Payments to Settlement Class Members Clause Samples
The "Payments to Settlement Class Members" clause defines how and when members of a settlement class will receive monetary distributions as part of a legal settlement. It typically outlines the eligibility criteria for class members, the method of calculating individual payment amounts, and the process for distributing funds, such as direct deposit or mailed checks. This clause ensures that compensation is fairly and efficiently allocated to those affected, providing a clear mechanism for resolving claims and finalizing the settlement process.
Payments to Settlement Class Members. 2.1.1. Defendant shall pay or cause to be paid into the Escrow Account the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, within thirty (30) days after Preliminary Approval.
2.1.2. Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. The Settlement Administrator shall pay a pro rata portion of the Net Settlement Fund for all Approved Claims through payment (a) by check via first class U.S. mail; or (b) by electronic means via Paypal or Venmo, upon election of the Settlement Class Member, which the Parties agree to make available as alternative payment options. Payments to all Settlement Class Members with Approved Claims shall be made within ninety (90) days after the Effective Date.
2.1.3. All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within one hundred and eighty (180) days after the date of issuance. To the extent that any checks issued to a Settlement Class Member are not cashed within one-hundred eighty (180) days after the date of issuance, such uncashed check funds shall be redistributed on a pro rata basis (after first deducting any necessary settlement administration expenses from such uncashed check funds) to all Settlement Class Members who cashed checks or received electronic payments during the initial distribution, but only to the extent each Settlement Class Member would receive at least $5.00 in any such secondary distribution and if otherwise feasible. To the extent each Settlement Class Member would receive less than $5.00 in any such secondary distribution or if a secondary distribution would be otherwise infeasible, any uncashed check funds shall, subject to Court approval, revert to a non-sectarian and/or not-for-profit organization recommended by Class Counsel and approved by the Court.
2.1.4. Upon payment of the Settlement Fund into the Escrow Account, all risk of loss with respect to the cash portion of the Settlement shall pass to the Escrow Account, and any and all remaining interest or right of Defendant in or to the Escrow Account, if any, shall be extinguished.
Payments to Settlement Class Members. If the Court grants final approval of the Settlement, Settlement Awards will be mailed to all Settlement Class members who did not submit a valid and timely Request for Exclusion.
Payments to Settlement Class Members. (a) MRT Sureway, Inc. shall pay into the Escrow Account the amount of the Settlement Fund ($225,000.00) within twenty-one (21) days after entry of the Preliminary Approval Order.
(b) The Settlement Administrator shall issue a pro rata distribution of the Net Settlement Fund to all Settlement Class Members who do not timely exclude themselves from the Settlement Class. This distribution to Settlement Class Members will be in the form of a check mailed for Settlement payments to each Settlement Class Members’ last known address as reflected by MRT Sureway, Inc.’s records, or to an alternate address for any Settlement Class Member as determined by the Settlement Administrator pursuant to Paragraph 4.1 of this Agreement.
(c) Within ten (10) days of the Effective Date, the Settlement Administrator shall pay: (1) the settlement payments to Settlement Class Members; (2) the Fee Award to Class Counsel, if any; (3) the Incentive Award to Plaintiff, if any; (4) the Settlement Administration Expenses (providing an invoice for same to Class Counsel and Defendant’s Counsel for review and approval prior to issuing such payment).
(d) MRT Sureway, Inc. shall provide a Settlement Class Member’s social security number to the Settlement Administrator for settlement administration/tax purposes, upon request and in the event deemed necessary by the Settlement Administrator.
(e) All checks issued to Settlement Class Members will state on the face of the check that it will expire and become null and void unless cashed within one hundred and twenty
Payments to Settlement Class Members. (a) Defendant shall pay or cause to be paid into the Escrow Account the amount of the Settlement Fund ($50,000,000.00), specified in Section 1.33 of this Agreement, within twenty-eight (28) business days after entry of the Preliminary Approval Order.
(b) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. Each Settlement Class Member with an Approved Claim shall be entitled to a pro rata portion of the Settlement Fund, calculated by the Settlement Administrator, by check after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, the Incentive Award to Plaintiff, and any other costs, fees or expenses approved by the Court. The intention of the parties is that the recovery for any individual class member will not exceed the amount allowed by law.
(c) The Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check with said checks being sent via first class U.S. mail to the Settlement Class Members who submitted all such Approved Claims. Payments to all Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days after Final Judgment.
