Settlement Monetary Consideration Sample Clauses
The Settlement Monetary Consideration clause defines the specific amount of money that one party agrees to pay to another as part of resolving a dispute or claim. Typically, this clause outlines the payment terms, such as the total sum, payment schedule, and any conditions that must be met before payment is made. Its core practical function is to ensure both parties have a clear, enforceable understanding of the financial terms of the settlement, thereby preventing future disagreements over payment obligations.
Settlement Monetary Consideration. Settlement Consideration under this Agreement includes the following:
3.2.1 Within thirty days after the Court’s entry of the Preliminary Approval Order, ▇▇▇▇ will initially fund the Settlement Fund by depositing into an escrow account with the Settlement Administrator the sum of Seventy-Five Thousand Dollars ($75,000) to cover the initial costs and expenses for implementing the terms of the Settlement set forth herein. The Parties agree to make reasonable efforts to direct the Settlement Fund to a financial institution with branches in Pennsylvania that agrees to waive check cashing fees. Any balance of this initial funding remaining shall revert to BANA in the event that the Settlement is not approved. In no other event, except upon termination of this Settlement pursuant to Section 13, shall there be a reverter.
3.2.2 Within twenty-one days of the Effective Date, ▇▇▇▇ will fund the remainder of the Settlement Fund by depositing the sum of Three Million One Hundred Seventy-Five Thousand Dollars ($3,175,000) into the escrow account with the Settlement Administrator. The Parties and Settlement Administrator agree to provide any information or documentation necessary for BANA to complete the funding.
3.2.3 The Settlement Administrator’s costs associated with disseminating the Class Notice, the Settlement Website, distributing checks or electronic payments to Settlement Class Members, and any escrow, administrative and/or bank related fees and costs associated with the Settlement Administrator’s distribution of payments as well as the service awards to the Class Representatives, Attorney’s Fees and Expenses awarded by the Court, shall be paid out of the Settlement Fund.
3.2.4 After deducting the Court-approved service awards to the Class Representatives, as set forth in Paragraph 5.2, any Settlement Administrator costs, and the Attorney’s Fees and Expenses from the Settlement Fund, Settlement Class Members shall be paid from the Net Fund in an amount equal to the pro rata share of the Net Fund, which is to be calculated as a proportional share according to the statutory damages under UCC Article 9 per Account included in the Settlement Class (unless there are co-borrowers, in which case the pro rata share payable on that Account will be divided equally among borrowers and co-borrowers with separate payments issued to each). This proportional share per Account is to be calculated using a numerator consisting of 10% of the “Amount Financed” on the RISC plus th...
Settlement Monetary Consideration. 3.3.1 Within twenty-one (21) days after the Court’s entry of the Preliminary Approval Order, ▇▇▇▇▇ Fargo will initially fund the Settlement Fund by depositing into an escrow account, the terms of which shall be subject to ▇▇▇▇▇ Fargo’s approval, with the Settlement Administrator the sum of Four Hundred Fifty Thousand Dollars ($450,000.00) to cover initial costs and expenses for implementing the terms of the Settlement set forth herein. Any balance of this initial funding remaining following the implementation of the terms of the Settlement and payment of the Settlement Administrator shall revert to ▇▇▇▇▇ Fargo.
3.3.2 Within eighty (80) days of the Effective Date, ▇▇▇▇▇ Fargo will fund the California Settlement Fund by depositing into the escrow account the remaining Settlement Fund balance, to be calculated as follows: For California Class Members who submit one or more Verified Claims and become a Verified Claimant, ▇▇▇▇▇ Fargo shall contribute to the Settlement Fund as follows: • First 2,000 Verified Claims from the California Class shall add $2,500 per claim to the fund up to $5,000,000. • Next 3,000 Verified Claims from the California Class shall add $2,000 per claim to the fund up to $6,000,000. • Next 2,000 Verified Claims from the California Class shall add $800 per claim to the fund up to $1,600,000.
3.3.3 Members of the California Class who submit one or more Verified Claims shall be paid pro rata from the California Settlement Fund for each Verified Claim.
