Negotiation of Settlement Checks Sample Clauses

Negotiation of Settlement Checks. Qualified Claimants shall have one hundred twenty (120) days after the date on the settlement checks (the “Check Issuance Date”) in which to negotiate the checks. If any Qualified Claimant does not negotiate his or her settlement check within that period, the check shall be void. Sixty (60) days after the distribution of settlement checks, the Settlement Claims Administrator shall send reminder postcards via e-mail (if available) and First Class U.S. Mail to Qualified Claimants who have not yet negotiated their checks reminding them to negotiate their checks prior to the 120-day deadline. The Settlement Claims Administrator shall advise Plaintiffs’ Counsel of any uncashed checks thirty (30) days prior to the 120 day deadline and shall provide contact information for any Qualified Claimants who have not cashed their checks at that time.
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Negotiation of Settlement Checks. Any checks tendered to 28 Settlement Class Members or PAGA Group Members shall remain valid and negotiable for 1 one hundred and eighty (180) days from the date of their issuance and shall thereafter be 2 automatically cancelled if not cashed, deposited, or otherwise negotiated by the Settlement 3 Class Member or PAGA Group Member within that time, although the individual shall 4 remain a Settlement Class Member and/or PAGA Group Member bound by the Judgment 5 entered in the Action. After 180 days, any amounts from cancelled checks shall be 6 transmitted to the California Controller’s Office Unclaimed Property Division, with an 7 identification of the person to whom the funds belong, in accordance with Code of Civil 8 Procedure section 384, to be held in trust for those persons who did not timely cash their 9 settlement checks. Any checks tendered to Settlement Class Members or PAGA Group 10 Members that are returned as undeliverable will also be transmitted to the State 11 Controller’s Office Unclaimed Property Division with an identification of the person to 12 whom the funds belong, in accordance with Code of Civil Procedure section 384, to be 13 held in trust for those persons. The Parties agree that this disposition results in no “unpaid 14 residue” under Code of Civil Procedure section 384, as the entire Net Settlement Fund will 15 be paid out to Settlement Class Members or PAGA Group Members, whether or not they 16 all cash their settlement checks. Therefore, Defendant will not be required to pay any 17 interest on such amounts. Administration of the Settlement shall be completed no later 18 than two hundred and seventy (270) days from the Effective Date.
Negotiation of Settlement Checks. Each Qualified Claimant will have one hundred twenty (120) days after the date on his or her individual settlement check (the “Check Issuance Date”) in which to negotiate his or her check. If any Qualified Claimant does not negotiate his or her settlement check within 120 days after the Check Issuance Date, the check will be void (“Check Void Date”) and the funds shall remain part of the Qualified Settlement Fund and shall revert to Liberty Mutual fifteen (15) days following the Check Void Date. However, checks not cashed prior to the Check Void Date may be reissued if the Parties agree in writing, provided remaining funds have not already reverted to Liberty Mutual, as further discussed in paragraph III.G.5, below.
Negotiation of Settlement Checks. Qualified Claimants shall have ninety (90) days after the date on the settlement checks (the “Check Issuance Date”) in which to present the check for payment. If any Qualified Claimant does not present his or her settlement check for payment within 90 days after the Check Issuance Date, the check will be void and the gross amount of the Individual Settlement Payment shall revert to BWW. Any such Qualified Claimant who does not present his/her settlement check for payment by the Check Issuance Date shall not be bound by the release of claims and his/her consent to participate in the settlement covered by this Agreement shall be null and void.
Negotiation of Settlement Checks. Qualified Claimants will have one hundred twenty (120) days after the date on the settlement checks (the “Check Issuance Date”) in which to negotiate (e.g., deposit or cash) the checks. If any Qualified Claimant does not negotiate their settlement check within one hundred twenty (120) days after the Check Issuance Date, the check will be void, the amount of the check will be returned to the Settlement Fund, and Equitable shall have no further obligation to such Qualified Claimant under this Agreement. Sixty (60) days after the distribution of settlement checks, the Settlement Administrator shall send out reminder postcards via First Class U.S. Mail to Qualified Claimants who have not yet negotiated their checks reminding them to negotiate their checks prior to the 120-day deadline. The Settlement Administrator will advise Plaintiffs’ Counsel of any uncashed checks thirty (30) days prior to the 120-day deadline and will provide contact information for any Qualified Claimants who have not cashed their checks at that time. Any funds remaining in the Settlement Fund after payment to: (1) all Qualified Claimants who timely negotiate their settlement checks;

Related to Negotiation of Settlement Checks

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • EXECUTION OF SETTLEMENT AGREEMENT 36. This Settlement Agreement may be signed in one or more counterparts which together shall constitute a binding agreement.

  • Termination of Settlement If the Settlement is terminated in accordance with the Settlement Agreement, this Order shall become null and void, and shall be without prejudice to the rights of the Settling Parties, all of whom shall be restored to their respective positions existing the day before the Settlement Agreement Execution Date.

  • Modification of Settlement Agreement Any modification to this Settlement Agreement shall be in writing and signed by the Parties.

  • TERMS OF SETTLEMENT 26. The Respondent agrees to the following terms of settlement:

  • DISPUTES SETTLEMENT PROCEDURE 9.1 A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Disputes over any work related or industrial matter (including a dispute about whether a workplace right has been breached) or any matters arising out of the operation of the Agreement or incidental to the operation of the Agreement should be dealt with as close to its source as possible. Disputes over matters arising from this Agreement (or any other dispute related to the employment relationship or the NES, including subsections 65(5) or 76(4) of the Fair Work Act) shall be dealt with according to the following procedure.

  • The Settlement The Settlement was reached on May 11, 2018. Class Counsel filed this action on May 10, 2018. Over two years prior to the filing of this action, Class Counsel and Defendant’s Counsel conducted an adversarial informal discovery process. Class Counsel reviewed and analyzed thousands of pages of documents provided by Defendant and also reviewed many other documents, including U.S. Department of Labor Forms 5500 and other publicly available documents. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after six months of extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund of $17,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $17,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. In addition to the monetary component of the Settlement, the Parties to the Settlement have agreed to certain additional terms: (1) During the first eighteen months (18) following the final approval of the Settlement, Defendant has agreed that the Plan’s fiduciaries will conduct a Request for Proposal (“RFP”) process for recordkeeping services to the Plan; (2) Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option; (3) Defendant also will use an independent consultant familiar with fixed income investment options in defined contribution plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund; (4) In addition, during the three- year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees; and (5) In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (a) the lowest-cost share class available for any particular mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; (b) the availability of revenue sharing rebates on any share class available for any particular mutual fund considered for inclusion in the Plan; and (c) the availability of collective trusts, to the extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plan.

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