Selection and Responsibilities of Settlement Administrator Sample Clauses

Selection and Responsibilities of Settlement Administrator. The settlement administrator that is mutually agreeable to the Company and Settlement Class Counsel or their designees, and supervised by Settlement Class Counsel (the “Settlement Administrator”), and subject to the supervision, direction and approval of the Court, shall be responsible for the administration of the Settlement Funds. The responsibilities of the Settlement Administrator shall expressly include without limitation: (a) the determination of the eligibility of any Settlement Class Member to receive payment from the Settlement Funds and the amount of payment to be made to each Settlement Class Member, in accordance with the Agreement; (b) the filing of any tax returns necessary to report any income earned by the Settlement Funds and the payment from the Settlement Funds, as and when legally required, of any tax payments (including interest and penalties) due on income earned by the Settlement Funds and to request refunds, when and if appropriate, with any such tax refunds that are issued to become part of the Settlement Funds; and (c) the compliance by the Settlement Funds with any other applicable law.
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Related to Selection and Responsibilities of Settlement Administrator

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