Allocation of Settlement Amount Sample Clauses

The Allocation of Settlement Amount clause defines how any settlement funds received in connection with a dispute or claim will be distributed among the parties involved. Typically, this clause outlines the specific proportions or priorities for dividing the settlement, such as reimbursing legal costs first and then distributing the remainder according to each party’s interest or contribution. Its core practical function is to ensure transparency and prevent future disagreements by clearly specifying how settlement proceeds are to be shared.
Allocation of Settlement Amount. The Settlement Amount shall comprise $11,478,681.00 to compensate Class Members for underpayments of pension benefits, and $9,521,319.00 to compensate Class Members for interest on those underpayments.
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Allocation of Settlement Amount. The parties agree that the Total Settlement Amount is allocated to 100% to statutory penalties, attorneys fees, interest and costs. Class members will be responsible for paying any personal income taxes owed on the amounts they receive.
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Allocation of Settlement Amount. The Settlement Amount will be allocated for Plaintiffs’ Counsel’s attorneys’ fees ($453,333.33) litigation costs ($58,916.69), and Plaintiffs’ damages. $7,500 shall be allocated to the lead named Plaintiff ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ as a service payment. An additional $500 shall be allocated to the second named Plaintiff and each of the Plaintiffs who actively participated in trial preparation. The allocations spreadsheet is attached as Exhibit A.
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Allocation of Settlement Amount. In full and complete settlement of the 22 Action and subject to this Settlement being approved by the Court, Defendant shall pay an 24 "Gross Fund Value Amount"). The Gross Fund Value Amount of $150,000.00 shall be paid 25 to the Claims Administrator no later than Fifteen (15) calendar days after the Final Effective 26 Date. If the Court does not grant final approval upon the material terms of the settlement 27 (other than modification of the requested attorney’s fees, costs or class representative service 28 award) or if five (5%) or more to the putative class members opt-out as set forth in Section
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Allocation of Settlement Amount. The administrative costs of settlement (as specified in Paragraph 6) will be deducted and paid to the Settlement Administrator first from the Settlement Amount within twenty (20) days of settlement approval. Court-approved attorneys’ fees, costs, and expenses will be deducted and paid to Plaintiffs’ counsel of record in the Lawsuit (“Plaintiffs’ Counsel”) second from the Settlement Amount within twenty (20) days of settlement approval. One-third of the remaining Settlement Amount, after deduction of administrative costs and payment of attorneys’ fees, costs, and expenses, will be allocated to Group 1. Two-thirds of the Settlement Amount remaining after deduction of administrative costs, and payment of attorneys’ fees, costs, and expenses will be available to Group 2. As a result of the above, the approximate allocation of the Settlement Amount is: (a) 6/27ths of the Settlement Amount (approximately $6.6 million) as attorneys’ fees, costs, and expenses to Plaintiffs’ Counsel, subject to Court approval; (b) 7/27ths of the Settlement Amount (approximately $7.7 million) to Group 1; and (c) 14/27ths of the Settlement Amount (approximately $15.5 million) to Group 2. Any Court-approved service payments to Group 1 members pursuant to Paragraph 9, will be deducted from the Group 1 allocation prior to the determination of pro rata individual settlement payments by the calculations below, and in addition, the amount of $200 per Group 1 member will be deducted from the Group 1 allocation prior to the determination of pro rata individual settlement payments and allocated to each Group 1 member so that each Group 1 member receives at least $200 in exchange for their release in this settlement. Payment of Court-approved service payments and the $200 minimum payments referenced in this paragraph shall not cause the total gross amount paid to Group 1 to exceed the Group 1 allocated amount as defined in the preceding sentences (i.e., one-third of the remaining Settlement Amount, after deduction of administrative costs and payment of attorneys’ fees, costs, and expenses). The remaining pro rata settlement payments to individual Participating Plaintiffs in Groups 1 and 2 shall then be determined as follows: (a) Calculate an “Individual Numerator,” which equals the total overtime pay each Participating Plaintiff received in a FWW Associate position during the relevant time period for their Group, which time periods are as follows: (i) the relevant time period for each Group 1 ...
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Allocation of Settlement Amount. A. Of the $2,500,000.00 Gross Settlement Fund, $833,333.33 will be allocated as attorneys’ fees and $1,666,666.67 will be allocated as a Settlement Fund, less the approved costs of administering the settlement, incentive awards and actual litigation costs. Except as otherwise provided in Section 5.A. of this Agreement, the Parties shall bear their own attorneys’ fees, costs, and expenses incurred in the prosecution, defense, or settlement of the Litigation, and the Named Plaintiffs and Class Counsel agree that Class Counsel shall not seek an award of attorneys’ fees, costs, or expenses in this Litigation except as set forth in this Section 5.A. The Gross Settlement Fund, inclusive of the Settlement Fund, a service award to the Named Plaintiffs and Opt-In Plaintiffs, attorneys’ fees and costs and administrative costs, is subject to the approval of the Court.
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Allocation of Settlement Amount. The City may allocate the Settlement Amount between the Released Insurers’ policies or policy years, and otherwise in such manner as the City determines in its discretion. The Released Insurers may allocate the Settlement Amount or any Released Insurer’s individually-allocated portion thereof between the Released Insurers’ policies or policy years, and otherwise in such manner as the Released Insurers determine in their discretion. The City is not bound by the Released Insurers’ allocation. The Released Insurers are not bound by the City’s allocation.
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Allocation of Settlement Amount. The Commissioner of DRS agrees to refund, and the Taxpayers agree to accept, the aggregate sum of Seventy Million Dollars ($70,000,000) in full satisfaction of the Taxpayers’ Outstanding Claims for Refund (“Settlement Refund Amount”). The parties further agree that the Settlement Refund Amount shall be allocated among the Taxpayers and paid by the Commissioner of DRS in the manner set forth in subparagraphs a. through c. below. a. The Settlement Refund Amount shall be allocated among the Taxpayers as follows: (i) As set forth in Exhibit 2, each Taxpayer shall be refunded the amount they claimed as an “Overbreadth Amount” in their Outstanding Claims for Refund for the calendar quarters occurring during the period October 1, 2015 through June 30, 2017. The aggregate amount attributable to these periods is $32,846,220; and (ii) As set forth in Exhibit 2, each Taxpayer shall be refunded an allocable share of the balance of the Settlement Refund Amount based on the amount they have claimed as an “Overbreadth Amount” in their Outstanding Claims for Refund for the calendar quarters occurring during the period July 1, 2012 through September 30, 2015. The aggregate amount attributable to these periods is $37,153,780. b. The parties agree that Exhibit 2 contains a true and accurate listing of the amount of refund each Taxpayer has agreed to accept and the DRS has agreed to pay to fully resolve and satisfy the Taxpayers’ Outstanding Claims for Refund (“Taxpayers’ Refunds”). c. The DRS will process the Taxpayers’ Refunds diligently and will pay said Refunds to the Taxpayers on or before forty-five (45) days after the Second Effective Date.
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Allocation of Settlement Amount. ▇▇▇▇▇▇▇ ▇▇▇▇▇, Individually and as Administratrix of the Estate of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ agrees to petition the 9th Circuit Court Probate Court (Nashua), or other New Hampshire probate court if necessary, for approval to allocate the Settlement Amount in such a way that the Estate of Harmony ▇▇▇▇▇▇▇▇▇▇ corpus after payment of attorneys’ fees and costs shall be distributed whereby 50% is distributed to ▇▇▇▇▇▇▇ ▇▇▇▇▇, Individually, and 50% is divided in equal shares and distributed to an estate guardian for the benefit of J.W.M. ( ), J.S. ( ), S.M. ( irrevocable trust for the benefit of each of them. The Parties agree to cooperate in good faith to provide necessary information and participation to support approval of such allocation from the Estate of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ in the probate court. If the probate court does not approve the trusts as described in this Agreement (or of substantially similar trusts), the Parties agree to work together in good faith (including, if necessary, with the assistance of mediator ▇▇▇▇▇ ▇▇▇▇▇▇) to determine a course of action that effectuates the spirit of this Paragraph and receives approval by the probate court. The creation of these trusts (or of substantially similar trusts) is a material condition of this Agreement, and this Agreement is subject to rescission should any Party not work in good faith toward the outcome contemplated by this Paragraph.
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Related to Allocation of Settlement Amount

