Common use of Settlement Consideration Clause in Contracts

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 Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; and (ii) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount. 2.12 No action shall lie against the Claims Administrator for any decision made in the administration of this Agreement without an order from the court authorizing such an action.

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 Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; and (ii) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount. 2.12 No action shall lie against the Claims Administrator for any decision made in the administration of this Agreement without an order from the court authorizing such an action.

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 the 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 Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; and (ii) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount. 2.12 No action shall lie against the Claims Administrator for any decision made in the administration of this Agreement without an order from the court authorizing such an action.

Settlement Consideration. 2.1 The Defendants shall 61. In exchange for the mutual promises and covenants in this Agreement, including, without limitation, the Releases as set forth in Section XII hereof and the dismissal of the Action upon Final Approval, Defendant shall, without admission of liability, pay the total amount of Twenty-One Million Nine Hundred Seventy-Five Thousand Dollars ($21,975,000.00) as the monetary component of the Settlement as set forth in Sections IX and X hereof and subject to the termination provisions in Section XIV. This Settlement Payment Amount into Charney’s trust account no less than thirty includes all monetary disbursements incurred in connection with the Settlement, including but not limited to (30a) days before all monetary payments to the Approval Hearing. 2.2 The Defendants will Settlement Classes; (b) all Administrative Costs; (c) all attorneys’ fees, costs, and expenses awarded by the Court to Class Counsel; and (d) all Service Awards to be paid to Plaintiffs. For avoidance of doubt, Defendant shall not be required to pay more than the Settlement Amount, all in, under this Agreement and the Settlement Amount is the sole any additional 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 sums in settlement of the courtAction, nor shall administer and/or oversee distribution of the Settlement Trust pursuant it be required 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 consequencesbear any other fees, if anycosts, to him, hercharges, 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, expenses in connection with the administration Settlement (exclusive of the Agreement or otherwise; (ii) the management, investment, or distribution costs of the Settlement Amount; (iii) the formulation, design, or terms CAFA notice and implementation of the disbursement account credits as provided in Section X 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 returnsthis Agreement). Defendants Defendant also shall have no obligation not be required to communicate with Class Members other than set out in take any action or refrain from taking any action as a result of 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 Settlement except to fulfill its obligations to implement the Claims Administrator, or any of their respective designees or agents, in connection with the administration of the Agreement or otherwise; and (ii) the determination, administration, calculation, or payment of any claims asserted against the Settlement Amount. 2.12 No action shall lie against the Claims Administrator for any decision made in the administration terms of this Agreement without an order from as specifically provided herein. 62. In addition to the court authorizing such an actionSettlement Payment Amount described in the preceding paragraph, and subject to the occurrence of the Effective Date, Defendant shall provide Ten Million Two-Hundred Fifty Thousand Dollars ($10,250,000.00) in the form of reductions to the outstanding balances of Settlement Class Members whose accounts were closed with amounts owed to Defendant. This Overdraft Forgiveness Amount shall serve to reduce the amounts that Participating Settlement Class Members owe to Defendant for Overdraft Fees and overdrafts Defendant paid but for which Defendant was not reimbursed. 63. Defendant has discontinued assessing Overdraft Fees for debit card transactions that were authorized at a time when the account's Available Balance was positive. Defendant agrees to work with Plaintiffs' counsel in good faith to estimate the annual fee impact of this practice change for personal checking accounts.