Class Settlement Fund. 20 Defendant is not required to place all or any portion of the Settlement Fund to the Class 21 Administrator and shall not be required to relinquish control of any funds until payments are due; 22 except that Defendant must deposit with the Settlement Administrator funds sufficient to pay for 23 Class Notice and initial Settlement Administration expenses. The amount deposited by Defendant is 24 to be released from the trust only for distribution to Participating Claimants, as set forth below.
Class Settlement Fund. Defendants shall pay the Total Settlement Amount of Forty-Three Million Two 25 Hundred Fifty Thousand Dollars ($43,250,000.00), to the Qualified Settlement Fund (as 26 described in Section 468B of the Internal Revenue Code of 1986, as amended, and
Class Settlement Fund. Within 15 days of the Effective Date of this Agreement, as defined in section 10.4 of this Agreement, the City will pay $1,275,000 (the “Settlement Payment”) to the Administrator by certified check or wire transfer. The Administrator shall deposit the Settlement Payment in a special account (“Settlement Account”) and may not make any distributions from the Settlement Account until it has received authorization to do so in writing or by email from both Class Counsel and the City.
