Settlement Plan Clause Samples
Settlement Plan. Pursuant to Section 4.1.1, Class Counsel will develop a Class Settlement Plan for the administration of the Class Settlement Fund, the final version of which shall be filed publicly with the Approving Court pursuant to Section 9.1.1.
4.1.1 Class Counsel will present a proposed Class Settlement Plan to Defendants within 24 days after the filing of the Preliminary Approval Motion. Within 21 days of receipt of the Class Settlement Plan, Defendants shall advise of any objections or requested modifications. Defendants may file objections to the Class Settlement Plan with the Approving Court, including on the grounds that the Class Settlement Plan is inconsistent with this Class Settlement Agreement. In the event that the Approving Court requires changes to the Class Settlement Plan, the Class Parties remain bound to the Class Settlement Agreement, except that requirements that are expressly stated in this Class Settlement Agreement (except where expressly noted) may not be altered without the written consent of all signatories to this Class Settlement Agreement.
4.1.2 The following provisions must be included in the Class Settlement Plan.
(a) The Class Settlement Plan shall include a provision for a reallocation of any residual amount from the Class Settlement Fund, with such residual amount defined as the difference between the Class Settlement Amount and the Monetary Awards actually made to all Class Claimants pursuant to the plan of allocation.
(b) The Class Settlement Plan shall include a plan for determining the Monetary Award for each Class Claimant, if any, which may address the valuation of specific Class Settlement Agreement 20 categories of claims and the proof or evidentiary showing, if any, necessary for a Class Claimant to establish entitlement to a Monetary Award.
(c) The Class Settlement Plan shall include a plan for claims administration, including the distribution and timing of Monetary Awards, and including any relevant deadlines for the submission of claim forms or accompanying information, and the submission of any required forms of information for receipt of a Monetary Award. In any such plan, a failure of a Class Plaintiff, or their agent, to comply with the requirements of the Class Settlement Plan to receive a Monetary Award, or the fact that a Class Plaintiff ultimately does not receive any particular Monetary Award that was allocated to them, will not affect the validity or enforceability of the releases set forth in Section 7.1.
(d) T...
Settlement Plan. Each budget year will start at a zero balance. Settlement month will be every March, regardless of when Budget plan starts. HEC will issue a refund check if there is a credit on the account. If there is a balance on the account the customer must pay the balance in full, prior to starting the next budget year. If choosing this option, the signed form must be returned to our office no later than March 15th.
Settlement Plan. Except as provided in Section 10, for so long as the Settlement Plan is in effect pursuant to its terms, matters relating to the exercise, transfer and settlement of the Options, and any other matters governed by the Settlement Plan, shall be controlled by the Settlement Plan, a copy of which is attached hereto as Exhibit C. Participant is an express third party beneficiary of the Settlement Plan as a “Plan Beneficiary” (as each such term is defined in the Settlement Plan). For avoidance of doubt, the provisions of Sections 3(c), 4, 5, 6, 7 and 12(a) of this Option Agreement shall not be operative while the Settlement Plan is in effect pursuant to its terms.
Settlement Plan. (1) In consideration of the release of claims set out in Section 4 of this Settlement Agreement, the Settlement Class Members shall be entitled to coverage under the Settlement Plan.
(2) The Defendant shall implement the Settlement Plan on the Implementation Date.
(3) Notwithstanding any other provision of this Settlement Agreement, the Defendant may engage, and change from time to time, any insurer or administrator for the Settlement Plan.