Common use of Payments to Settlement Class Members Clause in Contracts

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.

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

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 (30a) days after Preliminary Approval. 2.1.2. Settlement Class Members shall have until the Claims Deadline to submit Claim Forms. Each Settlement Class Member will be presumed to have received three (3) calls. Settlement Class Members that received more than three (3) calls will be able to indicate the number of calls they received and will be eligible for payment on a per call basis. Defendants may challenge the number of calls claimed, but each Settlement Class Member that submits a completed Claim Form will have an Approved ClaimClaim for at least one (1) call. (b) Each Settlement Class Member who submits an Approved Claim shall be entitled to a payment of $500 per call, unless the total of such payments (plus payment of all Settlement Administration Expenses, any incentive award to the Class Representatives, and any Fee Award to Class Counsel) would exceed the $76,000,000 Ceiling. In that case, each Settlement Class Member who submits an Approved Claim would be entitled, per call, to a pro rata share of the total Settlement Fund (after payment of all Settlement Administration Expenses, any incentive award to the Class Representatives, and any Fee Award to Class Counsel) based on the total number of calls resulting from Approved Claims. By way of example, if the total payments at $500 per call (plus payment of the Fee Award, incentive awards, and Settlement Administration Expenses) would be less than $56,000,000, each Settlement Class Member who submits an Approved Claim will get a pro rata payment of more than $500 per call up to a maximum of $1,500 per call, so that the total payout is at least equal to the $56,000,000 Floor. If the Settlement Fund is in between the Floor and Ceiling, then every Settlement Class Member with an Approved Claim will receive $500 per call. Only when the Settlement Fund reaches the Ceiling will Settlement Class Members with an Approved Claim receive a pro rata share of the Settlement Fund after payment of the Fee Award, incentive awards, and Settlement Administration Expenses. (c) The Settlement Administrator shall pay a pro rata portion of from the Net Settlement Fund for all Approved Claims through payment (a) by check with said checks being sent via first first-class U.S. mail; or (b) by electronic means via Paypal or Venmo, upon election of mail to the Settlement Class Member, which the Parties agree to make available as alternative payment optionsMembers who submitted all such Approved Claims. Payments A first round of payments to all Settlement Class Members with Approved Claims shall be made within ninety one-hundred eighty (90180) days after of the Effective Date. The second and final round of payments to all Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days of the final payment into the Settlement Fund. 2.1.3(d) The ratio of the first installment to the second installment shall be the same as the ratio of $30 million to the total Settlement Fund minus $30 million. For example, if the total Settlement Fund is $56 million, each Settlement Class Member with an Approved Claim will receive 54% of their total share based on the number of valid calls received in the first installment, and 46% of their total share in the second installment. If the total Settlement Fund is $76 million, each Settlement Class Member will receive 39% of their total share based on the number of valid calls received in the first installment and 61% of their total share in the second installment. The Fee Award and Settlement Administration Expenses (other than the Settlement Administrator’s costs of providing Notice) will be paid in two installments in the same way. (e) All cash payments issued to Settlement Class Members via check will state on the face of the check that it the check will expire and become null and void unless cashed within one hundred and eighty ninety (18090) days after the date of issuance. To the extent that any . (f) Any un-cashed 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 distributionfirst round of payments made in accordance with this Agreement, but only to the extent each Settlement Class Member would receive at least $5.00 as well as any unclaimed funds remaining 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 Accountafter payment of all Approved Claims, all risk of loss with respect Settlement Administration Expenses, the Fee Award to Class Counsel, and the incentive awards to the cash portion Class Representatives shall be distributed to Settlement Class Members with Approved Claims in the second round of payments. Any un-cashed checks issued to Settlement Class Members during the second and final round of payments made in accordance with this Agreement, as well as any unclaimed funds remaining in the Settlement shall pass Fund after payment of all Approved Claims, all Settlement Administration Expenses, the Fee Award to Class Counsel, and the incentive awards to the Escrow Account, Class Representatives shall be distributed to an appropriate cy pres recipient selected by the Special Master upon recommendation from counsel for the Parties and any and all remaining interest or right of Defendant in or the Settlement Class Members by email to the Escrow Account, if any, shall be extinguishedSettlement Administrator as indicated in the Notice.

