Interest on Settlement Amount Sample Clauses

Interest on Settlement Amount. No interest will accrue on the Settlement Amount provided that valid and properly payable claims made by Class Members are paid within the timeframes set forth in this Settlement Agreement. To the extent any valid and properly payable claims made by Class Members are not paid within the timeframes set forth in this Settlement Agreement, interest will accrue on those unpaid claims only. Such interest will accrue at the Missouri Post-Judgment Interest Rate set forth in the version of §408.040, RSMo, existing at the date of this settlement (9 percent), and shall be measured from the date of the final approval order until the date such claims are paid.

Interest on Settlement Amount. In the event that COP does not deposit $50,800,000 of the Settlement Amount in the Escrow Account and pay the $250,000 to reimburse the Class Representative for the Confirmation Process within ten (10) business days of Preliminary Approval by the First Judicial District Court of the Settlement Agreement, then, beginning on the eleventh (11th) business day after such preliminary approval, COP shall bear interest at the rate of 6% per annum on that portion of the Settlement Amount and the $250,000 for reimbursement to Class Representative for the Confirmation process until paid into the settlement Escrow Account or to the Class Representative. In the event of any appeal from the Final Approval of the Settlement Agreement, any portion of the Settlement Amount or the $250,000 for reimbursement of the Confirmation Process held by COP shall continue to bear interest at the rate of 6% per annum until deposited in the settlement Escrow Account or paid to Class Representative.

Interest on Settlement Amount. If Burlington does not deposit the Settlement Amount in the Escrow Account within ten (10) business days of Preliminary Approval, then Burlington shall thereafter deposit in the Escrow Account the Settlement Amount plus simple interest at the rate of six percent (6%) per annum, calculated from the eleventh (11th) business day after such Preliminary Approval through the date the Settlement Amount plus such interest is paid into the settlement Escrow Account. In the event of any appeal from the Final Approval of the Settlement Agreement, the Settlement Amount held by Burlington shall continue to bear simple interest at the rate of six percent (6%) per annum until deposited in the Escrow Account. For the avoidance of doubt, after the Settlement Amount is deposited in the Escrow Account, Burlington shall not be responsible for payment of any interest thereafter.