Distribution of Settlement Payments. The Settlement is designed to exhaust the Settlement Fund. The Settlement Fund shall be used to make payments for the following: (i) Administrative Expenses, (ii) Fee Award and Costs, (iii) Service Award, and (iv) taxes. The remaining amount is the Net Settlement Fund. The Settlement Administrator will first apply the Net Settlement Fund to pay for CMIS claimed by Class Members. If Net Settlement Funds remain after paying for the CMIS, the Settlement Administrator will next use it to pay valid claims for Documented Loss Payments. The amount of the Net Settlement Fund remaining after all Documented Loss Payments are applied and the payments for the CMIS are made shall be referred to as the “Post CM/DL Net Settlement Fund.” The Settlement Administrator shall then utilize the Post CM/DL Net Settlement Fund to make all Cash Fund Payments pursuant to Section 3.2(c) herein. The amount of each Cash Fund Payment shall be calculated by dividing the Post CM/DL Net Settlement Fund by the number of valid claims submitted for Cash Fund Payments. In the event the Net Settlement Fund is insufficient to cover the payment for the CMIS claimed by Class Members, the duration of the CMIS coverage will be reduced to exhaust the fund. In such an event, no Net Settlement Funds will be distributed to Claimants for Approved Claims for Documented Loss Payments or for Cash Fund Payments. In the event that the aggregate amount of all Documented Loss Payments and payments for the CMIS exceeds the total amount of the Net Settlement Fund, then the value of the Documented Loss Payment to be paid to each Class Member shall be reduced, on a pro rata basis, such that the aggregate value of all Documented Loss Payments and payments due for CMIS does not exceed the Net Settlement Fund. In such an event, no Net Settlement Funds will be distributed to Claimants with Approved Claims for Cash Fund Payments. All such determinations shall be performed by the Settlement Administrator.
Distribution of Settlement Payments. Plaintiffs are going to create one or more qualified settlement fund (“QSF”) accounts within the meaning of Treas. Reg. § 1.468B-1, in a form agreed to by parties, following the entry of an Order of the Court creating them. The QSFs will be established at a bank of Plaintiffs’ Counsels’ choosing, and the parties agree that Biomet’s transfer of funds to a QSF does not constitute constructive receipt of a settlement amount by Plaintiffs’ Counsel or Plaintiffs. The Parties also agree that Biomet transfer of funds to the QSF does not constitute a commitment or promise by Biomet to authorize the disbursement of such funds to Plaintiffs’ Counsel or Plaintiffs, prior to satisfying the conditions described in Paragraphs 11 and 12 of this Settlement Agreement. The parties also agree to negotiate a settlement administration agreement described in Paragraph 13 below. One of the provisions to be included in the settlement administration agreement will allow certain contested cases to be paid, with Biomet’s consent, which will not be unreasonably withheld, before the qualifying percentage for mediated cases, as set forth in Paragraph 5 of this Settlement Agreement, is met.
Distribution of Settlement Payments. The Settlement Administrator shall, within fourteen (14) days of receiving payment for the initial damages amount from Defendant, send checks or other cash-equivalent form of payment to each Class Member who submitted a Valid Claim (Settlement Class Member). If after three (3) months a check remains uncashed and money remains of the amount Defendant paid to the Settlement Administrator, the remainder shall be donated to [an agreed-upon charity serving the Normandy area].
Distribution of Settlement Payments. In coordination with the Settlement Administrator, Uber shall distribute or cause to be distributed the Settlement Payment to each Class Member as follows:
Distribution of Settlement Payments. The settlement payments provided for in paragraphs 9.2.1 and 9.2.3 shall be distributed to Class Members no later than ninety (90) days after the Effective Date. CardConnect, Class Counsel, and the Settlement Administrator shall work cooperatively to ensure that payments are accurately calculated and timely distributed.
Distribution of Settlement Payments. Within thirty (30) days of the Settlement Effective Date, the Settlement Administrator will issue checks for the Settlement Payments of $200.00 to the Named Plaintiffs and the FCRA Class Members. Within ninety (90) days after the Settlement Administrator issued the Participating NYC Class Members who qualified for an Enhanced Payment Form W-9s, or within fourteen (14) days after which every Participating NYC Class Member who qualified for an Enhanced Payment has submitted a Form W-9 to the Settlement Administrator, whichever is earlier, the Settlement Administrator will issue checks for the Settlement Payments to the Participating NYC Class Members who qualified for an Enhanced Payment and timely submitted the required Form W-9
Distribution of Settlement Payments. (a) The Settlement Administrator will first apply the Net Settlement Fund to pay for CMIS claimed by a Settlement Class Member who submits a valid and timely Claim Form. If funds remain in the Net Settlement Fund after paying for the CMIS, the Settlement Administrator will next use the Net Settlement Fund to pay all Documented Loss Payments. The amount of the Net Settlement Fund remaining after all Documented Loss Payments are applied and the payments for the CMIS are made shall be referred to as the “Post Loss Payment Net Settlement Fund.”