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant (a) Hearst shall pay or cause to be paid into the Escrow Account establish the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, Fund within thirty twenty-eight (3028) days after Preliminary Approval. 2.1.2. (b) Settlement Class Members shall have until the Claims Deadline to submit Claim Forms. Only one valid Claim Form will be honored per unique telephone number that received Telephone Calls. Each Settlement Class Member who submits an Approved Claim. The Settlement Administrator Claim shall pay be entitled to a payment of a pro rata portion share of the Net amount remaining in the Settlement Fund for all Approved Claims through based upon the number of telephone calls he or she received up to $500.00 per call, and after 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 Administration Expenses, any incentive award to the Class Members with Representative, and any Fee Award to Class Counsel. The payment for each Approved Claims Claim will be increased or decreased depending on the total number of Approved Claims, but shall be made within not exceed $500.00 per call. (c) Within ninety (90) days after the Effective Date, or such other date as the Court may set, the Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check and send said checks via first-class U.S. mail to the Settlement Class Members who submitted all such Approved Claims. 2.1.3. (d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it the check will expire and become null and void unless cashed within one hundred and eighty ninety (18090) days after the date of issuance. To the extent that any . (e) Any un-cashed checks issued to a Settlement Class Members in accordance with this Agreement, as well as any unclaimed funds remaining in the Settlement Fund after payment of all Approved Claims, all Settlement Administration Expenses, the Fee Award to Class Counsel, and the incentive award to the Class Representative shall be distributed to Settlement Class Members with Approved Claims if practicable, provided, however, that in no event shall the total amount distributed to any Settlement Class Member are not cashed within one-hundred eighty (180including any amounts distributed to that Settlement Class Member pursuant to Provision 2.1(b)) days exceed $1,500.00 per call. (f) In the event that (i) monies remain in the Settlement Fund following the distributions identified in Provisions 2.1(b) and (e) above, or (ii) the sum remaining after the date distribution identified in Provision 2.1(b) is limited such that the redistribution identified in Provision 2.1(e) is not practicable (e.g., the amounts remaining and to be redistributed to individual class members are less than the cost of issuancemailing additional checks), such uncashed check the remaining 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 disbursed to a non-sectarian and/or not-for-profit charitable organization recommended agreed upon by Class Counsel the Settling Parties and approved by the Court, or as otherwise directed 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.

Appears in 2 contracts

Sources: Class Action Settlement Agreement, Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant shall pay or cause Only Settlement Class Members who submit Approved Claims during the Claims Period will receive a payment under the Settlement. a) The Claims Period will run from 90 days after the Notice Deadline. b) Settlement Class Members may submit a Claim Form to be paid into the Escrow Account the Settlement Amount, as specified Administrator electronically through the Settlement Website or by mail to the Settlement Administrator. Claim Forms must be submitted electronically or postmarked before midnight on the final day of the Claims Period. All Claim Forms must be submitted during the Claims Period and in Paragraph 1.31 of the manner set forth in this Agreement, within thirty (30) days after Preliminary Approval. 2.1.21. Settlement Class Members shall have until the Claims Deadline to submitting a Claim Form must submit an Approved Claimaccurate and complete Claim Form, attested to under penalty of perjury, and supporting documentation as needed, to the Settlement Administrator. 2. In its discretion, to be reasonably exercised, the Settlement Administrator will review all Claim Forms submitted. The Settlement Administrator shall pay may require supplementation of a pro rata portion of the Net Settlement Fund for all Approved Claims through payment (a) by check via first class U.S. mail; completed Claim Form or (b) by electronic means via Paypal additional information needed to validate 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 issuanceaudit a claim. To the extent that any checks issued to a Settlement Class Member are not cashed within one-hundred eighty (180) days after fails to provide any supplementation or additional information if requested, the date Settlement Administrator may determine that the Settlement Class Member failed to submit a valid claim and therefore reject that claim. 3. The Settlement Administrator will process valid claims 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 and distribute payments during after the initial distribution, but only Effective Date in accordance with the terms of this Agreement. c) The Settlement Administrator will pay Approved Claims in the following manner: i. Settlement Class Members will receive a payment of $150.00 (“Cash Payment”) by filing a claim and submitting an attestation to the extent each Settlement Administrator confirming that they believe that they have suffered any harm associated with the Data Incident, including but not limited to the following types of harm: time spent dealing with the Data Incident, loss of confidences, loss of their PII/PHI, and/or emotional distress. ii. Settlement Class Member would receive at least Members will be able to submit a claim for reimbursement for out-of-pocket losses (“Out-of-Pocket Expenses”) reasonably traceable to the Data Incident of up to $5.00 in 2,000 per individual Settlement Class Member, inclusive of any such secondary distribution claim for the Cash Payment under subsection (1). To claim this benefit, Settlement Class Members will be required to provide documentation, and if otherwise feasible. affirm under penalty of perjury their belief that the claimed losses are due to the Data Incident. d) To the extent each the Total Settlement Class Member would receive Compensation at the end of the Claims Period is less than the amount of $5.00 800,000.00, the Approved Claims for Cash Payments or Out-of-Pocket Expenses shall all be increased 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 Courtamount pro rata. 2.1.4. Upon payment e) To the extent the Total Settlement Compensation at the end of the Settlement Fund into Claims Period is more than the Escrow Accountamount of $1,200,000.00, the Approved Claims for Cash Payments or Out-of-Pocket Expenses shall 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 be decreased in or to the Escrow Account, if any, shall be extinguishedamount pro rata.

