Residual Funds definition

Residual Funds means the portion of the Net Settlement Fund that remains undistributed as further described in Section XI.

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Residual Funds means funds that remain after the pay- ment of all approved class member claims, expenses, litigation costs, attorney fees, and other court−approved disbursements in an action under this section.

Residual Funds means funds that remain after the payment of all approved class member claims, expenses, litigation costs, attorney fees and other court-approved disbursements in an action under this section.

Examples of Residual Funds in a sentence

If any Residual Funds remain resulting from uncashed checks 120 days after distribution to Settlement Class Members, the Settlement Administrator and Defendant will distribute said Residual Funds in a second distribution, in the same manner as the first distribution, to Settlement Class Members who received an Account credit or cashed a check in the first distribution, if the average amount of a such a second distribution would be greater than $5.00 after deducting the costs of the second distribution.
The Settlement Administrator shall distribute the Residual Funds in a second distribution to Class Members who received credits or who cashed checks in the first round of distribution, if the average Class Member check amount in the second distribution would equal or exceed $5.00 after deducting the costs of a second distribution from the Settlement Fund.
Following the second distribution, or if no second distribution is indicated based on the average distribution amount, any remaining Residual Funds must be paid on a cy pres basis as follows: fifty percent (50%) to the United Way of the National Capital Area and fifty percent (50%) to Mobile Hope.

More Definitions of Residual Funds

Residual Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and after all settlement payments to Settlement Class Members. Often in class action settlements, some number of class members who submit valid claims and are then issued Settlement Payments fail to cash or deposit their settlement payments. The funds remaining in the Settlement Fund after Settlement Payments have been distributed and the time for cashing and/or depositing such payments has expired will be Residual Funds. The Residual Funds will be sent to a 501(c)(3) charitable organization to be agreed upon by the Parties and approved by the Court.

Residual Funds means any funds that remain in the Qualified Settlement Fund after settlement payments have been distributed and the time for cashing and/or redeeming Settlement Payments has expired. The Residual Funds will be sent to one or more Non-Profit Residual Recipient.

Residual Funds means Direct Service Worker Reimbursement Rate funds that are to compensate and pay required tax and other withholdings (state and/or federal) for Participant’s DSW/employee, that are retained and not spent by the Participant during the term of the Agreement. Participant may utilize such Residual Funds pursuant to the following:

Residual Funds shall refer to all proceeds remaining in the Net Settlement Fund following the initial Cash Award distributions provided for in Section VI(b), infra.

Residual Funds means any funds held at the date of the completion of the Programme] [RPI means the specific index as published by the Office for National Statistics on a monthly basis for RPIX, failing such publication or in the event of a fundamental change to the index, such other index as the parties may agree, or such adjustments to the index as the parties may agree (in each case with the intention of putting the parties in no better nor worse position than they would have been had the index not ceased to be published or the relevant fundamental change not been made) or in the event that no such agreement is reached, as may be determined in accordance with the Dispute Resolution Procedure.] Tariff Contribution means the sum to be levied on each new development with the boundaries of the Borough Councils and paid by the developer responsible for such development to Gravesham or Dartford (as the case may be).

Residual Funds means any funds that remain in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or redeeming Settlement Payments has expired. The Residual Funds will be sent to the Internal Association of Privacy Professionals Student Scholarship Fund, a 501(c)(6) organization, subject to Court approval.

Residual Funds means any portion of the Settlement Fund that remains after distributions are made to individual Settlement Class Members.