Automatic Payment Pool definition

Automatic Payment Pool means the sum of Two Million Two Hundred and Sixty-Five Thousand Dollars and Zero Cents ($2,265,000.00) that will be reserved to make the Automatic Payments as provided for in Section 12.1(a) below.
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Automatic Payment Pool means the sum that will be used to make the Automatic Payments as provided for in Section 11(b) below.
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Examples of Automatic Payment Pool in a sentence

  • Within thirty (30) days after receiving the second payment from Defendant in accordance with Section 4(a)(ii) above, the Settlement Administrator shall mail to each Settlement Class Member whose address on the Settlement Class List is in a State other than California an Automatic Payment Check equal to a pro rata share of the Automatic Payment Pool via First Class United States Mail, postage prepaid.

  • One Hundred Five Thousand Nine Hundred Dollars and Zero Cents ($105,900.00) shall be preliminarily allocated for the Automatic Payment Pool which allocation may be increased by the Unclaimed Amount pursuant to Section 4(b)(v) below.

  • Two Million Two Hundred Sixty Five Thousand Dollars and Zero Cents ($2,265,000.00) shall be allocated for the Automatic Payment Pool, from which the Settlement Administrator shall fund Automatic Payments to Class Members in accordance with Section 12.1(a) below.

  • Any amounts in the Claims Pool in excess of what will be required to issue all Claim Checks (the “Unclaimed Amount”) shall instead become part of the Automatic Payment Pool.

  • Any funds remaining in the Automatic Payment Pool after the Automatic Payment Checks become void shall become part of the Net Settlement Fund.