Settlement Consideration Clause Samples

Settlement Consideration. In consideration of the full settlement, satisfaction, compromise and release of the Released Plaintiffs’ Claims, an aggregate $115 million in cash (the “Escrow Amount”) shall be paid on behalf of the Settling Defendants to Freeport by the D&O Carriers. The Settling Defendants shall cause the Escrow Amount to be deposited by the D&O Carriers into an interest-bearing escrow account controlled by an agreed upon representative of Plaintiffs and of the Settling Defendants (the “Escrow Account”) within fifteen (15) business days after the Stipulation is submitted to the Court. Upon the Effective Date, the Escrow Amount, together with any and all interest thereon, shall be paid to Freeport from the Escrow Account. For the avoidance of doubt, the Settling Defendants shall have no obligation to deposit any portion of the Escrow Amount into the Escrow Account but shall have an obligation to take all reasonably available steps to seek to cause the D&O Carriers to deposit the Escrow Amount into the Escrow Account.

Settlement Consideration. 2.1 The Defendants shall pay the Settlement Amount into Charney’s trust account no less than thirty (30) days before the Approval Hearing. 2.2 The Defendants will not be required to pay more than the Settlement Amount, all in, under this Agreement and the Settlement Amount is the sole monetary payment that the Defendants will make under this Agreement. 2.3 Within ten (10) days after the Approval Order becomes final, Charney’s shall transfer to the Claims Administrator the Net Settlement Fund. 2.4 The Settlement Amount shall be the sole source of monetary funds under this Agreement. 2.5 The Settlement Amount shall not be released from Charney’s trust account until the Approval Order becomes final. 2.6 The Claims Administrator, subject to supervision and direction of the court, shall administer and/or oversee distribution of the Settlement Trust pursuant to this Agreement and the Approval Order. 2.7 The Claims Administrator is responsible for communicating with the Class Members regarding the distribution of the Settlement Trust. 2.8 All funds held in Charney’s trust account shall be deemed to be in the custody of the court until such time as the funds are distributed pursuant to Approval Order or further order of the court. 2.9 Each Class Member shall be solely responsible for the tax consequences, if any, to him, her, or it of the receipt of funds from the Approval Order. 2.10 Defendants and their counsel shall not have any responsibility for or liability whatsoever with respect to: (i) any act, omission, or determination of Class Counsel, the Claims Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; (ii) the management, investment, or distribution of the Settlement Amount; (iii) the formulation, design, or terms of the disbursement of the Settlement Amount; (iv) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount; (v) any losses suffered by, or fluctuations in the value of the Settlement Amount; or (vi) the payment or withholding of any taxes and tax-related expenses incurred in connection with the taxation of the Settlement Amount or the filing of any returns. Defendants also shall have no obligation to communicate with Class Members other than set out in this Agreement. 2.11 The Plaintiffs and Class Counsel shall not have any liability whatsoever with respect to: (i) any act, omission or determination of the Claims...

Settlement Consideration. 77. When submitting a Claim for a Cash Payment, Settlement Class Members must choose either Cash Payment A or Cash Payment B. Additionally, Settlement Class Members may elect to receive Credit Monitoring. If a Settlement Class Member does not submit a Valid Claim or opt-out, the Settlement Class Member will release his or her claims against Defendants without receiving a Settlement Class Member Benefit.

Settlement Consideration. In consideration for the full and complete Release of all Released Claims against all Released Parties, and the dismissal of the Action with prejudice, Defendant agrees to provide the following consideration to the Settlement Class:

Settlement Consideration. 15. All Settlement Class Members who are Authorized Claimants and who prior to the Preliminary Approval Date experienced one failure of a Copper Coil while the Copper Coil was covered by the original limited five year warranty or extended ten year warranty and incurred any out-of-pocket expenses as a result of that failure, will receive a $75 Service Rebate Certificate valid for one year from the date it is issued, to be used as payment for maintenance on their HVAC system performed by an authorized JCI Dealer after the date the Service Rebate Certificate is issued. Authorized Claimants must provide the Settlement Administrator with evidence of the Copper Coil failure and may do so by submitting, for example, an invoice(s), receipt(s), photograph(s), correspondence to or from JCI or an HVAC dealer or contractor, warranty claim(s), or any other competent evidence of the failure. To redeem the Service Rebate Certificate, the Authorized Claimant must provide the Settlement Administrator with proof of service by an 11 authorized JCI Dealer within 120 days of such service being performed. The rebate will be paid directly by the Settlement Administrator to the Authorized Claimant by check within thirty (30) days after submission of such proof. 16. All Settlement Class Members who are Authorized Claimants and who prior to the Preliminary Approval Date experienced two or more failures of a Copper Coil while the Copper Coil was covered by the original limited five year warranty or extended ten year warranty, and paid for labor, refrigerant, or parts associated with the replacement of their Copper Coils, will receive a check as reimbursement for their out-of-pocket expenses of up to $550.00 for each replacement (but no more than $1,100.00 for all replacements). Authorized Claimants must provide the Settlement Administrator with evidence of the Copper Coil failures and may do so by submitting, for example, an invoice(s), receipt(s), photograph(s), correspondence to or from JCI or an HVAC dealer or contractor, warranty claim(s), or any other competent evidence of the failure. Authorized Claimants must also provide the Settlement Administrator with evidence of the amounts they paid out-of-pocket for labor, refrigerant, or parts to replace those Copper Coils, and may do so by submitting an invoice(s), receipt(s), cancelled check(s), or other competent evidence. 17. All Settlement Class Members who are Authorized Claimants and who after the Preliminary Approval Date expe...

Settlement Consideration. In consideration for the foregoing releases, the Parties agree to the following:

Settlement Consideration. Virpax will pay Sorrento and Scilex a total of $6 million. Virpax will pay that amount as follows: No later than two business days after the Effective Date, Virpax will wire $3.5 million to Scilex (the “Initial Payment”). By or on July 1, 2024, Virpax will wire the remaining $2.5 million to Scilex.

Settlement Consideration. In consideration for the Settlement Agreement, entry of judgment, and dismissal, and for the mutual release provided herein, Defendants agree to provide the following consideration to the Class:

Settlement Consideration. In consideration for the Release provided for herein and the dismissal of the Litigation with prejudice, under the terms of this Settlement Agreement, Defendant agrees to provide consideration to the Settlement Class Members as follows.