Final Calculation and Cy-Près Distribution Sample Clauses

Final Calculation and Cy-Près Distribution. ‌ (1) Settlement cheques issued by the Defendant that are not deliverable to or cashed by a Claimant(s) or which are not cashed by a Claimant within six (6) months of issuance will become stale-dated, ineligible for redemption, and shall not be reissued. (2) Forthwith after the date on which all uncashed settlement cheques have become stale- dated and ineligible for redemption, the Defendant shall advise on the total dollar value of cheques cashed from Net Settlement Funds – Fixed. If the total dollar value of cheques cashed from Net Settlement Funds – Fixed is 95% or more of the Net Settlement Funds – Fixed, the balance retained in trust shall be paid to the Defendant within thirty (30) days thereafter, subject to the percentage payable to the Fonds d’aide aux actions collectives under the Regulation respecting the percentage withheld by the Fonds d’aide aux actions collectives on the part of the balance attributable to Quebec members. (3) If the total value of cheques cashed from Net Settlement Funds – Fixed is less than 95% of the Net Settlement Funds – Fixed, the balance of funds not paid to Claimants shall be distributed cy-près to such organization as the Courts may order, subject to the percentage payable to the Fonds d’aide aux actions collectives under the Regulation respecting the percentage withheld by the Fonds d’aide aux actions collectives on the part of the balance attributable to Quebec members.
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Final Calculation and Cy-Près Distribution. (1) Settlement cheques issued by the Claims Administrator that are not deliverable to or retrieved by a Class Member, or which are not cashed by a Class Member, within six
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Final Calculation and Cy-Près Distribution. (1) If a positive balance remains in the Settlement Trust after one hundred eighty (180) days have passed from the date of distribution of the Net Settlement Amount to the Authorized Claimants, whether as a result of failure to locate any Authorized Claimants, the failure of any Class Member to make a valid claim, or as a result of any tax refunds or any distributed cheques having become stale-dated or ineligible for redemption, or otherwise, Class Counsel and the Administrator, acting reasonably, shall determine whether the remaining balance may be distributed among the Authorized Claimants to the extent reasonably possible. (2) If, in the opinion of Class Counsel and the Administrator acting reasonably, the remaining balance is sufficient to warrant further distribution, the remaining balance shall be distributed to the Authorized Claimants in accordance with the Distribution Protocol. (3) If, in the opinion of Class Counsel and the Administrator acting reasonably, the remaining balance is not sufficient to warrant further distribution to the Authorized Claimants, the remaining balance shall be distributed cy-près to Pro ▇▇▇▇ Ontario.
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Final Calculation and Cy-Près Distribution. 4.3.1. Settlement funds issued by the Claims Administrator that are not deliverable to or retrieved by an Eligible Claimant within thirty (30) days of issuance will become stale-dated, ineligible for redemption, and shall not be reissued. 4.3.2. Forthwith after the date on which all or substantially all remaining settlement funds have become stale-dated, and ineligible for redemption pursuant to the preceding clause, the Claims Administrator shall advise Class Counsel and Counsel for the Defendant of the total dollar value of funds claimed by Claimants. 4.3.3. The Claims Administrator shall distribute 50% of any unclaimed funds to the Law Foundation of British Columbia and shall distribute the remaining 50% of the unclaimed funds to an organization(s) mutually agreed upon by the Parties, and failing agreement to the Law Foundation of British Columbia, in accordance with s. 36.2 of the Class Proceedings Act, R.S.B.C. 1996, c. 50. 4.3.4. The Claims Administrator will report to the Court regarding the disposition of the Net Settlement Fund to Eligible Claimants, including the number of Eligible Claimants to whom payments were made, the receipt of Administration Expenses, and the distribution of any remaining Settlement Amount on a cy-près basis. The report to the Court shall be delivered to Class Counsel, Counsel for the Defendant and to the Court as soon as practicable after completion of the claims administration procedure described in Section 4.2.
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Final Calculation and Cy-Près Distribution. (1) Settlement cheques or Interac e-transfers issued by the Claims Administrator that are not deliverable to or retrieved by a CIBC Class Member, or which are not cashed or deposited by a CIBC Class Member, within six (6) months of issuance in the case of cheques and thirty (30) days in the case of Interac e-transfers, will become stale-dated or expire, ineligible for redemption, and shall not be reissued.
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Related to Final Calculation and Cy-Près Distribution

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1. Establishment of Trust Accounts...............................43 SECTION 5.2. Pre-Funding Period Reserve Account............................47 SECTION 5.3. Certain Reimbursements to the Servicer........................48 SECTION 5.4. Application of Collections....................................48 SECTION 5.5. Withdrawals from Series 1997-1 Spread Account.................48 SECTION 5.6. Additional Deposits...........................................49 SECTION 5.7. Distributions.................................................49 SECTION 5.8. Note Distribution Account.....................................52 SECTION 5.9. Pre-Funding Account...........................................53 SECTION 5.10. Statements to Noteholders....................................53 SECTION 5.11. Optional Deposits by the Insurer.............................54

