Common use of Monetary Terms Clause in Contracts

Monetary Terms. The City of Cincinnati, on behalf of the Defendants, shall pay six million dollars to the Plaintiffs as valuable consideration in full and final settlement of all claims and causes of action, as set forth below, including all claims for attorney fees and costs payable under any provision of law. Such payment is expressly conditioned on an appropriation of the $6 million, as well as the $250,000.00 for the Team, by Cincinnati City Council. The City shall pay the filing fee for the QSF petition. The Plaintiffs will pay all other costs associated with the QSF administrator. Within 30 days of the passage of such Ordinance, payment shall be made to the ▇▇▇▇ Plush Qualified Settlement Fund established in the United States District Court as ordered by said Court. The Fund shall be paid in a manner that protects the Fund’s ability to fund the qualified settlement fund (QSF), special needs trusts, Medicaid payback pooled trust accounts, and/or fund structured settlement annuity contracts, or similar instruments. All payments are made on account of personal physical injury under Internal Revenue Code Section 104(a)(2). The source and origin of the claim and monetary payment is the physical injury to and death of ▇▇▇▇ ▇▇▇▇▇. No payments are made on account of punitive damages of any kind. Defendants make no representations as to the tax consequences of the settlement or of this Agreement. This Agreement is not contingent upon acceptance by the Internal Revenue Service of the characterization of the nature of payments as set forth in this Paragraph. This Agreement is contingent on the approval of the Probate Court of Hamilton County.

Monetary Terms. The City of Cincinnati, on behalf of the Defendants, shall pay six million dollars to the Plaintiffs as valuable consideration in full and final settlement of all claims and causes of action, as set forth below, including all claims for attorney fees and costs payable under any provision of law. Such payment is expressly conditioned on an appropriation of the $6 million, as well as the $250,000.00 for the Team, by Cincinnati City Council. The City shall pay the filing fee for the QSF petition. The Plaintiffs will pay all other costs associated with the QSF administrator. Within 30 days of the passage of such Ordinance, payment shall be made to the ▇▇▇▇ Plush Qualified Settlement Fund established in the United States District Court as ordered by said Court. The Fund shall be paid in a manner that protects the Fund’s ability to fund the qualified settlement fund (QSF), special needs trusts, Medicaid payback pooled trust accounts, and/or fund structured settlement annuity contracts, or similar instruments. All payments are made on account of personal physical injury under Internal Revenue Code Section 104(a)(2). The source and origin of the claim and monetary payment is the physical injury to and death of ▇▇▇▇ ▇▇▇▇▇. No payments are made on account of punitive damages of any kind. Defendants make no representations as to the tax consequences of the settlement or of this Agreement. This Agreement is not contingent upon acceptance by the Internal Revenue Service of the characterization of the nature of payments as set forth in this Paragraph. This Agreement is contingent on the approval of the Probate Court of Hamilton ▇▇▇▇▇▇▇▇ County.