Settlement Consideration Clause Samples
The Settlement Consideration clause defines the specific payment, benefit, or compensation that one party agrees to provide to another as part of resolving a dispute or claim. In practice, this clause outlines the amount, form (such as cash, stock, or other assets), and timing of the settlement, and may also address any conditions that must be met before the consideration is delivered. Its core function is to ensure both parties have a clear understanding of what is being exchanged to settle the matter, thereby preventing future disagreements over the terms of the resolution.
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Settlement Consideration. In consideration of the full settlement, satisfaction, compromise and release of the Released Plaintiffs’ Claims, an aggregate $115 million in cash (the “Escrow Amount”) shall be paid on behalf of the Settling Defendants to Freeport by the D&O Carriers. The Settling Defendants shall cause the Escrow Amount to be deposited by the D&O Carriers into an interest-bearing escrow account controlled by an agreed upon representative of Plaintiffs and of the Settling Defendants (the “Escrow Account”) within fifteen (15) business days after the Stipulation is submitted to the Court. Upon the Effective Date, the Escrow Amount, together with any and all interest thereon, shall be paid to Freeport from the Escrow Account. For the avoidance of doubt, the Settling Defendants shall have no obligation to deposit any portion of the Escrow Amount into the Escrow Account but shall have an obligation to take all reasonably available steps to seek to cause the D&O Carriers to deposit the Escrow Amount into the Escrow Account.
Settlement Consideration. 77. When submitting a Claim for a Cash Payment, Settlement Class Members must choose either Cash Payment A or Cash Payment B. Additionally, Settlement Class Members may elect to receive Credit Monitoring. If a Settlement Class Member does not submit a Valid Claim or opt-out, the Settlement Class Member will release his or her claims against Defendants without receiving a Settlement Class Member Benefit.
Settlement Consideration. In consideration for the Settlement, entry of judgment, and dismissal, and for the release provided herein, FCA US agrees to provide the following consideration to the Class:
Settlement Consideration. 62. In exchange for the mutual promises and covenants in this Agreement, including, without limitation, the Releases as set forth in Section XII hereof and the dismissal of the Action upon Final Approval, Defendant shall, without admission of liability, pay the total amount of Ten Million Five Hundred Thousand Dollars ($10,500,000.00) as the monetary component of the Settlement as set forth in Sections IX and X hereof and subject to the termination provisions in Section XIV. This Settlement Payment Amount includes all monetary disbursements incurred in connection with the Settlement, including but not limited to (a) all monetary payments to the Settlement Classes; (b) all Administrative Costs; (c) all attorneys’ fees, costs, and expenses awarded by the Court to Class Counsel; and (d) all Service Awards awarded by the Court to Plaintiffs. For avoidance of doubt, Defendant shall not be required to pay any additional monetary sums in settlement of the Action, nor shall it be required to bear any other fees, costs, charges, or expenses in connection with the Settlement (exclusive of the costs of CAFA notice and implementation of account credits as provided in Section X of this Agreement). Defendant also shall not be required to take any action or refrain from taking any action as a result of this Settlement except to fulfill its obligations to implement the terms of this Agreement as specifically provided herein.
63. In addition to the Settlement Payment Amount described in the preceding paragraph, and subject to the occurrence of the Effective Date, Defendant shall provide Five Million Dollars ($5,000,000.00) in the form of reductions to the outstanding balances of Participating Settlement Class Members whose Accounts were closed with amounts owed to Defendant. This Overdraft Forgiveness Amount shall serve to reduce the amounts that Participating Settlement Class Members owe to Defendant for Overdraft Fees, NSF Fees, and overdrafts Defendant paid but for which Defendant was not reimbursed.
64. Defendant has discontinued assessing Overdraft Fees for debit card transactions that were authorized at a time when the account's Available Balance was positive. Defendant agrees to work with Plaintiffs' counsel in good faith to estimate the annual fee impact of this practice change for business checking accounts.
65. Defendant intends to discontinue charging NSF Fees (overdraft-return fees) for business checking accounts. Defendant agrees to work with Plaintiffs’ couns...
Settlement Consideration. In consideration for the full and complete Release of all Released Claims against all Released Parties, and the dismissal of the Action with prejudice, Defendant agrees to provide the following consideration to the Settlement Class:
Settlement Consideration. In consideration for the foregoing releases, the Parties agree to the following:
Settlement Consideration. In consideration for the Release provided for herein and the dismissal of the Litigation with prejudice, under the terms of this Settlement Agreement, Defendant agrees to provide consideration to the Settlement Class Members as follows.
Settlement Consideration. Virpax will pay Sorrento and Scilex a total of $6 million. Virpax will pay that amount as follows: No later than two business days after the Effective Date, Virpax will wire $3.5 million to Scilex (the “Initial Payment”). By or on July 1, 2024, Virpax will wire the remaining $2.5 million to Scilex.
Settlement Consideration. In consideration for the settlement, entry of judgment, and dismissal, and for the mutual release provided herein, Defendants agree to provide the following consideration to the Class:
Settlement Consideration. 2.1 The Defendants shall pay the Settlement Amount into Charney’s trust account no less than thirty (30) days before the Approval Hearing.
2.2 The Defendants will not be required to pay more than the Settlement Amount, all in, under this Agreement and the Settlement Amount is the sole monetary payment that the Defendants will make under this Agreement.
2.3 Within ten (10) days after the Approval Order becomes final, Charney’s shall transfer to the Claims Administrator the Net Settlement Fund.
2.4 The Settlement Amount shall be the sole source of monetary funds under this Agreement.
2.5 The Settlement Amount shall not be released from Charney’s trust account until the Approval Order becomes final.
2.6 The Claims Administrator, subject to supervision and direction of the court, shall administer and/or oversee distribution of the Settlement Trust pursuant to this Agreement and the Approval Order.
2.7 The Claims Administrator is responsible for communicating with the Class Members regarding the distribution of the Settlement Trust.
2.8 All funds held in Charney’s trust account shall be deemed to be in the custody of the court until such time as the funds are distributed pursuant to Approval Order or further order of the court.
2.9 Each Class Member shall be solely responsible for the tax consequences, if any, to him, her, or it of the receipt of funds from the Approval Order.
2.10 Defendants and their counsel shall not have any responsibility for or liability whatsoever with respect to: (i) any act, omission, or determination of Class Counsel, the Claims Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; (ii) the management, investment, or distribution of the Settlement Amount; (iii) the formulation, design, or terms of the disbursement of the Settlement Amount; (iv) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount; (v) any losses suffered by, or fluctuations in the value of the Settlement Amount; or (vi) the payment or withholding of any taxes and tax-related expenses incurred in connection with the taxation of the Settlement Amount or the filing of any returns. Defendants also shall have no obligation to communicate with Class Members other than set out in this Agreement.
2.11 The Plaintiffs and Class Counsel shall not have any liability whatsoever with respect to: (i) any act, omission or determination of the Claims...