Maximum Settlement Amount Sample Clauses
The Maximum Settlement Amount clause sets a cap on the total amount that can be paid to resolve a dispute or claim under the agreement. In practice, this means that regardless of the damages claimed or the outcome of negotiations, the responsible party cannot be required to pay more than the specified maximum amount. This clause is commonly used in contracts to limit financial exposure and provide certainty regarding the potential costs of settling disputes.
Maximum Settlement Amount. As consideration, Defendant agrees to pay a “Maximum Settlement Amount” of Four Million Dollars and Zero Cents ($4,000,000.00) in full and complete settlement of the Action, as follows:
A. The Parties have agreed to engage CPT Group, Inc. as the “Settlement Administrator” to administer this Settlement.
B. The Maximum Settlement Amount shall be deposited with the Settlement Administrator within fifteen (15) business days of Final Approval (which, for this purpose, shall be defined as the date on which the Court enters an Order granting Final Approval) or, solely in the event that there are any objections to the settlement (the filing of an objection being a prerequisite to the filing of an appeal), the later of: (i) the last date on which any appeal might be filed or (ii) the successful resolution of any appeal(s) – including expiration of any time to seek reconsideration or further review.
C. This is a non-reversionary settlement. The Maximum Settlement Amount includes:
(1) All payments (including interest) to the Settlement Class;
(2) All costs of the Settlement Administrator and settlement administration, which are anticipated to be no greater than Ten Thousand Dollars and Zero Cents ($10,000.00);
(3) Up to Ten Thousand Dollars and Zero Cents ($10,000.00) for Plaintiff’s Class Representative Service Award, in recognition of Plaintiff’s contributions to the Action and his service to the Settlement Class. Even if the Court reduces or does not approve the requested Class Representative Service Award, Plaintiff shall not have the right to revoke this Settlement Agreement, and it will remain binding;
(4) Up to twenty-five percent (25%) of the Maximum Settlement Amount in Class Counsel’s attorneys’ fees ($1,000,000.00), plus actual costs and expenses incurred by Class Counsel related to the Action as supported by declaration, which are currently estimated to be no greater than Four- Thousand Dollars and Zero Cents ($4,000.00). If the Court reduces or does not approve the requested Class Counsel attorneys’ fees or costs, Class Counsel shall not have the right to revoke this Settlement Agreement, and it will remain binding; and
(5) Twenty Dollars and Zero Cents ($20,000.00) of the Maximum Settlement Amount has been set aside by the Parties as PAGA civil penalties. Per Labor Code § 2699(i), seventy-five percent (75%) of such penalties, or Fifteen Thousand Dollars and Zero Cents ($15,000.00) will be payable to the Labor & Workforce Development Agency (“LWDA”), and...
Maximum Settlement Amount. Defendant’s total payment under this Settlement is $125,000.00, and under no circumstances shall Defendants be required to pay more than this amount in settlement of this Action.
Maximum Settlement Amount. The aggregate amount of TJX’s payment obligation under this Settlement Agreement shall not in any event exceed $23,989,750 (the “Maximum Settlement Amount”), which amount is subject to reduction as provided in Section 3.4 below.
Maximum Settlement Amount. Subject to the terms and conditions of this Agreement, the maximum amount, “Maximum Settlement Amount,” excluding payroll taxes, that Defendant is obligated to pay under this Settlement Agreement is One Million Three Hundred Seventy-Five Thousand Dollars ($1,375,000).
Maximum Settlement Amount. As consideration, Defendant agrees to pay a non- reversionary maximum amount (“Maximum Settlement Amount”) of $200,000.00 in full and complete settlement of this matter, as follows:
A. The Parties have agreed to engage ILYM Group, Inc. as the “Claims Administrator” to administer this Settlement.
B. The Maximum Settlement Amount shall be deposited with the Claims Administrator within thirty (30) days of the Court’s granting final approval of this Agreement, including the resolution of any appeal or objection process, or by April 19, 2024, whichever is later.
