Settlement Effective Date definition
Examples of Settlement Effective Date in a sentence
For the sake of clarity, any and all defenses that might exist as of the Settlement Effective Date are forever waived, including without limitation any defense set forth in MCL 600.5720, and the only defenses are those that arise solely on or after the Settlement Effective Date.
Any unpaid monthly payments not made from March 1, 2025 through the Settlement Effective Date will be added to the Option Price Balance for anyone electing the Payoff Option.
The Settlement Administrator will mail an election form (described as the “Option Form” in the class notice) to each Occupant Settlement Class Member within ten (10) days of the Settlement Effective Date informing them of the deadline sixty (60) days after the Settlement Effective Date to return the form to the Settlement Administrator indicating whether they elect the Cash for Keys Option or the Pay Off Option.
Each LOP Occupant Class Member that elects the Cash for Keys option shall have sixty (60) days after the Settlement Effective Date to surrender possession of the applicable Occupied Property in exchange for the cash payment.
For those not electing the Payoff Option, Defendants may seek to collect amounts accrued between March 1, 2025 and the Settlement Effective Date in connection with an eviction proceeding, which eviction proceeding cannot commence prior to the Settlement Effective Date.