Determining State Specific Funds Clause Samples

Determining State Specific Funds. 15.5.2.1 The purpose of this Paragraph is to determine the State Specific Fund for each Statutory Minimum Damages State in a manner that reflects the number of Kmart Stores and Closed Kmart Stores in each Statutory Minimum Damages State, and the Statutory Minimum Damages Amount in each Statutory Minimum Damages State. 15.5.2.2 To accomplish this purpose, each Statutory Minimum Damages State will be assigned a “Factorial,” which is the product of the number of Kmart Stores and Closed Kmart Stores in that state times that state’s Statutory Minimum Damages Amount. For example, there are 130 Kmart Stores and Closed Kmart Stores in California, and California’s Minimum Statutory Damages Amount is $4,000. Thus the California Factorial is 520,000 (the product of 130 times 4,000). The percentage of the Damages Sub-Class Fund allocated to a Statutory Minimum Damages State is determined by dividing that state’s Factorial by the combined sum of the Factorials of all Statutory Minimum Damages States. Exhibit 8 sets forth the Factorials and the State Specific Funds for each Statutory Minimum Damages State.