Common use of Distribution of Settlement Payments Clause in Contracts

Distribution of Settlement Payments. When and if the Court enters the Final Order and Judgment approving the Settlement, and the Effective Date has passed, the Settlement Administrator shall prepare a final list of all Qualified Claimants. The Settlement Administrator shall provide this list to Pepperidge Farm within 5 days after the Effective Date. For each Qualified Claimant on this list, the Settlement Administrator will calculate the amounts due to each Qualified Claimant and issue checks payable to said Qualified Claimants. All settlement payments to Named Plaintiffs and Qualified Claimants shall be reported on an IRS 1099 without withholdings. Named Plaintiffs and Qualified Claimants must pay their own portion of taxes on the settlement payments. Named Plaintiffs and Qualified Claimants shall be exclusively liable for any and all tax liability, and will indemnify Pepperidge Farm for any and all claims, damages, costs, and expenses (including reasonable attorneys ‘fees) arising from their failure to pay any and all taxes they owe as a result of the settlement payments they receive. The Service Enhancements to the Named Plaintiffs shall be reported on an IRS 1099 without withholdings. Named Plaintiffs must pay their own portion of taxes on the Service Enhancements.

Distribution of Settlement Payments. When and if the Court enters the Final Order and Judgment approving the Settlement, and the Effective Date has passed, the Settlement Administrator shall prepare a final list of all Qualified ClaimantsClaimants and of the Named Plaintiffs. The Settlement Administrator shall provide this list to Pepperidge Farm within 5 days after the Effective Date. For each Qualified Claimant and Named Plaintiff on this list, the Settlement Administrator will calculate the amounts due to each the Qualified Claimant or Named Plaintiff and issue checks payable to said Qualified Claimantshim/her/it. All settlement payments to Named Plaintiffs and Qualified Claimants shall be reported on an IRS 1099 without withholdings. Named Plaintiffs and Qualified Claimants must pay their own portion of taxes on the settlement payments. Named Plaintiffs and Qualified Claimants shall be exclusively liable for any and all tax liability, and will indemnify Pepperidge Farm for any and all claims, damages, costs, and expenses (including reasonable attorneys ‘fees) arising from their failure to pay any and all taxes they owe as a result of the settlement payments they receive. The Service Enhancements to the Named Plaintiffs shall be reported on an IRS 1099 without withholdings. Named Plaintiffs must pay their own portion of taxes on the Service Enhancements.. Section 22 of the Agreement is amended to read: