Common use of Use of Settlement Payments Clause in Contracts

Use of Settlement Payments. 1. The Special Master shall transfer funds from the ▇▇▇▇▇▇▇ Settlement Trust within 60 days (with one 30 day extension available in his discretion) after receiving the funds from the Settlement Fund Escrow pursuant to section III.A.2 as follows: 86% of such funds shall be paid to TAFT IV for distribution to Participating Tribes to use for Opioid Remediation in accordance with the TAFT IV Trust Agreement and the TAFT IV TDP; and 14% of such funds shall be set aside by the Special Master for the Attorney Fee Fund subject to Section VII to pay attorneys’ fees and litigation costs. Upon the second payment of $75 million by ▇▇▇▇▇▇▇ to the ▇▇▇▇▇▇▇ Settlement Trust no later than the one-year anniversary of the Effective Date pursuant to section III.A.2, the Special Master shall transfer 86% of the funds from the ▇▇▇▇▇▇▇ Settlement Trust to TAFT IV within 60 days after receiving the funds from ▇▇▇▇▇▇▇ and set aside 14% of such funds for the Attorney Fee Fund to pay attorneys’ fees and litigation costs. 2. The TAFT IV Directors shall set aside and hold back the funds allocable to each of the following Tribes proportionate to the Tribe’s Tribal Allocation Distribution Percentage: a. A Non-Litigating Tribe that has not become a Participating Tribe at the time of such distribution, and the provisions of Section IV.E.2 shall apply with respect to such Non-Litigating Tribe. b. A Litigating Tribe that has not become a Participating Tribe at the time of such distribution, and the provisions of Section IV.E.1 shall apply with respect to such Litigating Tribe. 3. The Special Master shall deduct the costs and expenses incurred in the administration of the ▇▇▇▇▇▇▇ Settlement Trust out of the interest accrued on the Settlement Trust and thereafter from the principal of the Settlement Trust. 4. In no event may less than 86% of ▇▇▇▇▇▇▇’▇ payments to the ▇▇▇▇▇▇▇ Settlement Trust be spent on Opioid Remediation. The Parties acknowledge and agree that the payments disbursed to the Tribes from TAFT IV in accordance with this Section IV and Schedules B and D of the TAFT IV TDP are exclusively for Opioid Remediation.

Use of Settlement Payments. 1. The Within fifteen (15) calendar days after receiving each of the ten (10) Annual Payments, the Special Master master shall transfer funds and disburse fund from the CVS Settlement Trust pursuant to Section III.A.2 and in accordance with Exhibits G-1 and G-2. The Annual Payments for Payment Years 1 through 5 shall be divided between the Attorney Fee Fund and ▇▇▇▇ VIII as set forth in Exhibits G-1 and G-2. The amounts allocated to ▇▇▇▇ VIII shall be distributed to Participating Tribes to be used for Opioid Remediation in accordance with the ▇▇▇▇ VIII Trust Agreement and the ▇▇▇▇ Settlement Trust within 60 days (with one 30 day extension available in his discretion) after receiving the funds from the Settlement Fund Escrow pursuant to section III.A.2 as follows: 86% of such funds VIII TDP. The Annual Payments for Payment Years 6 through 10 shall be paid in their entirety to TAFT IV ▇▇▇▇ VIII for distribution to Participating Tribes to be used for Opioid Remediation in accordance with the ▇▇▇▇ VIII Trust Agreement and the ▇▇▇▇ VIII TDP. a. It is the intent of the Parties that the payments disbursed from ▇▇▇▇ VIII to the Participating Tribes be for Opioid Remediation. In no event may less than eighty-five percent (85%) of the Settlement Amount (or precisely $110,792,472) be paid to ▇▇▇▇ VIII for distribution to Participating Tribes to use for Opioid Remediation in accordance with the TAFT IV ▇▇▇▇ VIII Trust Agreement and the TAFT ▇▇▇▇ VIII TDP. The Parties acknowledge and agree that the payments disbursed to the Tribes from ▇▇▇▇ VIII in accordance with this Section IV TDP; and 14% Schedules B and D of such funds the ▇▇▇▇ VIII TDP are exclusively for Opioid Remediation. The distributions to the ▇▇▇▇ VIII will be paid over ten (10) years. b. The remaining fifteen percent (15%) of the Settlement Amount (or precisely $19,551,612) shall be set aside by the Special Master for the Attorney Fee Fund subject to Section VII VI to pay the attorneys’ fees and litigation costs. Upon The distributions to the second payment Attorney Fee Fund will be paid over five (5) years. Any amounts allocated to the Attorney Fee Fund that are not used for the attorneys’ fees and costs of $75 million by ▇▇▇Participating Tribes shall be reallocated to ▇▇▇▇ VIII for distribution to the ▇▇▇▇▇▇▇ Settlement Trust no later than the one-year anniversary of the Effective Date pursuant Participating Tribes to section III.A.2, the Special Master shall transfer 86% of the funds from the ▇▇▇▇▇▇▇ Settlement Trust to TAFT IV within 60 days after receiving the funds from ▇▇▇▇▇▇▇ and set aside 14% of such funds be used for the Attorney Fee Fund to pay attorneys’ fees and litigation costsOpioid Remediation. 2. The TAFT IV ▇▇▇▇ VIII Directors shall set aside and hold back the funds allocable to each of the following Tribes proportionate to the Tribe’s Tribal Allocation Distribution Percentage: a. A Non-Litigating Tribe that has not become a Participating Tribe at the time of such distribution, and the provisions of Section IV.E.2 IV.E.1 shall apply with respect to such Non-Litigating Tribe. b. A Litigating Tribe that has not become a Participating Tribe at the time of such distribution, and the provisions of Section IV.E.1 IV.E.2 shall apply with respect to such Litigating Tribe. 3. The Special Master shall deduct the costs and expenses incurred in the administration of the ▇▇▇▇▇▇▇ CVS Settlement Trust out of the interest accrued on the CVS Settlement Trust and thereafter from the principal of the CVS Settlement Trust. 4. In no event may less than 86% of ▇▇▇▇▇▇▇’▇ payments to the ▇▇▇▇▇▇▇ Settlement Trust be spent on Opioid Remediation. The Parties acknowledge and agree that the payments disbursed to the Tribes from TAFT IV in accordance with this Section IV and Schedules B and D of the TAFT IV TDP are exclusively for Opioid Remediation.