Distribution Protocol Clause Samples
A Distribution Protocol clause defines the procedures and rules for distributing assets, funds, or information among parties involved in an agreement. It typically outlines the timing, method, and order of distributions, specifying who is entitled to receive what, and under what conditions. For example, it may detail how profits are shared among partners or how assets are allocated upon dissolution of a joint venture. The core function of this clause is to ensure transparency and fairness in the distribution process, minimizing disputes and providing clear guidance for all parties.
Distribution Protocol. (1) After the Effective Date, at a time wholly within the discretion of Class Counsel, but on notice to the Settling Defendants, Class Counsel will make an application seeking orders from the Courts approving the Distribution Protocol.
Distribution Protocol. (1) At a time wholly within the discretion of Class Counsel, but on notice to the Settling Defendants, Class Counsel will bring motions seeking orders from the Courts approving the Distribution Protocol. The motions can be brought before the Effective Date, but the orders approving the Distribution Protocol shall be conditional on the Effective Date occurring.
(2) The Distribution Protocol shall require Settlement Class Members seeking compensation to give credit for any compensation received through other proceedings or in private out-of-class settlements, unless by such proceedings or private out-of-class settlements the Settlement Class Member’s claim was released in its entirety, in which case the Settlement Class Member shall be deemed ineligible for any further compensation.
Distribution Protocol. (1) After the Effective Date, at a time wholly within the discretion of Class Counsel, but on notice to the Settling Defendants, Class Counsel will make an application seeking orders from the Courts approving the Distribution Protocol.
(2) The Distribution Protocol shall require Settlement Class Members seeking compensation to give credit for any compensation received through other proceedings or in out-of-class settlements, unless by such proceedings or out-of-class settlements the Settlement Class Member’s claim was released in its entirety, in which case the Settlement Class Member shall be deemed ineligible for any further compensation.
Distribution Protocol. (1) After the Effective Date, at a time wholly within the discretion of Class Counsel, but on notice to the Settling Defendants, Class Counsel will make an application seeking orders from the Ontario and Quebec Courts approving the Distribution Protocol.
Distribution Protocol. (1) At a time wholly within the discretion of Class Counsel, but on notice to the Settling Defendants, Class Counsel will bring motions seeking orders from the Courts approving the Distribution Protocol. The motions can be brought before the Effective Date, but the orders approving the Distribution Protocol shall be conditional on the Effective Date occurring.
(2) The Distribution Protocol shall require Settlement Class Members seeking compensation to give credit for any compensation received through other proceedings or in private out-of-class settlements, unless by such proceedings or private out-of-class settlements the Settlement Class Member’s claim was released in its entirety, in which case the Settlement Class Member shall be deemed ineligible for any further compensation.
(3) In addition, the Distribution Protocol shall treat residents of Quebec in the equivalent manner to residents elsewhere in Canada and must comply with the requirements of Quebec law, including in respect of remittances to the Fonds d’Aide aux actions collectives and in case of any remaining balance to be allocated cy pres to one or more recipients to be approved by the Ontario Court, The Act Respecting the Fonds d'aide aux actions collectives, CQLR c F-3.
2.0.1.1 will apply to the portion of any remaining balance, if any, attributable to Quebec Class Members.
(4) The notice advising Settlement Class Members of the hearing to approve the Distribution Protocol must provide that Quebec residents wishing to object to the Distribution Protocol will be permitted to present submissions on the Distribution Protocol before the competent Court(s) and inform them of the procedure to do so.
Distribution Protocol. The Distribution Protocol is part of this Settlement Agreement and will be subject to approval by the Court, as part of the application seeking Court approval of this Settlement Agreement (the Second Order). The Distribution Protocol is set out at Schedule D hereto.
Distribution Protocol. At the same time as the motion for certification and settlement approval, Class Counsel will seek a Court order for approval of the Distribution Protocol. The Distribution Protocol is set out at Schedule B hereto.
Distribution Protocol. (1) At a time wholly within the discretion of Class Counsel, Class Counsel will seek orders from the Courts approving the Distribution Protocol.
Distribution Protocol. (1) After the Effective Date, at a time within the discretion of the Plaintiffs, but on notice to the Settling Defendants, the Plaintiffs will seek orders from the Courts approving a Distribution Protocol.
(2) The Plaintiffs acknowledge that the Settling Defendants have an interest in protecting their respective brands and addressing operational impacts on their businesses, and for this purpose, at least thirty days in advance of the motions referred to in section 4.1(1), Class Counsel shall provide the Settling Defendants with an opportunity to review and provide input into the Notices of Application (or the equivalent) and any supporting materials which are intended to be filed with the Courts in support of those motions. However, the Parties acknowledge and agree that the Settling Defendants will not comment on the proposed allocation of settlement proceeds as between Merchants or groups of Merchants, and that the Plaintiffs reserve the right to challenge the standing of the Settling Defendants to make submissions in respect of the Distribution Protocol, save and except for the limited purpose of protecting their individual brands or addressing operational impacts on their issuing businesses in respect of all the Settling Defendants and its acquiring business in respect of TD.
Distribution Protocol. If the Settlement Agreement is approved by the Courts, the Settlement Amount, after deduction of Class Counsel Fees and Administration Expenses (the “Net Settlement Amount”) will be distributed to Class Members in accordance with the Distribution Protocol, subject to the Courts’ approval. The Settlement provides that to qualify for compensation, Class Members will be required to submit a properly completed Claim Form to the Administrator within the time prescribed by the Courts. Each Class Member who submits a valid and timely Claim Form will be entitled to receive compensation calculated in accordance with the Distribution Protocol. If the Settlement is approved by the Courts, a further notice will be published which will include instructions on how Class Members can file their Claim Forms and the deadline for doing so. The proposed Distribution Protocol provides that in order to determine the individual entitlements of Class Members who make claims, the losses of each claimant will be calculated in accordance with a formula based on the statutory damages provisions contained in the securities legislation of Ontario and Québec. Once the notional losses of all Class Members who have filed valid claims have been calculated, the Net Settlement Amount will be allocated to those Class Members in proportion to their percentage of the total notional losses calculated for all valid claims filed. Because the Net Settlement Amount will be distributed pro rata, it is not possible to estimate the individual recovery of any individual Class Member until all the claims have been received and reviewed.