Appears in 1 contract

Sources: Settlement Agreement

Payments to Settlement Class Members. 2.1.1. (a) Within forty-five (45) days after the Court’s entry of the Preliminary Approval Order, Defendant shall pay or cause to be paid into the Escrow Account half of the Settlement Amount, as specified in Paragraph 1.31 Amount ($100,000) and the remaining half ($100,000) will be deposited within 10 days of this Agreement, within thirty (30) days after Preliminary Approvalentry of the Court’s Final Approval Order. 2.1.2. (b) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. A maximum of one claim (covering all Service Fees paid by a single Settlement Class Member from August 29, 2022, to and through May 3, 2024), submitted on a single Claim Form, may be submitted by each Settlement Class Member. Each Settlement Class Member with an Approved Claim shall be entitled to receive as a Cash Award 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. Proration of amounts due to Settlement Class Members with Approved Claims shall be determined no later than sixty (60) days after the judgment becomes Final. (c) The Settlement Administrator shall pay a pro rata portion of from the Net Settlement Fund for all Cash Awards to those Settlement Class Members with Approved Claims through payment (a) by check via first class U.S. mail; or (b) by electronic means via Paypal or Venmopayment, upon election of at the Settlement Class Member, which the Parties agree to make available as alternative payment options’s election. Payments of Cash Awards to all Settlement Class Members with Approved Claims shall be made within ninety (90) days after the Effective Datejudgment becomes Final. 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 (180d) days after the date of issuance. To the extent that any checks issued to a Settlement Class Member are Members do not cashed claim their Cash Awards within one-one hundred eighty (180) days after the date of issuanceCash Awards are distributed in accordance with Section 2.1(c), such uncashed check Settlement Class Members shall have waived their right to a Cash Award and any unclaimed funds shall be redistributed on a pro rata basis (after first deducting any necessary settlement administration expenses from such uncashed check unclaimed 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. claimed their payments. (e) 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 unclaimed funds shall, subject to Court approval, revert to the Legal Aid Society, a non-sectarian and/or sectarian, not-for-profit organization recommended by Class Counsel and approved by for- (f) Subject to the Court. 2.1.4. Upon payment provisions pertaining to the termination or cancellation of the Settlement, as set forth in Paragraph 9, no portion of the Settlement Fund into the Escrow Account, all risk of loss with respect shall revert back 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 extinguishedDefendant.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant DocuSign Envelope ID: B979016B-909C-43B9-B843-D868BCF26B15 DocuSign Envelope ID: 1209863E-8E63-46C6-882D-0CF053D3FBBD (a) Within ten (10) days of entry of the Preliminary Approval Order, Defendants shall pay or cause to be paid into the Escrow Account the sum of Twenty Thousand Dollars ($20,000.00), which shall be used to fund the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, within thirty (30) days after Preliminary ApprovalAdministration Expenses to the Settlement Administrator. 2.1.2. (b) Settlement Class Members shall have until the Claims Deadline to submit a Claim Form for approval by the Settlement Administrator as an Approved Claim. Each Settlement Class Member who submits an Approved Claim will receive a Settlement Payment. (c) Within five (5) days of the Effective Date, Defendants shall deposit into the Escrow Account: (1) The Total Settlement Payments; (2) the Fee Award to Class Counsel; (3) the Incentive Award to Plaintiff; and (4) any amount remaining to fund the Settlement Administration Expenses after deducting the Twenty Thousand Dollars ($20,000.00) payment (or the amount used to fund the the Settlement Administration Expense through the Effective Date) referenced in Paragraph 2.1(a), infra. Any amounts remaining in the Settlement Fund after distribution of payments in this section shall revert to Defendant or its insurer(s). (d) Defendants shall provide a Settlement Class Member’s social security number, if known, to the Settlement Administrator for settlement administration or tax purposes, upon request and in the event deemed necessary by the Settlement Administrator. (e) 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 issue 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 Payments via check and will state on the face of the check that it will expire and become null and void unless cashed within one hundred and eighty ninety (18090) days after the date of issuance. To the extent that any checks If a check issued to a Settlement Class Member are is not cashed negotiated within one-hundred eighty ninety (18090) 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, be deemed void and such cashed check funds shall revert to a non-sectarian and/or not-for-profit organization recommended by Class Counsel and approved by the CourtDefendants or their insurer(s). 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.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant (a) Defendants shall pay or cause to be paid into the Escrow Account the amount of the Settlement Amount, as specified in Paragraph 1.31 Fund ($339,825) upon the latest of the following: (a) twenty-one (21) calendar days after the entry of the Preliminary Approval Order and (b) Defendants’ receipt of Settlement Administrator instructions and a Form W-9 for the Settlement Administrator. Provided that Final Approval of this AgreementSettlement Agreement is granted by the Court without material change, within thirty material amendment, or material modification, the Settlement Fund will be used to satisfy all claims for Settlement Class Members, the Fee Award, the Incentive Award, and Settlement Administrator Expenses in (30b) days after Preliminary Approval. 