Common use of Plan of Allocation Clause in Contracts

Plan of Allocation. All payments of Settlement compensation to Settlement Class Members shall be made from the Settlement Fund after all costs of Settlement administration (including, but not limited to, costs related to the Phase I Notice and Phase II Notice, the fees and expenses of the Settlement Administrator as approved by the Court, and the Fee and Disbursements Award as approved by the Court), are deducted from the Settlement Fund. If the total of the timely, valid and approved Claims submitted exceeds the available relief, minus any covered costs and expenses, each Settlement Class Member’s award shall be reduced on a pro rata basis. If the total of the timely, valid and approved Claims is less than the available relief, minus any covered costs and expenses, each Settlement Class Member’s award shall be pro rata increased to no more than two- times the value of the timely, valid and approved Claim absent any further written agreement by the Parties. After such distribution(s), the Settlement Administrator shall pay the Unpaid Funds, if any, to the Cy Pres Recipient.