Calculation of Settlement Class Members’ Payments Sample Clauses

Calculation of Settlement Class Members’ Payments. In consideration for settlement and a release of all claims of the Settlement Class against Defendants, each member of the Settlement Class who returns a valid and timely Claim Form (“Qualified Claimant”) shall receive a proportionate share of the Class Payment. The determination of each Settlement Class Member’s share will be based on payment information produced by Defendants and on the computations of Plaintiffs’ counsel, all of which is presumed to be accurate (and which is described in detail below). Specifically, the determination of each Qualified Claimant’s proportionate share of the Class Payment will be based on the following formula: Class Payment divided by the total amount owed to all Qualified Claimants as set forth in Defendants’ business records times the amount owed to the individual Qualified Claimant. For example, assume Defendants owe all Qualified Claimants $5,000,000 and owe Qualified Claimant Xxxx $5,000. Qualified Claimant Xxxx’s pro rata share of the Class Payment would be $1,020,000/$5,000,000 x $5,000 = $1,020.
Sample 1
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Calculation of Settlement Class Members’ Payments. Net Settlement Funds shall be distributed to all Settlement Class Members, with each such member being entitled to an individual award representing that member’s pro rata share based on the damages calculations of Plaintiffs’ expert. The damages calculations will be based on payroll data produced by Defendants, which is presumed to be accurate. This method for calculating Settlement Awards shall be disclosed to the Court and the Settlement Class as part of the Settlement approval process. Class Counsel shall provide Defendants and the Settlement Administrator in MS Excel format each Settlement Class Member’s total proportionate shares to be received from the estimated total Net Settlement Funds within ten (10) days of the Court’s grant of preliminary approval of the Settlement. Class Counsel shall use all reasonable efforts to ensure the accuracy of these calculations.
Sample 1

Related to Calculation of Settlement Class Members’ Payments

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • Certification of Settlement Class Promptly after execution of the Settlement Agreement, Class Counsel will ask the Court to issue an order certifying the Settlement Class for settlement purposes only. Xxxxx agrees not to object to this request without waiver of its right to contest certification or the merits of the Lawsuit if the settlement does not receive final approval or the Effective Date (defined in paragraph 14 below) does not occur.

  • Notice to Settlement Class Members 5.1 The Parties agree that the following Notice Program provides reasonable notice to the Settlement Class.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Settlement Class Members “Settlement Class Members” shall mean all persons in the Class who do not exclude themselves pursuant to Section F, herein, and those who submit a Valid Claim.

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court, you are allowed to roll over up to 90 percent of the proceeds to your Traditional IRA, within 180 days after receipt of such amount, or by a later date if extended by federal law. If you make such a rollover contribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

  • Settlement Class 2. Pursuant to Rule 23(e)(1)(B)(ii) of the Federal Rules of Civil Procedure, the Court preliminarily finds that the Court will likely find that the requirements of Federal Rules of Civil Procedure 23(a) and 23(b)(3) have been satisfied for settlement and judgment purposes only. As to the requirements of Rule 23(a) for settlement purposes only, (i) the Settlement Class provisionally certified herein likely exceeds 100,000 individuals, and joinder of all would be impracticable; (ii) there are questions of law and fact common to the Settlement Class; (iii) Class Representatives’ claims are typical of the claims of the Settlement Class they seek to represent for purposes of settlement; and (iv) Class Representatives are adequate representatives of the Settlement Class. As to the requirements of Rule 23(b)(3) for settlement purposes only, questions of law and fact common to the Settlement Class predominate over any questions affecting any individual Settlement Class Member, and a class action on behalf of the Settlement Class is superior to other available means of settling and disposing of this dispute.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

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