Settlement Escrow definition

Settlement Escrow means an account established by the Settlement Administrator to hold the Settlement Amount paid by SkyZone under Section C hereof, and from which amounts due pursuant to this Agreement will be paid.
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Settlement Escrow means that certain $2.5 million escrow established by the Debtors for the benefit of the Debtors’ unsecured creditors and the beneficiaries of the Litigation Trust pursuant to the UCC- LT Settlement Order.
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Settlement Escrow means an escrow account established by the Administrator for the purpose of receiving the Settlement Fund and from which the Administrator will issue payments to effectuate this Settlement Agreement.
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Examples of Settlement Escrow in a sentence

  • Any and all Taxes on the income of the Settlement Escrow Account shall be timely paid out of the Settlement Escrow Account.

  • The Dismissal Documents shall be held or filed, as applicable, by the Escrow Agent in accordance with the Settlement Escrow Agreement.

  • The Escrow Agent shall hold and file the Dismissal Documents solely in accordance with the terms of the Settlement Escrow Agreement.

  • Interest earned on monies in the Settlement Escrow Account shall accrue to the benefit of the Settlement Class and shall be available to pay Eligible Claimants; shall be credited toward the balance Bow is required to maintain in the Settlement Escrow Account; and shall revert to Bow in the event the settlement fund is not exhausted following the close of the Claim Period, and after all timely Claims have been determined and paid as set forth herein.

  • In addition to the accounting described above, the Settlement Administrator will provide to Class Counsel and Defendant’s Counsel an accounting of the Settlement Escrow 60, 100, and 120 days after the Effective Date, as well as on the date that the Settlement Administrator’s services are concluded.

  • Within thirty (30) days after the Court enters Final Approval, the Settlement Administrator shall provide Class Counsel and Defendant’s Counsel an accounting of the Settlement Escrow, a calculation of the Net Settlement Fund, and a calculation of the Award.

  • The Settlement Administrator will provide Class Counsel and Defendant’s Counsel monthly invoices for all services rendered and may distribute from the Settlement Escrow the full amount of each invoice within seven (7) days after submitting such invoice if no objection is raised to the charges listed on the invoice.

  • The funds in the Settlement Escrow shall be deemed a “qualified settlement fund” within the meaning of United States Treasury Reg.

  • During the Claim Period, Bow shall make additional payments into the Settlement Escrow Account up to the total of the Class Settlement Fund (less any amounts credited to Bow for reasonable fees and costs of notice and administration advanced prior to the creation of the Class Settlement Fund) sufficient to maintain a balance in the Settlement Escrow Account throughout the entire Claim Period of at least One Million Dollars ($1,000,000.00).

  • The Settlement Administrator shall give Bow twenty-one (21) business days written notice (which notice shall also be given to Lead Class Counsel) of the need to make any such additional payment to maintain that balance in the Settlement Escrow Account.

Related to Settlement Escrow

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Adjustment Escrow Amount means $1,000,000.

  • Settlement Account means an account at a financial institution designated by Merchant as the account to be debited and credited by Bank for Transactions, fees, Chargebacks and other amounts due under the Merchant Agreement.