For the Plan of Allocation Sample Clauses

The "For the Plan of Allocation" clause defines how settlement funds or other resources will be distributed among eligible parties in a legal or financial agreement. Typically, this clause outlines the criteria for eligibility, the method for calculating individual shares, and the process for submitting claims or documentation. For example, it may specify that funds are allocated based on the amount of loss suffered or the number of valid claims received. The core function of this clause is to ensure a fair and transparent distribution process, minimizing disputes and providing clarity to all participants regarding how allocations will be determined.
For the Plan of Allocation. The Plan of Allocation attached as Exhibit C hereto provides for the allocation of the Settlement Fund net of the disbursements called for in Sections 8.2.1, 8.2.2, 8.2.3, and 8.2.4 (“Net Proceeds”). Upon the Judgment becoming Final as provided in Section 2.3, and after the amounts payable pursuant to Sections 8.2.1, 8.2.2, 8.2.3 and 8.2.4 have been determined and disbursed, Co-Lead Counsel shall direct the Financial Institution to disburse the Net Proceeds to the master trust for the Plans for allocation to or for the benefit of members of the Settlement Class. The Parties agree that the deposit of the Net Proceeds into the trust created under the Plans shall constitute “restorative payments” within the meaning of Revenue Ruling 2002-45 for all purposes. Defendants shall direct State Street Bank and Trust Company, or any successor Trustee of the Plans, or any other authorized entity, to allocate the Net Proceeds received by the Plans’ trust according to the Plan of Allocation and shall notify Co-Lead Counsel as to the date(s) and amount(s) of said allocation(s), but Defendants shall have no liability for the failure by State Street Bank and Trust Company, or any successor Trustee of the Plans, the Plans’ record-keeper, or any other authorized entity, to follow such directions provided that, in the event of any failure by State Street Bank and Trust Company, or any successor Trustee of the Plans, or any other authorized entity, to follow directions from Defendants given pursuant to this Section 8.2.5, the Defendants shall assist in seeking to enforce such directions. All reasonable fees and expenses of State Street Bank and Trust Company, or any predecessor or successor Trustee of the Plans, the Plans’ record-keeper or any other authorized entity, with respect to implementation of the Plan of Allocation shall be Plans’ expenses paid solely out of the Net Proceeds and shall be timely paid by the Plans without further order of the Court. Defendants warrant that they either have obtained or will obtain the authority to direct that the Net Proceeds received by the Plans’ trust be allocated according to the Plan of Allocation. Defendants shall have no responsibility for structuring the content of the Plan of Allocation, or for its design or implementation, but will have the right to review it for feasibility and cost before presentation to the Court. The Plan of Allocation is a matter separate and apart from the Settlement between the Parties, and no decision b...
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For the Plan of Allocation. 8.2.3.1. Class Counsel shall propose to the Court the Plan of Allocation attached as Exhibit 3. To the extent they were participants or beneficiaries of the Plan at any time during the Class Period, Defendants and their Immediate Family Members will be excluded from the Plan of Allocation. 8.2.3.2. The Settlement Administrator shall be solely responsible for implementing the Plan of Allocation, including calculating and distributing the Settlement Proceeds to Settlement Class members, and for the issuance of any tax notices arising from the payments made pursuant to the Plan of Allocation. Except for providing the data set forth in Section 2.1.4 to the extent available, Defendants and Released Parties shall have no responsibility for the allocation and distribution of the Settlement Fund and shall not be liable for any claims by, through, or under any member of the Settlement Class or any third party relating to the allocation or distribution of the Settlement Fund or Settlement Proceeds, including but not limited to any claims regarding the adequacy of payment or failure to make payment or that a member of the Settlement Class should have been allocated or distributed a different amount of the Settlement Fund than it actually received or than provided by the Settlement, including the Plan of Allocation.
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For the Plan of Allocation. Class Counsel shall propose to the Court a Plan of Allocation. To the extent they were participants or beneficiaries of the Plan at any time during the Class Period, Defendants and their Immediate Family Members, any entity in which a Defendant has a controlling interest, and their heirs, Successors-in-Interest, or assigns (in their capacities as heirs, Successors-in-Interest, or assigns) will be excluded from the Plan of Allocation. The Plan of Allocation is a matter separate and apart from the Settlement between the Parties, and no decision by the Court concerning the Plan of Allocation shall affect the validity of the Settlement Agreement or finality of the Settlement in any manner. The Investment Committees Defendants shall make best efforts to ensure that the Company and/or the Settlement Administrators or SIP Recordkeeper will, at the request of Class Counsel and without charge, review the proposed Plan of Allocation to determine whether sufficient data exists to effectuate it. Defendants, the Company, XL Insurance, and their Successors-in-Interest shall have no liability in the event of any action or failure to act by the Settlement Administrator or by any other entity with respect to the creation, calculation, or implementation of the Plan of Allocation. The Settlement Administrator shall be solely responsible for the calculation of the amount of the Settlement Proceeds to be distributed to qualified Settlement Class members, and for the issuance of any tax notices arising from the payments made pursuant to the Plan of Allocation.
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For the Plan of Allocation. Class Counsel shall propose to the Court a Plan of Allocation (“Plan of Allocation”) that shall provide for the allocation of the Settlement Fund net of the disbursements called for in sections 8.2.1, 8.2.2 and 8.2.3 (“Net Proceeds”). Such Plan of Allocation will provide the method by which the specific dollar amount to be allocated by the Plan as to each member of the Settlement Class will be calculated. On or after the Effective Date, Class Counsel shall direct the Financial Institution to disburse the Net Proceeds to the Plan for distribution by the Plan’s trustee in accordance with the Plan of Allocation. The Defendants will be excluded from the Plan of Allocation. The Plan of Allocation is a matter separate and apart from the Settlement between the Parties, and no decision by the Court concerning the Plan of Allocation shall affect the validity of the Settlement Agreement or finality of the Settlement in any manner. Nothing herein shall constitute approval or disapproval of the Plan of Allocation by the Releasees, and the Releasees shall have no responsibility or liability for the Plan of Allocation and shall take no position for or against the Plan of Allocation before the Court, other than as set forth in the following paragraph.
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For the Plan of Allocation. Class Counsel shall propose to the Court and to the Independent Fiduciary a Plan of Allocation, and may propose to the Court an amended Plan of Allocation with the consent of the Independent Fiduciary. To the extent they were participants or beneficiaries of the Plan at any time during the Class Period, Defendants and their Immediate Family Members, any entity in which a Defendant has a controlling interest, and their heirs, Successors-in-Interest, or assigns (in their capacities as heirs, Successors-in-Interest, or assigns) will be excluded from the Plan of Allocation. The Company will, at the request of Class Counsel and without charge, consult with and provide Class Counsel with any reasonable information related to the administration and feasibility of any Plan of Allocation being considered by Class Counsel (all such information to be kept confidential by Class Counsel and used exclusively for this purpose). Defendants and their Successors-in-Interest shall have no liability in the event of any action or failure to act by any entity with respect to the creation, calculation, or implementation of the Plan of Allocation.
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Related to For the Plan of Allocation

