Common use of Distribution of Cash Awards Clause in Contracts

Distribution of Cash Awards. No later than ten (10) days after the resolution of any disputes regarding rejected claims in accordance with the process identified in Section VII.D.5-6., the Settlement Administrator will provide Class Counsel and TASC’s Counsel with a report identifying the total of the Cash Awards and the amount of money in the Settlement Fund available to pay such Cash Awards (Available Cash Award Total). 1. If the Available Cash Award Total exceeds the Cash Awards: a. First, the payment to each Settlement Class Member who submits a Valid Claim under Section VII.C. shall be increased pro rata up to a maximum of four times of the total amount they would otherwise be entitled to under Section VI.C. above (for example, if the Available Cash Award Total exceeds the total of the Cash Awards by a factor of four, then a person who was to receive a Cash Award of two-thousand five-hundred dollars ($2,500) prior to any increase under this subsection would have the amount received as a result of this Settlement Agreement increased by a factor of four times their Cash Award, to ten thousand dollars ($10,000)). b. If, after the increase identified in Section VI.D.1.a. above is made, the Available Cash Award Total still exceeds the amount paid to Settlement Class Members, then any Additional Attorneys’ Fees Award (as defined in section VIII.A.2.) will be paid to the extent approved by the Court. c. If thereafter any additional funds remain in the Settlement Account, they shall be donated in equal parts to the following cy pres organizations no later than 60 days after the resolution of all other payment obligations, including any petition for an Additional Attorneys’ Fees Award: Shot in the Dark and Mass Liberation Arizona. 2. If, however, the total Cash Awards exceed the Available Cash Award Total, the Cash Awards to the Settlement Class Members who have submitted Valid Claims will be reduced on a pro rata basis until the Cash Awards equal the Available Cash Award Total. 3. Except as otherwise provided herein, all payments to eligible Settlement Class Members who submit Valid Claims will be made within 90 days after the Final Approval Order. All checks issued to the Settlement Class Members in accordance with this paragraph shall indicate on their face that they are void after 90 calendar days from the date issued. Payment may also be made electronically.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

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Distribution of Cash Awards. No later than ten seven (107) days Days after the resolution of Parties have resolved any disputes regarding rejected claims in accordance with the process identified in Section VII.D.5-6.V, Paragraphs B and C, the Settlement Administrator will provide Class Counsel and TASCPharmavite’s Counsel with a report identifying (1) the total of the Cash Awards that would be payable if all Valid Claims requesting Cash Awards were paid and (2) the amount of money in the Settlement Fund Account available to pay such Cash Awards (Available Cash Award Total). 1. If the Available Cash Award Total exceeds the total amount that would be payable if all Valid Claims requesting Cash Awards: a. FirstAwards were paid, the excess shall be applied and distributed, together with the Cash Awards pursuant to Section IV, Paragraphs D.1 and D.2 above, so that the payment to each Settlement Class Member who submits a Valid Claim under Section VII.C. IV, Paragraph D shall be increased pro rata up to a maximum (based on the dollar value of four times of the total amount they would otherwise be entitled to Valid Claims submitted under Section VI.C. above (for exampleIV, if Paragraph D). 2. If the Available Cash Award Total exceeds is less than the total of the Valid Claims for Cash Awards by a factor of foursubmitted (under Section IV, then a person who was to receive a Cash Award of two-thousand five-hundred dollars ($2,500) prior to any increase under this subsection would have the amount received as a result of this Settlement Agreement increased by a factor of four times their Cash Award, to ten thousand dollars ($10,000Paragraph D)). b. If, after the increase identified in Section VI.D.1.a. above is made, the Available Cash Award Total still exceeds the amount paid to Settlement Class Members, then any Additional Attorneys’ Fees Award (as defined in section VIII.A.2.) will be paid to the extent approved by the Court. c. If thereafter any additional funds remain in the Settlement Account, they shall be donated in equal parts to the following cy pres organizations no later than 60 days after the resolution of all other payment obligations, including any petition for an Additional Attorneys’ Fees Award: Shot in the Dark and Mass Liberation Arizona. 2. If, however, the total Cash Awards exceed the Available Cash Award Total, the Cash Awards to the Settlement Class Members who have submitted Valid Claims will be reduced on a pro rata basis (based on the dollar value of Valid Claims submitted under Section IV, Paragraph D) until the total of the Valid Claims for Cash Awards equal equals the Available Cash Award Total. Class Members whose Cash Awards were reduced shall be entitled to receive an amount of Available Offered Product Benefit equal to the amount of the pro rata reduction of their Cash Award, subject to Section IV., Paragraphs F.1 and G.1. To the extent reasonably administratively feasible, but not to exceed the Available Offered Product Benefit, each Settlement Class Member will receive the Offered Product(s), if any, identified in his or her Claim Form. 3. Except Any Cash Awards as otherwise provided herein, all payments to eligible in this Settlement Class Members who submit Valid Claims Agreement will be made within 90 days one hundred twenty (120) Days after the Final Approval Order. All checks issued to the Settlement Class Members in accordance with this paragraph shall indicate on their face that they are void after 90 calendar days from the date issued. Payment may also be made electronicallyEffective Date.