  • Payment of Settlement Amount (1) Within sixty (60) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP for deposit into the Trust Account. (2) Payment of the Settlement Amount shall be made by wire transfer. At least thirty (30) days prior to the Settlement Amount becoming due, Siskinds LLP will provide, in writing, the following information necessary to complete the wire transfer: name of bank, address of bank, ABA number, SWIFT number, name of beneficiary, beneficiary’s bank account number, beneficiary’s address, and bank contact details. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including, without limitation, interest, costs, Administration Expenses, Class Counsel Fees and Class Counsel Disbursements. (5) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement, the Proceedings or any Other Actions. (6) Once a Claims Administrator has been appointed, Siskinds LLP shall transfer control of the Trust Account to the Claims Administrator. (7) Siskinds LLP and the Claims Administrator shall maintain the Trust Account as provided for in this Settlement Agreement. (8) Siskinds LLP and the Claims Administrator shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.

  • Net Out of Settlement Amounts The Non-Defaulting Party shall calculate a Termination Payment by aggregating all Settlement Amounts due under this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply into a single amount: by netting out (a) all Settlement Amounts that are due or will become due to the Defaulting Party, plus at the option of the Non-Defaulting Party, any cash or other form of security then available to the Non- Defaulting Party and actually received, liquidated and retained by the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply against (b) all Settlement Amounts that are due or will become due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement or any other agreement(s) between the Company and the BGS- RSCP Supplier for the provision of BGS Supply, so that all such amounts shall be netted out to a single liquidated amount; provided, however, that if the BGS-RSCP Supplier is the Defaulting Party and the Termination Payment is due to the BGS-RSCP Supplier, the Company shall be entitled to retain a commercially reasonable portion of the Termination Payment, which may be equal to the entire amount of the Termination Payment, as security for additional amounts that may be determined to be due and owing by the BGS-RSCP Supplier as Damages and further provided that any previously attached security interest of the Company in such retained amounts shall continue. The Termination Payment shall be due to or due from the Non-Defaulting Party as appropriate. If the Termination Payment has been retained by the Company as security for additional amounts that may be determined to be due and owing by the BGS-RSCP Supplier, and if, upon making a final determination of Damages, the Termination Payment, or any portion thereof, is to be made to the BGS-RSCP Supplier, the Company will pay simple interest on the Termination Payment amount being made to the BGS-RSCP Supplier. Simple interest will be calculated at the lower of the Interest Index or six (6) percent per annum.

  • 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.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $1,110,000.00 as the Gross Settlement Amount. Defendant will separately pay the employer's share of payroll taxes on the Wage Portion of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount 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.

  • Termination of Settlement If the Settlement is terminated as provided in the Stipulation, this Order shall be vacated, rendered null and void and be of no further force and effect, except as otherwise provided by the Stipulation, and this Order shall be without prejudice to the rights of Plaintiffs, the other Class Members and Defendants, and the Parties shall revert to their respective positions in the Action as of immediately prior to August 24, 2015, as provided in the Stipulation.