C. The Maximum Settlement Amount includes:
(1) All payments (including interest) to the Settlement Class;
(2) All costs of the Claims Administrator associated with the administration of the Settlement;
(3) The Class Representative’s Enhancement Payment;
(4) Class Counsel’s attorneys’ fees and actual costs and expenses related to the Lawsuit;
(5) $20,000.00 of the Maximum Settlement Amount has been set aside by the Parties as PAGA civil penalties. Per Labor Code Section 2699(i), 75% of such penalties, or $15,000.00, will be payable to the California Labor & Workforce Development Agency (“LWDA”) for its share of PAGA penalties as the “LWDA Payment,” and the remaining 25%, or $5,000.00, will be payable to the eligible members of the Settlement Class as the “PAGA Amount.”
D. Defendant shall pay the standard company share of payroll taxes on all wages paid as part of this Settlement Agreement separate and apart from the Maximum Settlement Amount.
Maximum Settlement Amount. As consideration, VOX agrees to pay a “Maximum Settlement Amount” of $1,000,000.00 in full and complete settlement of the Action, as follows:
A. The Parties have agreed to engage Phoenix Settlement Administrators as the “Settlement Administrator” to administer this Settlement.
B. The Maximum Settlement Amount shall be deposited into an escrow account to be established by the Settlement Administrator in nine (9) bi-monthly installments, as follows:
Maximum Settlement Amount. Subject to the terms and conditions of this Agreement, including but not limited to section III.E.5., the Maximum Settlement Amount that Dollar Tree may be obligated to pay in connection with the Settlement of the Action is $1,350,000.00. This amount will cover (as approved by the District Court) (i) all Settlement Shares paid to Class Members; (ii) the Class Representative Payments; (iii) the Class Counsel Fees and Expenses Payment; (iv) the LWDA Payment; and (v) the Settlement Administrator’s fees and expenses.
Maximum Settlement Amount. As consideration, Defendants agree to pay a non- reversionary maximum amount (“Maximum Settlement Amount”) of $186,000.00 in full and complete settlement of this matter, as follows:
A. The Parties have agreed to engage Phoenix Class Action Administration Solutions. as the “Claims Administrator” to administer this Settlement.
B. The Maximum Settlement Amount shall be deposited with the Claims Administrator in ten (10) installments, as follows:
(1) The first installment payment in the amount of $93,000.00 shall be deposited with the Claims Administrator within 15 calendar days of the Court’s final approval of this Settlement;
(2) The second installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next full month following the first installment payment;
(3) The third installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the second installment payment;
(4) The fourth installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the third installment payment;
(5) The fifth installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the fourth installment payment;
(6) The sixth installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the fifth installment payment;
(7) The seventh installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the sixth installment payment;
(8) The eighth installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the seventh installment payment;
(9) The ninth installment payment in the amount of $10,333.33 shall be deposited with the Claims Administrator on the first of the next month following the eighth installment payment;
(10) The tenth installment payment in the amount of $10,333.36 shall be deposited with the Claims Administrator on the first of the next month following the ninth installment payment;
C. The Maximum Settlement Amount includes:
(1) All payments (including interest) to the Settlement Class;
(2) All costs of the Claims Administrator associated with the administration of the Settlement;
(3)...
Maximum Settlement Amount. Defendants’ maximum payment under this Settlement is $1,290,000.00. Defendants will pay this entire amount to the Administrator within seven (7) business days after the Effective Date. Any circumstances that require Defendants to pay more than this amount constitute a change to a material term.
Maximum Settlement Amount. The Parties agree to settle the Lawsuit for a Maximum Settlement Amount of Six Hundred Thousand Dollars and Zero Cents ($600,000.00) (the “Maximum Settlement Amount”), subject to the terms of this Agreement. The Maximum Settlement Amount is the maximum amount that Defendant can and shall be required to pay under this Settlement, by way of common fund, and includes all items, including, but not limited to, attorneys’ fees of Class Counsel, costs and expenses directly related to the Lawsuit (which includes all such fees and costs incurred to date, as well as such fees and costs to be incurred in documenting the Settlement, securing court approval of the Settlement, and obtaining a dismissal of the Lawsuit), the Service Payment to the Class Representative approved by the Court, the PAGA Payment to the LWDA pursuant to the PAGA claim in the Lawsuit and PAGA Payment Share to PAGA Employees, all costs of administration, including settlement administration fees and expenses, and the employee and employer share of payroll withholdings/taxes. The Maximum Settlement Amount represents the entire amount that Defendant can be required to pay in settlement of the Lawsuit.