DISTRIBUTION OF THE SETTLEMENT AMOUNT Clause Samples
The "Distribution of the Settlement Amount" clause defines how the total settlement funds will be allocated among the parties involved in a legal dispute. It typically outlines the method for dividing the settlement, such as specifying percentages or fixed amounts for each claimant, and may address the order of payments, deductions for legal fees, or reimbursement of costs. This clause ensures transparency and fairness in the disbursement process, preventing disputes over payment and clarifying each party's entitlement to the settlement proceeds.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) On or after the Effective Date, the Administrator shall distribute the remainder of the Settlement Amount in accordance with the following priorities:
(a) to pay Class Counsel Fees as approved by the Courts;
(b) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of notices, locating Class Members for the sole purpose of providing notice to them, soliciting Class Members to submit a Claim Form, including the notice expenses reasonably and actually incurred by the Administrator and brokerage firms in connection with the provision of notice of this Settlement to Class Members (provided, however, that the Administrator shall not pay in excess of ten thousand Canadian dollars ($10,000.00) in the aggregate to all brokerage firms and, if the aggregate amount claimed by such brokerage firms exceeds ten thousand Canadian dollars ($10,000.00), then the Administrator shall distribute the sum of ten thousand Canadian dollars ($10,000.00) to such brokerage firms on a pro rata basis). The Releasees are specifically excluded from eligibility for any payment of notice expenses under this subsection;
(c) to pay all of the Administration Expenses. For greater certainty, the Releasees are specifically excluded from eligibility for any payment of costs and expenses under this subsection;
(d) to pay any taxes required by law to be paid to any governmental authority;
(e) to pay any amounts due to Fonds d’aide aux recours collectif in Québec;
(f) to pay a pro rata share of the balance of the Escrow Settlement Amount to each Authorized Claimant in accordance with the Plan of Allocation; and
(g) if necessary, to make any cy près distribution as contemplated herein.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) On or after the Implementation Date, the Administrator shall distribute the remainder of the Escrow Settlement Funds in accordance with the following priorities:
(a) to pay Class Counsel Fees as awarded by the Court (unless the Class Counsel Fees have already been paid to Class Counsel in accordance with section 4.2(2));
(b) to pay any honorarium to the Plaintiffs as the Court may decide to award;
(c) to pay the Funding Commission to the Funder;
(d) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of the Second Notice;
(e) to pay all of the Administration Expenses. For greater certainty, the Defendants and the Class are specifically excluded from eligibility for any payment of costs and expenses under this subsection;
(f) to pay any taxes required by law to be paid to any governmental authority;
(g) to pay a pro rata share of the balance of the Escrow Settlement Funds to each Authorized Claimant in proportion to his, her or its claim as recognized in accordance with the Distribution Protocol; and
(h) as directed by the Court, on the recommendation of Class Counsel, in the event that there shall remain thereafter Escrow Settlement Funds that are insufficient to allocate to each Authorized Claimant in accordance with the Distribution Protocol.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. On or after the Implementation Date, the Administrator shall distribute the Settlement Amount in accordance with the following priorities:
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) On or after the Effective Date, the Administrator shall distribute the Net Settlement Amount in accordance with the following priorities:
(a) to pay Class Counsel Fees as awarded by the Courts;
(b) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of the Second Notice;
(c) to pay all of the Administration Expenses. For greater certainty, the Defendants and the Class are specifically excluded from eligibility for any payment of costs and expenses under this subsection;
(d) to pay any taxes required by law to be paid to any governmental authority; and
(e) to pay a pro rata share of the balance of the Settlement to each Authorized Claimant in proportion to his, her or its claim as recognized in accordance with the Distribution Protocol.
(2) Class Counsel shall propose for approval by the Courts a Distribution Protocol in the form attached as Schedule “J” or such other form as Class Counsel may advise. The approval of the Distribution Protocol may be considered separately from the approval of the Settlement and is not a condition of the approval of the Settlement itself.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. Pursuant to the terms and conditions of the Settlement Agreement, the Defendants shall pay:
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) If and when the Settlement becomes final as contemplated by section 12, the Administrator shall distribute the Escrow Settlement Amount in the manner set out in the Settlement Agreement and in the Plan.
