Payment of the Settlement Amount Clause Samples

Payment of the Settlement Amount. 32. The Settlement Amount will include the full and complete cost of the settlement notice, claims administration, Settlement Class Members’ compensation, class representatives’ incentive awards (as approved by the Court), attorneys’ fees (as approved by the Court) and reimbursement of all actual expenses of the Action (as approved by the Court), any other litigation costs of Plaintiffs, and all applicable taxes, if any, assessable on the Settlement Fund or any portion thereof. In no event will Lafarge’s liability with respect to the Settlement exceed $23,000,000. Releasors shall look solely to the Settlement Amount for settlement and satisfaction against the Releasees of all Released Claims and shall have no other recovery against the Releasees. 33. Within ten (10) business days of the entry of an order preliminarily approving the Settlement, Lafarge will pay or cause to be paid by wire transfer $100,000 of the Settlement Amount to an account at a bank to be designated by Interim Co-Lead Counsel (the “Notice Fund”), to be used to pay the costs of providing notice of the settlement to the Settlement Class and for notice administration. 34. In the event there are Opt-Out Purchasers under this Settlement Agreement, Lafarge’s total cash payment shall be reduced by 0.75% for each 1% of the Opt-Out Percentage. For example, if the Opt-Out Percentage is 8%, Lafarge’s total cash payment would be reduced by 6% (0.75 x 8%). The remaining 0.25% for each 1% of the Opt-Out Percentage will be deposited into the Opt-Out Fee and Expense Account, to be paid to Plaintiffs’ counsel in consideration of their efforts on behalf of the Opt-Out Purchasers, upon approval by the Court of any such payment request. In the event the Court does not approve Plaintiffs’ counsel’s payment request, any funds in the Opt-Out Fee and Expense Account shall be added to the Settlement Fund. 35. Within seven (7) calendar days after the end of the period to request exclusion from the Settlement Class established by the Court and set forth in the notice, Interim Co-Lead Counsel shall provide counsel for Lafarge with a written list of all Opt-Out Purchasers. The Settling Parties then jointly will ascertain the Opt-Out Percentage. In the event the parties are unable to agree upon the Opt-Out Percentage, they shall submit the issue to the Court adjudicating the Action. Plaintiffs may attempt to obtain final rescission of any decision by an Opt-Out Purchaser to request exclusion prior to Lafarge invoki...

Payment of the Settlement Amount. Any amounts due from the Licensee under this Agreement shall be paid by direct debit under a mandate granted to RSP over a pounds sterling account with a bank in the United Kingdom in such form as RSP may require from time to time.

Payment of the Settlement Amount. Within ten (10) days of execution of this Settlement Agreement by all parties, and concurrently with the filing of dismissals required by Paragraph 1, the ILM/Capital parties shall pay to Angeles Housing Concepts, Inc. the sum of Two Million Two Hundred Fifty Thousand Dollars ($2,250,000.00) (the "Settlement Amount") in the form of three certified checks or cashier's checks as follows: (a) one check shall be made payable to "▇▇▇▇▇▇▇ ▇. Ready, Esq. in trust for the benefit of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, and ▇▇▇▇ ▇▇▇▇▇▇▇▇" in the amount of Four Hundred and Ten Thousand Dollars ($410,000.00), and delivered to ▇▇▇▇▇▇▇ & Ready, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ #▇, ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇; and (b) two checks shall be made payable to "▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇▇ LLP Client Trust Account for the benefit of Angeles Housing Concepts, Inc. and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇" in the total amount of One Million Eight Hundred and Forty Thousand Dollars ($1,840,000.00), and delivered to the offices of ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇▇ LLP. The date upon which these payments are made are referred to as the "Closing Date."

