Payment by Defendants. The Defendants shall, no later than thirty (30) business days after the Effective Date, pay CAD$4,116,666.67 (less such amount paid by Defendants for the costs of publishing and distributing the Hearing Notice and associated professional fees pursuant to section 4.2) into the Administrative Account, controlled by the Claims Administrator, to be held in trust for the benefit of the Class and Provincial Health Insurers.
Payment by Defendants. Subject to approval of the Settlement by the Superior Court, Defendants agree: (a) to pay the Service Award, the Settlement Administration Expenses Award, and the Attorney Fees and Costs Award directly to recipients thereof by issuing a check in their respective names; and (b) to deposit the Class Fund into a Qualified Settlement Fund (“QSF”) set up by the Settlement Administrator for purposes of processing the Settlement and paying the Settlement Awards. Defendants will not be responsible for making any additional payments except as expressly set forth below, whether to the Settlement Class Members, to the Named Plaintiff, to Class Counsel, to the Settlement Administrator, or otherwise. By making the payments set forth above and funding the Qualified Settlement Fund, Defendants will fully discharge their financial obligations under this Agreement and shall have no further financial obligations under this Agreement, whether to the Settlement Class Members, to the Named Plaintiff, to Class Counsel, to the Settlement Administrator, or otherwise.
Payment by Defendants. Within ten (10) business days of the Effective Date, Defendants shall pay Plaintiffs the sum of four hundred thousand dollars ($400,000), payable to HGR Enterprises LLC.
Payment by Defendants. Five (5) days after entry of the Preliminary Approval Order (Exhibit B hereto, with no material variance unless agreed to by the Parties), Class Counsel or the Settlement Administrator will establish the Xxxxxx Settlement Account and Defendants shall, within 20 days of receiving notice of said account being opened and receipt by Defendants from Class Counsel of a fully and properly-executed Form W-9 reflecting the payee name and address and a valid taxpayer identification number and information from Class Counsel of sufficient wiring instructions to include the bank name and ABA routing number, deposit the Settlement Proceeds into such account. If this Agreement is not approved, is voided, terminated, or fails to become effective for any reason: (a) the entire amount in the Xxxxxx Settlement Account shall be promptly returned to Defendants; (b) all orders of the Court preliminarily or otherwise certifying the Settlement Class shall be vacated; and (c) the Parties shall be returned to the status quo that existed in the ED Class Lawsuit before the Parties proposed this Settlement to the Court (subject to appropriate extensions of deadlines to enable the ED Class Lawsuit to proceed), including reassignment of the ED Class Lawsuit from the magistrate judge to the district judge assigned.
Payment by Defendants. Three (3) business days after entry of the Preliminary Approval Order (Exhibit B hereto, with no material variance unless agreed to by the Parties), the Settlement Administrator will (a) establish the Xxxxxx Settlement Account, and
Payment by Defendants. TeamStaff shall pay to Atomic Fusion the aggregate sum of $550,000 (the "Settlement Proceeds") as follows:
(a) Payment of $250,000.00 as set forth in subparagraph 2(d) (the "Initial Payment").
(b) Two equal payments of $150,000.00 (each, a "Payment"), the first due on June 4, 2007 (the "2007 Payment Date") and the second due on June 2, 2008 (the "2008 Payment Date") (hereinafter referred to as the "Payments" or singularly with particularity, the "2007 Payment" and the "2008 Payment").
(c) Atomic Fusion is granted contingent title to, and possession of, 150,000 shares of TeamStaff stock (the "Shares") at $1.74 (the "Issue Price") to secure the unpaid portion of the Settlement Proceeds of $300,000.00, such Shares being accepted and governed by that certain Stock Purchase Agreement and Lock-Up Agreement of even date herewith. TeamStaff will deliver the Shares within a reasonable time following the Effective Date. Since certain corporate action must be taken to release the Shares from escrow, TeamStaff will keep Plaintiff's counsel informed of its progress in this respect, and it is contemplated that the Shares will be delivered within forty-five (45) days of the Execution Date.
