Common use of Defendants Settlement Payment Obligations Clause in Contracts

Defendants Settlement Payment Obligations. The Gross Settlement Amount shall be paid in three (3) semiannual installments and one (1) final payment. The four (4) semiannual installments shall be in the amount of One Hundred Thirty-Seven Thousand Four Hundred Thirty-Seven Dollars and Ninety-Six Cents ($137,437.96) each. The first installment payment shall be made within seven (7) calendar days after the Settlement Administrator notifies Defendants of the funding and account information for forwarding the Gross Settlement Amount to the Settlement Administrator. The subsequent payments shall be made on or before February 1, 2022 and on or before August 1, 2022, with the final payment of the remaining balance made on or before February 1, 2023, until the total amount has been paid in full. In the event that the settlement does not receive final approval by the Court, the Settlement Administrator shall refund to Defendants the amounts deposited (plus any accrued interest) within fifteen (15) calendar days of written notice by counsel for Defendants. 1. Reasonable attorneys’ fees and litigation costs: Class Counsel will request that the Court award them reasonable attorneys’ fees in an aggregate amount up to and including Forty percent (40%) ($219,900.74) of the Gross Settlement Amount. Class Counsel will also ask the Court to award them reasonable litigation costs incurred in an amount up to Thirty-Five Thousand Dollars ($35,000.00). Defendants have agreed not to oppose such requests provided that Class Counsel provides the itemized list of the reasonable litigation costs to the Court for review. However, if the Court awards a lesser amount of attorneys’ fees and/or litigation costs, it shall not affect the terms of the Parties’ settlement, and any portion of the requested attorneys’ fees and/or litigation costs not approved shall become part of the Net Settlement Amount. Any award of attorneys’ fees and costs shall include and satisfy all past and future fees and costs incurred to prosecute, settle, and administer the Class Action and this Settlement Agreement, including obtaining the Final Approval Order and Judgment. The Settlement Administrator shall issue Class Counsel an IRS Form 1099 for their award of attorneys’ fees.

Defendants Settlement Payment Obligations. The Gross In full and complete Settlement Amount shall be paid in three (3) semiannual installments and one (1) final payment. The four (4) semiannual installments shall be in of the Xxxxxxxx Action, Defendants deposited the gross amount of One Hundred Thirty-Seven Thousand Four Hundred Thirty-Seven Dollars and Ninety-Six Cents ($137,437.96) each. The first installment payment shall be made within seven (7) calendar days after the Settlement Fund to the Settlement Administrator notifies Defendants of the funding and on or about December 12, 2019, which has been deposited into an account information for forwarding the Gross Settlement Amount to established by the Settlement Administrator. The subsequent payments shall be made on or before February 1, 2022 and on or before August 1, 2022, with the final payment of the remaining balance made on or before February 1, 2023, until the total amount has been paid in full. In the event that the settlement does not receive final approval by the Court, the Settlement Administrator shall refund to Defendants the amounts Settlement Fund deposited (plus any accrued interest) within fifteen (15) calendar days of written notice by counsel for Defendants. 1. Reasonable attorneys’ fees and litigation costs: Class Counsel will request that the Court award them reasonable attorneys’ fees in an aggregate amount up to and including Forty Thirty-Five percent (4035%) ($219,900.74) of the Gross Settlement AmountFund ($115,500.00) to be paid out of the Settlement Fund. Class Counsel will also ask the Court to award them reasonable litigation costs incurred in an amount up to Thirty-Five Fourteen Thousand Dollars ($35,000.00)14,000.00) to be paid out of the Settlement Fund. Defendants have agreed not to oppose such requests provided that Class Counsel provides the itemized list of the reasonable litigation costs to the Court for reviewrequests. However, if the Court awards a lesser amount of attorneys’ fees and/or litigation costs, it shall not affect the terms of the Parties’ settlement, and any portion of the requested attorneys’ fees and/or litigation costs not approved shall become part of the Net Settlement Amount. Any award of attorneys’ fees and costs shall include and satisfy all past and future fees and costs incurred to prosecute, settle, and administer the Class Xxxxxxxx Action and this Settlement Agreement, including obtaining the Final Approval Order and Judgment. The Settlement Administrator shall issue Class Counsel an IRS Form 1099 for their award of attorneys’ fees.

