Distribution of Payments to Plaintiffs Clause Samples

Distribution of Payments to Plaintiffs i. Payments to Plaintiffs will be made from the Net Settlement Fund. ii. The Pre-Mediation Settling Collective Action Members shall receive from the Gross Settlement Fund, the amounts offered by Defendant, and accepted by them prior to the mediation, in the total amount of $35,250.92. The individual amounts allocated to each is set forth in Exhibit E to this Agreement. iii. The Total Gross IL Class Members Fund amount allocated from the Gross Settlement Fund shall be the amount of $70,000. The IL Class Members who do not timely opt-out shall receive, from the Net Settlement Fund, a pro-rata share of the amount of the Total Gross IL Class Members Fund amount remaining after payment of $23,333.33 for one-third attorneys’ fees and deduction of an approximate pro rata amount as reasonably estimated by the Administrator for the pro rata share of costs expenses, and service payments attributable to the Total Gross IL Class Members Fund amount, determined based on the number of weeks during the Class Period worked by each IL Class Member as set forth in Defendants’ payroll data as reported prior to the mediation, exclusive of weeks released by the prior ▇▇▇▇ settlement (the “eligible weeks”),which weeks the Parties agree shall be final and controlling with respect to Individual Settlement Amount calculations. The Individual Settlement Amount for each IL Class Member shall be determined as follows, except as adjusted so that no IL Class Member shall receive less than $250.00: (a) Total eligible weeks worked by each IL Class Member during the Class Period shall be identified. (b) The aggregate number of eligible weeks worked recorded by all IL Class Member during the Class Period shall be identified. (c) The number of eligible weeks worked recorded for each individual IL Class Member as a percentage of the total aggregate eligible weeks worked shall be identified. (d) Each IL Class Member will be allocated a pro-rata share of the Net Settlement Fund based on the percentage of the eligible weeks worked from the aggregate number of eligible weeks worked for the IL Class Members. (e) 50% of the individual amount allocated to each IL Class Member shall be deemed consideration for release of FLSA claims and 50% for release of IL state law claims; accordingly should any IL Class Member comply with the requirements for forfeiting their FLSA Payment or fail to deposit or otherwise endorse their individual settlement check bearing endorsement language requiring opt-in accep...
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Related to Distribution of Payments to Plaintiffs

  • Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.

  • Allocation of Payments The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Application of Payments to Principal and Interest All payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal.

  • Application and Allocation of Payments (a) So long as no Event of Default has occurred and is continuing, (i) payments of regularly scheduled payments then due shall be applied to those scheduled payments, (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.3(a), and (iii) mandatory prepayments shall be applied as set forth in Section 2.3(c). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to all payments made when an Event of Default has occurred and is continuing or following the Commitment Termination Date, each Borrower hereby irrevocably waives the right to direct the application of any and all payments received from or on behalf of such Borrower. All voluntary prepayments shall be applied as directed by Borrower Representative. In all circumstances after an Event of Default, subject to the ABL Intercreditor Agreement, all payments and proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Fees and Agent’s and Co-Collateral Agents’ expenses reimbursable hereunder and to all obligations owing to Agent, any Co-Collateral Agent, Swing Line Lender, any L/C Issuer or any other Lender by any Non-Funding Lender under the Loan Documents; (2) to interest on the Swing Line Loans; (3) to principal payments on the Swing Line Loans; (4) to interest on the other Loans, ratably in proportion to the interest accrued as to each Loan; (5) to principal payments on the other Loans (or cash collateral with respect to the Letter of Credit Obligations), ratably in proportion to the principal balance of such Loan and the Letter of Credit Obligations; (6) to the payment of the Bank Products Obligations then due and payable; and (7) to all other Obligations, including expenses of Lenders to the extent reimbursable under Section 12.3. (b) Agent is authorized to, and at its sole election may, upon prior notice to Borrower Representative charge to the Revolving Loan balance on behalf of each U.S. Borrower or Canadian Borrower, as the case may be, and cause to be paid all Fees, expenses, costs (including, insurance premiums in accordance with Section 6.4(a)) and interest and principal, other than principal of the Revolving Loan, owing by such Borrowers under this Agreement or any of the other Loan Documents, if and to the extent such Borrowers fail to pay promptly any such amounts as and when due, even if the amount of such charges would exceed Availability at such time or would cause the balance of the Revolving Loan and the Swing Line Loan to exceed the Borrowing Base after giving effect to such charges (provided, any such Overadvance shall be subject to the cure period with respect to fees as set forth in Section 9.1(a)(ii)). At Agent’s option, and to the extent permitted by law, any charges so made shall constitute part of the Revolving Loan hereunder. (c) This Section 2.9 is subject in its entirety to the provisions of Section 13.9 hereof.

  • Redistribution of payments The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Finance Party) in accordance with Clause 29.5 (Partial payments).