(d) The Parties will obtain consent of their respective Boards of Directors. The Initial Payment is due within seventy-two (72) business hours after both Parties exchange executed Board resolutions, provided, however, that the Initial Payment will not be made later than June 12, 2006.
Payment by Defendants. Consistent with the terms set forth in this Section, Defendants agree to pay a lump sum, cumulative payment of $146,900,000.00 as collective consideration for all Releases and Stipulated Dismissals with Prejudice from all of the Verdict Cases. The Settlement Amount for each individual Verdict Claimant shall be based upon the schedule negotiated with each individual Verdict Claimant.
Section 2.3.1 Each Verdict Claimant shall place a Release (a form of which is attached as Exhibit 2 to the Verdicts Settlement) and, for cases on appeal, a stipulated dismissal agreement consistent with F.R.A.P. 42 or, for cases not yet on appeal, a Stipulated Dismissal with Prejudice (a form of which is attached to the MSA) in escrow with a copy provided to Defendants as soon as practicable after the Settlement Date.
Section 2.3.2 Defendants shall have ten (10) days from receipt of a Release from a Verdict Claimant to object to its validity by providing a written objection setting forth the reasons Defendants believe the Release is not valid. The written objection must be served on Verdict Claimant’s CAE Counsel, the NPC, the Settlement Administrator and the Settlement Special Master. If Defendants do not object to a Release from a Verdict Claimant within ten (10) days, the Release shall be deemed valid.
Section 2.3.3 Within twenty (20) days of receipt of the Releases and stipulated dismissals for all Verdict Cases, Defendants shall deposit $146,900,000.00 into the QSF.
Section 2.3.4 Upon Defendants’ payment, the Releases and stipulated dismissals for Verdict Cases will be released from escrow.
Payment by Defendants. Subject to approval of the Settlement by the Superior Court, Established Moving agrees:
(a) to pay a Service Award direct to each of the Named Plaintiffs by issuing a check in their respective names; (b) to pay the Settlement Administration Expenses Award and the Attorneys’ Fees and Costs Award directly to the recipients thereof by issuing a check in their respective names; and (c) to issue checks for the Settlement Awards to each Settlement Class Member and to deliver the same to the Settlement Administrator. Established Moving will not be responsible for making any additional payments except as expressly set forth below, whether to the Settlement Class Members, to the Named Plaintiffs, to Class Counsel, to the Settlement Administrator, or otherwise (with the exception that Established Moving agrees to pay its share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes). By Established Moving making the payments set forth above, Defendants will fully discharge their financial obligations under this Agreement and shall have no further financial obligations under this Agreement, whether to the Settlement Class Members, to the Named Plaintiffs, to Class Counsel, to the Settlement Administrator, or otherwise (again with the exception that Established Moving agrees to pay its share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes).
Payment by Defendants. Subject to approval of the Settlement by the Superior Court, Defendants agree: to deposit the Class Fund with the Settlement Administrator, in accordance with the instructions by Settlement Administrator consistent with this agreement. The Settlement Administrator may require that the Class Fund be deposited as directed into a Qualified Settlement Fund (“QSF”) set up by the Settlement Administrator for purposes of processing the Settlement and paying the Settlement Awards. In addition to payment of the Class Fund, Defendants will be responsible for making payment to the Settlement Administrator for their share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes, to be calculated by the Settlement Administrator. By making the payments set forth above, Defendants will fully discharge its financial obligations under this Agreement and shall have no further financial obligations under this Agreement, whether to the Settlement Class Members, to the Named Plaintiff, to Class Counsel, to the Settlement Administrator, or otherwise.
Payment by Defendants. Defendants will issue payment totaling Four Hundred Thirty Thousand 00/100 United States Dollars ($430,000), to be distributed as follows:
