Uncashed Settlement Checks Sample Clauses
The Uncashed Settlement Checks clause outlines the procedures and consequences related to settlement checks that are issued but not cashed by recipients within a specified period. Typically, this clause will set a deadline for cashing the checks and may describe what happens to the funds if the checks remain uncashed, such as reversion to the payer, donation to charity, or redistribution among other claimants. Its core practical function is to ensure that unclaimed settlement funds are handled in a clear and predetermined manner, preventing indefinite liability and administrative uncertainty for the parties involved.
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Uncashed Settlement Checks. The Settlement Administrator shall pay the amount of any Settlement Checks that remain uncashed at the end of the Payout Period (or the date until which any subsequent or replacement check remains payable) first to fund underpayments from the Errors and Omissions Fund (to the extent the Parties mutually agree to
Uncashed Settlement Checks. Class Members will have 180 days to cash their 23 applicable settlement checks. If any checks remain uncashed after 180 days from the date of 24 issuance, the funds represented by those checks and funds represented by Individual Settlement 25 Payment or Individual PAGA Payment checks returned as undeliverable will be donated to Legal 26 Aid at Work or other Court-approved cy pres beneficiary.
Uncashed Settlement Checks. All funds remaining from any uncashed Settlement Checks after (1) the mailing of a reminder postcard to all Potential Collective Members who have not cashed their uncashed Settlement Check within 30 days after the initial mailing, and (2) the Settlement Administrator has done a skip trace to find updated addresses for any returned checks and sent new checks to such addresses and (3) 150 calendar days after the Notice Mailing Deadline, shall be returned to Burlington by the Settlement Administrator.
Uncashed Settlement Checks. Any checks issued under this settlement shall be negotiable for at least ninety (90) calendar days. Individual checks that have not been negotiated within ninety (90) calendar days after issuance, if any, shall be void, and the underlying funds shall be paid by the Settlement Administrator to the Cy Pres Recipients.
Uncashed Settlement Checks. Any Individual Class Member Settlement Payment checks which are not deposited, endorsed or negotiated within one hundred eighty (180) days of their date of issuance shall be deemed residual funds (“Residual Funds”) on the hundred and eighty-first day (181) following distribution of the Net Settlement Amount by the Class Administrator. All Residual Funds shall revert to the GUC Recovery Trust and be distributed in accordance with Section 9.6 (d) and (e) of the Plan and Section 7.5 and 9.3 of the Trust Agreement.
Uncashed Settlement Checks. Any checks issued to Participating Class Members and/or PAGA Members must be cashed within one-hundred eighty (180) calendar days after it is mailed to him or her. If a check is returned to the Settlement Administrator, the Settlement Administrator will make all reasonable efforts to re-mail it to the Participating Class Member and/or PAGA Member at his or her correct address. If a Participating Class Member and/or PAGA Member's settlement check is not cashed within one-hundred twenty (120) calendar days after its last mailing to the Participating Class Member and/or PAGA Member, the Settlement Administrator will send the Participating Class Member and/or PAGA Member a letter informing him or her that unless the check is cashed in the next sixty (60) calendar days, it will expire and become non-negotiable, and offer to replace the check if it was lost or misplaced but not cashed. If the settlement check of a Participating Class Member and/or PAGA Member remains uncashed by the expiration of the 180-day period, the uncashed funds shall be distributed to the Controller of the State of California to be held pursuant to the Unclaimed Property Law, California Civil Code section 1500, et seq. for the benefit of those Participating Class Members and/or PAGA Members who did not cash their settlement checks until such time that they claim their property and who will remain bound by the Settlement. The Parties agree that this disposition results in no “unpaid residue” under California Civil Procedure Code section 384, as the entire Net Settlement Amount will be paid out to Participating Class Members and the entire Net PAGA Amount will be paid out to PAGA Members, whether or not they cash their settlement checks.
Uncashed Settlement Checks. Any checks issued by the Settlement Administrator to Participating Class Members and PAGA Members will be negotiable for at least one hundred eighty (180) calendar days. If a Participating Class Member or PAGA Member does not cash his or her Settlement Check or PAGA payment check within 180 days, the uncashed funds, subject to Court approval, shall be distributed to the Controller of the State of California to be held in trust pursuant to the Unclaimed Property Law, California Civil Code §1500, et. seq. for the benefit of those Participating Class Members and PAGA Members who did not timely cash their Settlement checks until such time that they claim their property. The Parties agree that this disposition results l Procedure Code § 384, as the entire Net Settlement Amount will be paid out to Participating Class Members and PAGA Members, whether or not they all cash their Settlement Checks or PAGA payment checks. Therefore, Defendants will not be required to pay any interest on such amounts. The Individual Settlement Payments provided to Participating Class Members and to PAGA Members shall prominently state the expiration date or a statement that the Settlement Check will expire in one hundred eighty (180) days, or alternatively, such a statement may be made in a letter accompanying the Individual Settlement Payment. Expired Individual Settlement Payments will not be reissued, except for good cause and as mutually agreed by the Parties in writing. The parties agree no unclaimed funds will result from the settlement.
Uncashed Settlement Checks. 84. Settlement Class Members who are sent Class Settlement Payments and PAGA Members who are sent PAGA Group Payments will have 90 calendar days after mailing by the Settlement Administrator to cash settlement checks and will be so advised of such deadline. If such Settlement Class Members and/or PAGA Members do not cash their checks within that period, those checks will become void and a stop payment will be placed on the uncashed checks. Within thirty (30) days after the expiration date of the settlement checks, the Settlement Administrator shall provide to Class Counsel and Urban’s Counsel a verification/declaration signed under penalty of perjury that it has mailed the settlement checks to Settlement Class Members and/or PAGA Members, and if uncashed, that such amounts have been sent to the Controller of the State of California to be held pursuant to the Unclaimed Property Law, California Civil Code Section 1500, et seq. in the name of the Settlement Class Member and/or PAGA Member to whom the uncashed check was addressed, for the benefit of those Settlement Class Members and/or PAGA Members who did not cash their checks until such time as they claim their property.
Uncashed Settlement Checks. Any Settlement Award checks which are not deposited, endorsed, or negotiated within 120 calendar days of their date of issuance without any further action by the Court, shall be deemed unclaimed funds (the “Unclaimed Funds”) on the 121st day following the date of such issuance and treated as described below.
Uncashed Settlement Checks. Any checks issued by the Claims Administrator to 10 Class Members will be negotiable for one-hundred eighty (180) calendar days. After one-hundred 11 eighty (180) calendar days from the date of mailing, the checks shall become null and void, and 12 any monies remaining in the distribution account shall be distributed to Settlement Class Members 13 pursuant to the workweek calculations used to determine the Individual Settlement Payment.