(2) If and when the Settlement becomes final as contemplated by section 12, the Escrow Settlement Amount shall be applied and distributed in accordance with the following priorities:
(a) to pay Class Counsel Fees;
(b) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of notices, locating Class Members for the sole purpose of providing notice to them, soliciting Class Members to submit a Claim Form, including the notice expenses reasonably and actually incurred by Broadridge Financial Solutions Inc. in connection with the provision of notice of this Settlement to Class Members. The Defendants are specifically excluded from eligibility for any payment of notice expenses under this subsection;
(c) to pay all of the costs and expenses reasonably and actually incurred by the Administrator and the Referee, relating to determining eligibility, the filing of Claim Forms and Opt-Out Forms, processing Claim Forms and Opt-Out Forms, resolving disputes arising from the processing of Claim Forms and Opt-Out Forms; administering and distributing the Settlement Amount;
(d) to pay any taxes required by law to be paid to any governmental authority; and
(e) to pay a pro rata share of the balance of the Escrow Settlement Amount to each Authorized Claimant in proportion to his/her/its claim as recognized in accordance with the Plan.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. As part of Plaintiffs' motion for final approval, Class Counsel will submit an application for an Attorneys' Fees Award not to exceed 30 percent of the Common Fund Payment, an application for a Costs Payment not to exceed $18,000, an application for a Settlement Administration Expenses Award not to exceed $18,500, and an application for Service Awards of $12,000 for Plaintiff Dick and $6,000 for Plaintiff Hand. The amounts approved by the Court will be deducted from the $3,500,000.00 Settlement Amount, and the remainder after these deductions (the ''Net Settlement Fund") shall be available to fund Settlement Awards to Qualified Class Members. If the Court approves the payments in each category described above, the Net Settlement Fund is expected to be no less than $2,390,500, calculated as follows: $1,050,000 Attorneys' Fees Award (30 percent of Common Fund Payment) $18,000 Costs Payment $18,500 Settlement Administration Expenses Award $18,000 Service Award_s - $5,000
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) On or after the Effective Date, the Administrator shall distribute the Settlement Amount in accordance with the following priorities:
i. to pay Class Counsel Fees to ▇▇▇▇▇▇ ▇▇▇▇▇▇ as awarded by the Court;
ii. to pay all of the costs and expenses reasonably incurred in connection with the provision of the Approved Settlement Notice;
iii. to pay all of the Administration Expenses. For greater certainty, the Defendants and the Class or Class Counsel are specifically excluded from being required to pay any costs and expenses under this subsection. All such notice costs shall be paid from the Settlement Amount;
iv. to pay any taxes required by law to any governmental authority;
v. to pay the Class Proceedings Fund levy as prescribed by Section 10 of the Class Proceedings regulation under the Law Society Act;
vi. to pay a pro rata share of the Net Settlement Amount to each Eligible Claimant in proportion to their claim as recognized in accordance with the Distribution Protocol.
(2) Class Counsel shall propose for approval by the Court a Distribution Protocol in the form attached as Schedule “D” or such other form as Class Counsel may advise.
DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) From each Settlement Payment (First and Second), on or after the Effective Date, the Claims Administrator shall distribute the Net Settlement Amount to the Settling Claimants and Provincial Health Insurers in accordance with the Compensation Protocol, after payment of the following:
(a) Class Counsel Legal Fees, as approved by the Ontario Court;
(b) all of the costs and expenses reasonably and actually incurred in connection with the provision of Settlement Approval Notice in accordance with the Notice Plan;
(c) any remaining Claims Administration Costs, including the professional fees of the Claims Administrator; and
(d) any taxes required by law to be paid to any governmental authority.
(2) Payments made to the Provincial Health Insurers shall be in full and final satisfaction of all Provincial Health Insurer Rights of Recovery they may have in relation to Settling Claimants’ implantation with a BSC Transvaginal Mesh device, for the costs of services, pursuant to the legislation of each jurisdiction, whether already provided or to be provided to Settling Claimants.
(3) In order to receive a payment, a Provincial Health Insurer must execute the Provincial Health Insurer Release.
DISTRIBUTION OF THE SETTLEMENT AMOUNT.
(1) In conjunction with the Phase II Motion (Settlement Approval), Class Counsel will seek an order from the Court as to the distribution of the Escrow Settlement Amount in accordance with the Plan of Distribution. Such distribution shall be net of any Court-approved deductions including Class Counsel Fees and Administration Expenses.