Distribution of the Settlement Benefits. 68. All Current Customers will have the option to receive a cash payment via PayPal or Venmo, or alternatively a check mailed to their last known physical address, while Current Customers with invalid or no email addresses will automatically receive their cash payment via check mailed to their last known physical address. In the event Current Customers with valid email addresses do not inform the Settlement Administrator of their choice to receive a digital payment within seven (7) days of being sent an email notifying them the Settlement is ready for distribution and seeking their preference, a check will automatically be mailed to their last known physical address.
Distribution of the Settlement Benefits. 63. Current Customers will receive a credit on their accounts with NAB in the amount of the Cash Credit to which they are entitled under the Allocation Formula. NAB will apply this credit within 30 days of the Effective Date or, if later, within 30 days of the date NAB receives notice from the Settlement Administrator of the amount of Cash Credits that are to be distributed to the individual Current Customers. Within 15 days after the credits are applied, NAB will provide the Settlement Administrator and Class Counsel with a written statement confirming that the Cash Credits were distributed in accordance with the notice from the Settlement Administrator. If any Current Customers who are to receive a credit no longer maintain an account that can be credited, NAB will inform the Settlement Administrator and Class Counsel within 15 days and pay or cause to be paid to the Settlement Administrator an amount in cash equal to the Cash Credits that could not be distributed. The Settlement Administrator will then distribute the appropriate amounts in cash to the affected Class Members.
Distribution of the Settlement Benefits. 58. Defendant agrees to pay a maximum of Three Million Seven Hundred Fifty Thousand Dollars ($3,750,000.00) to settle the claims set forth by the Settlement Class (the “Settlement Fund”). The Settlement Fund shall be disbursed as follows: to the Settlement Class Administrator, the reasonable costs of class notice and settlement administration, expenses, and taxes; to the named Plaintiff, such Service Award as the Court may deem appropriate; to Class Counsel, subject to Court approval, attorneys’ fees and costs and expenses of litigation; and the remainder to be net cash payments pursuant to the Plan of Allocation to Eligible Class Members who do not exclude themselves from the Settlement Class.
Distribution of the Settlement Benefits. 64. Current Customers will automatically receive a settlement payment unless they opt out of the Settlement. Former Customers who timely file a valid Claim Form are eligible to receive a cash payment.
Distribution of the Settlement Benefits
