Settlement Payment Clause Samples
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Settlement Payment. Youbet shall pay to TVG an amount equal to $725,000 (the "SETTLEMENT AMOUNT") as reimbursement for legal fees and expenses incurred by TVG in connection with the Chancery Action and the Arbitration Proceeding. The Settlement Payment shall be paid as follows:
(i) Not later than three (3) Business Days following the date of this Agreement, Youbet shall issue (or cause its transfer agent to issue) to TVG a certificate, registered in the name of TVG, evidencing 124,144 shares of Youbet Common Stock (the "INITIAL SETTLEMENT PAYMENT").
(ii) Promptly after the date of this Agreement, Youbet shall file a claim (the "D&O CLAIM"), and use its best efforts to secure recovery, under its existing Directors' and Officers' liability insurance policy, for an amount equal to 50% of the Settlement Amount (the "REMAINING SETTLEMENT AMOUNT"). All proceeds recovered by Youbet in respect of such claim prior to July 1, 2004 shall be paid to TVG in cash within five (5) days of Youbet's receipt of such proceeds and shall be credited against Youbet's payment obligation to TVG in respect of the Settlement Amount. To the extent that TVG has not received the full amount of the Remaining Settlement Amount from Youbet by July 1, 2004, Youbet shall pay to TVG an amount equal to the difference between (A) the Remaining Settlement Amount, and (B) the aggregate amount of proceeds recovered by Youbet in respect of the D&O Claim and actually paid to TVG prior to July 1, 2004 (such difference being referred herein to as the "REMAINING SETTLEMENT PAYMENT"). The Remaining Settlement Payment, if any, shall be paid by Youbet to TVG on July 2, 2004 in cash, or, at the option of Youbet, in a number of shares of Youbet Common Stock equal to the quotient obtained by dividing (x) the Remaining Settlement Payment, by (y) the average closing sale price of a share of Youbet Common Stock on the Nasdaq SmallCap Market during the twenty trading days ending on July 1,
Settlement Payment. If and only if Final Court Approval is obtained, Bank of America and/or Countrywide shall pay or cause to be paid eight billion five hundred million dollars ($8,500,000,000.00) (the “Settlement Payment”) within one-hundred and twenty (120) days of the Approval Date, in accordance with the following provisions.
Settlement Payment. Provided that you sign and return this Agreement, and it thereafter becomes effective as described below, you will receive a settlement payment equivalent to ___________________of your base salary, for a total amount of $__________________ (“Settlement Payment”). Payment shall be made in bi-weekly installments in accordance with the Company’s normal payroll schedule, less applicable federal, state, and local taxes and other authorized deductions and shall be started within 15 days of the Termination Date.
Settlement Payment a. In the event and only upon the achievement of the “Threshold” level of performance with respect to the Performance Goals as described in the table(s) set forth in Exhibit A to this Agreement during the Performance Period, which achievement must be certified in writing by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.
b. In the event this Annual Performance Award is forfeited or cancelled for any reason pursuant to Sections 3, 5, 6 or 7 of this Agreement or otherwise, no payment shall be made in settlement of this Annual Performance Award.
c. Except as provided in paragraph (d) below, in no event will Toro make payment to you later than March 15 of the calendar year following the calendar year in which the Performance Period ends.
d. Notwithstanding any of the foregoing or any other provision of this Agreement, in the event you have properly elected to defer your receipt of any payment pursuant to this Annual Performance Award under The Toro Company Deferred Compensation Plan, as such plan may be amended from time to time, or any similar successor plan, you will receive such payment in accordance with your deferral election.
e. The payment pursuant to this Annual Performance Award shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.
Settlement Payment. If the resulting net amount is positive, it shall be payable by the Defaulting Party to the Non-Defaulting Party, and if it is negative, then the absolute value of such amount shall be payable by the Non-Defaulting Party to the Defaulting Party.
Settlement Payment. Within fourteen (14) days of receipt of a copy of this Agreement executed by all Parties, the Defendant shall deliver to KCC a check, money order, or cashier’s check in the amount of [settlement amount in words] ($ ) (the “Settlement Payment”) payable to the order of “KCC, Tribune MDL Settlement Administrator.” The amount of the Settlement Payment equals the sum of (i) the Step One transfer amount times 0.1625 and (ii) the Step Two transfer amount times 0.315. Plaintiffs agree that payment to KCC in accordance with this Agreement constitutes payment to Plaintiffs, and Defendant shall have no obligation for the delivery or distribution of the Settlement Payment from KCC to Plaintiffs.
Settlement Payment. In consideration for the release of the Released Claims and the dismissal with prejudice of the Action, within fourteen business days of the Court’s grant of Preliminary Approval, ▇▇▇▇▇▇▇▇▇ Farms shall pay or cause to be paid $38,300,000 (thirty-eight million three hundred thousand U.S. dollars) into the Settlement Fund.
