Base Payment Amounts Clause Samples

Base Payment Amounts. Base Payment Amounts will be calculated by applying an escalating marginal recovery formula to the Settlement Class Member’s Lifetime Spending Amount through and including January 31, 2022, with the portion of the Settlement Class Member’s spending attributable to Platform Provider fees (fixed for settlement purposes as 30% of each Settlement Class Member’s lifetime spending) discounted by 75%. Settlement Class Members with Non-DRAP Claims (claims not subject to the Dispute Resolution and Arbitration Provision) will be subject to an escalating marginal recovery formula based on the percentages described in Figure 1 below. Settlement Class Members with DRAP Claims (claims subject to the Dispute Resolution and Arbitration Provision) will be subject to an escalating marginal recovery formula based on the percentages described in Figure 2 below. .01-1,000 10 1000.01-10,000 17.5 10,000.01-50,000 30 50,000.01+ 60 .01-1,000 8 1000.01-10,000 12.5 10,000.01-50,000 20 50,000.01+ 40 By way of example, an individual with Non-BAP Claims and a Lifetime Spending Amount of $40,000 will be entitled to a Base Payment Amount of $8,273.12, calculated as: ((10% of her first $1,000 in spending [$100] + (17.5% of her next $9,000 in spending ([$1,575]) + (30% of her next $30,000 in spending [$9,000])) * (1 – (75% * 30%)). $40,000 will be entitled to a Base Payment Amount of $5,583.87, calculated as: ((8% of her first $30,000 in spending [$6,000])) * (1 – (75% * 30%)).

Base Payment Amounts. Base Payment Amounts will be calculated by applying an escalating marginal recovery formula to the Settlement Class Member’s Lifetime Spending Amount through and including July 23, 2020, with the portion of the Settlement Class Member’s spending attributable to Platform Provider fees (fixed for settlement purposes as 30% of each Settlement Class Member’s lifetime spending) discounted by 75%. Settlement Class Members with Non-DRP Claims will be subject to an escalating marginal recovery formula based on the percentages described in Figure 1 below. Settlement Class Members with DRP Claims will be subject to an escalating marginal recovery formula based on the percentages described in Figure 2 below.

Base Payment Amounts. Base Payment Amounts will be calculated by applying an escalating marginal recovery formula to the Settlement Class Member’s Relevant Spending Amount through and including the date of the execution of the Settlement Agreement. Settlement Class Members who submit a valid claim will be subject to an escalating marginal recovery formula based on the percentages described in Figure 1 below. Relevant Spend ($) Marginal Rate (%) 10,000.01- 100,000 30 By way of example, an individual with a Relevant Spending Amount of $40,000 will be entitled to a Base Payment Amount of $7,472.50, calculated as: ((10% of their first $1,000 in spending [$100]) + (17.5% of their next $9,000 in spending ([$1,575)]) + (30% of their next $30,000 in spending [$9,000])) * (70%)). Settlement Class Members will have the ability to opt to receive an electronic payment via Venmo or PayPal, provided, however, that the default payment method will be check.