Common use of Cy Pres Distribution Clause in Contracts

Cy Pres Distribution. To the extent monies remain in the Fund after 120 calendar days have passed from the date on the checks mailed to Settlement Class Members, and the remaining monies in the Fund would not allow for a second distribution of at least $5 to each Settlement Class Member after deducting the costs associated with such a distribution, such money remaining in the Fund will comprise the Cy Pres Distribution. Subject to approval by the Court, the Cy Pres Distribution shall be made to the Student Loan Bankruptcy Assistance Protect. The Cy Pres Distribution shall be made 60 calendar days after the last day for Settlement Class Members to cash their Settlement Awards, subject to the terms above. To the extent a second distribution is made to Settlement Class Members, any remaining monies in the Fund after 120 calendar days have passed from the date on the checks will constitute the Cy Pres Distribution.

Cy Pres Distribution. To the extent monies remain in the Fund after 120 calendar days have passed from the date on the checks mailed to Settlement Class Members, and the remaining monies in the Fund would not allow for a second distribution of at least $5 to each Settlement Class Member after deducting the costs associated with such a distribution, such money remaining in the Fund will comprise the Cy Pres Distribution. Subject to approval by the Court, the Cy Pres Distribution shall be made to the Student Loan Bankruptcy Assistance Protect. The Cy Pres Distribution shall be made 60 calendar days after the last day for Settlement Class Members to cash their Settlement Awards, subject to the terms above. To the extent a second distribution is made to Settlement Class Members, any remaining monies in the Fund after 120 calendar days have passed from the date on the checks will constitute the Cy Pres Distribution.