Issuance of Checks during Subsequent Rounds Sample Clauses

Issuance of Checks during Subsequent Rounds. (if Necessary) If the total amount of uncashed First-Round Checks (numerator) divided by the number of Participating Settlement Class Members who did cash their First-Round Check (denominator) is greater than or equal to $10.00, there will be a second round of cash payments to those Participating Settlement Class Members who cashed their First-Round Checks. The total amount of uncashed checks will be distributed pro rata to those Participating Settlement Class Members who cashed their First-Round Checks in the form of a second check (“Second-Round Check”). These checks will be issued by the Settlement Administrator within ninety (90) days following the deadline by which Participating Settlement Class Members must cash their First-Round Check before waiving their right to a cash payment under the Settlement Agreement. If the total amount of uncashed Second-Round Checks divided by the number of Participating Settlement Class Members who did cash their Second-Round Check is greater than or equal to $10.00, there will be a third round of cash payments to those Participating Settlement Class Members who cashed their Second-Round Check. The total amount of uncashed Second- Round Checks will be distributed pro rata to those Participating Settlement Class Members who cashed their Second-Round Check in the form of a third check. This process will continue with as many rounds as is necessary until the total amount of uncashed checks from the most recent round divided by the number of Participating Settlement Class Members who cashed their check during the most recent round is less than $10.00 per person. At that point, the total dollar value of uncashed checks will be paid to a charitable organization pursuant to ¶ 2.2(e).
Sample 1
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Issuance of Checks during Subsequent Rounds. (if Necessary): If the total amount of uncashed First-Round Checks divided by the number of members of the Final Settlement Class who did cash their First-Round Check is greater than or equal to $10.00, there will be a second round of cash payments to those members of the Final Settlement Class who cashed their First-Round Checks. The total amount of uncashed checks will be distributed pro rata to those members of the Final Settlement Class who cashed their First-Round Checks in the form of a second check (“Second-Round Check”). The Settlement Administrator will issue these checks within ninety (90) days following the deadline by which members of the Final Settlement Class must cash their First-Round Check before waiving their right to a cash payment under the Settlement Agreement.
Sample 1

Related to Issuance of Checks during Subsequent Rounds

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