Monetary Fund Sample Clauses

Monetary Fund. Jeunesse will establish a “Settlement Fund” in the amount of Two Million Five Hundred Thousand Dollars ($2.5 million). Of this amount, Jeunesse will deposit Five Hundred Thousand Dollars into an escrow account within ten (10) business days after the Court issues the Preliminary Approval Order. This initial amount may be utilized, in part, to pay all costs of providing Notice to Settlement Class Members, establishing the Settlement website, and paying all other costs incurred by the Claims Administrator. In the event that this initial payment proves insufficient to fund all such costs, the Claims Administrator will advise Jeunesse, and Jeunesse will make additional payments as required to fund these costs. Jeunesse will pay the balance, making its total payment $2.5 million, within ten (10) business days after the Final Judgment becomes Final. To the extent interest is earned on amounts held in escrow, it shall accrue and be available as part of the Available Settlement Funds. The Escrow Agent, on behalf of the Settlement Class, shall be responsible for all administrative, accounting, and tax compliance activities in connection with this escrow account.

Monetary Fund. 18 The relationship between the EU and ACP therefore turned out to be no different than any other donor relationship in which the donor imposes conditionality and direction over the use of funds. Another novelty of the amended Lomé Convention was decentralized co- operation allowing the EU to work increasingly with non-governmental organizations (NGOs) in addition to the formal cooperation via govern- ments. Xxxxxxxx voiced concern over this development as he saw it as a clear violation of the sovereignty principle and as a way of granting the Commission even more power.19 In contrast to its predecessors, Xxxx XX was valid for ten years instead of five. However, the financial commitments were to be negotiated in two trenches with a mid-term review in 1995. By the time of the review, it became apparent that the EU had lost much of its commitment: An agreement about the financial contributions was only reached at the very end of negotiations and was below the sum that the ACPs had expected.20 What had happened in the run up to the fourth Convention that made the result so different from the other three? As the EU was less and less inter- ested in the ACP region and blamed the region for having “misallocated and abused EU aid because they were generally corrupt, inefficient and au- thoritarian”21, it wanted more control over the funds. Control became more important than partnership and sovereignty. The ACP countries accepted the EU’s demands due to their different bargaining position in the 1980s as opposed to the 1970s. During negotiations of the first Lomé Treaty, the ACP countries profited from high prices of their export commodities such as coffee, sugar or food grains and from Europe’s sense of vulnerability due to the oil crisis which created its strong desire to remain a privileged trading partner in obtaining these commodities.22 18 See Xxxxxxx, p. 55.

Monetary Fund. If the Settlement is finally approved by the Court, Defendants will pay thirty-six million dollars ($36,000,000.00) to the Class as an “all-in” common fund cash benefit settlement. This amount will be paid in four installments, according to the Payment Schedule described in Section II, Paragraphs D(2)(i-ii), below. The amount paid by Defendants will be distributed to Class Members who become Eligible Claimants, in four installments, pursuant to the Allocation Plan described in Section II, Paragraph D(5) below, after deduction of court-approved Administrative Expenses, Attorneys’ Fees and Costs, and Class Representative Incentive Awards, as described in Section II, Paragraphs D(2)-(4) below. Defendants shall have no further obligation to pay any costs, expenses, attorneys’ fees, incentive payments, or any other costs or expenses, associated with the Settlement. Defendants and any Class Members (including Settling Plaintiffs and Class Representatives) remain free to enter into any separate settlement for resolution and release of Reserved Claims. No portion of the payment(s) for any such separate settlement of Reserved Claims shall come from the Monetary Fund described in Section II, Paragraph D(1)(i).

Monetary Fund. If the Settlement is finally approved by the Court, Defendants will pay thirty-six million dollars ($36,000,000.00) to the Class as an “all-in” common fund cash benefit settlement. The amounts will be paid in three annual installments, and distributed to Class Members who become Eligible Claimants by filing timely Claim Forms. Class Members will be asked to complete and timely submit a Claim Form (copies can be obtained and printed at xxx.xxxxxxxxxxxxxxxxxx.xxx or obtained by calling toll-free [TOLL-FREE NUMBER]) before the [DATE], attesting to certain facts. Those who do this will be considered an Eligible Claimant. The Monetary Fund will be divided and paid out by shares allotted to Eligible Claimants according to the Allocation Plan. Claim Forms submitted may be subject to validation by the Claims Administrator. The Allocation Plan is designed to work as follows: Because Class Counsel do not have a complete list of all Class Members’ names and mailing addresses, and do not know who currently own their refrigerators or paid for repair/replacement costs, Class Members must submit a Claim Form. The Claim Form is fairly simple and requests that the Class Member provide some basic contact information such as his/her current name, mailing address and phone number. In addition, each Class Member will be asked to state which type of Norcold refrigerator (N6, N8 or 1200 Series) he/she owns or owned, if they currently own it, and if he/she spent any money on repairs related to the cooling unit. The answer to these questions will determine how many “shares” of the Monetary Fund the Class Member (and his or her spouse or any co-owner) will be given.