Distribution of Net Settlement Fund Clause Samples

Distribution of Net Settlement Fund. The Net Settlement Fund shall be distributed in accordance with the Distribution Plan that is approved by the Court.

Distribution of Net Settlement Fund. 148. As soon as practicable, but in no event sooner than 30 days from the Effective Date, TD Bank and the Settlement Administrator shall distribute the Net Settlement Fund as set forth in this Section XII. 149. The Net Settlement Fund is equal to the Settlement Payment Amount plus any interest earned from the Instruments, less the following: a. the amount of the Court-awarded attorneys’ fees, costs, and expenses to Class Counsel; b. the amount of the Court-awarded Service Awards to the Plaintiffs; c. the costs of Notice and administration of the Settlement, including a reservation of a reasonable amount of funds for prospective costs of Notice and administration of the Settlement including tax administration as agreed upon by Settlement Class Counsel and TD Bank; and d. all other costs and/or expenses incurred in connection with the Settlement not specifically enumerated in subsections (a) through (c) of this paragraph that are expressly provided for in this Agreement or have been approved by Settlement Class Counsel and TD Bank. 150. Every Settlement Class Member shall be paid from the Net Settlement Fund the Total Settlement Payment Amount to which he or she is entitled, calculated as set forth in paragraphs 142 and 143 above (“Settlement Fund Payments”). In no event, however, shall TD Bank be required to pay more than a total of Forty Three Million and 00/100 Dollars ($43,000,000.00) to satisfy its monetary obligations under this Settlement (exclusive of the costs of CAFA notice and implementation of account credits as provided in paragraphs 151 and 152 of this Agreement).

Distribution of Net Settlement Fund. 90. As soon as practicable, but in no event sooner than thirty (30) days from the Effective Date, the Settlement Administrator shall distribute the Net Settlement Fund as set forth in this Section XIII. 91. The Net Settlement Fund is equal to the Settlement Payment Amount plus any interest earned from the Instruments, less the following: a. The amount of the Court-awarded attorneys’ fees, costs, and expenses to Class Counsel; b. The amount of the Court-awarded Service Awards to Plaintiffs; c. The costs of Notice and administration of the Settlement, including a reservation of a reasonable amount of funds for prospective costs of the Notice Program, and administration of the Settlement including tax administration as agreed upon by Class Counsel and TD Bank; and d. All other costs and/or expenses incurred in connection with the Settlement not specifically enumerated in subsections (a) through (c) of this paragraph that are expressly provided for in this Agreement or have been approved by Class Counsel and TD Bank. 92. Every Participating Settlement Class Member shall be paid from the Net Settlement Fund the portion of the Settlement Payment Amount to which he or she is entitled, calculated as set forth in Section XII (“Settlement Fund Payments”). In no event, however, shall TD Bank be required to pay more than a total of Two Million Two Hundred Fifty Thousand and 00/100 Dollars ($2,250,000.00) to satisfy its monetary obligations under this Settlement. 93. Settlement Fund Payments will be made by checks with appropriate legends, in a form approved by Class Counsel and TD Bank, to indicate that they are from the Settlement Fund. Prior to mailing Settlement Fund Payment checks, the Settlement Administrator shall attempt to update the last known addresses of the Participating Settlement Class Members through the National Change of Address Database or similar databases. The Settlement Administrator shall not mail Settlement Fund Payment checks to addresses from which Notices were returned as undeliverable. Checks will be cut and mailed by the Settlement Administrator, and will be sent to the addresses that the Settlement Administrator identifies as valid. Checks shall be valid for one hundred and eighty (180) days after issuance. 94. The Settlement Administrator will make reasonable efforts to locate the proper address for any intended recipient of Settlement Funds whose check is returned as undeliverable, and will re-mail it once to the updated address. Settlem...

Distribution of Net Settlement Fund. Upon the Effective Date and thereafter, and in accordance with the terms of this Agreement, the Distribution Plan, or any order(s) of the Court as may be necessary or as circumstances may require, the Net Settlement Fund shall be distributed to Authorized Claimants, subject to and in accordance with the following: 18.1. Each Class Member who claims to be an Authorized Claimant shall be required to submit to the Claims Administrator a verified completed Proof of Claim and Release supported by such documents as specified in the Proof of Claim and Release and as are reasonably available to such Class Member; 18.2. Except as otherwise ordered by the Court, each Class Member who fails to submit a Proof of Claim and Release within such period as may be ordered by the Court, or otherwise allowed, shall be forever barred from receiving any payments pursuant to this Agreement and the Settlement set forth herein, but shall in all other respects be subject to and bound by the provisions of this Agreement, the releases contained in this Agreement, and the Judgment; 18.3. The Net Settlement Fund shall be distributed to Authorized Claimants and, in no event, shall there be any reversion to Barclays. The distribution to Authorized Claimants shall be substantially in accordance with the Distribution Plan to be approved by the Court upon such further notice to the Class as may be required. Any such Distribution Plan is not a part of this Agreement. No funds from the Net Settlement Fund shall be distributed to Authorized Claimants until the Effective Date; and 18.4. Each Class Member shall be subject to and bound by the provisions of this Agreement, the releases contained herein, and the Judgment, regardless of whether such Class Member seeks or obtains by any means, including, without limitation, by submitting a Proof of Claim and Release or any similar document, any distribution from the Net Settlement Fund.

