Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
Plan of Allocation. 2 Each Settlement Payment will be comprised of (1) a Base Payment Amount, (2) plus a 3 Supplemental Payment Amount, (3) minus the Settlement Class Member’s share of any Fee 4 Award, incentive awards to the Class Representatives, and Settlement Administration Expenses.
Plan of Allocation. The distribution of the Net Settlement Fund to the Settlement Class members shall be made in accordance with the Plan of Allocation to be proposed by Class Counsel and approved by the Court.
Plan of Allocation. Neither Defendants nor their counsel have any responsibility for the Plan of Allocation or any application for attorneys’ fees or expenses submitted by Class Counsel or Class Representatives, and these matters shall be considered separately from the fairness, reasonableness and adequacy of the Settlement.
Plan of Allocation. 1.1 Each capitalized term below has the definition provided in the Settlement Agreement.
Plan of Allocation. 5.1. Class Counsel shall prepare and submit a Plan of Allocation to the Court for approval in connection with a motion for preliminary approval of the Settlement, which Plan of Allocation shall propose the allocation of distributions from the Settlement Fund among Class Members, Class Representatives, Class Counsel, and any other person to receive a distribution from the Settlement Fund.
Plan of Allocation. A. Establishing the Plan of Allocation
Plan of Allocation. The term “Plan of Allocation” shall mean the plan or formula of allocation of the Settlement Fund as approved by the Court. Notwithstanding any other provision of this Agreement, any revision of the Plan of Allocation by Class Counsel, the Court, or any appellate court shall not operate to terminate or cancel or otherwise affect this Agreement.
Plan of Allocation. All payments of Settlement compensation to Settlement Class Members shall be made from the Settlement Fund after all costs of Settlement administration (including, but not limited to, costs related to the Phase I Notice and Phase II Notice, the fees and expenses of the Settlement Administrator as approved by the Court, and the Fee and Disbursements Award as approved by the Court), are deducted from the Settlement Fund. If the total of the timely, valid and approved Claims submitted exceeds the available relief, minus any covered costs and expenses, each Settlement Class Member’s award shall be reduced on a pro rata basis. If the total of the timely, valid and approved Claims is less than the available relief, minus any covered costs and expenses, each Settlement Class Member’s award shall be pro rata increased to no more than two- times the value of the timely, valid and approved Claim absent any further written agreement by the Parties. After such distribution(s), the Settlement Administrator shall pay the Unpaid Funds, if any, to the Cy Pres Recipient.
Plan of Allocation. The Net Settlement Amount shall be allocated between two funds: (1) a “True Up Fund” and (2) an “Elevated Xxxx Fund.” The True Up Fund shall be made available to compensate Settlement Class Members who received at least one estimated xxxx followed by a xxxx based on actual consumption and who timely submit a valid claim form. The Elevated Xxxx Fund shall be made available to compensate those Settlement Class Members who are identified by Plaintiff’s expert as having received a xxxx in which the average kilowatt hours per day was at least 400% more than the average daily kilowatt usage for a comparable billing period and who timely submit a valid claim form. Settlement Class Members eligible for the Elevated Xxxx Fund shall be excluded from receiving any funds from the True Up Fund. Allocation of the Net Settlement Amount between the True Up Fund and the Elevated Xxxx Fund shall be as follows: 25% shall be allocated to the True Up Fund, and 75% shall be allocated to the Elevated Xxxx Fund. After the Notice Date, the Settlement Administrator shall provide a weekly report to Class Counsel and to Seattle City Light’s Counsel, setting forth the number of valid Claim Forms for the True Up Fund and the Elevated Xxxx Fund that were submitted each week. Within seven (7) days of the Objection/Opt-Out Deadline, the Settlement Administrator shall provide Class Counsel and Seattle City Light’s Counsel a Final Report certifying jointly to both parties which Claim Forms were valid and timely submitted. Following the close of the claims process, each fund shall be distributed to each claimant as follows: • The True Up Fund shall be distributed in equal amounts to each class member who submits a valid claim. • The Elevated Xxxx Fund shall be distributed pro rata based on the amount of damages calculated by Plaintiff’s expert for each member (i.e., the percentage of damages each member) and as determined by the number of valid claims submitted. A distribution to a class member may be up to (but not exceeding) the total amount of damages calculated by Plaintiff’s expert for such class member. Within thirty (30) days of the Settlement Administrator’s Final Report, Class Counsel shall provide Seattle City Light’s Counsel and the Settlement Administrator an excel spreadsheet that lists, for each Settlement Class Member who submitted a valid Claim Form: (i) the name; (ii) the Seattle City Light account number, and (iii) the calculated amount to be awarded from the True Up Fund a...
