Common use of Amount Paid per Claim Clause in Contracts

Amount Paid per Claim. Each Settlement Class Member who makes a valid and timely claim will receive a Cash Award. The amount of each Cash Award will be determined by the following formula: (Total Settlement Fund – Settlement Costs) ÷ (Total Number of Approved Claims) = Cash Award. Therefore, the Cash Award for each Settlement Class Member who makes a valid and timely claim is the Settlement Class Member’s pro rata share of the total payments to Settlement Class Members from the Settlement Fund.

Amount Paid per Claim. Each Settlement Class Member who makes a valid and timely claim will shall receive a Cash AwardAward or Awards. The amount of each Cash Award will shall be determined by the following formula: (Total Settlement Fund – Settlement Costs) ÷ (Total Number of Approved Valid and Timely Claims) = Cash Award. Therefore, the Cash Award for each Settlement Class Member who makes a valid and timely claim is the Settlement Class Member’s pro rata share of the total payments to Settlement Class Members from the Settlement FundMembers.