PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND Sample Clauses

PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. The Settlement Amount and the interest it earns is the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the “Net Settlement Fund.” The Net Settlement Fund will be distributed to members of the Class who timely submit valid Claim Forms that show a Recognized Claim according to the Plan of Allocation approved by the Court. The Court may approve the following proposed Plan of Allocation or modify it without additional notice to the Class. Any order modifying the Plan of Allocation will be posted on the case website at: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇. The purpose of this Plan of Allocation of the Net Settlement Fund (“Plan of Allocation” or “Plan”) is to establish a reasonable and equitable method of distributing the Net Settlement Fund among Authorized Claimants who allegedly suffered economic losses as a result of the alleged violations of the federal securities laws. For purposes of determining the amount an Authorized Claimant may recover under this Plan, Class Counsel have conferred with their damages expert. This Plan is intended to be generally consistent with an assessment of, among other things, the damages that Class Counsel and Class Representatives believe were recoverable in the Action. Defendants, however, deny any wrongdoing or damages; and the Plan is not a formal damages analysis and the calculations made pursuant to the Plan are not intended to be estimates of, nor indicative of, the amounts that Class Members might have been able to recover after a trial. An individual Class Member’s recovery under the Plan of Allocation will depend on, for example: (i) the total number of claims submitted and the value of those claims; (ii) when the Class Member purchased or acquired LSI publicly traded common stock; and (iii) whether and when the Class Member sold his, her, or its shares of LSI common stock. Because the Net Settlement Fund is less than the total losses alleged to be suffered by Class Members, the formulas described below for calculating Recognized Losses are not intended to estimate the amount that will actually be paid to Authorized Claimants. Rather, these formulas provide the basis on which the Net Settlement Fund will be distributed among Authorized Claimants on a pro rata basis. An Authorized Claimant’s Recognized Claim shall be the amount used ...
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PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. As discussed above, the Settlement provides $30,000,000 in cash for the benefit of the Settlement Class. The Settlement Amount and any interest it earns constitute the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and Litigation Expenses, Notice and Administration Costs, Taxes, and any other fees or expenses approved by the Court, is the “Net Settlement Fund.” If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimants, i.e., members of the Settlement Class who timely submit valid Claim Forms that are accepted for payment by the Court, in accordance with a plan of allocation to be adopted by the Court. Settlement Class Members who do not timely submit valid Claim Forms will not share in the Net Settlement Fund, but will otherwise be bound by the Settlement.
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PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. 6.1 Unless otherwise agreed by the parties, within sixty (60) days after preliminary approval, Cincinnati B▇▇▇ shall provide the Administrators or their designee with the following information pertaining to the account(s) in the Plans of each member of the Settlement Class as identified and maintained in the records of the Plans: a. The Claimant’s name, last known address, and social security number; b. The information necessary to make the calculations in Section 6.2 below. If precise data is not readily available, the parties shall meet and confer regarding the data that will be used. This information shall include for each claimant: (a) the account balance in U.S. dollars invested in the Company Shares Fund, Cincinnati B▇▇▇ stock, or Broadwing stock at the beginning of the Class Period; (b) the dollar value of purchases of Cincinnati B▇▇▇ stock, Broadwing stock, or shares of the Employer Stock Fund during the Class Period; (c) the dollar value of sales of Cincinnati B▇▇▇ stock, Broadwing stock, or shares of the Company Stock fund during the Class Period; and (d) the account balance in U.S. dollars invested in Cincinnati B▇▇▇ stock, Broadwing stock, or the Company Shares Fund as of the end of the Class Period. c. Whether the Claimant is a current participant in either Plan as of the most recent date for which such information is reasonably available. 6.2 Within thirty (30) days of Final Approval, the Administrators shall calculate the Claimants’ Settlement Claims based on the information described in Section 6.1 and according to the following court approved-methodology: a. For Participant Claimants, the Administrators shall determine the approximate loss (“Loss”) for each member of the Settlement Class as follows: Loss = A + B – C – D, where, for each member’s Account: 1. A = the dollar value, if any, of the balance in Cincinnati B▇▇▇ or Broadwing stock on the first day of the Settlement Class Period; 2. B = the dollar value, if any, of all of the purchases of Cincinnati B▇▇▇ or Broadwing stock during the Settlement Class Period as of the time of purchase(s); 3. C = the dollar value, if any, of all sales of stock during the Settlement Class Period as of the time of the sale(s); and 4. D = the dollar value, if any, of Cincinnati B▇▇▇ or Broadwing stock remaining on the last day of the Settlement Class Period. b. For Former Participant Claimants, the Administrators shall determine the approximate loss (“Loss”) for each member of the Settlement Class as fol...
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PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. 6.1 Unless otherwise agreed by the parties, within sixty (60) days after filing this Agreement, the Defendants shall provide the Administrators or their designee with the following information pertaining to the account(s) in the Plans of each member of the Settlement Class as identified and maintained in the records of the Plans: a. The Claimant’s name, last known address, and social security number; b. The information necessary to make the calculations in Section 6.2 below. If precise data is not readily available, the parties shall meet and confer regarding the data that will be used. This information shall include for each Claimant: (a) the account balance in U.S. dollars invested in Xcel stock at the beginning of the Class Period; (b) the dollar value of purchases of Xcel stock during the Class Period; (c) the dollar value of sales of Xcel stock during the Class Period; and (d) the account balance in U.S. dollars invested in Xcel stock as of the end of the Class Period. c. Whether the Claimant is a current participant in either Plan as of the most recent date for which such information is reasonably available. 6.2 Within thirty (30) days of Final Approval, the Administrators shall calculate the Claimants’ Settlement Claims based on the information described in Section 6.1 and according to the following court approved-methodology: a. The Administrators, with the assistance of Xcel, if necessary, shall determine the approximate loss (“Loss”) for each member of the Settlement Class as follows: A = (Value of (50% of the number of shares that had been held in the Plans on September 23, 1999 [Adjusted for the 1.55/share exchange of Xcel for NCE shares at the time of merger], valued at the December 4, 2001 closing price/share of $27.56)) less (Value of those same shares on the earlier of the March 31, 2003 closing price of $12.82/share or Participant’s last day of participation in Company Stock Fund at the closing price on that day) B = (Purchase price of all company stock purchased from September 23, 1999 through March 31, 2003) less (Value of all this purchased company stock still held on the earlier of March 31, 2003 or Participant’s last day of participation in the Company Stock Fund at the closing price on the appropriate day) C = (Sale price of all company stock sold during the period of September 23, 1999 through March 31, 2003). b. The Losses of the Claimants as calculated in Section 6.2(a) will be totaled to yield the Loss of each Plan as a whole ove...
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Related to PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND

