Monetary Compensation for Losses Sample Clauses
The "Monetary Compensation for Losses" clause establishes the obligation for one party to pay money to another as reimbursement for damages or losses incurred. Typically, this clause outlines the circumstances under which compensation is owed, such as breaches of contract, negligence, or failure to perform agreed duties, and may specify how the amount is calculated or the process for making a claim. Its core practical function is to ensure that parties are financially protected against losses resulting from the other party's actions or omissions, thereby allocating risk and providing a clear remedy for harm suffered.
Monetary Compensation for Losses. Settlement Class Members who submit a valid and timely Claim Form may choose all applicable claim categories below. The overall compensation cap for any individual claimant is $350.00 for all amounts claimed in Claim A and $3,500.00 for all amounts claimed in Claim B. Claims will be subject to review for completeness and plausibility by the Claims Administrator.
Monetary Compensation for Losses. Settlement Class Members who submit a valid and timely Claim Form may receive the following forms of compensation. Claims will be subject to review for completeness and plausibility by the Claims Administrator.
Monetary Compensation for Losses. Settlement Class Members who submit a valid and timely Claim Form may choose from the applicable claim categories below. Claims will be subject to review for completeness and plausibility by the Settlement Administrator. Subject to the terms below, Settlement Class Members may file claims for (1) Tier 1 or Tier 2 Alternative Cash Payments, or (2) any combination of Documented Ordinary Losses, Documented Extraordinary Losses, and Credit Monitoring Services.
(a) Tier 1: Alternative Cash Payment: Settlement Class Members whose Social Security Numbers were compromised in the Data Breach, Settlement Class Members whose PBI information was compromised in the Data Breach, and Settlement California Subclass Members with CMIA claims against IGG whose PHI was compromised in the Data Breach are eligible for a Tier 1 Alternative Cash Payment in the amount of $150.00 per Settlement Class Member upon submission of a valid Claim Form. Settlement Class Members and Settlement California Subclass Members who are eligible for and choose to claim the Tier 1 Alternative Cash Payment shall not be eligible to claim any other monetary or non-monetary benefits available to Settlement Class Members and Settlement California Subclass Members in the Settlement. Settlement Class Members who are eligible for both the Tier 1 Alternative Cash Payment and the Tier 2 Alternative Cash Payment may only elect one of these Settlement benefits. Any claim for a Tier 2 Alternative Cash Payment filed by a Settlement Class Member who is eligible to receive a Tier 1 Alternative Cash Payment will be deemed a claim for a Tier 1 Alternative Cash Payment.