Common use of Second Distribution Clause in Contracts

Second Distribution. Not later than ten (10) calendar days after the void date of the last payment issued to a Settlement Class Member, the Settlement Administrator shall calculate the amount of funds remaining in the Settlement Fund. If the amount remaining is sufficient to deliver redistributions of at least Ten Dollars ($10.00) to each Settlement Class Member who cashed their initial payment, together with the Notice and Administration Expenses of such redistribution, the Settlement Administrator shall effect such redistribution within twenty-five (25) calendar days of the void date of the last payment issued to a Settlement Class Member. If it is not possible to deliver redistributions of at least $10.00, residual funds will be delivered to the cy pres recipients identified in Section 4(d) above.