Gross Fund definition
Gross Fund means the principal amount of $1,175,000.00, which is the
Gross Fund means the $538,125.00 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement. No amount of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Class Counsel’s attorney fees, litigation costs, settlement administration costs, and a service award to the Class Representative. The Net Fund shall be distributed pro rata to Settlement Class Members who timely return valid claim forms (“Settlement Class Participants”). Any Settlement Class Member who does not timely return a valid claim form shall not be entitled to a payment. Because of this method of allocation to Settlement Class Participants, there will be no unclaimed funds in the Settlement.
Gross Fund means the maximum payment by Defendant pursuant to this Stipulation of One Million Two Hundred and Fifty Thousand Dollars and zero cents ($1,250,000.00) to fund the QSF. The Gross Fund shall include and be used to satisfy: (1) all Settlement Shares claimed by Qualified Collective Members; (2) any general release awards approved for Named Plaintiffs; (3) all Plaintiffs’ Counsel’s Attorneys’ fees and costs approved by the Court; (4) the reasonable fees and expenses of the Settlement Administrator; (5) the PAGA payments to the LWDA and the California PAGA Settlement Members approved by the Court; and (6) if any reversion balance remains after the payment of items (1)-(5), AUS’s share of payroll taxes for the wage portion of the Gross Fund claimed by Named Plaintiffs and Qualified Collective Members. If the reversion is insufficient to cover the amount of AUS’s share of payroll taxes, AUS shall pay the additional amount to cover its payroll taxes to the QSF. With the exception of Defendant’s share of payroll taxes, Defendant and/or the Released Parties shall not pay or be required to pay any amount in connection with this Settlement above and beyond the Gross Fund. Any amount remaining in the Gross Fund after payment of items (1)-(6) above will revert to Defendant pursuant to Section IX.4 below, except
Examples of Gross Fund in a sentence
Plaintiffs’ Counsel shall make an application to the Court for an award of attorneys’ fees of one-third of the Gross Fund.
In addition, Plaintiffs’ Counsel shall seek reimbursement of their reasonable costs and expenses of up to $10,000.00 from the Gross Fund.
The Gross Fund will be deposited in an account intended by the Settling Parties to be a “Qualified Settlement Fund” as described in Section 468B of the Internal Revenue Code of 1986, as amended, and Treas.
More Definitions of Gross Fund
Gross Fund means the One Million Five Hundred Nineteen Thousand Seven Hundred Ninety-Six Dollars and Eighty-Four Cents ($1,519,796.84) that Defendants will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendants shall be obligated to pay under this Settlement. The Class Fund consists of $1,432,617.64 representing $2,444.74 per Settlement Class Member based on an estimate of 586 members. The Subclass Fund consists of $87,179.20 and will be distributed pro rata among Eligible Settlement Subclass Members. Deductions from the Gross Fund include: • Settlement Class Counsel’s attorney fees of up to 35% of the Gross Fund, estimated at • Reasonable litigation expenses. • The Class Representative’s Service Award of up to $15,000. • The Settlement Administrator’s costs, capped at $15,000. The remainder after these deductions will constitute the Net Fund, to be distributed pro rata to eligible Settlement Class Members. Defendants shall in no circumstances pay more than the
Gross Fund means Three Million Six Hundred Fifty Thousand Dollars ($3,650,000.00), paid by T-Mobile to settle the Litigation.
Gross Fund means three million three hundred fifty thousand dollars and zero cents ($3,350,000.00). The Gross Fund provides payments to Class Members (defined below) to resolve their alleged New York City Human Rights Law claims; Service Awards to Named Plaintiffs ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇; and Attorneys’ Fees and Costs.
Gross Fund means the $151,000 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement, unless the number of the Settlement Class Members increases over the current estimate of 151, in which case the Gross Fund shall be increased on a pro rata basis (i.e., $1,000 per person added over the current estimate of $151,000]). The Gross Fund shall be decreased on a pro rata basis for each Settlement Class Member that timely and validly requests to be excluded from the Settlement Class (i.e., $1,000 less for each Settlement Class Member that timely and validly requests to be excluded from the settlement). Other than any reductions in the Gross Fund based on timely and valid requests for exclusion, none of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Settlement Class Counsel’s attorney fees and costs; the Settlement Administrator’s costs; and the Settlement Class Representative’s Service Award.
Gross Fund means $650,000.00, paid by Defendant to settle the Litigation. The Gross Fund includes all local, state, and federal wage and hour claims of the Named Plaintiffs and Potential Opt-In Plaintiffs, general release awards for Named Plaintiffs, and employees’ portions of payroll taxes (for Named Plaintiffs and Qualified Claimants) as described further below, and all attorneys’ fees and expenses of Plaintiffs’ Counsel and the expenses of the Settlement Administrator. Defendant’s share of payroll taxes shall not come out of the Gross Fund. Rather, Defendant’s share of payroll taxes shall be paid by Defendant in addition to the sum of the Gross Fund.