Defendants’ Settlement Payment Obligations. In full and complete Settlement of the Xxxxxxxx Action, Defendants deposited the gross amount of the Settlement Fund to the Settlement Administrator on or about December 12, 2019, which has been deposited into an account established by the Settlement Administrator. In the event that the settlement does not receive final approval by the Court, the Settlement Administrator shall refund to Defendants the Settlement Fund deposited (plus any accrued interest) within fifteen (15) calendar days of written notice by counsel for Defendants.
Defendants’ Settlement Payment Obligations. In full and complete Settlement of the Action, subject to this Settlement receiving final approval from the Court and Judgment being entered, Defendant shall forward a sum not to exceed Seven Hundred and Seventy Nine Thousand, Five Hundred Dollars ($779,500.00) to the Claims Administrator within thirty (30) calendar days after the Final Effective Date, to be deposited by the Claims Administrator into an interest bearing account; provided, however, that by no later than ten (10) calendar days after the Final Effective Date, Class Counsel shall provide Defendant’s Counsel with all necessary information to allow Defendant to deposit the Maximum Settlement Amount with the Claims Administrator, and if Class Counsel has not timely provided such information then Defendant’s deadline for depositing the Maximum Settlement Amount with the Claims Administrator shall be extended until ten (10) calendar days after Class Counsel provides the necessary information. The Maximum Settlement Amount shall be allocated as follows:
Defendants’ Settlement Payment Obligations. The Gross Settlement Amount shall be paid in three (3) semiannual installments and one (1) final payment. The four (4) semiannual installments shall be in the amount of One Hundred Thirty-Seven Thousand Four Hundred Thirty-Seven Dollars and Ninety-Six Cents ($137,437.96) each. The first installment payment shall be made within seven (7) calendar days after the Settlement Administrator notifies Defendants of the funding and account information for forwarding the Gross Settlement Amount to the Settlement Administrator. The subsequent payments shall be made on or before February 1, 2022 and on or before August 1, 2022, with the final payment of the remaining balance made on or before February 1, 2023, until the total amount has been paid in full. In the event that the settlement does not receive final approval by the Court, the Settlement Administrator shall refund to Defendants the amounts deposited (plus any accrued interest) within fifteen (15) calendar days of written notice by counsel for Defendants.
Defendants’ Settlement Payment Obligations. In full and complete settlement of the Action, subject to this Settlement being approved by the Court and final Judgment being entered, and 10 days after the Final Effective Date, and to satisfy their Maximum Settlement Payment obligation of One Hundred Forty Thousand Dollars ($140,000), Defendants shall commence two equal installment payments in the amount of Seventy Thousand Dollars ($70,000) (to be paid no later than March 31, 2021 (first payment), and March 31, 2022 (second payment)) to the Claims Administrator (the “Settlement Payments”). In the event any scheduled payments are not paid in full or timely paid according to the schedule, Plaintiff will provide written notice to Defendants. If Defendants do not cure by making the scheduled monthly payment within seven (7) days from the date they receive notice, then the remaining amount due will be increased by 150%. The settlement funds shall be deposited by the Claims Administrator into an interest- bearing account and allocated as follows:
Defendants’ Settlement Payment Obligations
