Common use of Distribution of Net Settlement Fund Clause in Contracts

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.