Allocation of Settlement Proceeds Clause Samples
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Allocation of Settlement Proceeds. 1. All Opioid Funds shall be divided with 44% to the State (“State Share”) and 56% to the Participating Local Governments (“LG Share”).2
2. All Opioid Funds, except those allocated to payment of counsel and litigation expenses as set forth in Section E, shall be utilized in a manner consistent with the Approved Purposes definition. Compliance with this requirement shall be verified through reporting, as set out in Section F.
3. Each LG Share will be distributed to each Region or Multicounty Region as set forth in Section B(2). Participating Counties and their constituent Participating Cities and Towns may distribute the funds allocated to the Region or Multicounty Region amongst themselves in any manner they choose. If a county and its cities and towns cannot agree on how to allocate the funds, the default allocation in Exhibit C will apply. The default allocation formula uses historical federal data showing how each county and the cities and towns within it have made opioids-related expenditures in the past. If a county or any cities or towns within a Region or Multicounty Region do not sign on to this Agreement and each 2 This Agreement assumes that any opioid settlement for Native American Tribes and Third-Party Payors, including municipal insurance pools, will be dealt with separately. Settlement, and if the Participating Local Governments in the Region or Multicounty Region cannot agree on how to allocate the funds from that Settlement amongst themselves, the funds shall be reallocated proportionally by applying this same methodology to only the Participating Local Governments in the Region or Multicounty Region.
4. If the LG Share for a given Participating Local Government is less than $500, then that amount will instead be distributed to the Region or Multicounty Region in which the Participating Local Government is located to allow practical application of the abatement remedy. If the county did not sign on to the Settlement as defined herein, the funds will be reallocated to the State Share.
5. The State Share shall be paid by check or wire transfer directly to the State through the Trustee, who shall hold the funds in trust, or as otherwise required by a Settlement for the benefit of the State, to be timely distributed as set forth in C(1) herein. The LG Share shall be paid by check or wire transfer directly to the Regions or Multicounty Regions through the Trustee, who shall hold the funds in trust, or as otherwise required by a Settlement for t...
Allocation of Settlement Proceeds. 1. All Opioid Funds shall be divided with forty percent (40%) to the State (“State Share”); forty percent (40%) to the Participating Local Governments (“LG Share”); and twenty percent (20%) to the Participating Health Districts (“HD Share”).2
2. All Opioid Funds, regardless of allocation, shall only be utilized for Approved Purposes included in Exhibit A. Compliance with this requirement shall be verified through reporting, as set out in Section D of this Agreement. The parties acknowledge that under the terms of the National Settlement Agreements there are certain allowed non-Opioid Remediation expenditures which require additional reporting under those agreements. Additionally, the parties acknowledge that under the National Settlement Agreements no less than eighty-five percent (85%) of the funds must be used for Opioid Remediation with at least seventy percent (70%) of funds used solely for future Opioid Remediation.
Allocation of Settlement Proceeds. Based upon discussions and consultations between the parties hereto pursuant to the Settlement Agreement, the parties decided that WRSKK shall be liable for One Hundred Towenty Five Million Japanese Yen (JPY125,000,000) of the Settlement Proceeds and the parties decided upon the following breakdown of how said portion of the Settlement Proceeds will be allocated among the following components of the settlement:
1. Value of Nissin's customer lists JPY98,000,000 2. Value of Nissin's maintenance contract lists JPY25,000,000 3. Value of Nissin's list of potential customers identified during the period from 1 January 2001 to the present JPY 2,000,000 The parties determined that the above-mentioned items were properly allocated to WRSKK, since WRSKK will be using said information in its future business endeavors. Furthermore, the parties have determined that the Japanese Consumption Tax will be imposed on said portion of the Settlement Proceeds and that WRSKK shall be responsible for paying the amount of said Consumption Tax to Nissin. WRSKK agrees that it or its designee shall make payment to Nissin without undue delay by wire transfer to an account designated by Nissin. WRSKK further agrees that it or its designee will bear the cost of the telegraphic transfer handling charges.
Allocation of Settlement Proceeds. For purposes of the allocation of the Settlement Proceeds only, Settling Supplier shall be deemed to have provided a total principal refund in the amount specified in Item 5.1(e) of the Cover Sheet (the “Settling Supplier Refunds”), which amount shall be allocated as shown in Items 5.1(a), 5.1(b), and 5.1(d) of the Cover Sheet to the Pre-January 18, 2001 Period, the Post-January 17, 2001 Period, and the Pre-October Period, respectively. Refunds associated with Settling Supplier’s short-term bilateral sales to CERS are set forth in Item 5.1(f) in the Cover Sheet. Settling Supplier does not endorse or take any position on the foregoing allocation of Settlement Proceeds, but the Agreement establishes such allocation to ensure the distribution of funds as contemplated by the California Parties.
