Master Settlement Agreement. On November 23, 1998, a $206 billion settlement was reached between California and 45 other states, Puerto Rico, the District of Columbia, three territories, and five major cigarette manufacturers in the United States concerning antitrust, consumer protection, and health-related litigation claims that were pending against the major tobacco companies at the time. The resulting Master Settlement Agreement (MSA) placed significant limitations on tobacco-related advertisements by tobacco companies and promised multi-billion dollar annual payments to the states. At the time of settlement, California was projected to receive approximately $25 billion in settlement funding through 2025. As part of the agreement, the states dropped their lawsuits against the named tobacco companies and agreed to impose similar settlement terms via state law on those tobacco companies that elected not to join the MSA. California implemented the relevant terms of the MSA against non-signatory tobacco companies, in part, by enacting the Model Escrow Statute, which required these non- signatories to make annual payments into a state-held escrow account based on the total number of cigarettes sold to California consumers as measured by state excise taxes collected on the sales. (See SB 822 (Xxxxxxx, Xx. 780, Stats. 1999); Hlth. & Saf. Code § 104555 et. seq.) The implementing statute specified that funds held in the escrow account would be used to pay judgments or settlements on any claim released by the state against the non-signatory tobacco manufacturers, or would be released back to the manufacturers under certain circumstances. The statute also authorized the California Attorney General to enforce its terms, and to bring a civil action on behalf of the state against any tobacco product manufacturer that failed to place the mandated funds into the escrow account. The MSA includes provisions that require signatory states to diligently enforce the terms of the agreement and to fund tobacco settlement escrow accounts at a rate roughly equivalent to the level of settlement payments received from signatory manufacturers under the MSA. Failure to diligently enforce the agreement and any related implementing statute exposes non-compliant states to substantial reductions in their MSA settlement payments. Attorney General Xxx Xxxxx, the sponsor of the bill, notes that California has received payments in excess of $800 million in recent years from the MSA but: These annual payments, however, ...
Master Settlement Agreement. I. INTRODUCTION Xxx Lilly and Company, a corporation (hereinafter defined in section III.C as “Lilly”) and certain plaintiffs’ counsel representing Zyprexa claimants, including all plaintiffs’ counsel who are members of the Plaintiffs’ Steering Committee (“PSC”) appointed in In re Zyprexa® Products Liability Litigation, MDL No. 1596, in the United States District Court for the Eastern District of New York and other plaintiffs’ counsel representing Zyprexa claimants have reached a confidential settlement of certain Zyprexa actions, disputes and claims subject to the terms and conditions set forth in this document. The matters included in the settlement are: a) cases pending in various state and federal courts, including the multi-district litigation, In re Zyprexa Products Liability Litigation, MDL No. 1596, pending before the Honorable Xxxx Xxxxxxxxx (“MDL”); b) claims subject to a tolling agreement; or c) informally asserted claims. These lawsuits and claims are collectively referred to as “Participating Claimants” (hereinafter defined in Section III.A). Notwithstanding the generality of the foregoing, Participating Claimants are expressly limited to those cases and claims that are being handled or controlled by the attorneys and law firms who are members of the PSC or other non-PSC law firms (“Participating Law Firms”) that are identified on the lists submitted to Lilly in accordance with Section IV.D below. The terms and conditions of this Confidential Master Settlement Agreement (“Agreement”) are as follows:
Master Settlement Agreement. Without the prior written consent of Purchaser, prior to the Closing neither of the Sellers shall enter into an agreement to become a participating manufacturer under the Master Settlement Agreement with respect to the Transferred Business.
