Payment for Approved Claims and Remaining Settlement Costs. Within ten (10) business days after the Effective Date, Defendant shall provide funds to the Claims Administrator in an amount equal to the total amount of Approved Claims, multiplied by $20.00. These funds shall be maintained in an interest bearing account at Bank of America.
Payment for Approved Claims and Remaining Settlement Costs. Within fourteen (14) days after the Effective Date (the “Funding Date”), Defendants shall provide funds to the Claims Administrator in the full amount of $2,000,000, subject to the terms of this Agreement to be distributed to all Approved Claimants entitled to a cash settlement payment. The Cash Component of the Settlement Fund shall be maintained in a non-interest bearing account opened by the Claims Administrator. Within thirty (30) days of the Effective Date, or as soon as practicable thereafter not to exceed sixty (60) days after the Effective Date, Defendants shall apply the appropriate debt credit(s) to any Approved Claimants’ account(s) which are entitled to a debt credit under the settlement, up to the aggregate amount of $13,000,000. Within ten days of such completion, