Establishment of Settlement Fund Sample Clauses

Establishment of Settlement Fund a. Within twenty (20) business days after the Effective Date, Defendant shall pay the total sum of $17,850,000 (Seventeen Million Eight Hundred Fifty Thousand Dollars), less any amounts already advanced by Defendant for Administrative Expenses, to create a Settlement Fund. b. The Settlement Fund shall be used to pay (i) all Cash Awards pursuant to any Approved Claims; (ii) any incentive award to the Class Representatives; (iii) attorneys’ fees, costs, and expenses of Class Counsel; and (iv) costs of administration of the Agreement, including without limitation payment of Administrative Expenses. c. Any award of attorneys’ fees, administrative costs, or any other fees, costs, or benefits otherwise awarded in connection with the Settlement Agreement shall be payable solely out of the Settlement Fund. d. Provided that this Agreement is finally approved by the Court without material modification or amendment, the Settlement Fund, after deduction of fees and costs, will be used to satisfy Approved Claims for Settlement Class Members in exchange for a mutual release and covenants set forth in this Agreement, including, without limitation, a full, fair and complete release of all the Released Parties from Released Claims, and dismissal of the Litigation with prejudice. e. Settlement benefits shall be allocated to the Settlement Class Members via a claims process set forth in paragraph 53. f. The Court may require changes to the method of allocation to Settlement Class Members without invalidating this Settlement Agreement, provided that the other material terms of the Settlement Agreement are not materially altered, including but not limited to the scope of the Release, the Class Period, and the amount of the Settlement Fund. g. Defendant’s contribution to the Settlement Fund shall be fixed under this Section and be final. Defendant shall have no obligation to make further payments into the Settlement Fund and shall have no financial responsibility or obligation relating to the settlement beyond establishing the Settlement Fund. If the Settlement Agreement is not finally approved, the Settlement Fund belongs to Defendant, less any Administrative Expenses paid to date. Plaintiffs shall have no financial responsibility for any Administrative Expenses paid out of the Settlement Fund in the event that the Settlement Agreement is not finally approved.

Establishment of Settlement Fund a. Defendant agrees to establish a Settlement Fund in the amount of $1,023,750.00 (one million twenty-three thousand seven hundred and fifty dollars), which will fully resolve this action on a class-wide basis. Defendant represents that the Class consists of 975 people. If the final number of Settlement Class Members identified on the Class List is greater than, or less than, 975, the size of the Settlement Fund will be increased, or decreased, proportionally by $1,050 per class member. b. The Settlement Fund shall be divided equally among the Settlement Class Members who do not choose to exclude themselves from the Settlement Class, less pro rata deductions for any Fee Award, any Service Award, and Administrative Expenses. Settlement Class Members shall receive their pro rata shares of the Settlement Fund automatically without having to submit a claim form or otherwise “opt in” to the Settlement Class. c. Within fourteen (14) days of the Effective Date of this Agreement, Defendant shall pay to the Settlement Administrator the Settlement Fund, subject to any adjustment required by Paragraph 44(a) above. The foregoing payment obligations are contingent on receipt of the fully-executed Settlement Agreement; the W-9 of the Settlement Administrator or of the settlement fund;, the name of the payee for the settlement check; and the address(es) or wire transfer information for where the settlement funds should be sent by check or wire transfer. d. All funds provided to the Settlement Administrator under this Agreement shall be maintained by an escrow agent as a Court-approved Qualified Settlement Fund pursuant to Section 1.468B-1, et seq., of the Treasury Regulations promulgated under Section 468B of the Internal Revenue Code of 1986, as amended, and shall be deposited in an interest-bearing account. e. Any uncashed amounts from the Settlement Fund (including checks disbursed to Settlement Class Members that remain uncashed for any reason within 100 days of issuance of the check) will be redistributed on an equal, pro rata basis to Settlement Class Members who cashed their initial check. Any uncashed amounts after the second distribution shall be distributed to a cy pres recipient(s) selected by the Parties and approved by the Court. f. The Settlement Fund represents the total extent of Defendant’s monetary obligations under the Settlement Agreement. Other than as set forth in Paragraph 44(a), Defendant’s contributions to the Settlement Fund shall be fixed under...

Establishment of Settlement Fund. (a) A pool of funds (the "Provider Pool") shall be established solely to pay Settled Claims of the Hospital and all other providers which have entered into settlement agreements containing terms similar to those contained in this Agreement. The Provider Pool shall be established in a segregated cash collateral account prior to the Effective Date at a bank mutually acceptable to WellCare and Garfunkel Wild & Xxxxxx, P.C., as counsel to HANYS and NORMET, which bank shall have had no prior dealings with WellCare). The Provider Pool shall not be disbursed except in accordance with this Agreement (or other similar settlement agreement). The Provider Pool account shall contain irrevocable instructions concerning deposits and withdrawals from the Provider Pool, which shall be agreed to by Garfunkel, Wild & Xxxxxx, P.C., as counsel to HANYS and NORMET, and WellCare prior to the Effective Date, and which may be modified only with the prior written approval of both WellCare and Garfunkel, Wild & Xxxxxx, P.C., as counsel to HANYS and NORMET, or at the direction of SID. The Parties recognize and agree that deposits into and payments from the Provider Pool may be subject to audit or review by SID and other regulatory agencies having jurisdiction over WellCare. In addition, HANYS and/or NORMET or their agents or representatives, shall have the right to audit or review the Provider Pool, the cost of the first of which audit or review shall be borne by WellCare and the cost of any and all subsequent audits or reviews shall be borne by HANYS and/or NORMET. The results of such audit or review shall be distributed to all Parties. The Parties agree to cooperate with each other to the extent reasonably necessary to carry out the provisions of this Section 5(a). (b) The Provider Pool shall have an initial balance of not less than Ten Million Dollars ($10,000,000) by the Effective Date and shall be comprised of proceeds from the Xxxxx Transaction and/or GHI Transaction. In addition, the Provider Pool shall be supplemented by an amount equal to 80% of all proceeds from accounts receivables of WCNY which were or should have been recorded in accordance with generally accepted accounting principles (GAAP) as of April 30, 1999 (the "Accounts Receivable") to the extent such proceeds are collected by WellCare during the period commencing on May 1, 1999 and ending on the date that the Provider Pool is no longer in effect. HANYS and/or NORMET, or their agents or representatives, shall ha...

Establishment of Settlement Fund a. Defendant agrees to pay the Settlement Amount, i.e., the total sum of Xxx Xxxxxxx Xxxxxxx Xxxxxx Xxxxxx Dollars and Zero Cents ($100,000,000.00), to create the Settlement Fund. Defendant shall pay the Settlement Amount in accordance with the terms and conditions of this Section 3.2. The Settlement Fund shall be used to pay all Settlement Payments as a result of Approved Claims made by Class Members, the Administration Expenses, any Service Payments to the Class Representatives, Taxes, and any Fee and Expense Award to Class Counsel. The Settlement Fund represents the total extent of Defendant’s monetary obligations under this Agreement, and neither Defendant nor any Released Party shall have any obligation to make any further payments into the Settlement Fund or any financial responsibility or obligation relating to the Settlement beyond payment of the Settlement Amount. FILED DATE: 4/14/2022 8:11 PM 2019CH00990 b. No portion of the Settlement Fund shall revert back to or be refunded to Defendant after the Settlement becomes Final. c. Within fifteen (15) Days after the later of (a) entry of the Preliminary Approval Order, which shall include an order establishing the Settlement Fund pursuant to pursuant to Treasury Regulation § 1.468B-1(c)(1), or (b) receipt from the Settlement Administrator of detailed wire instructions and a completed W-9 form, Google agrees to and shall cause the sum of Five Hundred Thousand United States Dollars and Zero Cents ($500,000.00) to be deposited in an interest-bearing bank escrow account established and administered by the Settlement Administrator (the “Escrow Account”). The Escrow Account shall be held in a Qualified Settlement Fund (defined below) in interest-bearing bank account deposits with commercial banks with excess capital exceeding One Billion United States Dollars and Zero Cents ($1,000,000,000.00), with a rating of “A” or higher by S&P and in an account that is fully insured by the United States Government or the FDIC. d. Within forty-five (45) Days after the entry of the Preliminary Approval Order, Google agrees to and shall cause to be deposited the additional sum of Ninety-Nine Million Five Hundred Thousand United States Dollars and Zero Cents ($99,500,000.00) into the Escrow Account. e. All interest on the funds in the Escrow Account shall accrue to the benefit of the Settlement Class. Any interest shall not be subject to withholding and shall, if required, be reported appropriately to the Internal Revenue ...

Establishment of Settlement Fund. The Settlement Amount shall be funded and paid into an account established and administered by the Settlement Administrator at a financial institution agreed upon by the Parties. The Parties agree that the Settlement Fund is intended to be maintained as a qualified settlement fund within the meaning of Treasury Regulation § 1.468 B-1, and that the Settlement Administrator, within the meaning of Treasury Regulation § 1.468 B- 2(k)(3), shall be responsible for filing tax returns and any other tax reporting for or in respect of the Settlement Fund and paying from the Settlement Fund any Taxes and Tax-Related Expenses owed with respect to the Settlement Fund. The Parties agree that the Settlement Fund shall be treated as a qualified settlement fund from the earliest date possible and agree to any relation-back election required to treat the Settlement Fund as a qualified settlement fund from the earliest date possible. Any and all funds held in the Settlement Fund shall be held in an interest-bearing account insured by the Federal Deposit Insurance Corporation. Funds may be placed in a non-interest bearing account as may be reasonably necessary during the check clearing process. The Settlement Administrator shall provide an accounting of any and all funds in the Settlement Fund, including any interest accrued thereon and payments made pursuant to this Agreement, upon request of any of the Parties.

Establishment of Settlement Fund. Within thirty (30) calendar days after the Court enters the Approval Order, the Defendants shall pay the Settlement Fund to the Settlement Administrator in trust for the Settlement Class Members.

Establishment of Settlement Fund. Experian shall make a payment of twenty- four million dollars ($24,000,000.00) and deposit that payment into the Settlement Fund as follows: (i) Experian shall pay five hundred thousand dollars ($500,000.00) into the Settlement Fund within seven (7) days after the Court enters the Preliminary Approval Order to cover Notice and Administrative Expenses incurred prior to entry of the Final Approval Order and Judgment; and (ii) Experian shall pay an additional twenty-three million five-hundred dollars ($23,500,000.00) into the Settlement Fund within ten (10) days after the Effective Date.

Establishment of Settlement Fund. Within forty-five (45) days after the entry of the Preliminary Approval Order, Defendant shall cause to be deposited the Notice and Administrative Expenses through the date of final approval, as estimated by the Settlement Administrator, into an account established and administered by the Settlement Administrator at a financial institution agreed upon by the Settlement Administrator, Defendant, and Settlement Class Counsel, to cover the Settlement Administrator’s reasonable set-up costs, notice, and administration costs. Defendant shall deposit the balance of the Settlement Fund into the same account within thirty (30) days of the Effective Date. The Settlement Administrator shall provide wiring instructions and a properly completed and duly executed IRS Form W-9, along with any other necessary forms, to Defendant within ten (10) days of the entry of the Preliminary Approval Order.

Establishment of Settlement Fund. Within thirty (30) days of the entry of the Effective Date, Defendant shall cause to be deposited the sum of $1,075,000.00, into an account established and administered by the Settlement Administrator at a financial institution agreed upon by the Settlement Administrator, Defendant, and Class Counsel, minus the amounts advanced for notice and claims administration cost as described in the next sentence. Within thirty (30) days of entry of the Preliminary Approval Order, Defendant will pay an amount reasonably necessary to defray the actual expenses of notice and claims administration from the total agreed settlement amount to the Settlement Administrator, not to exceed $200,000.00. To the extent this Settlement Agreement does not receive final approval, Defendant will be entitled to the return of any amounts not already incurred by the Claims Administrator in connection with Settlement Administration. The Settlement Administrator shall provide wiring instructions, including an alternative means of confirming the instructions, and a properly completed and duly executed IRS Form W-9 to Defendant within five (5) days of the entry of the Preliminary Approval Order. Following Defendant’s payment of all Settlement Fund monies as described in this Paragraph, Defendant shall have no responsibility, financial obligation, or liability whatsoever with respect to the selection of the Settlement Fund account, investment of Settlement Fund account funds, payment of federal, state, and local income, employment, unemployment, excise, and any other Taxes or Tax-Related Expenses imposed on the Settlement Fund account or its distributions, or payment of the administrative, legal, accounting, or other costs occasioned by the use or administration of the Settlement Fund.

Establishment of Settlement Fund. Within twenty-one (21) calendar days of the entry of the Preliminary Approval Order, Defendant shall cause to be deposited the costs of notice and administration through the date of final approval, as estimated by the Settlement Administrator into an account established and administered by the Settlement Administrator at a financial institution agreed upon by the Settlement Administrator, Defendant, and Class Counsel, to cover the Settlement Administrator’s reasonable set-up costs, notice, and early administration costs. Defendant shall cause to be deposited the balance of the Settlement Fund into the same account within ten (10) business days of the Effective Date. The Settlement Administrator shall provide wiring instructions and a properly completed and duly executed IRS Form W-9 to Defendant within five (5) business days of the entry of the Preliminary Approval Order.