Common use of The Settlement Amount Clause in Contracts

The Settlement Amount. ‌ (1) The Parties agree to settle the Actions for the cooperation contemplated in section 4.1(1) and Schedule “D” and the Settlement Amount, comprised of payment of the Settlement Payment as provided in section 3.2(1) and the Card Program Payment previously paid by the Settling Defendants, in full satisfaction of the Released Claims against the Released Parties. The Settlement Amount shall be notionally allocated between the Actions seventy- eight percent (78%) to the Ontario Action to and for the benefit of the Ontario Settlement Class and twenty-two percent (22%) to the Quebec Action to and for the benefit of the Quebec Settlement Class. (2) The Parties agree that the portion of the Settlement Amount allocated to the Quebec Settlement Class provides for collective recovery and that it is subject to the Act respecting the Fonds d’aide aux actions collectives, CQLR, c. F-3.2.0.1.1., the Regulation respecting the percentage withheld by the Fonds d’aide aux actions collectives, RLRQ, c. F- 3.2.0.1.1., r. 2 and the Code of Civil Procedure. (3) The Settlement Amount shall be all inclusive. The Released Parties shall have no obligation to pay any further amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Settlement Agreement or the Actions. For the avoidance of doubt, the Settlement Amount is inclusive of, amongst other things and without limiting the generality of the foregoing: (a) all amounts claimed by the Ontario Plaintiffs against the Ontario Settling Defendants in the Ontario Action, including for greater certainty any claims against the Ontario Settling Defendants which are the subject of the Ontario Plaintiffs’ motion for leave to appeal to the Ontario Court of Appeal in Court of Appeal File No. COA-24-OM-0093 dismissed on October 25, 2024; (b) all amounts claimed by the Quebec Plaintiff against the Quebec Settling Defendants in the Quebec Action; (c) all interest amounts that are claimed or could be claimed in the Actions by the Settlement Classes; (d) all Class Counsel Fees and Disbursements; (e) all Administration Expenses; (f) any and all Funder Entitlements; and (g) any previous outstanding costs awarded to the Plaintiffs to be paid by the Settling Defendants, separate payment of which the Plaintiffs waive except as provided in section 15.3(1) in the event the Settlement Agreement is not approved, is terminated in accordance with its terms or otherwise fails to take effect for any reason.