Distribution of Net Settlement Fund. 70. Within 7 days after Final Approval, the Settlement Administrator shall identify to Navy Federal the full amount of Settlement Class Member Payments, along with the amount of each Settlement Class Member’s Payment to be credited to Current Account Holders’ Accounts, as well as the remaining amount of the $16,000,000.00 Settlement Fund that shall be paid by Navy Federal into the Escrow Account. 71. Within 15 days after Final Approval if there are no objections to the Settlement or 10 days after the Effective Date if there are objections or an appeal, Navy Federal shall wire to the Escrow Account the remainder of the $16,000,000.00 Settlement Fund. 72. Within 30 days after the Effective Date, Navy Federal shall deposit the Settlement Class Member Payments into Current Account Holders’ Accounts. 73. Within 30 days after the Effective Date, the Settlement Administrator shall pay from the Escrow Account Former Account Holders their Settlement Class Member Payments by check.

Distribution of Net Settlement Fund. The Settlement Administrator shall distribute the Net Settlement Fund to Class Members in accordance with the Plan of Allocation as described in Article V herein. Subject to at least forty (40) calendar days’ written notice from the Settlement Administrator, the Company shall use reasonable efforts to cause the Plan’s recordkeeper (or its designee) to provide an updated list of Active Participants and Inactive Participants prior to the distribution, so as to identify any such participants who have taken a full distribution from their Plan account and no longer have a Plan account with a balance greater than $0.00.

Distribution of Net Settlement Fund. 15. A proposed Distribution Plan of the Net Settlement Fund, to be approved by the Court, is attached as Exhibit 4. 16. Within thirty five (35) days of the Effective Date, the Settlement Administrator shall mail Settlement Checks from the Net Settlement Fund, in accordance with the Distribution Plan as approved by the Court, to the Class Members who have not excluded themselves from the Class, without any claim forms or process. 17. Class Members who receive a Settlement Check shall have 180 calendar days from the date of their Settlement Check to cash their Settlement Checks. Settlement Class members who have misplaced or otherwise lost a Settlement Check may request that a new check be issued to them by making a written request to the Settlement Administrator sent by mail to the Settlement Administrator’s address. To be valid, a request for a replacement check must be in writing and must be postmarked within 180 calendar days of the original date of the Settlement Check. A Class Member’s late request for a replacement check shall be void and ineffective, but the Agreement nevertheless will be binding upon that Class Member. 18. Settlement Checks that are not cashed within 180 days after mailing of the initial check (or 60 days after mailing of a replacement check) will be void and a stop payment will be placed on the Settlement Checks. Those who fail to timely cash their Settlement Checks will be still be bound by this Agreement. 19. The amounts of the uncashed Settlement Checks will be sent to the State Controller’s Office under the Unclaimed Property Law Statutes. No later than 210 calendar days after the Settlement Administrator’s mailing of the Settlement Checks to Class Members, the Parties shall report to the Court the total amount that was actually paid to Class Members. In no circumstances will any of the amounts to have been paid to any Class Member under this Agreement be retained by, or revert to, Blue Shield.

Distribution of Net Settlement Fund. As soon as practicable but no later than sixty (60) days from the Effective Date, BancorpSouth and the Settlement Administrator shall distribute the Net Settlement Fund as set forth in this Section XII. Each Settlement Class Member who had a Differential Overdraft Fee and has not opted out as provided herein shall receive a distribution in the amount of a pro rata share of the Net Settlement Fund.

Distribution of Net Settlement Fund. Upon the Effective Date and thereafter, and 2 in accordance with the terms of this Agreement, the Distribution Plan and such further approval 3 and further order(s) of the Court as may be necessary or as circumstances may require, the Net 4 Settlement Fund shall be distributed to Authorized Claimants, subject to and in accordance with the 5 following: (a) Each member of the Classes who claims to be an Authorized Claimant shall 7 be required to submit to the Notice and Claims Administrator a completed 8 Proof of Claim and Release in such form as shall be approved by the Court;