Payment of the Settlement Amount. 31. Plaintiffs will open a special interest-bearing settlement escrow account or accounts, established for that purpose as a qualified settlement fund as defined in Section 1.468B-1(a) of the U.S. Treasury Regulations (the “Escrow Account”). Within 30 business days after preliminary approval of the Settlement by the Court, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will deposit $7.75 million into the Escrow Account. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ agrees to pay an additional $5 million into the Escrow Account if ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has a Cash Balance, calculated as defined below, of at least $40 million as of December 31, 2025. If ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ does not have a cash balance of at least $40 million as of December 31, 2025, but does have a Cash Balance of at least $40 million in any following month, until December 31, 2027, then ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will pay $5 million into the Escrow Account. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ agrees to pay $5 million into the Escrow Account if ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has a Cash Balance, calculated as defined below, of at least $40 million as of December 31, 2026. If ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ does not have a Cash Balance of at least $40 million as of December 31, 2026, but does have a Cash Balance of at least $40 million in any following month, until December 31, 2027, then ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will pay $5 million into the Escrow Account. If ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇’▇ payments become due in the same month (i.e. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ first has a Cash Balance above $40 million in February of 2027), then ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will make the first payment of $5 million into the Escrow Account within 30 days, and will then have until December 31, 2027 to make the second payment into the Escrow Account. All payments that ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ owes must be completed by December 31, 2027. If ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ does not have a Cash Balance above $40 million at any point from December 31, 2025 until December 31, 2027, then ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will not be responsible for any additional payments besides the initial guaranteed payment of $7.75 million. In total, these payments of $7.75 million in a guaranteed payment and up to $10 million in contingent payments are the Total Monetary Settlement Amount. Cash Balance is calculated based on the average daily cash balance of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ for the 30 days preceding December 31st of the year in question for which the contingent payment is due. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and Plaintiffs agree that all material cash payments that ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ makes, between April 18, 2024 and December 31, 2027, that are not in the ordinary cou...

Payment of the Settlement Amount. (i) Conditional upon the approval of this Settlement Agreement as provided herein, the continuance of the trial in the Québec Proceeding, compliance with Section 4.2 above, and the settlement of the Québec Proceeding with prejudice and, as applicable, the release of the claims of members of the Québec ASR Class, Defendants agree to pay, or cause to be paid, (i) the Settlement Amount in the amount of twenty million Canadian dollars (CAN $20,000,000.00) into the Account provided the Effective Date has been reached. (ii) In valuing these claims and arriving at the Settlement Amount, Defendants have not assigned a value to any one claim where any individual Québec Class Member would receive more under this Settlement than he or she would receive under any other Canadian ASR class action settlement previously entered into by one or more Defendants. (iii) The Parties understand and agree that the Defendants or any Released Persons shall not be liable for, nor shall they be a proper party to any dispute related to any alleged harm or injury suffered by any member of the Québec ASR Class by reason of the use or alleged misuse of any part of the Settlement Amount, an erroneous disbursement or other action taken or failure to act with respect to any part of the Settlement Amount, or the administration of the claim process or the making of awards of Claim Amounts pursuant to this settlement.

Payment of the Settlement Amount. 7.1 Subject to the provisions of Clause 7.3, in full and final settlement of the Data Licensing Claims, Kosmos shall pay to GNPC the sum of US$23,000,000 (the “Settlement Amount”) in the following proportions and in the following manner: (A) US$ 8,050,000 within 3 Business Days of the Effective Date; (B) US$ 14,950,000 only upon consummation of the first to occur of: (i) completion of a sale of all of Kosmos’ assets in Ghana, directly or indirectly, to GNPC or to GNPC and a third party purchaser; (ii) a member of the Kosmos Group successfully completing an initial public offering of its shares on the New York Stock Exchange or through any other form of public offering; or (iii) a member of the Kosmos Group successfully completing the sale of Kosmos’ assets in Ghana to a third party purchaser. 7.2 Kosmos shall pay the Settlement Amount to GNPC in accordance with Clause 7.1 in cleared funds for value by telegraphic transfer to: Account name Ghana National Petroleum Corporation Account number 0001291404 Bank Ghana International Bank Plc ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ Swift Code ▇▇▇▇▇▇▇▇ IBAN number ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ Payee Ghana National Petroleum Corporation 7.3 The payments made under this Clause 7 shall be paid free and clear of all deductions or withholdings whatsoever, save only as may be required by the laws of Ghana. If any deductions or withholdings are required by the laws of Ghana to be made by Kosmos in respect of any payment, then the amount payable shall be adjusted so that Kosmos shall pay to GNPC the net amount following such deductions or withholdings as required by the laws of Ghana.

