First Distribution. The Department shall initially distribute to the City sixty percent (60%) of the Apportionment, less three percent (3%) of the Apportionment set aside for the emergency fund below. This initial amount is $249,192.00.
First Distribution. Settlement Awards shall be paid by electronic deposit or check. Within forty-five (45) days after the Effective Date,
First Distribution. Subject to Section 5.1 above, the first distribution to be paid for each Series C Unit after its issuance (the "First Distribution Payment") shall equal the product of (i) the Preferential Distribution multiplied by (ii) a fraction, the numerator of which is the First Distribution Period (as defined below) and the denominator of which is the number of days in the calendar quarter that contains such First Distribution Period. After the declaration and payment of the First Distribution Payment, Series C Units shall pay a distribution equal to the Preferential Distribution, to the extent provided herein. "First Distribution Period" shall mean that period of time that commences on the day after the closing of the MeriStar Merger and ends on and includes the last day of the calendar quarter in which such closing occurred.
First Distribution a. The Settlement Administrator shall calculate the First Distribution to Class Members as follows:
i. Calculate each Class Member’s share of the Distributable Amount by multiplying (1) the Class Member’s Net Proportion and (2) the Distributable Amount.
ii. Increase any Class Member’s share of the Distributable Amount to $10.00, so that each Class Member will receive at least $10.00 for the First Distribution. The Distributable Amount will be re-allocated until all Class Member’s awards are $10.00 or more. This modified award shall be known as the Class Member’s Entitlement Amount and used for purposes of the First Distribution, subject to Section 7 below.
iii. For Class Members with multiple account names, each account will be calculated separately, and each entitled to an increase to $10.00 if appropriate.
b. The Settlement Administrator will make diligent effort to mail the First Distribution within sixty (60) calendar days of the Effective Date. It is contemplated that distributions may be made in waves, where using that approach is more efficient for the Settlement Administrator, so that payments are not unduly delayed.
c. Class Members will be paid by check but will have the option to elect via the Settlement Website for the check to be payable into a qualified retirement account, which shall be handled by the Settlement Administrator. Checks will expire one-hundred twenty (120) calendar days after issuance, after which the checks shall be void and the Settlement Administrator shall be instructed to return any such funds to the Settlement Fund.
d. Notwithstanding these requirements, the Settlement Administrator shall have the authority to reissue checks to Class Members where it determines there is good cause to do so, provided that doing so will not compromise the Settlement Administrator’s ability to implement the Plan of Allocation (“Reissued Checks”). Reissued Checks shall expire in ninety (90) calendar days. The voidance of checks shall have no effect on the Class Members’ release of claims, obligations, representations, or warranties as provided in the Settlement Agreement, which shall remain in full effect.
First Distribution. Subject to Section 3.1, the first distribution to be paid for each Class C OP Unit after its issuance (the "First Distribution Payment") shall equal the product of (i) the Preferential Distribution (subject to adjustment in the event of a Reclassification) multiplied by (ii) a fraction, the numerator of which is the First Distribution Period (as defined below) and the denominator of which is the number of days in the calendar quarter to which such First Distribution Period corresponds. After the declaration and payment of the First Distribution Payment, Class C OP Units shall pay a dividend equal to the Preferential Distribution, to the extent provided herein. "First Distribution Period" shall mean that period of time that commences on and includes the day of issuance of such Class C OP Unit and shall end on and include the last day of the calendar quarter in which such issuance occurred.
First Distribution. 13 SECTION 5.3 AMOUNTS WITHHELD......................................... 14 SECTION 5.4
First Distribution. Immediately following the consummation of the transactions described in Section 2.5(a), Xxxxxxxx-Xxxxx shall cause KCGS to transfer to Xxxxxxxx-Xxxxx, as a dividend, all of KCGS’ right, title and interest in and to the capital stock of NP Sales.
First Distribution. The first distribution of funds to the School each fiscal year shall be contingent on the following:
(a) final facility inspection and approval, pursuant to paragraph 1.3.3 above; and
(b) the Sponsor’s verification of the School’s electronic enrollment of its students into Sponsor’s student information system.
First Distribution. The first monetary distribution to the Settlement Class Members under this Settlement Agreement, scheduled for thirty (30) days after the Court grants Final Approval of the Settlement Agreement.
First Distribution. CBS shall cause CBS Broadcasting to complete the First Distribution.
