Global Settlement Proceeds funding Sample Clauses

Global Settlement Proceeds funding. Within 30 calendar days after the Effective Date, all Paying Settling Parties, and TJPA, and/or their respective insurers or risk financing entities, as appropriate, on their respective behalves hereby agree and shall pay to the Global Settlement Administrator their respective portions of the Global Settlement Proceeds pursuant to the Proceeds Agreement (as to the Paying Settling Parties) or as set forth below (as to TJPA and CCSF). The mediation team has verified and confirmed the amounts to be paid by TJPA and its insurers or risk financing entities to the Global Settlement Administrator provided this Global Settlement Agreement is approved by the TJPA Board and all other conditions precedent to payment in Section 3.3 are satisfied. By full execution of this Global Settlement Agreement after the TJPA Board approval, TJPA agrees that it shall pay or cause its insurers or risk financing entities to pay, those amounts, which shall only be disclosed after execution of the Global Settlement Agreement by all other Settling Parties and approval of the Global Settlement Agreement by the TJPA Board as provided and subject to the conditions above. In no event shall the timing of TJPA’s payment obligations, or obligations of its risk financing entities or insurers, occur before the time for payments to the Global Settlement Administrator by any Paying Settling Party or their respective insurers. Payments made to the Global Settlement Administrator by or on behalf of TJPA shall be handled in accordance with the escrow instructions applicable to payments by Paying Settling Parties as agreed to with Citibank, N.A. The mediation team has also committed to TJPA and the CCSF that within 30 days of the full execution of the Global Settlement Agreement they will re-confirm with the MTA, Class Counsel (on behalf of the Settlement Class), and the Plaintiffs’ Groups the amounts they are expected to receive from the Global Settlement Proceeds. Should the mediation team report to TJPA and the CCSF that they are unable to provide such confirmation (“Failed Confirmation”), TJPA and/or the CCSF shall have the right to terminate this Global Settlement Agreement and any other Agreement it is incorporated into to which it is a party. The parties acknowledge that this Failed Confirmation shall fall outside any mediation protections. Should TJPA and/or the CCSF intend to exercise such termination rights, TJPA and/or the CCSF shall first provide notice of intent to do so to all Settling...
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Related to Global Settlement Proceeds funding

  • Funding of Gross Settlement Amount Defendant shall fully fund the Gross Settlement Amount, and also fund the amounts necessary to fully pay Defendant’s share of payroll taxes by transmitting the funds to the Administrator no later than 14 days after the Effective Date.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $290,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court, you are allowed to roll over up to 90 percent of the proceeds to your Traditional IRA, within 180 days after receipt of such amount, or by a later date if extended by federal law. If you make such a rollover contribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

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