  • Plan of Allocation 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former Participants, and their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement payments as contributions to one or more of their accounts in the Plans, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their Settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

  • Method of Allocation The Employer must specify in its Adoption Agreement the manner of allocating each annual Employer contribution to this Trust.

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.

  • Section 704(c) Allocations Notwithstanding Section 6.5.A hereof, Tax Items with respect to Property that is contributed to the Partnership with an initial Gross Asset Value that varies from its basis in the hands of the contributing Partner immediately preceding the date of contribution shall be allocated among the Holders for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. With respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering, such variation between basis and initial Gross Asset Value shall be taken into account under the “traditional method” as described in Regulations Section 1.704-3(b). With respect to other Properties, the Partnership shall account for such variation under any method approved under Code Section 704(c) and the applicable Regulations as chosen by the General Partner. In the event that the Gross Asset Value of any Partnership asset is adjusted pursuant to subsection (b) of the definition of “Gross Asset Value” (provided in Article 1 hereof), subsequent allocations of Tax Items with respect to such asset shall take account of the variation, if any, between the adjusted basis of such asset and its Gross Asset Value in the same manner as under Code Section 704(c) and the applicable Regulations and using the method chosen by the General Partner; provided, however, that the “traditional method” as described in Regulations Section 1.704-3(b) shall be used with respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering. Allocations pursuant to this Section 6.5.B are solely for purposes of Federal, state and local income taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Net Income, Net Loss, or any other items or distributions pursuant to any provision of this Agreement.

  • Tax Allocation Prior to the Closing, Seller and Purchaser shall cooperate in good faith to determine a reasonable allocation of the total consideration paid for the Transferred Assets, as finally determined pursuant to Section 2.1(d), Section 2.1(i) and Section 3.3, in accordance with Section 1060 of the Code and the Treasury Regulations promulgated thereunder (the “Purchase Price Allocation”). Seller and Purchaser shall cooperate in good faith to mutually agree to such allocation and shall reduce such agreement to writing, which agreement shall be reflected in an Exhibit 2.1(j) to be approved by Seller and Purchaser prior to Closing. Seller and Purchaser shall jointly and properly execute each party’s respective completed Internal Revenue Service Form 8594, and any other forms or statements required by the Code (or state or local Tax law), Treasury Regulations or the Internal Revenue Service or other Governmental Authority (together with any and all attachments required to be filed therewith), which forms and statements will be prepared in a manner consistent with the Purchase Price Allocation. Seller and Purchaser shall file timely such forms and statements with the Internal Revenue Service or other Governmental Authority. The Purchase Price Allocation shall be appropriately adjusted to take into account any subsequent payments under this Agreement and any other subsequent events required to be taken into account under Section 1060 of the Code. Seller and Purchaser shall not file any Tax Return or other documents or otherwise take any position with respect to Taxes that is inconsistent with the Purchase Price Allocation; provided, however, that neither Seller nor Purchaser shall be obligated to litigate any challenge to such allocation by any Governmental Authority. Seller and Purchaser shall promptly inform one another of any challenge by any Governmental Authority to any allocation made pursuant to this Section 2.1(j) and agree to consult with and keep one another informed with respect to the state of, and any discussion, proposal or submission with respect to, such challenge.