▇. ▇▇▇▇▇▇▇▇▇ Farms’ payment to the Escrow Agent described herein shall be by wire transfer pursuant to instructions from the Escrow Agent or Interim Co-Lead Counsel.
b. The payment described in Section II(A)(1) shall constitute the total Settlement Amount and ▇▇▇▇▇▇▇▇▇ Farms shall have no other payment obligations to the Settlement Class or owe any further amount under this Settlement Agreement of the Action, and the obligations described in Section II(A)(2) shall continue so long as this Settlement Agreement remains in effect.
Settlement Payment. If the Participant’s home country is the United States, the Company shall settle as soon as administratively possible (but not later than 30 days) after the applicable vesting date, any vested portion of the Restricted Unit Award by causing one share of Common Stock for each vested Restricted Stock Unit that is outstanding (and not previously forfeited) to be registered in the name of the Participant and held in book-entry form. If the Participant’s home country is not the United States, (x) the Company shall settle as soon as administratively possible after the applicable vesting date, any vested portion of the Restricted Unit Award by the payment to the Participant in cash (without interest) of an amount equal to the Participant’s vested portion of the Restricted Unit Award, subject to applicable Tax-Related Items (as defined in Appendix B to this Restricted Stock Unit Award Agreement) and (y) at no time shall the Participant be deemed for any purpose to be the owner of shares of Common Stock in connection with a Restricted Unit Award and the Participant shall have no right to dividends or dividend equivalent payments in respect of the Restricted Unit Award.
Settlement Payment. Only Settlement Collective/Class Members will receive money in connection with this Settlement. Once the Settlement becomes Final, the Settlement Administrator will calculate Settlement Payments for Collective/Class Members in accordance with the following steps:
1. After the Opt/Out Objection Date, the Settlement Administrator will calculate each Collective/Class Member’s final payment amount using the methodology outlined above, after removing from that calculation the apportionment made above in Section 4.6A to any Collective/ClassMember who timely opts-out of the Settlement.
2. The calculation above in Section 4.6A will also be adjusted based on the Court’s final award of Class Counsel’s attorneys’ fees and expenses, Service Awards, and costs of administration.
3. The Settlement Administrator will partition each Collective/Class Member’s Settlement Payment into two payments to the Collective/Class Member: (a) one check for 50% of the Collective/Class Member’s Settlement Payment, representing alleged lost wages, less all deductions required by law; and (b) one check for 50% of the Collective/Class Member’s Settlement Payment, representing liquidated damages. For any individual currently employed by EWSO as of the date of Final Approval, any payments shall indicate and include deductions for wage garnishments, child support payments, or tax liens, if any, as set forth in Defendant’s records (if applicable).
4. In performing the calculations for the Settlement Payments, the Settlement Administrator will use the information provided to Class Counsel by Defendant.
5. Plaintiffs, Class Counsel, Released Persons, and Defendant’s Counsel will have no responsibility for, or liability arising from, the Settlement Administrator’s calculations of the distribution of the Settlement Amount including, without limitation, the calculation of an individual Collective/Class Member’s Settlement Payment.
6. Ten (10) days before the Final Approval Hearing, the Settlement Administrator will certify jointly to Class Counsel and Defendant’s Counsel a list of all Collective/Class Members, indicating for each the total estimated Settlement Payment due to that individual pursuant to this Settlement Agreement.
7. Nothing in this Settlement Agreement shall require any adjustment to any Collective/Class Member’s accrued benefits under the Beusa Energy 401(k) Plan.
Settlement Payment. Southfield Corporation, on behalf of itself, ▇▇▇▇▇▇ and all other Releasees, shall pay or cause to be paid the Settlement Amount in settlement of the Action. The Settlement Amount shall initially be paid on the Execution Date to ▇▇▇▇▇ Fargo Bank, N.A., as escrow agent (the "Escrow Agent"), to be held in an interest-bearing escrow account in accordance with the terms and conditions of an escrow agreement in the form and substance of Exhibit "E" attached hereto (the " Escrow Account"). Within three (3) business days after the Court's entry of the Preliminary Approval Order, Class Counsel shall deliver to the Escrow Agent and Southfield Corporation a certified copy of the Preliminary Approval Order and wire transfer instructions for payment of funds to the Settlement Fund Account. Within five (5) business days after a copy of the Preliminary Approval Order is delivered to the Escrow Agent, the Escrow Agent shall remit the sum of the $19,000,000 by wire-transfer from the Escrow Account into the Settlement Fund account at the financial institution designated in the Preliminary Approval Order in accordance with instructions from Class Counsel, to be administered in accordance with the provisions of Section F of this Agreement. All interest earned on the Settlement Amount while on deposit in the Escrow Account shall be remitted to Southfield Corporation by wire transfer to an account designated by Southfield Corporation. In the event the Court declines to enter the Preliminary Approval Order, the Escrow Agent shall, within five (5) business days after receiving notification of the Court's decision not to enter the Preliminary Approval Order, remit the entire Settlement Amount, together with all interest earned thereon while held in the Escrow Account, to Southfield Corporation by wire transfer to an account designated by Southfield Corporation.