Consideration for Settlement and Class Payments Clause Samples

The "Consideration for Settlement and Class Payments" clause defines the compensation or benefits that will be provided to class members as part of a settlement agreement. It typically outlines the total amount to be paid by the defendant, the method of distribution among eligible class members, and any conditions or procedures for claiming payment. This clause ensures that all parties understand the financial terms of the settlement and provides a clear mechanism for distributing settlement funds, thereby promoting fairness and transparency in resolving class action disputes.
Consideration for Settlement and Class Payments. 1. Subject to the terms of this Settlement Agreement, Apple’s total financial commitment under this Settlement Agreement is the Gross Settlement Amount of $95,000,000.00. Apple shall have no other financial obligations under this Settlement Agreement. 2. Within 30 days after an order granting Preliminary Approval of this Settlement, Apple shall transfer an amount sufficient to cover the Settlement Administrator’s estimated cost for Notice and administration to the Settlement Administrator. Within 5 days of the Effective Date, Apple shall transfer the balance of the $95,000,000 to the Settlement Administrator for distribution of the Settlement fund and any Attorneys’ Fees and Expenses Payment, Service Award, or further administrative costs, provided there are no appeals that delay the Effective Date from occurring. If an appeal is filed to challenge final approval, Apple shall transfer the balance of the $95,000,000 to the Settlement Administrator within 30 days of the Effective Date. The Settlement Administrator will thereafter manage distribution of the Settlement fund. Any taxes owed by the Settlement fund will be paid by the Settlement Administrator out of the Settlement fund. If final approval is not granted for any reason, the balance of the Settlement fund account, less monies expended toward Settlement administration, shall be returned to Apple within 10 business days. 3. The Gross Settlement Amount shall be applied as follows: a. To pay the costs of Notice and the costs of administering the Settlement and any taxes owed by the Settlement fund, as set forth in Section F below; b. To pay any approved Attorneys’ Fees and Expenses Payment to Plaintiffs’ Counsel and any Service Award to the Class Representatives, as set forth in Section G below; c. To distribute the Net Settlement Amount to Settlement Class Members as set forth in Sections B.4–B.7 below.
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Consideration for Settlement and Class Payments. 1. Apple’s total financial commitment under this Agreement shall be $20,000,000.00. Within 60 days after an order granting preliminary approval of this Settlement, Apple shall transfer $20,000,000.00 into an account established by the Settlement Administrator for the Settlement Fund. The Settlement Administrator shall agree to hold the Settlement Fund in an interest-bearing account and administer the Settlement Fund, subject to the continuing jurisdiction of the Court and from the earliest possible date, as a qualified settlement fund as defined in Treasury Regulation § 1.468B-1 et seq. The Settlement Administrator will thereafter manage distribution of the Settlement Fund. Any taxes owed by the Settlement Fund will be paid by the Settlement Administrator out of the Settlement Fund, and interest earned on the balance of the account will accrue to the Settlement Fund. 2. The Settlement Fund shall be applied as follows: a. To pay the costs of notice and the costs of administering the Settlement, as set forth in Section F below; b. to pay any approved Attorneys’ Fees and Expense Payment to Class Counsel and any Service Award to the Class Representatives, as set forth in Section G below; c. to distribute the Net Settlement Fund to Settlement Class Members as set forth in Sections B.3 and B.4 below. 3. The Net Settlement Fund will be distributed according to the following Plan of Allocation. Settlement Class Members will be given the option of providing information to the Settlement Administrator to receive the Class Payment by physical check, electronic check, Automated Clearing House (“ACH,” a/k/a direct deposit), or a virtual prepaid Visa or MasterCard. Settlement Class Members who have not selected a payment method by the Response Deadline and for whom valid, current payment information can be confirmed will receive a direct payment. The direct payment will be provided via electronic payment for Settlement Class Members for whom the Settlement Administrator has a valid, current email address, and by physical check for Settlement Class Members for whom the Settlement Administrator does not have sufficient information to make an electronic payment but has a valid, current mailing address.
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Consideration for Settlement and Class Payments. 1. Apple’s total financial commitment under this Agreement shall be $35,000,000.00. Within 45 days after an order granting preliminary approval of this Settlement, Apple shall transfer $35,000,000.00 into the Escrow Account established by the Settlement Administrator for the Settlement Fund. The Settlement Administrator shall agree to hold the Settlement Fund in an interest bearing account and administer the Settlement Fund, subject to the continuing jurisdiction of the Court and from the earliest possible date, as a qualified settlement fund as defined in Treasury Regulation § 1.468B-1 et seq. The Settlement Administrator will thereafter manage distribution of the Settlement Fund. Any taxes owed by the Settlement Fund will be paid by the Settlement Administrator out of the Settlement Fund, and interest earned on the balance of the account will accrue to the Settlement Fund. 2. The Settlement Fund shall be applied as follows: a. To pay the costs of notice and the costs of administering the Settlement, as set forth in Section F below; b. to pay any approved Attorneys’ Fees and Expense Award to Class Counsel and any Service Award to the Class Representatives, as set forth in Section G below; c. to distribute the Net Settlement Fund to Settlement Class Members as set forth in Section B.4 below. 3. The Net Settlement Fund will be distributed according to the following Plan of Allocation. OOP Payees who provide payment information will each receive an equal payment of at least $50 and no more than $349. Complainants who provide payment information will each receive an equal payment of up to $125, but in any event no higher than 75% of the payment amount paid to OOP Payees. Depending on the number of Settlement Class Members who provide payment information, this allocation is subject to modification by agreement of the Parties without further notice to members of the Settlement Class, provided any such modification is approved by the Court. Any such modification will, to the extent practicable, maintain the ratio of payment amounts to Complainants as compared to payment amounts to OOP Payees. 4. Settlement Class Members will be required to provide their payment information by the Response Deadline as a condition of receiving payment under the Settlement. Settlement Class Members may elect to receive their payment by physical check, electronic check, Automated Clearing House (“ACH,” a/k/a direct deposit). For those Settlement Class Members who provide their payme...
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Consideration for Settlement and Class Payments. 1.1 Subject to the terms of this Agreement, Poppi’s total financial commitment under this Agreement shall not exceed the Gross Settlement Amount of $8,900,000.00. Poppi shall have no other financial obligations under this Agreement. Poppi shall pay a deposit for the initial Administrative and Notice Costs from the Gross Settlement Amount into the Settlement Fund within seven (7) days of a grant of Preliminary Approval for payment of claims administration expenses. The remainder of the Gross Settlement Payment shall be paid within fifteen (15) days of the Effective Date. The Settlement Fund shall be maintained as a qualified settlement fund pursuant to 26 CFR 1.468B-1 et seq., in an interest-bearing account at a financial institution approved by Class Counsel and subject to the oversight of the Settlement Administrator.
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Consideration for Settlement and Class Payments. 2.1 Subject to the terms of this Agreement, Apple’s total financial commitment under this agreement shall not exceed the Gross Settlement Amount of $14,800,000.00. Apple shall have no other financial obligations under this Agreement.
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Consideration for Settlement and Class Payments 
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Related to Consideration for Settlement and Class Payments

