Settlement Funding definition
Examples of Settlement Funding in a sentence
The Parties agree that the escrow account into which the Settlement Fund is deposited, following the Settlement Funding Deadline, is intended to be and will at all times constitute a “qualified settlement fund” within the meaning of Treas.
The Seller is the owner of all of the issued and outstanding equity capital (the “Membership Units”) of CBC Settlement Funding, LLC, a Delaware limited liability company (together with its subsidiaries, the “Company”).
If the Percent Fee (as defined in Section 5(b) of the LSC Administrative Services Agreement) is not sufficient to cover Settlement Funding’s costs (including its employee costs) incurred in performing its duties under this Agreement and the LSC Administrative Services Agreement, then the parties agree to negotiate in good faith an amendment to this Agreement and the LSC Administrative Services Agreement to pay a sufficient fee to Settlement Funding to cover its costs.
Notwithstanding the foregoing, with respect to the Annual Budget for Fiscal Year 2014 and Fiscal Year 2015, the budgeted expenditures and revenues shall be consistent with the projections included in the “CBC Settlement Funding Business Overview” delivered to Asta.
The Defendants shall pay all reasonable notice costs as part of the Administration Expenses up to a maximum of CAD $25,000 in addition to the Maximum Settlement Funding.
Promptly following the Settlement Funding Date, and conditioned on the execution of the Release by the Settling Claimants, the QSF Administrator will release the amounts set forth in Exhibit C to the relevant Plaintiffs’ Counsel, in trust for their respective Settling Claimant, subject to (a) any applicable lien holdbacks or payment obligations, and (b) the payment of any court-ordered common cost assessments.
The Defendants shall pay a maximum of CAD $25,000 towards Administration Expenses in addition to the Maximum Settlement Funding with any amount of Administration Expenses greater than CAD $25,000 being paid from the CAD $375,000 Maximum Settlement Funding.
Subject to Section 4(a), all charges, fees and costs that may be due to Settlement Funding by PGHI in connection with this Agreement shall be satisfied by the payment obligations of Life Settlement Corporation under Section 5(b) of that certain Administrative Services Agreement, dated as of July 1, 2000, as amended, between Settlement Funding and Life Settlement Corporation (the “LSC Administrative Services Agreement”).
Subject to the Court’s approval, the service award shall be paid from the Net Settlement Fund five (5) days after the Settlement Funding Deadline.
If the parties are unable to reach such an Agreement within 30 days of bringing this issue to the Attention of LSC and PGHI, Settlement Funding shall be entitled to unilaterally reduce the scope of services provided under this Agreement so as not to be paid less than the costs incurred in performing those services.