(d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within one hundred eighty (180) days after the date of issuance. To the extent that a check issued to a Settlement Class Member is not cashed within one hundred eighty (180) days after the date of issuance, such funds shall, subject to Court approval, revert to the Michigan Bar Foundation’s Access to Justice Fund, a non-sectarian, not-for-profit organization. In no event shall any undistributed funds be paid back to Defendant.
Payments to Settlement Class Members. What kind of payments can Settlement Class Members receive?
Payments to Settlement Class Members. (a) Defendant shall within five (5) business days following Final Judgment pay or cause to be paid into the Escrow Account the amount of the Settlement Fund (up to
(b) Each Settlement Class Member will receive a pro rata payment from the Settlement Fund. The pro rata payment for each Settlement Class Member will be equal to that Settlement Class Member’s Out-of-Pocket Percentage multiplied by the Available Settlement Fund. The Notice will give Settlement Class Members the ability to opt via an Election Form to:
(i) receive a Cash Award by Venmo or PayPal; (ii) apply their share of the Settlement Fund to future credits should the Settlement Class Member wish to re-enroll or continue enrollment at UT, provided however that credit issued as part of the settlement must be used no later than the start of the Fall 2023 semester (on August 28, 2023) and, if not used by this time, the credit will expire and no other refund or credit will be provided to such Settlement Class Member regardless of whether they actually use such credit; or (iii) direct their share of the Settlement Fund as a gift to The University of Tampa for deposit into a scholarship fund administered by The University of Tampa for the benefit of its students. Settlement Class Members must submit an Election Form no later than sixty (60) days after the Notice Date. In the event a Settlement Class Member does not submit an Election Form, the Settlement Class Member will receive a Cash Award in the form of a check sent to the Settlement Class Member’s last known address.
(c) Payments to all Settlement Class Members shall be made within twenty- eight (28) days after the Effective Date.
(d) All Cash Awards issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within ninety
(e) Plaintiffs understand and agree that Plaintiffs and Settlement Class Members would not receive the monies and/or benefits specified in this Agreement, except for Plaintiffs’ execution of this Agreement and the fulfillment of the promises contained herein.
Payments to Settlement Class Members. (a) Defendant shall cause their insurers to pay into the Escrow Account the amount of the Settlement Fund ($16,375,000.00), specified in Section 1.33 of this Agreement, according to the following schedule: i. three hundred thousand dollars ($300,000.00) to be paid into the Escrow Account within twenty-eight (28) business days after Preliminary Approval to cover the initial hard costs included in the Settlement Administration Expenses of the Settlement Administrator associated with providing Notice to the class, including payment of postage fees; and
Payments to Settlement Class Members. 1. The Settlement payments to Class Members will be calculated, paid, and distributed as follows:
a. an initial damages amount will be calculated by the Settlement Administrator for each Class Member who submits a Valid Claim (Settlement Class Member), said damages amount to be calculated by applying the Incarceration Claim Calculation Method, the Fee Payment Claim Calculation Method, and/or the Warrant Claim Calculation Method, each and together as set forth in this Settlement Agreement;
b. within 30 days of entry of Final Judgment, Defendant will pay or cause to be paid the total initial damages amount to the Settlement Administrator or as directed by the Settlement Administrator;
c. the Settlement Administrator shall make all payments required hereunder and send checks, or other cash-equivalent form of payment, to each Settlement Class Member who submitted a Valid Claim; and
d. within 30 days of the Effective Date, Defendant will pay or cause to be paid Seven Thousand Five Hundred and 00/100 Dollars ($7,500.00) to each of four (4) Class Representatives ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, and ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇; and
e. within 30 days of the Effective Date, Defendant will pay or cause to be paid Two Hundred Thousand and 00/100 Dollars ($200,000) to Class Counsel for the Attorneys’ Fees.
Payments to Settlement Class Members. The Settlement Administrator shall prepare and deliver to Settlement Class Members payment in accordance with Section 11(a) below.
Payments to Settlement Class Members. (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.
(b) Each Settlement Class Member shall receive as a Cash Award a pro rata portion of the Settlement Fund, calculated by the Settlement Administrator, after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, any service award to the Class Representative, and any other costs, fees, or expenses approved by the Court, unless the Settlement Class Member excludes himself or herself from the Settlement.
(c) Except for any Settlement Class Member for whom the Settlement Administrator is unable to identify a postal address or e-mail address that it determines is reasonably likely to be the current place of residence (or an active e-mail address) for such Settlement Class Member, after taking measures reasonably necessary to identify such an address (as detailed further in Paragraph 4.1(b)), each Settlement Class Member will be sent via