Distribution of Residue Sample Clauses

Distribution of Residue. Given the nature of this particular consumer class action case, the fact that Fastenal does not know, nor does Fastenal have access to any information which would enable it to determine, the postal addresses, email addresses or facsimile numbers of absent Settlement Class members, and experience with consumer class action claims-made rates, the Parties expect that relatively few claims will be made and that a residue will result. Accordingly, the Parties have agreed on a plan for the disposition of the anticipated residue. Thus, if any residual funds from the Net Cash Fund remain after claims payments are made to the Settlement Class members, any and all such residual funds will be distributed cy pres to one or more 501(c)(3) charities to be agreed upon by the Parties and proposed to the Court in connection with the motion for preliminary approval, consistent with C.C.P. § 384. If, for any reason, any or all of the selected charity(ies) proposed by the Parties are not approved by the Court, any such decision by the Court shall not affect the enforceability of the Settlement because the Parties agree to propose alternative charity(ies) until the Court determines that, in the Court's view, each charity(ies) proposed would be a proper recipient(s) of the residue, and, if that fails, the Parties agree that the Court may itself propose and select charity(ies) consistent with C.C.P. § 384. The Parties further agree to comply with all of the terms and respective obligations of C.C.P. § 384. After conferring, and subject to the Court's approval, the Parties have agreed to propose Legal Assistance For Seniors as the cy pres beneficiary of any residual funds.