Settlement Credit definition

Settlement Credit has the meaning ascribed thereto in Section 7.6(b).

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Settlement Credit means (a) $25 million – constituting the aggregate of the Settlement Amount, unless the Court shall determine when assessing liability against the Barred Person that some portion of the damages claimed which were settled by the Settlement, are different from those for which the Barred Person is liable, then (b) $25 million minus the portion of the Settlement Amount determined by the Court to have been paid with respect to such different damages claimed; provided that the Settlement Credit shall not reduce the total amount of the Settlement Class’ recovery against all Barred Persons by more than the Settlement Amount; and further provided that nothing in this paragraph shall permit the Settlement Class to recover more than their total amount of damages for the Claims asserted in the ERISA Action;

Settlement Credit means (a) the Settlement Amount ($29,850,000, or $28,850,000 as per paragraph 1.40.1.3) — constituting the maximum possible aggregate of the Settlement Amount, Supplemental Settlement Amount, and ▇▇▇▇▇▇ Supplemental Settlement Amount; unless the Court shall determine when assessing liability against the Barred Person that some portion of the damages claimed which were settled by the Settlement, are different from those for which the Barred Person is liable, then (b) the Settlement Amount ($29,850,000, or $28,850,000 as per paragraph 1.40.1.3) minus the portion of the Combined Settlement Amount determined by the Court to have been paid with respect to such different damages claimed; provided that the Settlement Credit shall not reduce the total amount of the Settlement Class’ recovery against all Barred Persons by more than the Settlement Amount; and further provided that nothing in this paragraph shall permit the Settlement Class to recover more than their total amount of damages for the Claims asserted in the ERISA Action;

Examples of Settlement Credit in a sentence

On any date, the Concessionaire, at its option, may pay to the City all or any portion of the Settlement Credit, including accrued interest thereon, due to the City.
The role of settlement representatives is to communicate with the Operator on behalf of the Market Participant about matters relating to Settlement, Credit Support and prudential matters.
Any balance of a Settlement Credit shall bear interest at the Bank Rate (which interest shall be compounded daily) from the last Day of its respective Quarter until applied or discharged.
Other Charges – A limited or one time adjustment; e.g., El Paso Settlement Credit.
Any such Quarterly Settlement Amount shall be reduced by the application of the amount of any available Settlement Credit and any Quarterly Settlement Amount remaining after such reduction must be paid within 60 Days following the final determination of such Quarterly Settlement Amount in accordance with Section 7.4 or Section 7.15.
Any balance of a Settlement Credit shall bear interest at the Bank Rate from the last Day of its respective Quarter until applied or discharged.
On the End Date, the amount of any such accrued Settlement Credit, including accrued interest, shall constitute the final settlement amount to be paid by the Concessionaire to the City on the End Date.
Any such Quarterly Settlement Amount shall be reduced by the application of the amount of any available Settlement Credit and any Quarterly Settlement Amount remaining after such reduction must be paid within 60 Days following the final determination of such Quarterly Settlement Amount in accordance with Section 7.4.
On the End Date, the amount of any such accrued Settlement Credit, including accrued interest, shall constitute the final settlement amount to be paid by the Concessionaire to the City on the End Date; provided, however, that such amount shall be deemed discharged and no such payment shall be required if the End Date is on or after February 29, 2084.
Technical Assistance shall mean the provision by the Trustees of assistance to [COMPANY] in the evaluation, design and planning of proposed or actual Covered Projects and the determination of Forecast Settlement Credit Value for such Covered Projects.

More Definitions of Settlement Credit

Settlement Credit has the meaning ascribed thereto in Section 7.5(b). “Settlement System Revenue Value” means (i) on or prior to , 2011 [Last Day of First Full Reporting Year], Initial Revenue Value, (ii) on any date from 1, 2011 to , 2012 [Last Day of Second Reporting Year], both dates inclusive, Actual System Operating Revenue for the preceding Reporting Year multiplied by the Initial Reporting Year Multiplier with the result divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year multiplied by the Initial Reporting Year Multiplier, and (iii) on or after 1, 2012 [First Day of Third Reporting Year], Actual System Operating Revenue for the preceding Reporting Year, divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year.

Settlement Credit means a credit given in place of a repayment of income tax paid pursuant to the provisions of the benefits code (as defined in section 63 of ITEPA 2003), Class 1A National Insurance contributions, corporation tax or repayment interest thereon and set off in the settlement agreement against any part of the tax, National Insurance or other liabilities the counterparty settled under that settlement agreement;

Settlement Credit means a credit in respect of a settlement with an Excluded Customer.

Settlement Credit has the meaning ascribed thereto in Section 7.5(b). “Settlement System Revenue Value” means (i) on or prior to December 31, 2011, Initial Revenue Value, and (ii) on any date on or after January 1, 2012, Actual System Operating Revenue for the preceding Reporting Year, divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year.

Settlement Credit means a specific redeemable credit offered by the Defendant to a Settlement Class Member pursuant to this Settlement and apportioned from the Settlement Value as defined herein;

Settlement Credit means either (a) $47,000,000, or (b) such other amount determined by the Court at the time of entry of judgment against any Barred Person to have been the value realized by the Class from the Settlement; provided that if the Court shall determine when assessing liability against the Barred Person that some portion of the damages claims settled in the Settlement are different from those for which the Barred Person is liable, then the amount described in clauses (a) or (b) of this Paragraph minus the portion of the Settlement Amount determined by the Court to have been paid with respect to such different damages claims.