Administration of the Settlement Fund Sample Clauses

Administration of the Settlement Fund. 10.1 The Settlement Administrator shall establish the Settlement Fund in a non-interest- bearing account. The Settlement Administrator shall administer the Settlement Fund, subject to the continuing jurisdiction of the Court and from the earliest possible date, as a qualified settlement fund as defined in Treasury Regulation § 1.468B-1, et seq. Any taxes owed by the Settlement Fund shall be paid by the Settlement Administrator out of the Settlement Fund. Defendants shall not have any other financial obligation under the Agreement, other than, to the extent required, costs of serving notices under the Class Action Fairness Act of 2005, 28 U.S.C. § 1715. In addition, under no circumstances will Defendants have any liability for taxes or tax expenses under the Agreement.
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Administration of the Settlement Fund. 17. Plaintiffs’ Counsel shall retain a settlement administrator (the “Settlement Administrator”), which shall, subject to the supervision, direction and approval of the Wisconsin Court, oversee administration and distribution of the Settlement Fund.
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Administration of the Settlement Fund. Lead Counsel, or their authorized agents, acting on behalf of the Class, and subject to Court oversight and direction and in compliance with Treasury Regulation § 1.468B-2, shall administer the Settlement Fund under such terms and conditions as may be approved by the Court. Subject to Court order, the Settlement Fund may be used:
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Administration of the Settlement Fund. 14. Each Settlement Class Member shall look solely to the Settlement Fund for settlement and satisfaction, as provided herein, of all Released Claims. Except as provided by order of the Court, no Settlement Class Member shall have any interest in the Settlement Fund or any portion thereof. Defendants shall have no liability or responsibility with respect to disbursements from, or administration of, the Settlement Fund.
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Administration of the Settlement Fund. The funds on deposit in the Settlement Fund shall be invested only in United States Treasury securities and/or securities of United States agencies backed by the full faith and credit of the United States Treasury, and mutual funds or money market accounts that invest exclusively in the foregoing securities. The Settlement Fund shall be structured and managed to qualify as a “qualified settlement fund” described in the Treasury regulations promulgated under Section 468B of the Internal Revenue Code and no Party shall take any position in any filing or before any tax authority that is inconsistent with such treatment. The Financial Institution or another Person designated by Xxxxxx Xxxxxxxx, P.L.C. shall be the Settlement Fund “administrator,” as that term is used in the Section 468B Treasury regulations (the “Administrator”). The Administrator shall (a) prepare and file all income tax and information returns required to be filed, and provide payees with copies of such information returns; (b) pay all taxes owed by the Settlement Fund; (c) pay the fees and expenses incurred by the Financial Institution associated with the administration of the Settlement Fund; and (d) obtain and provide Defendant with the Settlement Fund’s federal taxpayer identification number on or before the date that Defendant transfers funds to the Settlement Fund. The Administrator shall be authorized to retain a certified public accounting firm for these purposes. All taxes on the income of the Settlement Fund and tax-related expenses, including the expenses, if any, of a certified public accounting firm, incurred in connection with the administration of the Settlement Fund shall be paid solely out of the Settlement Fund, shall be considered a cost of administration of the Settlement, and shall be timely paid without further order of the Court. All fees and expenses of the Administrator or the Financial Institution, and of professional advisors engaged by the Administrator or the Financial Institution in connection with the Settlement Fund, shall be funded solely from the Settlement Fund. The Administrator may instruct the Financial Institution to reserve any portion of the Settlement Fund for the purpose of satisfying future or contingent expenses or obligations, including expenses of Settlement Fund administration or any disbursement provided for in Article 7 of this Settlement Agreement. The Parties agree that Defendant has no responsibility, authority, or liability, respecting th...
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Administration of the Settlement Fund. 5.1 The Settlement Fund will be administered by the Settlement Administrator. The Settlement Administrator will not use or disburse any part of the Settlement Fund except as provided in this Agreement or by order of the Court.
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Administration of the Settlement Fund 
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Related to Administration of the Settlement Fund

  • Administration of the Trust Fund Section 4.01

  • Administration of the Trust Section 3.01

  • Administration of the Plan a. The Plan will be administered by the Company in accordance with its terms and the costs of administration shall be the responsibility of the Company. Upon determination of each Quarterly Profit calculation, such calculation shall be forwarded to the Chair of the Union Negotiating Committee accompanied by a Certificate of Officer signed by the Chief Financial Officer of the Company, providing a detailed description of any adjustments made to Earnings Before Income and Taxes and stating that Profit was determined in accordance with GAAP and that Quarterly Profit was calculated in accordance with this Section.

  • Administration and Collection SECTION 6.01.

  • Administration of the Mortgage Loans (a) All of the Serviced Mortgage Loans and Administered REO Properties are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Mortgage Loans and Administered REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of a Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s)), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement; (iii) the express terms of the respective Serviced Mortgage Loans and any and all related intercreditor, co-lender or similar agreements (including with respect to performing the duties of the holders of the respective Serviced Mortgage Loans thereunder (to the extent not inconsistent with this Agreement and to the extent consistent with the Servicing Standard)); and (iv) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Serviced Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing and subject to Section 3.21, (i) the Master Servicer shall service and administer all of the Performing Serviced Mortgage Loans and shall render such services with respect to the Specially Serviced Mortgage Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to Performing Serviced Mortgage Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.21.

  • Administration of Shared-Loss Assets The Assuming Institution shall at all times prior to the Termination Date comply with the Rules Regarding the Administration of Shared-Loss Assets as set forth in Article III of this Commercial Shared-Loss Agreement.

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