Defendants’ Payment Obligations Sample Clauses

Defendants’ Payment Obligations. To implement the terms of this Settlement, Xxxxxxxxxx agrees to pay a non-segregated Gross Settlement Amount of $2,500,000, or as subject to D.4 below. All monies paid out under this Settlement shall be paid from the Gross Settlement Amount subject to orders of this Court. At no time shall Defendants have the obligation to segregate the funds comprising the Gross Settlement Amount. Defendants shall retain authority over and responsibility for those funds, subject to their transfer pursuant to the schedule set forth below and any other the terms of this Settlement. Defendants shall transfer the Gross Settlement to the Settlement Administrator Amount in the following installments: First Transfer of $375,000 by 9/30/2015 Second Transfer of an additional $375,000 by 1/31/2016 Third Transfer of an additional $375,000 by 5/31/2016 Fourth Transfer of an additional $375,000 by 8/31/2016 Fifth Transfer of an additional $375,000 by 11/30/2016 Sixth Transfer of an additional $375,000 by 2/28/2016 Seventh Transfer of an additional $250,000 by 5/30/2017 Defendants shall have no power over transferred funds, or to alter this schedule, absent Court order; provided, however, that should the Settlement not become fully effective pursuant to Section III.M, such funds shall be immediately transferred back to Defendants.
Sample 1
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Defendants’ Payment Obligations. 1. In consideration for the dismissal with prejudice of the Litigation as well as the release of claims effected by this Agreement and other good and valuable consideration, Defendant shall pay a maximum of Three Million Four Hundred Thousand Dollars and Zero Cents ($3,400,000.00) (the “Gross Fund”).
Sample 1
Defendants’ Payment Obligations. In consideration for the dismissal with prejudice of the Litigation as well as the release of claims effected by this Agreement and other good and valuable consideration, Defendants shall pay a maximum of Three Million, Nine Hundred Thousand Dollars And Zero Cents ($3,900,000.00) (the “Gross Fund”). Subject to the terms of this Agreement, the Gross Fund is inclusive of payment for: (1) all Qualified Claimants, or their respective authorized legal representatives (as allocated in paragraph III(F)(2) below); (2) the Service Payments (as defined in paragraph III(F)(3) below) approved by the Court for the Service Payment Recipients (as defined below); (3) all attorneys’ fees and litigation expenses approved by the Court, including those in connection with securing Court approval of this Agreement, the claims process and implementing this Agreement, other than fees and costs awarded in connection with any successful proceeding to enforce the terms of this Agreement; (4) all costs incurred by the Settlement Administrator and all costs in connection with the Settlement Fund (as defined in paragraph III(E)(1) below); and (5) the Qualified Claimants’ share of applicable federal, state and local taxes required to be withheld by the Settlement Fund. The Gross Fund shall be all that Defendants or Released Parties (as defined below) shall pay pursuant to this Agreement (with the exception of their own attorneys’ fees and the employer’s share of any Payroll Taxes in connection with payments hereunder).
Sample 1
Defendants’ Payment Obligations 
Sample 1

Related to Defendants’ Payment Obligations

  • Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following:

  • Client Obligations 3.1 The Client shall:

  • Recipient Obligations 2.1 The Recipient agrees to support the Project in accordance with this Agreement.

  • STUDENT OBLIGATIONS The student agrees to use the property as his or her personal residence. The student shall maintain the interior of the property in a reasonably clean and safe condition, use reasonable care in consumption of utilities and services furnished by the landlord, and avoid unreasonable noise or other disruption of the privacy and peaceful enjoyment of the premises by the landlord and other students. The student shall be responsible for any damage to the property beyond reasonable wear and tear by the student, members of the student's family, or persons invited on the property by the student. The student shall not make, or cause to be made, any alterations to the property or its contents without first obtaining the written consent of the landlord. The student agrees to notify the landlord in writing about any needed repairs or violations of the Honor Code or Residential Living Standards involving other students or residents. *The BYU Student agrees to update their residential address on myBYU each semester/term, failure to do so will result in non-compliance fees of up to $175 and housing holds affecting their ability to register.

  • PROCUREMENT OBLIGATIONS Notwithstanding any other provisions of this Part B, where in this Part B the Customer accepts an obligation to procure that a Former Supplier does or does not do something, such obligation shall be limited so that it extends only to the extent that the Customer's contract with the Former Supplier contains a contractual right in that regard which the Customer may enforce, or otherwise so that it requires only that the Customer must use reasonable endeavours to procure that the Former Supplier does or does not act accordingly.

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • Joint Obligations A. The University and the student share the responsibility for ensuring the quality of life within the residence halls, their maintenance, furnishings and facilities, and for a physical environment secure from fire and other hazards. The University will work with students to promote effective security of persons and property in the residence halls.

  • University Obligations (a) The University must, and must ensure its Personnel:

  • City Obligations 26.1 City shall provide full information in a timely manner regarding requirements for and limitations on projects and work tasks. With regard to subcontractor liens, City shall furnish to Engineer, within fifteen (15) days after receipt of a written request, information necessary and relevant for Engineer to evaluate, give notice of, or enforce lien.

  • Indemnity Obligations An Indemnified Party seeking indemnification under this Agreement must notify Customer promptly of any event requiring indemnification. However, an Indemnified Party’s failure to notify will not relieve Customer from its indemnification obligations, except to the extent that the failure to notify materially prejudices Customer. Customer may assume the defense of any proceeding requiring indemnification unless assuming the defense would result in potential conflicting interests as determined by the Indemnified Party in good faith. An Indemnified Party may, at Customer’s expense, defend itself until Customer’s counsel has initiated a defense of the Indemnified Party. Even after Customer assumes the defense, the Indemnified Party may participate in any proceeding using counsel of its own choice and at its own expense. Customer may not settle any proceeding related to this Agreement unless the settlement also includes an unconditional release of liability for all Indemnified Parties. Customer’s indemnification obligations are not the sole remedy for Customer’s breach of this Agreement and are in addition to any other remedies available. Customer’s indemnification obligations hereunder are not an Indemnified Party’s sole remedy for events giving rise to indemnity by Customer hereunder, and are in addition to any other remedies an Indemnified Party may have against Customer under this Agreement.

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