3.3.4 The California Settlement Fund shall have a total floor of $4,700,000 and a total cap of $12,600,000. Under no circumstances shall ▇▇▇▇▇ Fargo’s total financial obligation to fund the California Settlement Fund exceed $12,600,000.
3.3.5 Within eighty (80) days of the Effective Date, ▇▇▇▇▇ Fargo will fund the National Settlement Fund by depositing into the escrow account the remaining Settlement Fund balance, to be calculated as follows: For those National Class Members who submit one or more Verified Claims and become a Verified Claimant, ▇▇▇▇▇ Fargo shall create a National Settlement Fund as follows: • Every Verified Claim from the National Class shall add $100 to the fund up to a maximum of $500,000.
3.3.6 National Class Members who submit one or more Verified Claims shall be paid pro rata from the National Settlement Fund for each Verified Claim.
3.3.7 The National Settlement Fund shall have a total floor of $50,000 and a total cap of $500,000. Under no circumstances shall ▇▇▇▇▇ Fargo’...
Settlement Monetary Consideration. 3.2.1 Within twenty (20) days after the Court’s entry of the Preliminary Approval Order, BANA will fund the Settlement Fund by depositing the sum of One Million Nine Hundred Seventy Five Thousand Dollars ($1,975,000) into an escrow account with the Settlement Administrator, the terms of which shall be subject to BANA’s approval.
3.2.2 The Settlement Administrator’s costs associated with disseminating the Class Notice, the Settlement Website, distributing checks to Settlement Class Members, and any escrow, administrative fees and costs associated with the Settlement Administrator’s distribution of payments after the Settlement Administrator provides the information set forth in section 6.4 shall be paid out of the Settlement Fund.
3.2.3 After deducting the Court-approved Service Payment to the Class Representative, Court-approved Attorneys’ Fees and Expenses, and administrative costs from the Settlement Fund, Settlement Class Members shall be paid from the Settlement Fund in an amount equal to the Settlement Class Member’s proportionate share of the Settlement Fund, relative to the total dollar amount of Transaction Fees paid by the Settlement Class Member. If an account lists more than one person as a customer, debtor, or guarantor, the check will be made payable to the person listed in BANA’s records as the primary account holder.
3.2.4 BANA represents that, to the best of its knowledge based on researching customer accounts, the total dollar amount of Transaction Fees paid by Settlement Class Members is approximately $5,129,630.12.
3.2.5 Under no circumstances shall ▇▇▇▇’s total payment obligation under the Agreement exceed $1,975,000, which is inclusive of all payments to the Settlement Class, for costs of notice and administration, for Attorney’s Fees and Expenses; and for service payments to the Class Representatives, as approved by the Court.
3.2.6 Nothing in section 3.2 is an admission either about BANA’s current or past practices, or an admission that the terms are mandated by law or other requirement.
3.2.7 The relief set forth in this section shall not operate as an injunction or otherwise provide any Class Member or governmental official or agency, or any other person or entity with any right or power to seek direct enforcement of its terms.
Settlement Monetary Consideration. 3.2.1 M&T shall pay the total amount of $3,325,000 in relief, which shall comprise the Settlement Fund.
3.2.2 The Settlement Administrator will distribute the Settlement Fund as set forth in Section 5.
3.2.3 All costs, expenses, fees, relief, and/or any payments of any kind in connection with or associated with this Settlement shall be paid from the Settlement Fund, including, but not limited to, all (a) payments to Settlement Class Members (b) Notice and Administrative Costs,
Settlement Monetary Consideration. Those Settlement Class Members who 5 submit a timely, valid, and verified Claim Form, substantially in the form of Exhibit A, by the 6 Claim Deadline in the manner required by this Agreement, shall receive Claim Settlement 7 Relief under the following terms and conditions.
8 4.2.1. Overview. Settlement Class Members will be eligible for relief if they 9 fall within Settlement Class. As reflected in the Claim Form (Exhibit A), Claimants making 10 Claims must execute the Claim Form representing and affirming that they qualify for relief as a 11 Settlement Class Member.
Settlement Monetary Consideration. 4.3.1. Defendant will fund a non-reversionary common Settlement Fund of $1,700,000, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and any Incentive Award will be deducted. The Settlement Fund represents the limit and total extent of Defendant’ monetary obligations under this Agreement and the Settlement. In no event shall Defendant’ total financial liability with respect to this Agreement and the Settlement exceed $1,700,000.