  • The Settlement Fund 34. The Escrow Account shall be established as a “qualified settlement fund” as defined in Section 1.468B-1(a) of the U.S. Treasury Regulations or other appropriate escrow account as agreed to by the Settling Parties. 35. After preliminary approval of the Settlement, Co-Lead Counsel may utilize up to $100,000 from the Notice Fund to provide notice of the Settlement to potential members of the Settlement Class and for notice administration, without an order from the Court. The amount spent or incurred for notice and notice administration is not refundable to Settling Defendants in the event the Settlement Agreement is disapproved, rescinded, or otherwise fails to become effective. 36. From the Notice Fund and the Settlement Fund shall be paid the cost of settlement notice, claims administration, class representatives’ incentive awards, attorneys’ fees, reimbursement of all actual expenses of the Action, any other litigation costs of Plaintiffs, and all applicable taxes, if any. The Settling Parties shall have the right to audit amounts paid from the Settlement Fund prior to the final approval of the Settlement. 37. The Settlement Fund shall be invested in United States Government Treasury obligations or United States Treasury money market funds. The Notice Fund may be deposited in a bank account, in which case it will be deposited in a federally insured interest-bearing account. 38. Settling Defendants shall not have any responsibility, financial obligation, or liability whatsoever with respect to the investment, distribution, use, or administration of the Settlement Fund, including, but not limited to, the costs and expenses of such investment, distribution, use or administration except as expressly otherwise provided in this Settlement Agreement. 39. Settling Defendants’ only payment obligation is to pay the Settlement Amount. Settling Defendants shall not be liable for any costs, expenses, or fees of any of Plaintiffs’ respective attorneys, experts, advisors, agents, or representatives. Payment of all such costs, expenses, and fees, as approved by the Court, shall be paid only out of the Settlement Fund or the Opt-Out Fee and Expense Account. No disbursements shall be made from the Notice Fund or the Settlement Fund prior to the Effective Date of this Settlement Agreement except as described in Paragraphs 35 and 36, above. 40. The distribution of the Settlement Fund shall be administered pursuant to a plan of allocation (the “Plan of Allocation”) proposed by Co-Lead Counsel and subject to the approval of the Court. If such approval is not obtained, Co-Lead Counsel shall revise the Plan of Allocation as necessary until approval of the Court is obtained. Settling Defendants shall have no participatory or approval rights with respect to the Plan of Allocation and the Court’s rejection of the Plan of Allocation shall not affect the validity or enforceability of this Settlement Agreement. 41. Settling Defendants will take no position on any application for fees and reimbursement of expenses made by Co-Lead Counsel or by the Settlement Class Members or any application for class representatives’ incentive awards out of the Settlement Fund.

  • Plan of Allocation 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former Participants, and their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement payments as contributions to one or more of their accounts in the Plans, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their Settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Termination for Non-Allocation of Funds Renegotiate the Contract under the revised funding conditions; or

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.