Xxxxx Settlement Fund Sample Clauses

Xxxxx Settlement Fund. The Settlement Amount paid by Defendant will be Eight Million, Seven Hundred and Eighteen Thousand, Nine Hundred and Six Dollars and Sixty-Four Cents ($8,718,906.64). This amount will be paid by Defendant to the QSF within ten (10) days of the Effective Date.
Sample 1
AutoNDA by SimpleDocs
Xxxxx Settlement Fund. In the month that the District Court approves and enters the Preliminary Approval Order, Babolat VS North America, Inc. shall open the Settlement Account as an escrow account with a reputable financial institution (which institution shall be subject to escrow instructions regarding the release of funds therefrom as approved by the Parties and the Settlement Administrator), and deposit three hundred thousand U.S. dollars ($300,000) into such Settlement Account in escrow. Babolat VS North America, Inc. shall thereafter make additional deposits of two hundred thousand U.S. dollars ($200,000) into the Settlement Account in escrow in each of the following six months. Babolat VS North America, Inc. shall deposit sufficient funds in the eighth month from the approval and entry of the Preliminary Approval Order to bring the total of deposits and accrued interest to four million five hundred thousand U.S. dollars ($4,500,000). Babolat VS North America, Inc. shall not be liable for payment of any fees, costs, expenses, awards, Class Recovery, or any other sums authorized under this Agreement beyond its deposits into the Settlement Account, totaling $4,500,000, including accrued interest, as set forth in this paragraph. Once Babolat VS North America, Inc. deposits funds into the Settlement Account, the risk of loss for such funds shall pass from Babolat VS North America, Inc. to the financial institution operating the Settlement Account unless otherwise agreed by the Parties. Unless this Settlement Agreement is terminated pursuant to Section V.D. below, Babolat VS North America, Inc. shall not withdraw or otherwise utilize the funds in the Settlement Account other than to pay them into the Gross Settlement Fund within five (5) business days after the Final Effective Date of the Settlement, or to pay the Settlement Administrator’s costs and expenses in accordance with the terms of the Settlement Administrator’s services agreement and applicable escrow instructions. The Settlement Administrator shall provide copies of the Settlement Account’s monthly statements to Class Counsel and Babolat’s Counsel no later than the fifteenth (15th) day of each month between the date the District Court approves and enters the Preliminary Approval Order and the Final Effective Date of the Settlement. Except for the payment of the Settlement Administrator’s costs and expenses in accordance with the terms of the Settlement Administrator’s services agreement and applicable escrow instruct...
Sample 1
Xxxxx Settlement Fund. Defendants agree to pay a Gross Settlement Fund of no more than One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000), subject to this section, to resolve the Litigation. The Gross Settlement Fund, subject to this section, shall be payment in full of all damages, interest thereon, attorneys’ fees, costs and disbursements (including but not limited to future attorneys’ fees, costs and disbursements to be incurred in filing the Litigation and obtaining court approval), and any other damages, costs or expenses arising out of the Litigation. Defendants shall pay Employer Payroll Taxes separately from, and in addition to, the Gross Settlement Fund.
Sample 1

Related to Xxxxx Settlement Fund

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

  • Funding of Gross Settlement Amount Defendant shall fully fund the Gross Settlement Amount, and also fund the amounts necessary to fully pay Defendant’s share of payroll taxes by transmitting the funds to the Administrator no later than 14 days after the Effective Date.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $290,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

  • The Settlement The Settlement was reached on May 11, 2018. Class Counsel filed this action on May 10, 2018. Over two years prior to the filing of this action, Class Counsel and Defendant’s Counsel conducted an adversarial informal discovery process. Class Counsel reviewed and analyzed thousands of pages of documents provided by Defendant and also reviewed many other documents, including U.S. Department of Labor Forms 5500 and other publicly available documents. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after six months of extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund of $17,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $17,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. In addition to the monetary component of the Settlement, the Parties to the Settlement have agreed to certain additional terms: (1) During the first eighteen months (18) following the final approval of the Settlement, Defendant has agreed that the Plan’s fiduciaries will conduct a Request for Proposal (“RFP”) process for recordkeeping services to the Plan; (2) Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option; (3) Defendant also will use an independent consultant familiar with fixed income investment options in defined contribution plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund; (4) In addition, during the three- year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees; and (5) In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (a) the lowest-cost share class available for any particular mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; (b) the availability of revenue sharing rebates on any share class available for any particular mutual fund considered for inclusion in the Plan; and (c) the availability of collective trusts, to the extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plan.

  • Loss Settlement Covered property losses are settled as follows:

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • Notice to Settlement Class Members 5.1 The Parties agree that the following Notice Program provides reasonable notice to the Settlement Class.

Time is Money Join Law Insider Premium to draft better contracts faster.