Deposit of Funds into Qualified Settlement Fund Sample Clauses

Deposit of Funds into Qualified Settlement Fund. At its discretion, McDonald’s will either (1) deposit the Settlement Payment in an interest-bearing QSF, within the meaning of Treasury Regulation Section 1.468B-1, et seq., on or before the later of (i) 10 days after entry of the Preliminary Approval Order or (ii) December 31, 2019 (the “Fund Option Dates”); or (2) within 10 business days after the Effective Date, pay the Settlement Payment (plus interest accruing as of the later of the “Fund Option Dates” at the rate of 2% per annum) into an interest-bearing QSF for the purposes of funding the settlement. The Settlement Payment shall be deemed to include any interest accrued on the $26 million. In the event the Court denies final approval of the Settlement or an appeal leaves the Settlement unenforceable, the Parties shall be returned to the same positions as existed at the time of this Agreement, and all funds in the interest-bearing QSF provided for in this paragraph shall be returned to McDonald’s.
Sample 1
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Related to Deposit of Funds into Qualified Settlement Fund

  • Establishment of Qualified Settlement Fund 5.1 No later than five (5) business days after entry of the Preliminary Order, the Escrow Agent shall establish an escrow account. The Settling Parties agree that the escrow account is intended to be, and will be, an interest-bearing Qualified Settlement Fund within the meaning of Treas. Reg. § 1.468B-1. In addition, the Escrow Agent timely shall make such elections as necessary or advisable to carry out the provisions of this Paragraph 5.1, including the “relation-back election” (as defined in Treas. Reg. § 1.468B-1) back to the earliest permitted date. Such elections shall be made in compliance with the procedures and requirements contained in such regulations. It shall be the responsibility of the Escrow Agent to prepare and deliver, in a timely and proper manner, the necessary documentation for signature by all necessary parties, and thereafter to cause the appropriate filing to occur.

  • 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.

  • Deposit of Funds Before 11:00 A.M., New York City time, on each Redemption Date, Fundamental Change Repurchase Date or Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the Company will deposit, or will cause there to be deposited, with the Paying Agent cash, in funds immediately available on such date, sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as soon as practicable, any money not required for such purpose.

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

  • DEPOSIT OF FUNDS REQUIREMENTS Funds may be deposited to any account, in any manner approved by the Credit Union in accordance with the requirements set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories, or at unstaffed facilities are not our responsibility until we receive them. We reserve the right to refuse or to return any deposit.

  • Allocation of Funds AMO will allocate and transfer Funds on the basis of the formula determined by Ontario.

  • LACK OF FUNDS The state may cancel this contract to the extent funds are no longer legally available for expenditures under this contract. Any delivered but unpaid for goods will be returned in normal condition to the contractor by the state. If the state is unable to return the commodities in normal condition and there are no funds legally available to pay for the goods, the contractor may file a claim with the Arkansas Claims Commission. If the contractor has provided services and there are no longer funds legally available to pay for the services, the contractor may file a claim.

  • Reallocation of Funds COUNTY reserves the right to reallocate the available program funds to other service areas based on CONTRACTOR performance or client demand.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

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