shall mail the checks, in the amounts identified on the Settlement Payment List. The checks shall be mailed to the last known mailing addresses listed in the Updated Settlement Class Member List (where applicable) and the Settlement Class Member List, as updated by the Settlement Administrator through the Postcard Notice mailing process (as applicable) and the U.S. Postal Service National Change of Address Database. Settlement Payment checks shall be valid for 180 days. For Settlement Payment checks that are returned undeliverable with forwarding address information, the Settlement Administrator shall re- send the check to the new address indicated. For Settlement Payment checks that are returned undeliverable without forwarding address information, the Settlement Administrator shall perform a standard skip trace, in the manner that the Settlement Administrator customarily performs skip traces, to try to identify an updated address and will re-send the check if updated address information is identified.
