Common use of DISTRIBUTION OF THE SETTLEMENT AMOUNT Clause in Contracts

DISTRIBUTION OF THE SETTLEMENT AMOUNT. (1) On or after the Implementation Date, the Administrator shall distribute the remainder of the Escrow Settlement Funds in accordance with the following priorities: (a) to pay Class Counsel Fees as awarded by the Court (unless the Class Counsel Fees have already been paid to Class Counsel in accordance with section 4.2(2)); (b) to pay any honorarium to the Plaintiffs as the Court may decide to award; (c) to pay the Funding Commission to the Funder; (d) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of the Second Notice; (e) to pay all of the Administration Expenses. For greater certainty, the Defendants and the Class are specifically excluded from eligibility for any payment of costs and expenses under this subsection; (f) to pay any taxes required by law to be paid to any governmental authority; (g) to pay a pro rata share of the balance of the Escrow Settlement Funds to each Authorized Claimant in proportion to his, her or its claim as recognized in accordance with the Distribution Protocol; and (h) as directed by the Court, on the recommendation of Class Counsel, in the event that there shall remain thereafter Escrow Settlement Funds that are insufficient to allocate to each Authorized Claimant in accordance with the Distribution Protocol.

DISTRIBUTION OF THE SETTLEMENT AMOUNT. ‌ (1) On or after the Implementation Date, the Administrator shall distribute the remainder of the Escrow Settlement Funds in accordance with the following priorities: (a) to pay Class Counsel Fees as awarded by the Court (unless the Class Counsel Fees have already been paid to Class Counsel in accordance with section 4.2(2)); (b) to pay any honorarium to the Plaintiffs as the Court may decide to award; (c) to pay the Funding Commission to the Funder; (d) to pay all of the costs and expenses reasonably and actually incurred in connection with the provision of the Second Notice; (e) to pay all of the Administration Expenses. For greater certainty, the Defendants and the Class are specifically excluded from eligibility for any payment of costs and expenses under this subsection; (f) to pay any taxes required by law to be paid to any governmental authority; (g) to pay a pro rata share of the balance of the Escrow Settlement Funds to each Authorized Claimant in proportion to his, her or its claim as recognized in accordance with the Distribution Protocol; and (h) as directed by the Court, on the recommendation of Class Counsel, in the event that there shall remain thereafter Escrow Settlement Funds that are insufficient to allocate to each Authorized Claimant in accordance with the Distribution Protocol.