Common use of Allocation of Settlement Amount Following Termination Clause in Contracts

Allocation of Settlement Amount Following Termination. (1) If the Settlement Agreement is not approved, is terminated or otherwise fails to take effect for any reason, Siskinds LLP shall, within thirty (30) days of the written notice of termination issued pursuant to Sections 6.1(1) or 6.1(2) or other non-approval or failure to take effect, return to the Settling Defendants the Settlement Amount they have paid to Siskinds LLP, plus all accrued interest thereon. If the Settling Defendants have issued a notice of termination pursuant to Section 6.1(1) or the termination has occurred pursuant to Section 6.1(2) as a result of non-payment of the Settlement Amount, the amount to be returned shall be reduced by the Settling Defendants’ proportional share of the costs of notices required by Section 11.1(1), up to a maximum deduction of CAD$30,000 for all the Canadian Settlement Agreements, and any translations required by Section 15.11, up to a maximum deduction of CAD$7,750 for all of the Canadian Settlement Agreements.

Allocation of Settlement Amount Following Termination. (1) If the Settlement Agreement is not approved, is terminated or otherwise fails to take effect for any reason, Siskinds LLP shall, within thirty (30) days of the written notice of termination issued pursuant to Sections 6.1(15.1(1) or 6.1(25.1(2) or other non-approval or failure to take effect, return to the Settling Defendants the Settlement Amount they have paid to Siskinds LLP, plus all accrued interest thereon. If the Settling Defendants have issued a notice of termination pursuant to Section 6.1(15.1(1) or the termination has occurred pursuant to Section 6.1(25.1(2) as a result of non-payment of the Settlement Amount, the amount to be returned shall be reduced by the Settling Defendants’ proportional share of the costs of notices required by Section 11.1(110.1(1), up to a maximum deduction of CAD$30,000 for all the Canadian Settlement Agreements, and any translations required by Section 15.1114.11, up to a maximum deduction of CAD$7,750 for all of the Canadian Settlement Agreements.