TMS Settlement Class definition
Examples of TMS Settlement Class in a sentence
The amount of any incentive award approved by the Court, and any interest attributable to said amount while in escrow, shall be deducted from the Settlement Fund to determine the “Net Settlement Fund” from which any award of attorneys’ fees to Plaintiffs’ Counsel to be paid from the common fund recovery shall be deducted before the balance is distributed to the TMS Settlement Class Members as the “Net Distributable Settlement Fund” in accordance with Schedule A.
If any TMS Settlement Class Member refuses to accept receipt of an TMS Settlement Class Member Payment check, or does not cash an TMS Settlement Class Member Payment check within thirty (30) days of receipt, Class Counsel shall undertake reasonable efforts to locate and/or contact the TMS Settlement Class Member and inquire about receiving and/or cashing the check.
The Settling Defendants, the Named Plaintiffs and the TMS Settlement Class Members waive any objection that each such Party may now have or hereafter have to the venue of such suit, action, or proceeding and irrevocably consent to the jurisdiction of the Clay County Court in any such suit, action or proceeding, and agree to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding.
The Releasors shall not include any of the following: (a) any members of the TMS Settlement Class who opt out of the Settlement in accordance with Paragraph 9 below; (b) any person(s) not identified as a member of the TMS Settlement Class on Exhibit D; or (c) the Named Plaintiffs and any other Non-TMS Plaintiff Borrowers.
Conversely, if the Chapter 7 bankruptcy trustee opts out of the Settlement, the member of the TMS Settlement Class shall be deemed to have opted out of the Settlement.
The Settling Defendants shall not be liable for or obligated to pay any fees, expenses, costs or disbursements to the Named Plaintiffs, Plaintiffs’ Counsel and/or any of the TMS Settlement Class Members or any attorney representing any of them, either directly or indirectly, in connection with the Litigation or the administration of this Agreement, other than the amounts expressly provided for herein.
The amount of any such award, and any interest attributable to said amount(s) while in escrow, shall also be deducted from the Settlement Fund to determine the Net Settlement Fund from which any award of attorneys’ fees to Class Counsel to be paid from the common fund recovery shall be deducted before the balance is distributed to the TMS Settlement Class Members as the “Net Distributable Settlement Fund” in accordance with Schedule A.
If any TMS Settlement Class Member has died, filed for bankruptcy, or otherwise voluntarily or involuntarily transferred his or her rights under a CFG-TMS Loan, the person’s heir, representative, successor or assign shall be deemed a TMS Settlement Class Member.
Exhibit D constitutes a list of the members of the TMS Settlement Class to whom notice pursuant to this Agreement shall be provided.
The Named Plaintiffs may petition the Court for the payment of an incentive award in a total amount not to exceed $10,000 per couple ($30,000 total) in recognition of their services and commitment to the TMS Settlement Class and the claims that have resulted in a substantial benefit to the TMS Settlement Class Members.