(b) The Settlement Administrator shall utilize the Post Loss Payment Net Settlement Fund to make all Cash Award payments pursuant to Paragraph 2.2(a). The amount of each Cash Award payment shall be calculated by dividing the Post Loss Payment Net Settlement Fund by the total number of valid and timely Claim Forms submitted by Settlement Class Members who elected a Cash Award but shall not exceed $5,000.00.
Distribution of Settlement Payments. When and if the Court enters the Final Order and Judgment approving the Settlement, and the Effective Date has passed, the Settlement Administrator shall prepare a final list of all Qualified Claimants. The Settlement Administrator shall provide this list to Pepperidge Farm within 5 days after the Effective Date. For each Qualified Claimant on this list, the Settlement Administrator will calculate the amounts due to each Qualified Claimant and issue checks payable to said Qualified Claimants. All settlement payments to Named Plaintiffs and Qualified Claimants shall be reported on an IRS 1099 without withholdings. Named Plaintiffs and Qualified Claimants must pay their own portion of taxes on the settlement payments. Named Plaintiffs and Qualified Claimants shall be exclusively liable for any and all tax liability, and will indemnify Pepperidge Farm for any and all claims, damages, costs, and expenses (including reasonable attorneys ‘fees) arising from their failure to pay any and all taxes they owe as a result of the settlement payments they receive. The Service Enhancements to the Named Plaintiffs shall be reported on an IRS 1099 without withholdings. Named Plaintiffs must pay their own portion of taxes on the Service Enhancements.
Distribution of Settlement Payments. (a) The Settlement Administrator will first apply the Net Settlement Fund to pay all Documented Loss Payments. The amount of the Net Settlement Fund remaining after all Documented Loss Payments are applied shall be referred to as the “Post Loss Payment Net Settlement Fund.”
(b) The Settlement Administrator shall utilize the Post Loss Payment Net Settlement Fund to make all Cash Award payments pursuant to Paragraph 2.2(a). The amount of each Cash Award payment shall be calculated by dividing the Post Loss Payment Net Settlement Fund by the total number of valid and timely Claim Forms submitted by Settlement Class Members who elected a Cash Award.
Distribution of Settlement Payments. 1. Payments to Authorized Claimants shall be made from the Settlement Fund, after the adjustments to the Settlement Fund described above. Each Authorized Claimant shall be entitled to a pro rata payment from the Settlement Fund (defined above as the “Settlement Payment”), in accordance with a formula established by the Settlement Administrator which will result in the pro rata distribution of the Settlement Fund in proportion to the amount of administration fees charged to the Authorized Claimant submitting a Valid Claim as compared to the total amount of administration fees charged to all Authorized Claimants. While YES Energy has information about the exact amount of Administration Fees charged for those Settlement Class Members who made direct payments to YES Energy, it does not have access to the exact amount of payments of Administration Fees by Settlement Class Members who did not make direct payments to YES Energy, but instead made payments of Administration Fees to another party (such as their landlord or property manager).
2. To the extent that Defendants can identify the precise Administration Fees paid by any particular Settlement Class Member, that information shall be included on the Class List, and the Web Claim Form for that particular Settlement Class Member shall be pre-populated with the amount of Administration Fees paid.
3. To the extent Defendants cannot identify the precise fees paid by any particular Settlement Class Member, it will be presumed for purposes of this Agreement and calculating a pro rata share that any such Settlement Class Member paid an Administration Fee for twelve (12) months during the Class Period at a rate of $4 per month (($48 / Administration Fees Charged) x Settlement Fund = Gross Settlement Class Member Payment) (the “Payment Floor”). The Parties recognize that such a formula could result in an over or under payment to Settlement Class Members who had shorter or longer term leases, but anticipate that scenario would involve a relatively small portion of the Settlement Class. Moreover, because Settlement Class Members will receive notice to their last known physical address or last known E-mail address, or via another method to attempt to reach any potential Settlement Class Member who could not be identified by name, the Settlement Class Members will be provided the option in the Claim Form to attest to whether they paid additional fees beyond the Payment Floor by providing to the Settlement Administrator inf...
