Deposit of Settlement Fund. Midland shall transfer the Settlement Fund to the Settlement Administrator to be held in an interest-bearing escrow account within fifteen (15) days after the Effective Date.
Deposit of Settlement Fund. The Settlement Fund shall be deposited with the Settlement Administrator by MCU within ten (10) days of entry of the Preliminary Approval Order. The Settlement Administrator is authorized to draw on the Settlement Fund to pay for the Settlement Administration Expense upon notice to the Parties.
Deposit of Settlement Fund. Within ten (10) business days after the Preliminary Approval Date, or otherwise on order of the Court, Capital One shall deliver the Settlement Fund to the Settlement Administrator. Within ten (10) business days after entry of Case 8:13-cv-01624-WGC Document 66-3 Filed 03/30/15 Page 13 of 32 Final Approval, or otherwise on order of the Court, Capital One shall deliver any additional Supplemental Amounts to the Settlement Administrator. All funds constituting the Settlement Fund shall be deposited in an interest bearing account at a bank or depository institution designated by Class Counsel. The account will require the written authorization of Class Counsel, the Settlement Administrator, and a representative of Capital One or its Counsel to authorize the release of funds. All interest accrued on the funds deposited under this section shall be added to the Settlement Fund. In the event that the Settlement is not approved by the Court or this Agreement is terminated pursuant to Paragraph 28, or the Court does not give Final Approval, Capital One may withdraw and retain all of these funds including all accrued interest without any further action by the Court. The Representative Plaintiff, the Settlement Class, and Class Counsel agree that if the Settlement is not approved by the Court or if the Agreement is terminated, and on written notice from Capital One to return the Settlement Fund to Capital One, Class Counsel will timely execute within ten (10) business days, and cause the Settlement Administrator to execute within the same ten (10) business days, whatever documentation is necessary to disburse the Settlement Fund to Capital One in accordance with Capital One’s written instructions.
Deposit of Settlement Fund. Within ten (10) calendar days after the Preliminary Approval Date, YES Energy agrees to wire transfer a sum equal to two million, eight-hundred thousand dollars ($2,800,000) in resolution of all claims asserted in this Litigation, which is inclusive of any claims for costs and/or attorneys’ fees (“Settlement Amount”), to an interest-bearing depository account under the control of the Settlement Administrator, with the account number and wiring instructions being provided to Defendants within seven (7) calendar days after the Preliminary Approval Date. Defendants will issue any applicable information returns (e.g., IRS Form 1099) in connection with the payment of the Settlement Amount in due course. The account into which the Settlement Fund is deposited will require the signature of the Settlement Administrator to authorize the release of funds. Except as agreed to by the Parties, in the event that the Court does not grant Final Approval of this Settlement, or the Agreement is terminated or cancelled, the Settlement Administrator shall within five (5) days after the denial of Final Approval, termination, or cancellation, wire transfer the Settlement Fund and all accrued interest to an account designated by Defendants without any further action by the Court.