  • PAYMENT AND SETTLEMENT You shall deliver to the Manager on the date and at the place and time specified in the applicable AAU (or on such later date and at such place and time as may be specified by the Manager in a subsequent Wire) the funds specified in the applicable AAU, payable to the order of ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Inc., for (i) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of the Firm Securities to be purchased by you, (ii) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of such of the Firm Securities to be purchased by you as shall have been retained by or released to you for direct sale as contemplated by Section 3.6 hereof or (iii) the amount set forth or indicated in the applicable AAU, as the Manager shall advise. You shall make similar payment as the Manager may direct for Additional Securities, if any, to be purchased by you on the date specified by the Manager for such payment. The Manager will make payment to the Issuer or Seller against delivery to the Manager for your account of the Securities to be purchased by you, and the Manager will deliver to you the Securities paid for by you which shall have been retained by or released to you for direct sale. If the Manager determines that transactions in the Securities are to be settled through the facilities of DTC or other clearinghouse facility, payment for and delivery of Securities purchased by you shall be made through such facilities, if you are a member, or, if you are not a member, settlement shall be made through your ordinary correspondent who is a member.

  • 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.

  • Contractual Settlement and Income The Custodian may, as a matter of bookkeeping convenience, credit the Account with the proceeds from the sale, redemption or other disposition of Securities or interest, dividends or other distributions payable on Securities prior to its actual receipt of final payment therefor. All such credits shall be conditional until the Custodian’s actual receipt of final payment and may be reversed by the Custodian to the extent that final payment is not received. Payment with respect to a transaction will not be “final” until the Custodian shall have received immediately available funds that under applicable local law, rule or practice are irreversible and not subject to any security interest, levy or other encumbrance, and that are specifically applicable to such transaction.

  • 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.

  • The Settlement Benefits What does the Settlement provide?