Funding of Settlement. Defendant shall wire to the Settlement Administrator the Gross Settlement Amount within thirty (30) calendar days of the Effective Final Settlement Date.
Funding of Settlement. Defendants shall remit to the Settlement Administrator the Gross Settlement Amount within ten (10) calendar days of the Effective Final Settlement Date.
Funding of Settlement. The Gross Settlement Fund shall be used to pay, in the following order: (1) all Administrative Costs, (2) any taxes owed by the Gross Settlement Fund (but not any taxes owed by any individual Class Counsel, Plaintiff, or Class Members), (3) any Fee and Expense Award approved by the Court,
Funding of Settlement. Within ten (10) calendar days following the Effective Date, Defendant shall transfer or cause to be transferred the approved amount of the GSF to the Settlement Administrator. No funds will be payable by Defendant prior to that time.
Funding of Settlement. 10.1 No funding of any Individual Settlement, or any part thereof, by Xxxxxx Medical will occur until the 95% Acceptance Requirement has been satisfied or waived by Xxxxxx Medical, a fully executed Release and Dismissal have been delivered to Xxxxxx Medical pursuant to Sections 8.1 and 9.1.2, and lien amounts have been confirmed by the LRA in writing to Xxxxxx Medical pursuant to Sections 7.1 and 9.1.2.
10.2 Plaintiffs’ Counsel will create and seek to obtain an order from the Court in the MDL designating one or more interest-bearing qualified settlement fund accounts (each a “QSFA”) within the meaning of Treas. Reg. § 1.468B-1, to receive payments from Xxxxxx Medical pursuant to Individual Settlements.
Funding of Settlement. Within 10 calendar days following the occurrence of the Effective Date, Defendant shall transfer the required funds to the Qualified Settlement Fund. No funds will be payable by Defendant prior to that time. Within 10 calendar days of the Funding Date, the Settlement Administrator shall distribute the funds in accordance with the terms of this Settlement Agreement as approved by the Court, including the settlement awards from the Qualified Settlement Fund to all Participating Class Members that have submitted a timely and valid claim, and the Court-approved attorneys’ fees, costs, and expenses, and the Plaintiff’s Service Award.
Funding of Settlement. Within 10 days following the occurrence of the Effective Date of the settlement as defined in Paragraph 7 above, Defendant shall transfer $585,000.00 of the Gross Settlement Fund amount to an account specifically created by the Settlement Administrator for the administration of this settlement. No funds will be payable by Defendant prior to that time. Within 10 days following Defendant’s deposit of the funds into the account created by the Settlement Administrator, the Settlement Administrator shall distribute the funds in accordance with the terms of this Settlement Agreement as approved by the Court, including the settlement awards from the Net Settlement Fund to all Settlement Class members that have submitted a timely claim, and the Court-approved attorneys’ fees, costs, and expenses, and the Plaintiff’s Service Award and severance payment.
Funding of Settlement. The Gross Settlement Fund and the employer’s share of payroll taxes as set forth in Paragraph 11 will be made by Defendants to the Settlement Administrator by wire transfer within ten (10) calendar days after the Effective Date. Settlement payments shall be mailed by First Class U.S. Mail to Settlement Class Members and eligible Class Members’ last known mailing address within fourteen (14) calendar days after Funding. Settlement checks which are uncashed after One Hundred Twenty (120) days of issuance of the check shall be tendered to the State Controller’s Office, Unclaimed Property Division in the name of the Settlement Class Member and the amount of the check was cancelled.
Funding of Settlement. (a) Within fourteen (14) calendar days after the Effective Date, Defendant will transfer the Gross Settlement Amount to the Settlement Account established by the Administrator.
(b) Defendant will be responsible for paying an amount equal to the employer’s portion of payroll taxes due as a result of wage payments made from the Gross Settlement Amount. As specified in Paragraph 15(b), the Administrator shall be responsible for transmitting payment for these payroll taxes to the appropriate taxing authorities.
(c) With respect to the Settlement Account, the Administrator shall: (1) open and administer the Settlement Account in such a manner as to qualify and maintain the qualification of the Settlement Account as a “Qualified Settlement Fund” under Section 468B of the Code and Treas. Reg. § 1.468B-1; (2) calculate, withhold, remit, and report each Participating Settlement Class Member’s share of applicable payroll taxes in connection with the Settlement Payment for Participating Settlement Class Members; (3) satisfy all tax reporting, return and filing requirements with respect to the Settlement Account and any interest or other income earned by the Settlement Account; and (4) satisfy all taxes (including any estimated taxes, interest or penalties) with respect to the interest or other income earned by the Settlement Account. Fees, expenses and costs incurred in connection with the opening and administration of the Settlement Account shall be treated as and included in the costs of administering the Settlement Account as Administrative Costs. The Parties and the Administrator shall elect to treat the Settlement Account as coming into existence as a Qualified Settlement Fund on the earliest date set forth in 26 C.F.R. § 1.468B-1(j)(2)(i), and such election statement shall be attached to the appropriate returns as required by
Funding of Settlement. Within thirty (30) business days after the Effective Date, Defendant shall pay the settlement sum of $1,500,000.00 and the amount that the Settlement Administrator advises is due for Employer Taxes, by transferring these amounts to a settlement account established by the Settlement Administrator for administration of the Settlement. The delivery of the Maximum Gross Settlement Amount to the Settlement Administrator plus its share of Employer’s Taxes shall constitute full and complete discharge of the entire obligation of Defendant under this Agreement. Once Defendant has made such payments, it shall be deemed to have satisfied all the terms and conditions under this Settlement Agreement, shall be entitled to all protections afforded to Defendant under this Agreement, and shall have no further obligations under the terms of the Agreement regardless of what occurs with respect to those sums. Additionally, no Released Parties shall have any further obligation or liability to the Names Plaintiffs, PAGA Releases or Settlement Class Members under this Agreement.