  • ALLOCATION OF DISTRIBUTION FEE Assuming that the Distribution Fee remains constant over time so that Part IV hereof does not become operative: (1) The portion of the aggregate Distribution Fee accrued in respect of all Class C shares of a Fund during any calendar month allocable to the Distributor or a Successor Distributor is determined by multiplying the total of such Distribution Fee by the following fraction: where: A= The aggregate Net Asset Value of all Class C shares of a Fund attributed to the Distributor or such Successor Distributor, as the case may be, and outstanding at the beginning of such calendar month B= The aggregate Net Asset Value of all Class C shares of a Fund at the beginning of such calendar month C= The aggregate Net Asset Value of all Class C shares of a Fund attributed to the Distributor or such Successor Distributor, as the case may be, and outstanding at the end of such calendar month D= The aggregate Net Asset Value of all Class C shares of a Fund at the end of such calendar month (2) If the Distributor reasonably determines that the transfer agent is able to produce automated monthly reports that allocate the average Net Asset Value of the Commission Shares (or all Class C shares if available) of a Fund among the Distributor and any Successor Distributor in a manner consistent with the methodology detailed in Part I and Part III(1) above, the portion of the Distribution Fee accrued in respect of all such Class C shares of a Fund during a particular calendar month will be allocated to the Distributor or a Successor Distributor by multiplying the total of such Distribution Fee by the following fraction: (A) (B) where: A= Average Net Asset Value of all such Class C shares of a Fund for such calendar month attributed to the Distributor or a Successor Distributor, as the case may be B= Total average Net Asset Value of all such Class C shares of a Fund for such calendar month

  • Requirement and Characterization of Distributions; Distributions to Record Holders (a) Within 45 days following the end of each Quarter commencing with the Quarter ending on September 30, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 17-607 of the Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the General Partner. All amounts of Available Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the Delaware Act. (b) Notwithstanding Section 6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Adjustments to Capital Accounts At the end of each Fiscal Period, the Capital Accounts of the Partners shall be adjusted in the following manner: (a) Subject to the provisions of subsections (c) and (d) and (f) of this Section 9, Net Profit of the Partnership for the Fiscal Year shall be credited as follows: (i) Twenty percent (20%) of the Net Profit shall be reallocated to the General Partner for each Fiscal Year as a "Incentive Allocation". (ii) The remaining Net Profit shall be allocated to the Partners in proportion to their Capital Accounts. (b) Net Loss of the Partnership for the Fiscal Year shall be debited against the Capital Account of each Partner in proportion to and in accordance with the balance in the Capital Account of the Partner until the value of any Partners' Capital account becomes zero. Thereafter, any remaining Net Loss for the Fiscal Year shall be debited to Partners having positive balances in their Capital accounts in proportion to those balances, until the value of each Partner's Capital Account becomes zero. Thereafter, any remaining Net Loss for the Fiscal Year shall be debited to the General Partner in accordance with each General Partner's General Partner Percentage for the Fiscal Period. (c) In the event that the Capital Account of one or more General Partner has a negative balance, one hundred percent (100%) of the Net Profit of the Partnership for the Fiscal Period shall be credited to those General Partners whose Capital Accounts have negative balances in accordance with their respective General Partner Percentages until no General Partner shall have a negative Capital Account balance. (d) Anything in this Section 9 to the contrary notwithstanding, if any Net Losses are allocated to the account of any Limited Partner, each such Limited Partner shall be entitled to a "Recoupment Allocation" of subsequent Net Profits of the Partnership, in an amount in proportion to his Partnership Percentage, until such Net Loss shall have been eliminated. The amount of Net Profits allocated as a Recoupment Allocation shall not exceed, but shall reduce, the amount of Net Profits otherwise allocable to the General Partners as the Incentive Allocation pursuant to Section 9(a) (ii) hereof. If a Limited Partner who is entitled to a Recoupment Allocation shall withdraw any portion of his Capital Account, the amount of Recoupment Allocation to which he is entitled shall be reduced in proportion to the amount of capital withdrawn. (e) The amount of any withdrawal made by the Partner pursuant to Section 21 or Section 22 of this Agreement shall be debited against the Capital Account of that Partner. (f) Allocations of Net Profit or Net Loss for a Fiscal Period, if necessary, shall be made in accordance with each Partner's Partnership percentage, adjusted as provided in paragraph (a) of this Section 9 at the end of the Fiscal Year, provided that the "Incentive Allocation" may not exceed twenty percent (20%) of the Net Profit for the Fiscal Year.