Payment of the Settlement Amount. Subject to the terms of this Agreement, Cisco will pay the total sum of no more than Six Million U.S. Dollars ($6,000,000.00) (the “Settlement Amount”) in the manner described herein. The Settlement Amount resolves claims for damages, restitution, penalties, attorney’s fees and costs made by the States and their Political Subdivisions, and includes the Relator’s share, i.e., the share to which the Relator is entitled under the States’ false claims acts (“Relator’s Share”).

Payment of the Settlement Amount. (a) In full consideration of Plaintiff's settlement and release of the Defendants, as described in Section 6 below, Defendants shall deliver to Teltronics on the Closing Date $700,000 in immediately available funds and Intelliworxx shall issue 570,000 shares of Intelliworxx Stock to Teltronics, which shall be subject to adjustment as described below (as adjusted, the "Intelliworxx Shares"). (b) Certificates representing the Intelliworxx Shares, together with stock powers duly endorsed in blank by Teltronics shall be held in escrow by Sommer & Schneider LLP, pursuant to an escrow agreement in ▇▇▇ ▇▇rm ▇▇▇▇▇▇▇ ▇ereto as Exhibit A (the "Escrow Agreement"). The Escrow Agreement shall provide that: (i) on the first anniversary of the execution of this Agreement, Intelliworxx Shares having a "Market Value" (as determined below) of $2,275,000 will be released from escrow for sale by Teltronics; (ii) on the second anniversary of the execution of this Agreement, additional Intelliworxx Shares having a Market Value equal to $2,275,000 will be released from escrow for sale by Teltronics. (iii) In the event and at such time as Teltronics realizes gross proceeds of $4,550,000 from the sale of the Intelliworxx Shares, or Intelliworxx exercises the repurchase option set forth in Section 2.6 of this Agreement, unsold Intelliworxx Shares will be returned to Intelliworxx for cancellation.

Payment of the Settlement Amount. A. Within fifteen (15) Business Days of the Execution Date, Mt. McKinley and Everest agree to pay the Settlement Amount into the Esc▇▇▇ ▇▇▇▇unt by wire transfer as follows: ABA No. 053000219 D/5000000016439 CT/BRANCH 2800 Bank Name: WACHOVIA BANK, NATIONAL ASSOCIATION CHARLOTTE, NC Account No. 2572008669 Acct Name: Congo/EveMck Esc Attn. Rick Barnes Subject to the provisions of Paragraph 2.D below, and p▇▇▇▇▇▇▇ ▇▇▇t no asbestos legislation, as contemplated in Paragraph 2.D below, has been enacted prior to the Trigger Date, then within ten (10) Business Days of the Trigger Date, the Parties shall jointly direct the Escrow Agent to release the Settlement Amount in full, along with any and all interest or investment income accrued thereon (less (a) any expenses that the Escrow Agent incurs; (b) any reserves required under the Approval Order to be held for the payment of taxes, indemnities, or otherwise; and (c) losses incurred under any investment of the Settlement Amount permissible under the terms of the Approval Order and the Escrow Agreement) to the Plan Trust or as otherwise directed by the Court. Subject to the provisions of Paragraph 2.D below, upon the release of the Settlement Amount pursuant to this Paragraph 2.A, legal and equitable title to the Settlement Amount shall pass irrevocably to the Plan Trust or to such other Entity as is directed by the Court. B. Time is of the Essence. Time is of the essence with respect to the payment of the Settlement Amount.