Allocation of Settlement Proceeds. Based upon discussions between the parties regarding the customer information disclosed to WRSKK or its designee pursuant to Section 1.4 of this Agreement, the parties will decide by 27 April 2001 the particular breakdown of how the Settlement Proceeds will be allocated among the various matters (the "Final Allocation"). Furthermore, in accordance with the Final Allocation as determined hereinabove, WRSKK or its designee and Nissin by 27 April 2001 shall prepare and conclude a settlement agreement relating to the sale of Nissin's customer list, goodwill, etc. to WRSKK or its designee ("Customer List Settlement Agreement") and a settlement agreement relating to JVA and MDA termination claims, if any ("Termination Settlement Agreement"). The Settlement Proceeds payable to Nissin by WRSKK pursuant to this Agreement shall be allocated respectively to the Customer List Settlement Agreement and the Termination Settlement Agreement pursuant to the Final Allocation determined hereinabove. If the Final Allocation of Settlement Proceeds results in an increase in any governmental taxes, duties, licenses, fees, excises, or tariffs now or hereafter imposed on the payment of the Settlement Proceeds, such charges shall be paid by the party obligated by law to make such payment, or in lieu thereof, the party obligated by law to make such payment shall provide an exemption certificate acceptable to the other party and the applicable authority. If revenue stamps are required under Japanese law to be affixed to this Agreement, the parties shall be required to bear the cost of such stamps for the copy in their possession. Each party shall be responsible for all costs and expenses incurred on its behalf, including but not limited to attorneys fees, related to this Agreement and the negotiations and consultations leading up to the formation of this Agreement.
Allocation of Settlement Proceeds. Subject to the releases contained in Paragraph 15, the Parties agree that, if the Crown Parties exercise their option under Paragraph 8 above and if the Closing occurs, then no portion of the Purchase Price and no portion of the other consideration required of the Crown Parties as part of this Agreement is a payment towards the Fee Award.
Allocation of Settlement Proceeds. Based upon discussions and consultations between the parties hereto pursuant to the Settlement Agreement, the parties decided WRSI shall pay to Kobe all termination costs of ancillary agreements (JVA and MDA) in the aggregate amount of Three Million Japanese Yen (JPY3,000,000). The parties determined that such termination costs were properly allocated to WRSI, since it was WRSI's decision to terminate said JVA and MDA with Kobe. Accordingly, WRSI shall reimburse WRSKK for JPY3,000,000 of the Three Hundred Million Japanese Yen (JPY300,000,000) that WRSKK has already paid to Kobe on or about 30 March 2001.
Allocation of Settlement Proceeds. 1. The State, Litigating Political Subdivisions, and Special Districts shall divide awarded funds recovered by the State with 40% going to the Political Subdivisions, 10% going to the Special Districts, and 50% going to the State.
2. McKesson will make payment directly to the Office of the Attorney General. The Office of the Attorney General will then direct the amount of the Subdivision Share to the Receiver, which shall place those funds in trust until the Special Master provides instructions as to the allocation percentages for each Political Subdivision and Special District eligible to receive a settlement payment.
3. It is anticipated that ▇▇▇▇▇▇ ▇▇▇▇, who has been appointed by the Court as Special Master, will continue in that role and that he shall set allocation percentages with finality for all Alabama Political Subdivisions and Special Districts as defined herein that are eligible to receive an award payment. The Special Master’s allocation to the Political Subdivisions will be calculated on a pro rata basis utilizing the allocation metrics developed within MDL 2804 for purposes of illustrating how a proposed Negotiation Class would have worked in that litigation (“the MDL Calculator”) for each town, city, and county entitled to share in the Subdivision Share. The Special Master’s allocation to the Special Districts will be calculated using a methodology to be determined in the discretion of the Special Master. The Parties may not cancel or terminate this Agreement based on the Special Master’s allocation.
4. The Special Master shall provide his final recommendation to the Parties as soon as practicable.
5. Counsel for each Political Subdivision and Special District will be responsible for providing to the Receiver all necessary instructions for effectuating payment under the terms of Exhibit A, such as check or wiring instructions, signed W-9s, and any other documentation required for accounting or distribution purposes.
6. Irrespective of allocation, all Awarded funds shall be used in a manner consistent with the Approved Uses set out in Exhibit B of the Settlement Agreement, with the exception of those funds paid to counsel or otherwise required by court order to be allocated to a Common Benefit Fund.
Allocation of Settlement Proceeds. Based upon discussions and consultations between the parties hereto pursuant to the Settlement Agreement, the parties decided WRSI shall pay to Nissin all termination costs of ancillary agreements (JVA and MDA) in the aggregate amount of Ninety Five Million Japanese Yen (JPY95,000,000). The parties determined that such termination costs were properly allocated to WRSI, since it was WRSI's decision to terminate said JVA and MDA with Nissin. Accordingly, WRSI shall reimburse WRSKK for JPY95,000,000 of the Two Hundred Twenty Million Japanese Yen (JPY220,000,000) that WRSKK has already paid to Nissin on or about 30 March 2001.
Allocation of Settlement Proceeds