Master Settlement Agreement. The occurrence of an "Event of Default" under Paragraph 9.1
Master Settlement Agreement. Section XII(a)(4)(A) of the Master Settlement Agree- ment is hereby amended by deleting the parenthetical phrase beginning on the 16th line of page 111 and ending on the 19th line of page 111 stating: ‘‘(an d such Released Party gives notice to the applicable Settling State within 30 days of the service of such claim-over (or within 30 days after the MSA Execution Date, whichever is later) and prior to entry into any settlement of such claim-over) ’’ and adding in place of such parenthetical phrase the following parenthetical phrase: ‘‘(an d such Released Party gives notice to the applicable Settling State at the end of the calendar quarter (the quarterly periods to end on February 20, May 20, August 20, and November 20 of each year) in which service of such claim-over is received (or within 30 days after the MSA Execution Date, which- ever is later) and prior to entry into any settlement of such claim-over; provided, however, that service of any claims received within 15 days before the end of any quarterly period shall be deemed to have been received during the subsequent calendar quarter) ’’ Section XII(a)(4)(B) of the Master Settlement Agree- ment is hereby amended by deleting the parenthetical phrase beginning after the word ‘‘se ttlement ’’ on the 10th line of page 112 and ending on the 14th line of page 112 before the work ‘‘ju dgment’’ stating: ‘‘(to the extent that such Released Party has given notice to the applicable Settling State within 30 days of the service of such claim-over (or within 30 days after the MSA Execution Date, whichever is later) and prior to entry into any settlement of such claim-over), ’’ and adding in place of such parenthetical phrase the following parenthetical phrase: ‘‘(to the extent that such Released Party has given notice to the applicable Settling State at the end of the calendar quarter in which service of such claim-over is received (or within 30 days after the MSA Execution Date, whichever is later), the end of the quarterly periods and the date on which service is deemed to have been received being those set forth in section XII(a)(4)(A) (as amended by this amendment), and prior to entry into any settlement of such claim-over), ’’ Section XII(a)(8)(A) of the Master Settlement Agree- ment is hereby amended by deleting the parenthetical phrase beginning on the 19th line of page 114 and ending on the 22nd line of page 114 stating: ‘‘(an d such Released Party gives notice to the applicable Settling State within 30 d...
Master Settlement Agreement. Notwithstanding sections II(jj) and II(uu) of the Master Settlement Agreement ( ‘‘MSA’’), ITL (USA) Limited (‘‘ITL (USA)’’) shall be considered to be a Tobacco Product Manufacturer and a Participating Manufacturer, and Imperial Tobacco Limited and Imasco Limited (collectively ‘‘I mperial’’) shall for purposes of the MSA not be consid- ered to be a Tobacco Product Manufacturer at any time after the MSA Execution Date (and Imperial shall, for purposes of the Model Statute set forth in Exhibit T to the MSA only, be considered to be a Participating Manu- facturer), provided that:
Master Settlement Agreement. 36 5.12 [Intentionally Omitted.] ...................................... 36 5.13 Moist Snuff Equipment ......................................... 36 5.14
Master Settlement Agreement. Mississippi’s attorney general filed the first state lawsuit against tobacco companies in 1994. Many states would eventually initiate litigation against the major tobacco companies as well. Four states (Florida, Minnesota, Mississippi, and Texas) settled with the tobacco companies individually prior to the MSA, while the remaining 46 states (including Pennsylvania) entered into the MSA in 1998, along with Washington D.C. and several U.S. territories. The MSA established a series of payments from the tobacco companies in perpetuity. The purpose of the MSA is to reduce smoking in the U.S., especially among youth, and is accomplished through: • Raising the cost of cigarettes by imposing payment obligations in the MSA, • Restricting tobacco advertising, marketing, and promotions, • Eliminating practices that mask the health risks of tobacco, • Providing funds to states so that they may invest in smoking prevention and cessation programs, and • Establishing and funding the Truth Initiative - an organization committed to making tobacco use and nicotine addiction a thing of the past. However, the MSA places no requirements or restrictions on how states spend their MSA receipts.
Master Settlement Agreement. REQUIREMENTS FOR TOBACCO PRODUCT MANUFACTURERS Section 5061. Findings and Purpose 5062. Definitions 5063. Requirements Part XIII-A. MASTER SETTLEMENT AGREEMENT – COMPLETEMENTARY PROCEDURES Section 5071. Findings and Purpose 5072. Definitions 5073. Certification; directory; tax stamps 5074. Agent for service of process 5075. Reporting of information; escrow installments 5076. Penalties; other remedies 5077. Miscellaneous provisions 5078. Bond
Master Settlement Agreement. Notwithstanding sections II(jj) and II(uu) of the Master Settlement Agreement, J apan Tobacco International, U.S.A. Inc. shall be considered to be a Tobacco Product Manufacturer and a Participating Manufacturer, and J apan Tobacco Inc. shall not be considered to be a Tobacco Product Manufacturer (and shall, for purposes of the Model Statute set forth in Exhibit T to the Master Settlement Agreement only, be considered to be a Partici- pating Manufacturer), provided that:
