Common use of Distribution of the Settlement Fund Clause in Contracts

Distribution of the Settlement Fund. The Claims Administrator will distribute the funds in the Settlement Fund in the following order and within the time period set forth with respect to each such payment: a. first, the Claims Administrator will pay to Class Counsel the attorneys’ fees, costs, and expenses ordered by the Court as set forth in Section 5.01; b. next, no later than five (5) business days after the Funding Date, the Claims Administrator will pay to the Class Representatives any incentive award ordered by the Court, as described in Section 5.02; c. next, no later than fifteen (15) calendar days after the Funding Date, the Claims Administrator will be paid for any unreimbursed costs of administration; d. next, no later than twenty-five (25) calendar days after the Funding Date, the Claims Administrator will pay the Cash Awards to eligible Settlement Class Members pursuant to Section 9; e. next, if checks that remain uncashed after 210 calendar days after the first pro rata distribution yield an amount that, after administration costs, would allow a second pro rata distribution to the qualifying Settlement Class Members equal to or greater than $1.00 per Settlement Class Member, the Claims Administrator will distribute any such funds on a pro rata basis to Settlement Class Members who cashed settlement checks.