Defendants Settlement Payment Obligations. The Gross In full and complete settlement of the Action, subject to this Settlement Amount being approved by the Court and final Judgment being entered, and 10 days after the Final Effective Date, and to satisfy their Maximum Settlement Payment obligation of One Hundred Forty Thousand Dollars ($140,000), Defendants shall be paid in three (3) semiannual installments and one (1) final payment. The four (4) semiannual installments shall be commence two equal installment payments in the amount of One Hundred Thirty-Seven Seventy Thousand Four Hundred Thirty-Seven Dollars and Ninety-Six Cents ($137,437.9670,000) each(to be paid no later than March 31, 2021 (first payment), and March 31, 2022 (second payment)) to the Claims Administrator (the “Settlement Payments”). The first installment In the event any scheduled payments are not paid in full or timely paid according to the schedule, Plaintiff will provide written notice to Defendants. If Defendants do not cure by making the scheduled monthly payment shall be made within seven (7) calendar days after from the Settlement Administrator notifies Defendants of date they receive notice, then the funding and account information for forwarding the Gross Settlement Amount to the Settlement Administratorremaining amount due will be increased by 150%. The subsequent payments settlement funds shall be made on or before February 1, 2022 and on or before August 1, 2022, with the final payment of the remaining balance made on or before February 1, 2023, until the total amount has been paid in full. In the event that the settlement does not receive final approval deposited by the Court, the Settlement Claims Administrator shall refund to Defendants the amounts deposited (plus any accrued interest) within fifteen (15) calendar days of written notice by counsel for Defendants.into an interest- bearing account and allocated as follows: 1. Reasonable attorneys’ fees and litigation costsexpenses: Class Counsel will request may request, without opposition from Defendants, that the Court award them reasonable attorneys’ fees in an aggregate amount up to and including Forty thirty-three and one-third percent (4033.33%) ($219,900.74) of the Gross Maximum Settlement Amount, or $46,666.66 (of Maximum Settlement Amount). Class Counsel will also ask the Court to award them reasonable litigation expenses and costs incurred in an amount up prosecuting the Action, not to Thirty-exceed Twelve Thousand Five Thousand Dollars ($35,000.0012,500). Defendants have agreed not to oppose such requests provided that Class Counsel provides the itemized list requests. The award of the reasonable litigation costs to the Court for review. However, if the Court awards a lesser amount of attorneys’ fees and/or and litigation costs, it shall not affect costs granted by the terms Court will be paid out of the Parties’ settlement, and any portion of the requested attorneys’ fees and/or litigation costs not approved shall become part of the Net Maximum Settlement Amount. Any award of attorneys’ fees and costs shall include and satisfy all past and future fees and costs incurred to prosecute, settle, settle and administer the Class Action and this Settlement Agreement, including obtaining the Final Approval Order and Judgment. The Settlement Administrator shall issue Class Counsel an IRS Form 1099 for their award of attorneys’ fees.

Defendants Settlement Payment Obligations. The Gross In full and complete Settlement Amount of the Action, subject to this Settlement receiving final approval from the Court and Judgment being entered, Defendant shall be paid in three (3) semiannual installments forward a sum not to exceed Seven Hundred and one (1) final payment. The four (4) semiannual installments shall be in the amount of One Seventy Nine Thousand, Five Hundred Thirty-Seven Thousand Four Hundred Thirty-Seven Dollars and Ninety-Six Cents ($137,437.96779,500.00) each. The first installment payment shall be made to the Claims Administrator within seven thirty (730) calendar days after the Settlement Administrator notifies Defendants of the funding and account information for forwarding the Gross Settlement Amount Final Effective Date, to the Settlement Administrator. The subsequent payments shall be made on or before February 1, 2022 and on or before August 1, 2022, with the final payment of the remaining balance made on or before February 1, 2023, until the total amount has been paid in full. In the event that the settlement does not receive final approval deposited by the CourtClaims Administrator into an interest bearing account; provided, the Settlement Administrator shall refund to Defendants the amounts deposited however, that by no later than ten (plus any accrued interest) within fifteen (1510) calendar days of written notice by counsel after the Final Effective Date, Class Counsel shall provide Defendant’s Counsel with all necessary information to allow Defendant to deposit the Maximum Settlement Amount with the Claims Administrator, and if Class Counsel has not timely provided such information then Defendant’s deadline for Defendants.depositing the Maximum Settlement Amount with the Claims Administrator shall be extended until ten (10) calendar days after Class Counsel provides the necessary information. The Maximum Settlement Amount shall be allocated as follows: 1. Reasonable attorneys’ fees and litigation costs: Class Counsel will request may request, without opposition from Defendant, that the Court award them him reasonable attorneys’ fees in an aggregate amount up to and including Forty thirty percent (4030%) ($219,900.74) of the Gross Maximum Settlement Amount, or Two Hundred Twenty Five Thousand Dollars ($225,000.00). Class Counsel will also ask the Court to award them him reasonable litigation costs incurred in an amount up prosecuting the Action, not to Thirty-Five exceed Twenty Thousand Dollars ($35,000.0020,000.00). Defendants have Defendant has agreed not to oppose such requests provided that Class Counsel provides the itemized list requests. The award of the reasonable litigation costs to the Court for review. However, if the Court awards a lesser amount of attorneys’ fees and/or and litigation costs, it shall not affect costs granted by the terms Court will be paid out of the Parties’ settlement, and any portion of the requested attorneys’ fees and/or litigation costs not approved shall become part of the Net Maximum Settlement Amount. Any award of attorneys’ fees and costs shall include and satisfy all past and future fees and costs incurred to prosecute, settle, settle and administer the Class Action and this Settlement Agreement, including obtaining the Final Approval Order and Judgment. The Settlement Administrator shall issue In the event the Court awards Class Counsel an IRS Form 1099 for their award fees of attorneys’ feesless than thirty percent (30%) of the Maximum Settlement Amount, the difference shall be used to increase the amount of the Maximum Settlement Amount to be allocated to the Settlement Class.