Settlement Amount Reduction for TPP Opt-Outs Sample Clauses

Settlement Amount Reduction for TPP Opt-Outs. As set forth in Section 12.2 of the Settlement Agreement, in the event there are any Class Members or Subclass A Members who file a valid request to be excluded from the Class or Subclass A (“TPP Opt-Out”) Defendants shall have the right to terminate the Settlement Agreement if the percentage of Neurontin purchases represented by TPP Opt-Outs exceeds a percentage agreed upon by the parties of the total of all purchases of Neurontin by the third party payor class of trade during the same time period (the “Opt-Out Termination Percentage” or “OTP”). The OTP is specified in a side letter of even date with the Settlement Agreement. Also as specified in Section 12.2 of the Settlement Agreement, Defendants may alternatively elect to reduce the Settlement Amount by a percentage derived by dividing the amount of each TPP Opt- Out’s documented purchases of Neurontin from January 1, 1994 through October 31, 2004 by the total of all purchases of Neurontin by all entities falling within the definition of the Class, including TPP Opt-Outs, during the same time period (the “Pfizer Opt-Out Reduction”). If TPP Opt-Outs do not exceed the OTP, Pfizer shall not have the right to terminate the Settlement Agreement, but the Settlement Amount shall be reduced by the Pfizer Opt-Out Reduction. Procedures for calculation of the Pfizer Opt-Out Reduction are set forth below. Until the Effective Date, Defendants shall notify Class Counsel of any settlement discussions between Defendants and a TPP Opt-Out (or group of TPP Opt-Outs) related to claims consistent with those brought in any of the MDL Class Complaints prior to undertaking any such settlement discussions. The notice referred to in the preceding sentence shall be deemed confidential and shall be used by Class Counsel solely for the purpose of seeking an award of attorneys’ fees from the settling Opt-Out (or group of Opt-Outs) and/or their respective counsel. Class Counsel agrees that it will not seek any fee from Defendants in connection with Opt-Out claims or settlement.
Sample 1
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Related to Settlement Amount Reduction for TPP Opt-Outs

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Average Log Length and Payment Reduction If the average log length for all logs delivered under this contract is less than the average log length specified in the table in clause G-024.2, The amount of allowable payment reduction shall be calculated by multiplying the payment rate in P-028.2 by the total volume delivered, and the difference between the average length of logs delivered and the average log length specified in G-024.2, times 1% as follows: Log Length Payment Reduction = (B x V x L) x (.01) 1/10th) Where: B = Bid rate from P-028.2 clause V = total delivered log Volume L = Length in feet below specified average (rounded to nearest Average log length payment reductions calculated by the Purchaser must be approved by the State, prior to payment for the final billing period. Third-party scaling organization information is required to determine Xxxxxxxx mbf and Average log length for payment reduction purposes. Average log length is determined on a piece count basis. Value of log length price reduction will be derived from the applicable sort value as described in this contract. Scale information for determining Average log length for payment reduction eligibility must be obtained from roll-out scale. Truck-ramp, sample scaling, and/or bundle scaling information is not acceptable for determining eligibility. Purchaser’s exclusive remedy for below average log lengths shall be the payment reduction described in this clause, notwithstanding other provisions in the Uniform Commercial Code.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Gross Settlement Amount Except as otherwise provided by Section 9 below, Defendant promises to pay $450,000.00 and no more as the Gross Settlement Amount, and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Section 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or PAGA Group Members to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Settlement Averaging Period For any Option and regardless of the Settlement Method applicable to such Option:

  • Settlement Method Election Date The third Scheduled Trading Day immediately preceding the First Expiration Date.

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Agreement Amount The Grantee acknowledges and agrees that, notwithstanding any other provision of this Agreement, the maximum amount payable by the City under this Agreement for the initial ## month term shall not exceed the amount approved by City Council, which is $ (dollar amount), and $ (dollar amount) per ## month extension option, for a total Agreement amount of $ . Continuation of the Agreement beyond the initial ## months is specifically contingent upon the availability and allocation of funding, and authorization by City Council.

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