Common use of Settlement Class Representatives Clause in Contracts

Settlement Class Representatives. on behalf of the Settlement Class and the Plan, agree to settle and fully resolve the Claims asserted in the ERISA Action against the Settling Defendants for the Settlement Amount. 3.1 In consideration of all the promises and agreements set forth in this Settlement Agreement, the Underwriters and the Company have caused the Settlement Amount to be deposited into the Settlement Fund. Interest earned on the Settlement Amount shall be applied to the expenses of settlement administration, if any, or otherwise shall accrue for the benefit of the Settlement Class. The Settlement Fund shall be invested only in United States Treasury securities, and/or securities issued by government entities backed by the full faith and credit of the United States Treasury, and/or securities of United States Government Sponsored Enterprises that carry a rating of Aaa, and money market mutual funds that invest exclusively in the foregoing securities. 3.2 The Settlement Fund shall be structured and managed to qualify as a Qualified Settlement Fund under Section 468B of the Internal Revenue Code and Treasury regulations promulgated thereunder and shall make tax filings and provide reports to Lead Counsel for tax purposes. The Settling Parties shall not take a position in any filing or before any tax authority inconsistent with such treatment. 3.3 The Settlement Amount shall be the full and sole monetary payments made by or on behalf of the Settling Defendants and the Underwriters to the Settlement Class in connection with the Settlement. Nothing herein or in the Settlement Agreement shall bar, or otherwise affect, any claims between or among the Named Settling Defendants.