2.1.2. Settlement Class Members shall have until the Claims Deadline to submit a Claim Form for approval by the Settlement Administrator as an Approved Claim. Each Settlement Class Member who submits an Approved Claim will receive a Settlement Payment. (c) Within seven (7) days of the Effective Date, the Settlement Administrator shall: (1) send the Settlement Payments to Settlement Class Members who did not submit an exclusion request and who submitted an Approved Claim, including Plaintiff, by first class U.S. Mail equal to each Settlement Class Member’s pro rata share of the Net Settlement Fund.; (2) pay the Fee Award to Class Counsel, if any, from the Settlement Fund; (3) pay the Incentive Award to Plaintiff, if any, from the Settlement Fund; (4) pay the Settlement Administrator’s Expenses (providing an invoice for same to Class Counsel and Defendant’s Counsel for review and approval prior to issuing such payment) from the Settlement Fund and (5) pay all funds, if any, remaining in the Settlement Fund after payment of items (1) – (4) above, including without limitation all unclaimed funds and uncashed checks that are not cashed by any Settlement Class Member within 120 days after issuance, to Defendants or their insurers by mailing a check for any such remaining funds to Defendants’ counsel ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ of ▇’▇▇▇▇▇ ▇▇▇▇▇ LLC, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Suite 3400, Chicago, Illinois (“Unclaimed Funds”). The payment for the Unclaimed Funds shall be made out to Defendants or their insurers but shall be mailed to Defendants’ Counsel. The Settlement Payment to each Settlement Class Member and to Plaintiff is not subject to any withholdings, and the Settlement Administrator shall issue Class Members an IRS Form 1099 (marked “Other Income”), if applicable. Class Members acknowledge that the Settlement Administrator must report to the IRS (as well as state and local taxing authorities where applicable) the payment made to them under this Settlement Agreement and that it is each Class Member’s individual responsibility to make tax payments on these amounts, if applicable. (d) Defendants shall provide a Settlement Class Member’s social security number to the Settlement Administrator for settlement administration or tax purposes, upon request and in the event deemed necessary by the Settlement Administrator. (e) 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 issue 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 Payments via check and will state on the face of the check that it will expire and become null and void unless cashed within one hundred and eighty twenty (180120) days after the date of issuance. To the extent that any checks If a check issued to a Settlement Class Member are is not cashed negotiated within one-one hundred eighty and twenty (180120) days after the date of issuance, such uncashed checks shall be deemed void and such cashed 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 Defendants or their insurers. At the conclusion of the 120-day period, the Settlement Administrator shall provide a non-sectarian and/or not-for-profit organization recommended by Class report of the number of any settlement checks that are not then cashed/negotiated to Counsel and approved by for the CourtParties. 2.1.4(f) If the Settlement Agreement is not finally approved, the Settlement Fund less any Administrative Expenses accrued to date, shall be returned to Defendant or its insurer(s) within thirty (30) days thereof. Upon payment Plaintiff shall have no financial responsibility for any Administrative Expenses paid out of the Settlement Fund into in the Escrow Account, all risk of loss with respect to the cash portion of event that 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 extinguishedAgreement is not finally approved.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. (a) No later than 120 days after this Agreement is fully executed, Defendant shall pay or cause to be paid the Settlement Amount into the Escrow Account the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, within thirty (30) days after Preliminary ApprovalAccount. 2.1.2. (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 receive as a Cash Award 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. Proration of amounts due to Settlement Class Members with Approved Claims shall be determined no later than 60 days after entry of a Final Judgment. (c) The Settlement Administrator shall pay a pro rata portion of from the Net Settlement Fund for all Cash Awards to those Settlement Class Members with Approved Claims through payment (a) by check via first class U.S. mail; or (b) by electronic means via Paypal or Venmopayment, upon election of at the Settlement Class Member, which the Parties agree to make available as alternative payment options’s election. Payments of Cash Awards to all Settlement Class Members with Approved Claims shall be made within ninety (90) days after the Effective Dateentry of a Final Judgment. 2.1.3. All cash payments issued to (d) To the extent that any Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed do not claim their Cash Awards within one hundred and one-hundred-eighty (180) days after the date of issuance. To the extent that any checks issued Cash Awards are distributed in accordance with Paragraph 2.1(b), such Settlement Class Members shall have waived their right to a Settlement Class Member are not cashed within one-hundred eighty (180) days after the date of issuance, such uncashed check Cash Award and any unclaimed funds shall be redistributed on a pro rata basis (after first deducting any necessary settlement administration expenses from such uncashed check unclaimed funds) to all Settlement Class Members who cashed checks or received electronic payments during claimed their payments, not to exceed the initial distribution, but only to the extent each Settlement Class Member would receive at least $5.00 in Individual Out-of-Pocket Fees paid by any such secondary distribution and if otherwise feasible. Class Members. (e) 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 unclaimed funds shall, subject to Court approval, revert to the Legal Aid Society, a non-sectarian and/or sectarian, not-for-profit organization recommended by Class Counsel and approved by for- (f) Subject to the Court. 