to Settlement Class Members Sample Clauses
The 'To Settlement Class Members' clause defines the rights, obligations, or benefits that are specifically provided to individuals who are part of a settlement class in a legal agreement, typically in the context of class action litigation. This clause outlines what members of the settlement class are entitled to receive, such as monetary compensation, credits, or other forms of relief, and may also describe the process for claiming these benefits. Its core practical function is to ensure that all eligible class members are clearly informed of their entitlements under the settlement, thereby promoting fairness and transparency in the distribution of settlement benefits.
to Settlement Class Members. The IPEX Funding Entities shall fund a settlement of US $125,000,000.00 to be held in escrow and trust and thereafter distributed in a manner created by Class Counsel and approved by the Courts that grant the Preliminary Approval Orders and the Final Orders and Judgments as part of the Claims Process, including payments of claims to be determined by an independent Claims Administrator to be appointed by the Courts as contemplated in paragraph 67. Consistent with the terms of this Agreement, the IPEX Funding Entities shall deposit the US $125,000,000.00 into a Settlement Fund to be held in escrow and trust, up to US $100,000,000.00 of which may be used to compensate the Settlement Classes, the cost of administration and notice, and up to US $25,000,000.00 of which may be used to pay any award of attorneys’ fees and costs, as ordered by the Courts. Accordingly, within 15 business days from entry of the last of the Preliminary Approval Orders, the IPEX Funding Entities shall pay into the settlement account established by this Agreement the sum of US $125,000,000.00.
to Settlement Class Members. The Settlement Administrator will pay Settlement Class Members pursuant to the Claims Process and Distribution Plan set forth below in Paragraph 3.4. All payments to Settlement Class Members shall be made from the Settlement Fund.
to Settlement Class Members whose Settlement Claims the Settlement Administrator preliminary determines meet the eligibility criteria of the Agreement, the Settlement Administrator will, after the Effective Date, send a Notice of Approved Claim in the form attached hereto as Exhibit H. The Notice of Approved Claim will direct the Settlement Class Member to contact Pella’s Customer Service Department at (▇▇▇) ▇▇▇-▇▇▇▇ for information regarding possible benefits under the product warranty and the ProLine Service Enhancement Program, and any cash benefits, if applicable. Pella will administer its product warranty and the PSEP in their normal course, including the ability to reject claims for damages not covered by the Warranty or the PSEP. Cash benefits, if any, will be determined under the terms of this Agreement. After all such claims have been processed and paid, if applicable, Pella Corporation, through its counsel, will provide Lead Class Counsel a report of claims applied for and claims paid under this provision.
to Settlement Class Members. All checks issued to the Settlement Class member claimants in accordance with this Paragraph shall indicate on their face that they are void after one hundred and eighty (180) days from the date issued (“Void Date”). Any monies received as a result of the Assigned Claims, net of attorneys’ fees and costs and claims administration costs, as specified in Paragraphs 29 and 33, will be distributed pro rata as an additional payment to the Settlement Class Members who submitted valid Claim Forms and to whom payment awards were issued pursuant to paragraph 44.