Monetary Relief and Payments Sample Clauses
The 'Monetary Relief and Payments' clause defines the terms under which one party must pay money to another, typically as compensation for damages, losses, or as part of a settlement. This clause outlines the specific circumstances that trigger payment obligations, the calculation of amounts owed, and the timeline or method for making such payments. Its core function is to ensure that financial remedies are clearly established and enforceable, thereby providing certainty and reducing disputes over monetary compensation.
Monetary Relief and Payments. 25 A. Structure of Payments
26 1. All payments under this Section III shall be made into the McKinsey Tribal 27 Settlement Trust. The payments in the McKinsey Tribal Settlement Trust shall be allocated and 28 used only as specified in Section V of this Agreement.
1 2. On the tenth day after the Effective Date, McKinsey shall pay into the 2 McKinsey Tribal Settlement Trust the sum of $39,500,000 (United States dollars), under the 3 terms and conditions of this Agreement.
4 3. McKinsey’s payment into the McKinsey Tribal Settlement Trust includes 5 the amount necessary to comply with Pretrial Order No. 9 (Dkt. # 567) in In re McKinsey & Co., 6 Inc. National Prescription Opiate Consultant Litigation, case no. 21-md-01996-CRB (SK), 7 pending in the United States District Court for the Northern District of California (the “Common
Monetary Relief and Payments. A. Texas Statewide opioid settlement to be distributed in the amount of $75,315,611.99 (the “Texas Remediation Payment”) as a statewide opioid settlement pursuant to Tex. Gov’t Code Chapter 403 (comprised of $11,297,341.79 as the State Share, $11,297,341.79 as the Subdivision Share, and $52,720,928.34 as the Abatement Share), $7,282,379.52 as subdivision counsel fees; and $472,129.30 as State Additional Restitution to be paid in year 2, for a total of $83,070,120.81 (the “Settlement Amount”).
B. Under no circumstances ▇▇▇▇ ▇▇▇▇▇▇’s financial responsibility under this Settlement, or this Settlement plus any common benefit assessment against this Settlement, exceed $83,070,120.81, plus a maximum contribution of up to $100,000.00 to an Opioid Education Program in Texas, as described in Section III.I.
C. Subdivision participation forms of at least 96% of the population of litigating subdivisions will be obtained and provided to Kroger within 60 days of execution of this Agreement, including the Texas state bellwether jurisdictions (Dallas County and Bexar County). Texas will use good-faith efforts to obtain releases from non-litigating subdivisions as well. If less than 96% of the population of Litigating Subdivisions (as defined in the Global Settlement) execute participation forms within 60 days of execution of this Agreement, or if Dallas County and Bexar County do not both execute participation forms within 60 days of execution of this Agreement, Kroger retains the right to abandon this Agreement at its sole discretion within five (5) days. If Kroger chooses to abandon the settlement agreement because less than 96% of Litigating Subdivisions and/or Dallas and/or Bexar County do not execute releases within 60 days of execution, this Agreement shall be void in its entirety.
D. If Kroger nevertheless decides at its discretion to proceed with this Agreement, then the Agreement shall become Effective. Kroger’s payments under this Agreement will be in accordance with this Agreement.
E. This Agreement becomes effective at midnight on the 5th day after the deadline for at least 96% of the population of litigating subdivisions, and Dallas and Bexar Counties, to provide participation forms.
F. Subdivision Counsel Fees of $7,282,379.52 shall be allocated and distributed exclusively through the Texas MDL Court without any requirement that Texas Subdivision Counsel make application through the MDL process, through any National Fund Administrator, or submit in any manne...
Monetary Relief and Payments