Common use of Monetary Settlement Clause in Contracts

Monetary Settlement. 60. Subject to approval by the Court, the total monetary consideration to be provided by Farmers pursuant to the Settlement shall be $15,000,000, inclusive of the amount paid to Settlement Class Members, any and all attorneys’ fees, costs and expenses awarded to Class Counsel, any Service Awards to the Class Representatives, all costs and expenses incurred by the Settlement Administrator and any cy pres payment. 61. Within 10 days of Preliminary Approval of the Settlement, Farmers shall deliver to the Settlement Administrator $500,000 from the Settlement Amount to be deposited in a Qualified Settlement Fund account for this matter at the Depository Bank. This amount is estimated to be necessary to pay for the Notice Program and administration of the Settlement by the Settlement Administrator. 62. Within 10 days of the Effective ▇▇▇▇ ▇▇▇▇▇▇▇ shall deliver to the Settlement Administrator that portion of the Settlement Amount necessary to pay the Settlement Class Member Payments due to the Past Policy Holders and the attorneys’ fees and costs payable to Class Counsel, which amount shall be deposited in the Qualified Settlement Fund account for this matter at the Depository Bank maintained by the Settlement Administrator. The Settlement Administrator shall deliver such Settlement Class Member Payments to the Past Policy Holders in accordance with the Court’s Final Approval Order. 63. In order to reduce the costs of administration of the Settlement, Farmers shall retain that portion of the Settlement Amount that is allocated to Settlement Class Members who are Renewing Current Policy Holders, who will beginning on the Payment Date, at its own cost and expense, directly credit the Policies of those Renewing Current Policy Holder Settlement Class Members at the time of renewal of their Policies. At the conclusion of the renewal cycle, Farmers shall deliver to the Settlement Administrator that portion of the Settlement Amount necessary to satisfy the Settlement Class Member Payments due to the Non– Renewing Current Policyholders, whose payments will be then be delivered by the Settlement Administrator by paper check. Farmers shall report to the Court as to the status of all Settlement Class Member Payments made to Renewing Current Policy Holders on a semi-annual basis following the Payment Date.

Monetary Settlement. 6068. Subject to approval by the Court, the total monetary consideration to be provided by Farmers Allstate pursuant to the Settlement shall be $15,000,00025,000,000, inclusive of the amount paid to Settlement Class Members, any and all attorneys’ fees, costs and expenses awarded to Class Counsel, any Service Awards Award to the Class RepresentativesRepresentative, all costs and expenses incurred by the Settlement Administrator and any cy pres payment. 6169. Within 10 14 days of Preliminary Approval of the Settlement, Farmers Allstate shall deliver to the Settlement Administrator via wire transfer $500,000 1,100,000 from the Settlement Amount to be deposited in a Qualified Settlement Fund account for this matter at the Depository Bank. This amount is estimated to be necessary to pay for the Notice Program and administration of the Settlement by the Settlement Administrator. 6270. Within 10 14 days of the Effective ▇▇▇▇ ▇▇▇▇▇▇▇ Court order for Final Approval, Allstate shall deliver to the Settlement Administrator that portion of the Settlement Amount necessary to pay the Settlement Class Member Payments due to the Past Primary Policy Holders and the attorneys’ fees and costs payable to Class Counsel, which amount shall be deposited in the Qualified Settlement Fund account for this matter at the Depository Bank maintained by the Settlement Administrator. The Settlement Administrator shall deliver such Settlement Class Member Payments to the Past Primary Policy Holders in accordance with the Court’s Final Approval Order. 6371. In order to reduce the costs of administration of the Settlement, Farmers Allstate, at the direction of the Settlement Administrator, shall retain that portion of the Settlement Amount that is allocated to Settlement Class Members who are Renewing Current Primary Policy Holders, who and will beginning on the Payment Date, at its own cost and expense, directly credit the Policies of those Renewing the Remaining Current Primary Policy Holder Settlement Class Members at within the time of renewal of their PoliciesPayment Period. At the conclusion of the renewal cyclePayment Period, Farmers Allstate shall submit a report to the Settlement Administrator as to the status of the policy credits to Remaining Current Primary Policy Holder Settlement Class Members and deliver to the Settlement Administrator that portion of the Settlement Amount necessary to satisfy the Settlement Class Member Payments due to the Non– Renewing –Remaining Current PolicyholdersPrimary Policy Holders, whose payments will be then be delivered by the Settlement Administrator by paper check. Farmers shall report to , electronic payment, or other payment method approved by the Court as to the status of all Settlement Class Member Payments made to Renewing Current Policy Holders on a semi-annual basis following the Payment DateCourt.