2.1.4. Upon payment provisions pertaining to the termination or cancellation of the Settlement Agreement, as set forth in Paragraph 9, no portion of the Settlement Fund into the Escrow Account, all risk of loss with respect shall revert back 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 extinguishedDefendant.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant (a) Defendants shall pay or cause to be paid into the Escrow Account the amount of the Settlement AmountFund ($16,000,000.00 USD), as specified in Paragraph 1.31 1.32 of this Agreement, within thirty twenty-eight (3028) days after Preliminary Approval. 2.1.2. (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 cash payment in an amount reflecting the pro rata portion of the Settlement Fund after deducting the Settlement Administration Expenses, any Fee Award, and any incentive award. (c) The Settlement Administrator shall pay a pro rata portion of from the Net Settlement Fund for all Approved Claims through by electronic payment (a) by or check with said checks being sent via first class U.S. mail; or (b) by electronic means via Paypal or Venmo, upon election of mail to the Settlement Class Member, which the Parties agree to make available as alternative payment optionsMembers who submitted such Approved Claims. Payments to all Settlement Class Members with Approved Claims shall be made within ninety all (90d) 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 the Future of Privacy Forum, a non-sectarian and/or not-forsectarian, non-profit organization organization, recommended by Class Counsel and approved by the Court. 2.1.4. (e) 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.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant Settlement Class Member Payments shall pay or cause be calculated as follows: (Net Settlement Fund/Total Retry Fees) x Total Number of Retry Fees charged to be and paid into the Escrow Account the by each Settlement Amount, as specified in Paragraph 1.31 of this Agreement, within thirty (30) days after Preliminary ApprovalClass Member = Settlement Class Member Payment. 2.1.2. (1) 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. Member Payments to all Settlement Class Members with Approved Claims shall be made within ninety thirty (9030) days after the Effective Date., as follows: 2.1.3. All cash payments issued to A. For Settlement Class Members via check will state on who are Current Account Holders at the face time of the check that it will expire and become null and void unless cashed within one hundred and eighty (180) days after distribution of the date Net Settlement Fund, a credit in the amount of issuance. To the extent that any checks issued to a Settlement Class Member Payment shall be applied to any Account they are maintaining at Defendant which is individually titled in that Settlement Class Member’s name (or Settlement Class Members’ names if the subject Settlement Class Member Payment is owing jointly to more than one Settlement Class Member), such account shall be credited in the amount of the Settlement Class Member Payment. If Defendant is unable to complete certain credit(s), then Defendant shall deliver the total amount of such unsuccessful Settlement Class Member Payments to the Settlement Administrator to be paid by check in accordance with Section 8(iv)(1)(B), below. B. For those Settlement Class Members who are not cashed within able to receive a credit as provided for in Section 8(iv)(1)(A), above, they shall be sent a check by the Settlement Administrator in the amount of their Settlement Class Member Payment at the address used to provide the Notice, or at such other address as designated by the Settlement Class Member. For jointly held Accounts, checks will be payable to all customers on the Account, and will be mailed to the first customer listed on the Account. The Settlement Administrator shall make reasonable efforts to locate the proper address for any check returned by the Postal Service as undeliverable and will re-mail it once to the updated address or, in the case of a jointly held Account, and in the Settlement Administrator’s discretion, to an Account owner other than the one listed first. The Settlement Class Member shall have one-hundred eighty (180) days to negotiate the check. Any checks uncashed after the date of issuance, such uncashed check funds one-hundred eighty (180) days shall be redistributed on a pro rata basis distributed pursuant to Section 11. C. Notwithstanding Sections 8(iv)(1)(A) and (after first deducting any necessary settlement administration expenses from such uncashed check funds) to all B), above, for those Settlement Class Members with negative balances or who cashed checks or received electronic payments during the initial distributionotherwise owe money to Defendant, but only Defendant may credit that Settlement Class Member’s principal balance due, in lieu of tender of their Settlement Class Member Payment to the extent each Settlement Class Member would receive at least $5.00 in any of 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 Courtbalance due. 2.1.4. Upon payment (2) In no event shall any portion of the Settlement Fund into the Escrow Account, all risk of loss with respect revert 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 extinguishedDefendant.

