Common use of Forfeiture Amount Clause in Contracts

Forfeiture Amount. As a result of Western Union’s conduct, including the conduct set forth in the Statement of Facts, the parties agree that each of the Offices could institute a civil and/or criminal forfeiture action against certain funds held by Western Union and that such funds would be forfeitable pursuant to Title 18, United States Code, Sections 981 and 982 and Title 28, United States Code, Section 2461(c). Western Union hereby acknowledges that at least $586 million in consumer fraud proceeds are traceable to transactions in violation of Title 18, United States Code, Sections 1343 and 2, as described in the Statement of Facts. Western Union hereby agrees to forfeit to the United States the sum of $586 million (the “Forfeiture Amount”). The Offices are collecting the Forfeiture Amount in this manner to make the funds available to compensate victims of the fraud scheme described in the Statement of Facts, pursuant to 18 U.S.C. § 981(e)(6), under the Petition for Remission and/or Mitigation procedures of the United States Department of Justice or any other manner within the United States Attorney General’s discretion. The Company hereby agrees that, in the event the funds used to pay the Forfeiture Amount are not directly traceable to the transactions, the monies used to pay the Forfeiture Amount shall be considered substitute res for the purpose of forfeiture to the United States pursuant to Title 18, United States Code, Sections 981, 982 or Title 28, United States Code, Section 2461(c), and the Company releases any and all claims it may have to such funds. The Company shall pay $146.5 million of the Forfeiture Amount plus any associated transfer fees within five (5) business days of the date on which this Agreement is signed, pursuant to payment instructions provided by the Offices in their sole discretion. The Company shall pay the remaining sum of $439.5 million plus any associated transfer fees within ninety (90) business days of the date this Agreement is signed, pursuant to payment instructions provided by the Offices in their sole discretion. The Company agrees to sign any additional documents necessary to complete forfeiture of the funds.

Forfeiture Amount. As a result of Western Union’s MoneyGram's conduct, including the conduct set forth in the Statement of Facts, the parties agree that each of the Offices Department could institute a civil and/or criminal forfeiture action against certain funds held by Western Union MoneyGram and that such funds would be forfeitable pursuant to Title 18, United States Code, Sections 981 and 982 and Title 28, United States Code, Section 2461(c). Western Union MoneyGram hereby acknowledges that at least $586 million 100,000,000 was involved in consumer the fraud proceeds are traceable to transactions schemes described in violation the Statement of Facts, and that such conduct violated Title 18, United States Code, Sections 1343 and 2Section 1343. In lieu of a forfeiture resulting from a criminal proceeding, as described in the Statement of Facts. Western Union MoneyGram hereby agrees to forfeit pay to the United States Department the sum of $586 million 100,000,000 (the “"Forfeiture Amount”"). The Offices are collecting the Forfeiture Amount in this manner to make MoneyGram hereby agrees that the funds available to compensate victims of the fraud scheme described in the Statement of Facts, paid by MoneyGram pursuant to 18 U.S.C. § 981(e)(6), under the Petition for Remission and/or Mitigation procedures of the United States Department of Justice or any other manner within the United States Attorney General’s discretion. The Company hereby agrees that, in the event the funds used to pay the Forfeiture Amount are not directly traceable to the transactions, the monies used to pay the Forfeiture Amount this Agreement shall be considered substitute res for the purpose of forfeiture to the United States Department pursuant to Title 18, United States Code, Sections 981, 982 or Title 28, United States Code, Section 2461(c), and the Company MoneyGram releases any and all claims it may have to such funds. The Company MoneyGram shall pay the Department the sum of $146.5 million of the Forfeiture Amount 65,000,000 plus any associated transfer fees within five (5) business days of the date on which this Agreement is signed, pursuant to payment instructions provided as directed by the Offices Department in their its sole discretion. The Company MoneyGram shall pay the Department the remaining sum of $439.5 million 35,000,000 plus any associated transfer fees within ninety (90) business days of the date this Agreement is signed, pursuant to payment instructions provided as directed by the Offices Department in their its sole discretion. The Company agrees to sign any additional documents necessary to complete forfeiture of the funds.