Common use of Payment of Valid Claims Clause in Contracts

Payment of Valid Claims. Valid Claims shall be paid by an electronic deposit through Venmo, prepaid card or Zelle with checks available upon request to the Settlement Class Member within sixty (60) days after the Effective Date, subject to reasonable extension upon mutual agreement by the Parties if necessary for the Claim Administrator, the Parties and/or the Court to complete the claim determination and processing processes described in Paragraph 4.6. All settlement checks shall be void and no longer negotiable one hundred twenty (120) day after the date the check was issued. If a settlement check is not negotiated, the Settlement Class Member shall not be entitled to any further payment under this Agreement. If a settlement check is returned as undeliverable, the Claim Administrator shall send an email to the claimant, if an email address was provided with the claim, to attempt to obtain a better address, and if obtained, shall mail the check to the new address, but the re- mailing of any check will not extend the 120-day period after which the check will become void. The return or failure to cash checks shall have no effect on a Settlement Class Member’s release of claims, obligations, representations, or warranties as provided herein, which shall remain in full effect. Funds from uncashed checks shall be paid to a cy pres charity to be agreed upon between the parties and approved by the Court.