Appears in 1 contract

Sources: Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant The amount paid to each Settlement Class Member shall pay or cause be calculated as follows: a. The Net Settlement Fund shall be allocated to be paid into the Escrow Account members of 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 Classes on a pro rata portion basis, as follows: (1) 80% of the Net Settlement Fund for all Approved Claims through payment shall be allocated to the APPSN Fee Settlement Class; and (a2) by check via first class U.S. mail; or (b) by electronic means via Paypal or Venmo, upon election 20% of the Net Settlement Class Member, which the Parties agree Fund shall be allocated to make available as alternative payment options. Retry Fee Settlement Class. b. Payments to all Settlement Class Members with Approved Claims those members of the Classes (“Individual Payments”) shall be made within ninety no later than ten (9010) days after the Effective Date, as follows: (1) For those Class Members who are members of Defendant at the time of the distribution of the Net Settlement Fund, their individual checking or savings accounts shall be credited in the amount of the Individual Payment they are entitled to receive. 2.1.3. All cash payments issued to Settlement (2) For those Class Members via check will state on who are not members of Defendant at the face time of the distribution of the Net Settlement Fund, they shall be sent a check that it will expire and become null and void unless cashed within one hundred and eighty (180) days after by the date of issuanceClaims Administrator at the address used to provide the Notice, or at such other address as designated by the Class Member. To the extent that any checks issued to a Settlement The Class Member are not cashed within shall have one-hundred eighty (180) days to negotiate the check. Any checks uncashed after the date of issuance, such uncashed check funds one-hundred eighty (180) days shall be redistributed distributed to Class Members on a pro pro-rata basis if practical. Otherwise, any residual shall be distributed pursuant to Section 11. (after first deducting any necessary settlement administration expenses from such uncashed check funds3) to all Settlement Class Members who cashed checks or received electronic payments during of the initial distribution, but only APPSN Fee Class shall be paid per incurred APPSN Fee calculated as follows: (0.8 of the Net Settlement Fund/Total APPSN Fees) x Total number of APPSN Fees charged to the extent and paid by each APPSN Fee Class member; Settlement Class Member would receive at least $5.00 in Members of the Retry NSF Fee Class shall be paid per Retry NSF Fee calculated as follows: (0.2 of the Net Settlement Fund/Total Retry NSF Fees) x Total number of Retry NSF Fees charged to and paid by each Retry NSF Fee Class member; c. In no event shall 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 portion of the Settlement Fund into the Escrow Account, all risk of loss with respect revert 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 extinguishedDefendant.

