Distribution Of Settlement Payments, Counsel Fees, Counsel Costs, And Service Payments Sample Clauses

Distribution Of Settlement Payments, Counsel Fees, Counsel Costs, And Service Payments. Twenty (20) calendar days after the Final Effective Date, Defendants shall remit the Gross Settlement Sum to the Settlement Administrator for distribution. Within thirty (30) calendar days of this payment by Defendants, the Settlement Administrator shall mail Settlement Checks to Settlement Class Members, and distribute Counsel Fees, Counsel Costs, and the Service Payments. Settlement Class Members shall have ninety (90) calendar days from the date of mailing to cash or deposit their Settlement Checks (the “Initial Check Cashing Period”). The Settlement Administrator shall notify the Parties in writing of the date the Settlement Checks shall be sent at least two business days before transmission. Settlement Checks not cashed within ninety (90) calendar days will be void. Any amounts attributable to void and uncashed Settlement Checks from the Initial Check Cashing Period shall be redistributed to Settlement Class Members who have already cashed or deposited their Settlement Checks, based on their pro rata share of the NSS. The Settlement Administrator shall notify the Parties in writing of the date the additional Settlement Checks shall be sent at least two business days before transmission. Those Settlement Class Members will then have an additional sixty (60) calendar days (the “Additional Check Cashing Period”) to cash or deposit the additional Settlement Checks. Additional Settlement Checks not cashed within the Additional Check Cashing Period will be void, and any amounts attributable to those Settlement Checks shall revert to Defendants, and shall be returned to Defendants within fifteen (15) calendar days following the end of the Additional Check Cashing Period. Settlement Class Members who do not redeem their Settlement Checks shall remain bound by this Settlement. The provisions of any unclaimed property statute or law do not apply to this Action or this Agreement. Defendants shall not be obligated to make any payments contemplated by this Agreement prior to the Final Effective Date, and no amounts will be owed or payable until all appeals or other collateral attacks have lapsed or have been favorably resolved in favor of the Settlement and no further challenge to the Settlement is possible.