Allocation of Monies in the Account Following Termination. If the Settlement Agreement is terminated, Ontario Counsel shall return to the Settling Defendant all monies in the Account including interest, but less one half of the amount of any costs incurred in respect of notice or any income taxes paid in respect of any interest earned on monies in the Account, within thirty (30) business days of the relevant termination event.
Allocation of Monies in the Account Following Termination. If the Settlement Agreement is terminated, Siskinds LLP shall return to the Settling Defendants all monies in the Account, including interest, within thirty (30) business days of the relevant termination event in section 4.1.
Allocation of Monies in the Account Following Termination. (a) If the Agreement is terminated, Class Counsel and the Administrator shall account to the Court and the Parties for the amounts maintained in the Account. If the Agreement is terminated, this accounting shall be delivered no later than ten (10) days after such termination.
Allocation of Monies in the Account Following Termination. (a) If the Agreement is terminated, Class Counsel and the Administrator shall account to the Court and the Parties for the amounts maintained in the Account. If the Agreement is terminated, this accounting shall be delivered no later than ten (10) days after such termination.
(b) If the Agreement is terminated, the Defendants shall, within thirty (30) days after termination, apply to the Court, on notice to the Plaintiff and the Administrator, for an order:
(i) declaring the Agreement null and void and of no force or effect except for the provisions of those sections listed in section 8.4;
(ii) determining whether a notice of termination shall be sent out to Class Members and, if so, the form and method of disseminating such a notice;
(iii) requesting an order setting aside, nunc pro tunc, all prior orders or judgments entered by the Court in furtherance of the terms of this Agreement; and,
(iv) authorizing the payment of all funds in the Account, including accrued interest, by payment to Fasken Xxxxxxxxx, in Trust, for the Contributing Parties, minus any Non-Refundable Expenses.
(c) Subject to subsection 8.3(d) below, the Parties and the Administrator shall consent to the orders sought in any motion made by the Defendants pursuant to section 8.3.
Allocation of Monies in the Account Following Termination. If the Settlement Agreement is terminated after the Settlement Amount has been transferred to the Account, the Settlement Amount shall be returned to the Defendants, including accrued interest, but less:
(a) The amount of any income taxes paid or owing in respect of any interest earned on the Settlement Amount while on deposit in the Account; and
(b) Any Administration Expenses that have been actually incurred as at the date of termination, including costs associated with any Notices, including translation expenses, and the estimated costs of Administration Expenses to be incurred to provide notice to the Class that the Settlement Agreement has been terminated, if such notice is required by the Court.
Allocation of Monies in the Account Following Termination. If the Settlement Agreement is terminated after the Settlement Fund (or any portion thereof) has been transferred to the Account, the Settlement Fund shall be returned to the Defendants, including accrued interest, but less:
(a) The amount of any income taxes paid or owing in respect of any interest earned on the Settlement Fund while on deposit in the Account; and
(b) Any Administration Expenses that have actually been incurred as at the date of termination, including costs associated with any Notices, including translation expenses, and the estimated costs of Administration Expenses to be incurred to provide notice to the Class that the Settlement Agreement has been terminated, if such notice is required by the Court, as well as costs associated with the Claims Administrator. In this regard, the Parties hereby agree and acknowledge that the Plaintiff, the Class Members and Class Counsel will never be liable or responsible to pay for any portion of the Administration Expenses, including without limitation any costs associated with any Notices. The Defendants will therefore solely be responsible to pay for any and all such Administration Expenses and Notice costs.
Allocation of Monies in the Account Following Termination. (1) If the Settlement Agreement is terminated for any reason, the Escrow Agent shall:
(a) retain the holdback in the Account for Non-Refundable Expenses;
(b) give the Class Counsel Representative and the Settling Defendants 14 days’ written notice of its intention to return the monies in the Account, less the holdback for Non-Refundable Expenses; and
(c) provide to the Class Counsel Representative and the Settling Defendants a list of all Non-Refundable Expenses paid and any invoices received by the Escrow Agent but not paid.
(2) If the Settlement Agreement is terminated by the Settling Defendants or is null and void pursuant to section 2, the Escrow Agent shall return to the contributing Settling Defendants, in the proportions they contributed, all monies in the Account other than the holdback for Non- Refundable Expenses.
(3) If the Settlement Agreement is terminated by the Settling Plaintiffs, then:
(a) as among the Settling Defendants, the Defaulting Settling Defendant(s) shall be solely liable for all Non-Refundable Expenses;
(b) if the Defaulting Settling Defendant(s) made a partial payment into the Account sufficient to pay the full amount of all Non-Refundable Expenses, the Escrow Agent shall:
(i) return to each contributing Settling Defendant the monies it contributed plus any post-deposit accrued interest; and
(ii) return to the Defaulting Settling Defendant(s) who made a partial payment into the Account any monies it (they) contributed that remain after payment of Non-Refundable Expenses plus any post-deposit accrued interest;
(c) if the Defaulting Settling Defendant(s) has not made a partial payment into the Account sufficient to pay all Non-Refundable Expenses, the Escrow Agent shall return to the contributing Settling Defendants, in the proportions they contributed, all monies in the Account other than the holdback for Non-Refundable Expenses; and
(d) the contributing Settling Defendants may move for judgment against the Defaulting Settling Defendant(s) for the full amount of any Non-Refundable Expenses paid by the contributing Settling Defendants.
(4) Once all Non-Refundable Expenses have been paid in full, the Escrow Agent shall give the Class Counsel Representative and the Settling Defendants 14 days’ written notice of its intention to return any remaining holdback for Non-Refundable Expenses in the Account and, at the same time, provide to the Class Counsel Representative and the Settling Defendants a list of the additional Non-Refundable...