Appears in 1 contract

Sources: Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant (a) Spring-Fill Industries shall pay or cause to be paid into the Escrow Account the amount of the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, Fund ($110,000) within thirty twenty-one (3021) days after the entry of the Preliminary ApprovalApproval Order. 2.1.2. Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. (b) The Settlement Administrator shall pay issue a pro rata portion distribution 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 who are successfully delivered Notice and who do not timely exclude themselves from the Settlement Class. This distribution to Settlement Class Members will be made within ninety in the form of a check mailed for Settlement payments to each Settlement Class Members’ last known address as reflected by Spring-Fill Industries’ 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. (90c) Within ten (10) days after 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). 2.1.3. (d) Spring-Fill Industries shall provide a Settlement Class Member’s social security number to the Settlement Administrator for settlement administration/tax purposes (provided that Spring-Fill Industries has such information within its immediate possession and control), upon request and in the event deemed necessary by the Settlement Administrator. (e) All cash payments checks 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 ninety (18090) days after the mailing 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 court approval, revert to a non-sectarian and/or not-for-profit organization recommended by Class Counsel and approved by the CourtDefendant. 2.1.4. Upon payment (f) Any share of the Net Settlement Fund into attributed to an individual in the Escrow Account, all risk of loss with respect Settlement Class who has been successfully excluded will revert 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 extinguishedDefendant.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1(a) Settlement Class Members may elect to either: i. Do nothing and be bound by the settlement terms; ii. Defendant shall pay File a valid claim and receive a $5.00 cash payment in the form of a check, or cause to be paid into the Escrow Account electronic payment via Venmo, PayPal, or Zelle, at the Settlement AmountClass Member’s election and be bound by the settlement terms; iii. File a valid claim and receive a $10.00 Fandango at Home Voucher, as specified in Paragraph 1.31 which shall expire no earlier than one year from the date of this Agreementissuance, within thirty (30) days after Preliminary Approvaland be bound by the settlement terms; or iv. Opt out of the settlement. 2.1.2(b) Settlement Class Members wishing to receive a $5.00 cash payment must make an election to receive cash by submitting a valid Claim Form to the Settlement Administrator. Settlement Class Members shall have until the Claims Deadline to submit a Claim Form for approval by the Settlement Administrator as an Approved Claim. The Each Settlement Administrator shall pay Class Member who submits an Approved Claim for a pro rata portion cash payment will receive a $5.00 payment in the form of a check, or electronic payment via Venmo, PayPal, or Zelle, at the Settlement (c) Within fourteen (14) days of the Net Settlement Fund for all Final Judgment, Defendant shall establish a fund containing its anticipated payment of any Approved Claims through payment for Cash Payments (athe “Cash Payment Fund”). Within ten (10) by check via first class U.S. mail; or (b) by electronic means via Paypal or Venmo, upon election business days of the Settlement Class MemberEffective Date, which the Parties agree to make available as alternative payment options. Payments to all Defendant shall wire the (d) Settlement Class Members wishing to receive a $10.00 Fandango at Home Voucher must make an election to receive a voucher by submitting a valid Claim Form to the Settlement Administrator. Settlement Class Members have until the Claims Deadline to submit a Claim Form for approval by the Settlement Administrator as an Approved Claim. Each Settlement Class Member who submits an Approved Claim for a Fandango at Home Voucher will receive a voucher by email from the Settlement Administrator. In a timely manner, as requested by the Settlement Administrator, Defendant will provide the Settlement Administrator with promotional codes for each Settlement Class Member who submits an Approved Claims shall Claim for the Fandango at Home Voucher. Fandango at Home Vouchers will be made issued to Settlement Class Members within ninety (90) 30 days after of the Effective Date. 2.1.3. All cash payments issued to Settlement Class Members via check will state on the face (e) A maximum 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 issuanceclaim, such uncashed check funds shall be redistributed submitted 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 distributionsingle Claim Form, but only to the extent may be submitted by 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 CourtMember. 2.1.4. Upon payment of (f) In no event shall the total out-of-pocket costs paid by Defendant exceed the Settlement Fund into Cap. In the Escrow Accountevent that the total amount of Approved Claims, all risk of loss with respect to plus the cash portion of Fee Award, the Settlement shall pass to the Escrow AccountAdministration Expenses (including taxes), and any and all remaining interest or right the Service Awards exceed the Settlement Cap, then the amount of Defendant in or to the Escrow Account, if any, each Approved Claim shall be extinguishedreduced pro rata.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. Defendant (a) Dart Casting, Inc. 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 amount 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 Fund ($265,500.00) within ninety thirty-five (9035) days after the Effective Date. 2.1.3(b) The Settlement Administrator shall issue a pro rata distribution of the Net Settlement Fund to all Settlement Class Members who are successfully delivered Notice and 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 Dart Casting, 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 forty-five (45) 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) Dart Casting, 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 cash payments checks 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 ninety (18090) days after the date of issuancemailing date. To the extent that any checks If a check issued to a Settlement Class Member are is not cashed within one-hundred eighty ninety (18090) days after the date of issuancemailing date, 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 be paid back to a non-sectarian and/or not-for-profit organization recommended by Class Counsel Dart Casting, Inc. and approved by the Court. 2.1.4. Upon payment of the Settlement Fund into the Escrow AccountDart Casting, all risk of loss with respect Inc. shall have no further financial obligations as to the Class Members who do not 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 extinguishedtheir checks.

Appears in 1 contract

Sources: Class Action Settlement Agreement

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 (30a) 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 or cause to be paid from the Settlement Fund the sum of One Hundred and Seventy-Five Dollars ($175.00) to each Settlement Class Member who files an Approved Claim, subject to a possible pro rata increase or reduction as follows. If the total amount required to pay One Hundred and Seventy-Five Dollars ($175.00) for each Approved Claim would exceed the amount remaining in the Settlement Fund after payment of all Settlement Administration Expenses, the incentive award to the Class Representative, and the Fee Award to Class Counsel, then each Settlement Class Member with an Approved Claim shall receive a pro rata portion share of the Net Settlement Fund remaining after payment of such amounts. Conversely, in the event that any amounts remain in the Settlement Fund after allocating One Hundred and Seventy-Five Dollars ($175.00) for each Approved Claim and payment of all Settlement Administration Expenses, the incentive award to the Class Representative, and the Fee Award to Class Counsel, then each Settlement Class Member with an Approved Claims through payment (a) by check via first class U.S. mail; or Claim shall receive a pro rata increase to their settlement payment, up to an amount not to exceed the statutory maximum amount allowed under M.C.L. § 445.1715(a). To the extent any funds remain after accounting for such increased settlement payments, then such funds shall, subject to Court approval, revert to the Michigan Bar Foundation’s Access to Justice Fund. (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 Within forty-five (9045) days after the Effective DateDate has occurred, or such other date as the Court may set, the Settlement Administrator shall pay from the Settlement Fund Approved Claims by check and mail them to the claiming Settlement Class Members via first- class mail, unless payment of such Claims is under challenge pursuant to Paragraph 5.3 below. 2.1.3. (c) 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 ninety (18090) days after the date of issuance. To the extent that any checks a check issued to a Settlement Class Member are is not cashed within one-hundred eighty ninety (18090) 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 CourtMichigan Bar Foundation’s Access to Justice Fund. 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.

Appears in 1 contract

Sources: Class Action Settlement Agreement

Payments to Settlement Class Members. 2.1.1. (a) Within thirty (30) days after entry of the Preliminary Approval Order, Defendant shall pay or cause to be paid $275,000 into the Escrow Account the Settlement Amount, as specified in Paragraph 1.31 of this Agreement, within Account. (b) Within thirty (30) days after Preliminary Approvalentry of the Court’s Final Approval Order, Defendant shall pay or cause to be paid the remaining $275,000 into the Escrow Account. 2.1.2. (c) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. The A maximum of one claim, submitted on a single Claim Form, may be submitted by each Settlement Administrator Class Member. Each Settlement Class Member with an Approved Claim shall pay be entitled to receive as a Cash Award a pro rata portion of payment from the Net Settlement Fund Fund. The pro rata payment 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 each Settlement Class Member will be equal to that Settlement Class Member, which ’s Out-of-Pocket Percentage multiplied by the Parties agree Available Settlement Fund. Proration of amounts due to make available as alternative payment options. Payments to all Settlement Class Members with Approved Claims shall be made within ninety determined no later than sixty (9060) days after the Effective Datejudgment becomes Final. 2.1.3. All cash payments issued (d) The Settlement Administrator shall pay from the Settlement Fund all Cash Awards to those Settlement Class Members via with Approved Claims by 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 or electronic (180e) days after the date of issuance. To the extent that any checks issued to a Settlement Class Member are Members do not cashed claim their Cash Awards within one-one hundred eighty (180) days after the date of issuanceCash Awards are distributed in accordance with Section 2.1(d), such uncashed check Settlement Class Members shall have waived their right to a Cash Award and any unclaimed funds shall be redistributed on a pro rata basis (after first deducting any necessary settlement administration expenses from such uncashed check unclaimed 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. claimed their payments. (f) 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 unclaimed funds shall, subject to Court approval, revert to the Legal Aid Society, a non-sectarian and/or sectarian, not-for- profit organization, or another non-sectarian, not-for-profit organization recommended organization(s) agreed by Class Counsel both Parties and approved by the Court. 2.1.4. Upon payment (g) Subject to the provisions pertaining to the termination or cancellation of the Settlement, as set forth in Paragraph 9, no portion of the Settlement Fund into the Escrow Account, all risk of loss with respect shall revert back 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 extinguishedDefendant.

Appears in 1 contract

Sources: Class Action Settlement Agreement