Common use of Unclaimed Payments Clause in Contracts

Unclaimed Payments. Any money distributed to a Participating Retiree from the 21 Participating Retirees’ Restricted 5-Year Account and not claimed by a Participating Retiree after 22 the City has exercised good faith attempts over a six (6) month period to deliver it to the best last 23 known address of such Participating Retiree shall not escheat under state law, but shall be 24 deposited in the “Participating Retirees ▇▇▇▇▇ Payments Account” which shall thereafter be 25 distributed in accordance with Section 5.3 of the Settlement Agreement.

Appears in 3 contracts

Sources: Settlement Agreement, Central Falls Settlement Agreement, Settlement Agreement