Appears in 1 contract

Samples: Settlement Agreement

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Distribution of Cash Awards. No later than ten seven (107) days Days after the resolution of Parties have resolved any disputes regarding rejected claims in accordance with the process identified in Section VII.D.5-6.V, Paragraphs B and C, the Settlement Administrator will provide Class Counsel Counsel, PCC Defendants’ Counsel, and TASCRutherford County’s Counsel with a report identifying the total of the Cash Awards and the amount of money in the Net Settlement Fund available to pay such Cash Awards (Available Cash Award Total). 1. (i) If the Available Cash Award Total exceeds the Cash Awards: a. First, the payment to each Settlement Class Member who submits a Valid Claim under Section VII.C. Paragraph D shall be increased pro rata up to a maximum of four five times of the total amount they he or she would otherwise be entitled to under Section VI.C. Paragraph D above (for example, if the Available Cash Award Total exceeds the total of the Cash Awards by a factor of four, then a person who was were to receive a Cash Award of two-thousand five-one hundred dollars ($2,500100) prior to any increase under this subsection would have subsection, then the amount received as person shall be entitled to receive a result maximum of this Settlement Agreement increased by a factor of four times their Cash Award, to ten thousand five hundred dollars ($10,000)500). b. If, after the increase identified in Section VI.D.1.a. Paragraph E(i)(a) above is made, the Available Cash Award Total still exceeds the amount paid to Settlement Class MembersCash Awards, then any Additional Attorneys’ Fees Award (as defined in section VIII.A.2.below) will be paid to the extent approved by the Court.; c. If thereafter any additional funds remain in the Settlement Account, they shall be donated in equal parts to the following cy pres organizations no later than 60 days after No Exceptions Prison Collective of the resolution of all other payment obligationsXxxxxxx Xxxxxx House in Nashville, including any petition for an Additional Attorneys’ Fees Award: Shot in the Dark and Mass Liberation ArizonaTennessee. 2. (ii) If, however, the total Cash Awards exceed the Available Cash Award Total, the Cash Awards to the Settlement Class Members who have submitted Valid Claims will be reduced on a pro rata basis until the Cash Awards equal the Available Cash Award Total. 3. (iii) Except as otherwise provided herein, all payments to eligible Settlement Class Members who submit Valid Claims will be made within 90 days one hundred twenty (120) Days after the Final Approval Order. All checks issued to the Settlement Class Members in accordance with this paragraph shall indicate on their face that they are void after 90 calendar days from the date issued. Payment may also be made electronicallyEffective Date.

Appears in 1 contract

Samples: Settlement Agreement

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