4.3.2. Defendant will fund the Settlement Fund as follows: (a) within five (5) Days following entry of the Preliminary Approval Order, Defendant will transfer any authorized up-front Notice and Administrative costs to the Settlement Administrator (via wire instructions provided by the Settlement Administrator to Defendant and/or their respective insurers). The Settlement Administrator will hold those amounts until such time as the Settlement Administrator is authorized to use or pay those funds; (b) within five (5) Days following entry of the Final Approval Order, Defendant will transfer the remainder of the Settlement Fund minus the up-front Notice and Administrative costs in subsection (a) above to the Settlement Administrator.
4.3.3. The Court shall retain continuing jurisdiction over the Settlement Fund sufficient to satisfy the requirements of 26 C.F.R. § 1.468B-1. The Settlement Administrator shall at all times seek to have the Settlement Fund treated as a “qualified settlement fund” as that term is defined in 26 C.F.R. § 1.468B-1. The Settlement Administrator shall cause any taxes imposed on the earnings of the Settlement Fund, if any, to be paid out of such earnings and shall comply with all tax reporting and withholding requirements imposed on the Settlement Fund under applicable tax laws. The Settlement Administrator shall be the “administrator” of the Settlement Fund pursuant to 26 C.F.R. § 1.468B-2(k)(3).
4.3.4. All payments issued to Class Members via check will state on the face of the check that the check will expire and become null and void unless cashed within one hundred and eighty (180) Days after the date of issuance.
4.3.5. No amount of the Settlement Fund shall revert in any way to Tribune. If, after payments to Class Members have been made and the deadline for cashing those checks has passed, funds remain in the Settlement Fund sufficient to make it administratively feasible to make a further payment to Class Members, then a further distribution shall be made to Cl...
Settlement Monetary Consideration. RoundPoint Settlement Class Members who submit by the Claim Deadline a timely and valid Claim Form, substantially similar in form and content to Exhibit C and in the manner required by this Settlement Agreement, and making the required affirmations and representations as set forth in Section 7.1 below, shall receive a cash payment or credit (“Claim Settlement Relief”), in the manner set forth in Sections 7.4.3 and 7.4.4, under the following terms and conditions.
Settlement Monetary Consideration. Those Settlement Class Members who submit a timely, valid, and verified Claim Form, substantially in the form of Exhibit B, by the Claim Deadline in the manner required by this Settlement Agreement, shall receive Claim Settlement Relief under the following terms and conditions.
Settlement Monetary Consideration. 3.2.1 Rushmore shall pay the total amount of $1,645,840 in relief, which shall comprise the Settlement Fund.
3.2.2 The Settlement Administrator will distribute the Settlement Fund as set forth in Section 5.
3.2.3 All costs, expenses, fees, relief, and/or any payments of any kind in connection with or associated with this Settlement shall be paid from the Settlement Fund, including, but not limited to, all (a) payments to Settlement Class Members, (b) Notice and Administrative Costs, (c) any Service Award to Plaintiff, and (d) any award of Attorneys’ Fees and Expenses.
3.2.4 The Settlement Fund is the maximum amount that Rushmore will have to pay under this Settlement. No portion of the Settlement Fund shall revert to Rushmore at any time.
Settlement Monetary Consideration. 3.3.1 Within thirty (30) days of the Effective Date, CBUSA will fund the Settlement Fund by depositing into an escrow account, the terms of which shall be subject to CBUSA’s approval, the sum of $11,500,000.00 (11.5 million U.S. dollars). There shall be no reverter of any part of the Settlement Fund, unless otherwise agreed to by Class Counsel with respect to de minimis funds, if any, remaining after distributions are completed. Except as set forth in the paragraph below, the Settlement Fund shall be used to pay the CBUSA Post- Discharge Payors and Participating Claimants.
3.3.2 CBUSA shall pay the Settlement Administrator’s costs associated with disseminating the Class Notice, Claims processing, and any escrow, administrative, and/or bank- related fees and costs associated with the Settlement Administrator’s distribution of payments to Participating Claimants.