Third Party Settlement definition
Examples of Third Party Settlement in a sentence
Subject to the Court’s approval, Class Counsel or the Third Party Settlement Administrator will cause to be paid and subtracted from these Awards and Costs any Case Contribution Awards to the Named Plaintiffs, and any and all case-related expenses incurred by Class Counsel, and will be responsible for the issuance of any related tax forms.
However, if the Third Party Settlement Administrator identifies an updated address, whether through the National Change of Address database, communications with Settlement Class Members, or other reasonably reliable methods, then the Settlement Class Members’ addresses shall be updated to reflect the updated address.
Class Counsel will be responsible for selecting, retaining, and paying for the costs of a Third Party Settlement Administrator, who will mail the Class Notice via first class mail to the Settlement Class Members.
In addition, Class Counsel shall direct the Third Party Settlement Administrator to maintain a website that shall include, at a minimum, copies of the Court’s Preliminary Approval Order, the Settlement Agreement, any motions for attorneys’ fees and costs, any motions for final approval, and any other significant orders issued in connection with this Settlement.
On the date and in the manner set by the Court in its Preliminary Approval Order, the Third Party Settlement Administrator will cause Class Notice to be sent via first class mail to the Settlement Class in the form and manner approved by the Court.
In addition to Class Notice, the Third Party Settlement Administrator shall send Claim Forms to Settlement Class Members eligible to receive a portion of the Qualified Settlement Fund pursuant to §7.2, below, and the Plan of Allocation as approved by the Court.
Payment of any amounts from the Qualified Settlement Fund to Settlement Class Members under this § 7.2.1 will be conditioned on the Third Party Settlement Administrator’s receipt of a valid Claim Form.
Prior to the time the Settlement Class Notice is disseminated, and no later than twenty-one (21) days after the Third-Party Settlement Administrator receives the Notice List, the Third Party Settlement Administrator shall cause the Settlement Webpage to be activated on the Internet.
Defendants will pay, or cause to be paid, to the Third Party Settlement Administrator the Maximum Total Awards and Costs or any lesser amount as ordered by the Court in its discretion within thirty (30) days after the Final Approval Order becomes Final as defined in § 1.13 of this Settlement Agreement.
Plaintiff's Counsel has sole responsibility to set up and administer the Settlement Account through the Third Party Settlement Administrator.