Common use of VALID CLAIMS Clause in Contracts

VALID CLAIMS. If after payment of items (i) through (iv) in Section 3.3, the total amount of Valid Claims exceeds the balance remaining in the Settlement Fund, then each Valid Claim in item (v) shall be reduced pro-rata. If after payment of items (i) through (iv) in Section 3.3, money remains in the Settlement Fund, then the amount paid for each Valid Claim it item (v) shall be increased pro-rata, up to a maximum of five times the amounts set forth in section 3.8. If after such pro-rata increase in the payment of Valid Claims, there still remains money in the Settlement Fund, then upon approval by the Court, pursuant to the cy pres doctrine, the remaining amount shall be paid in equal shares to: