Settlement Fund Payment definition

Settlement Fund Payment means the $45 million committed by GPC to be used to pay Final Payment Amounts to Successful Claimants, all Attorneys’ Fees and Litigation Expenses and Enhancement Payments approved by the Court, and all Administrative Expenses incurred by the Settlement Administrator in implementing the Settlement, and whose unclaimed Remainder after such payments have been made shall be distributed as required by Section 6. This Fund is separate and distinct from the additional funds committed by GPC to pay for the affirmative relief as required by Section 10 below.

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Settlement Fund Payment means the sum of two million and six-hundred thousand dollars ($2,600,000), one million and six-hundred thousand dollars ($1,600,000) of which is to come directly from TASC, and one million ($1,000,000) of which TASC will obtain from its insurer in order to resolve the claims in the Litigation, which at the time of the execution of this Settlement Agreement is Philadelphia Insurance Companies.

Settlement Fund Payment means fourteen million three hundred thousand dollars ($14,300,000.00) as described in Section IV Paragraph B.

Examples of Settlement Fund Payment in a sentence

In the event no money remains in the Settlement Fund within one year plus 30 days after the first Settlement Fund Payment is mailed, the Parties shall have no obligation whatsoever to make any residual cy pres distribution.
The Parties shall have no responsibility or liability for any federal, state, or other taxes owed by Participating Settlement Class Members as a result of, or that arise from, any Settlement Fund Payment or any other term or condition of this Agreement.
TASC shall have no obligation to deposit the Settlement Fund Payment into the Settlement Fund until the Court enters a Preliminary Approval Order.
The Settlement Administrator shall not mail Settlement Fund Payment checks to addresses from which Notices were returned as undeliverable.
Prior to mailing Settlement Fund Payment checks, the Settlement Administrator shall attempt to update the last known addresses of the Participating Settlement Class Members through the National Change of Address Database or similar databases.
If that Participating Settlement Class Member’s second check also is not deposited (or cashed) within ninety (90) days after the second check is mailed, then (1) the second check shall be null and void; (2) the Participating Settlement Class Member shall be barred from receiving a further Settlement Fund Payment under this Settlement; and (3) the amount of the Participating Settlement Class Member’s award shall revert to the Settlement Fund account and be distributed as described in Section XIV.
Settlement Fund Payment checks returned with a forwarding address shall be re-mailed to the new address within seven (7) days.
If the Participating Settlement Class Member’s estate does not inform the Settlement Administrator of the Participating Settlement Class Member’s death before Settlement Fund Payment checks are mailed, then the deceased Participating Settlement Class Member will be barred from receiving a Settlement Fund Payment under this Settlement.
JPI acknowledges and agrees that the obligation to make the Settlement Fund Payment is JPI’s obligation and that BGCP (or its Affiliates) is advancing such funds on JPI’s behalf, which advance shall be evidenced by a promissory note issued under Paragraph 5(a) of this letter agreement.
Any Settlement Fund Payment paid to a deceased Participating Settlement Class Member shall be made payable to the estate of the deceased Participating Settlement Class Member, provided that the Participating Settlement Class Member’s estate informs the Settlement Administrator of the Participating Settlement Class Member’s death before the date that Settlement Fund Payment checks are mailed and provides a death certificate confirming that the Settlement Class Member is deceased.

More Definitions of Settlement Fund Payment

Settlement Fund Payment means the cash dollar amount of the Settlement Fund that each Settlement Class Member will receive.

Settlement Fund Payment means two million dollars ($2,000,000.00) as described in Section IV Paragraph A.

Settlement Fund Payment means the $8 million committed by Defendant to be used to pay Payment Amounts to Class Members, all Attorneys’ Fees and Litigation Expenses and Enhancement Payments approved by the Court, and all Administrative Expenses incurred by the Settlement Administrator in implementing the Settlement, and whose unclaimed Remainder Funds after such payments have been made shall be distributed as required by Section 6.3.

Settlement Fund Payment means payments to Claimants whose Claims the Settlement Administrator has approved in accordance with the distribution directive in Section XIII hereof.