Net Fund Clause Samples
The Net Fund clause defines how the net amount of funds available for distribution or use is calculated after deducting specified expenses or obligations. In practice, this clause outlines which costs, such as administrative fees, taxes, or other liabilities, are subtracted from the gross fund before determining the distributable balance. Its core function is to ensure transparency and fairness in financial distributions by clearly specifying what deductions are made, thereby preventing disputes over the amount available for allocation.
Net Fund. The amount approved by the Court for Service Payments; the amount approved by the Court for attorneys’ fees, expenses, and costs; and the fees and expenses of the Settlement Claims Administrator approved by the Court shall be deducted from the Gross Fund to obtain a “Net Fund.”
Net Fund. The amount approved by the Court for the Enhancement Payment; the amount approved by the Court for attorneys’ fees, expenses, and costs; the PAGA Payment; and the fees and expenses of the Settlement Administrator approved by the Court shall be deducted from the Gross Fund to obtain a “Net Fund.”
Net Fund. The following amounts shall be deducted from the Gross Fund to obtain a “Net Fund:” the amount approved by the Court for General Release Payment; the amount approved by the Court for attorneys’ fees, expenses, and costs; the employer’s share of payroll taxes; and the fees and expenses of the Settlement Claims Administrator approved by the Court.
Net Fund. “Net Fund” means the Settlement Payment minus Class Counsel’s Attorneys’ Fees and Costs and Class Representatives’ service payments as approved by the Court.
Net Fund. The Net Fund is defined as the Gross Fund less: the amount approved by the Court for General Release Payments; the amount approved by the Court for attorneys' fees, expenses, and costs; and the fees and expenses of the Settlement Claims Administrator approved by the Court.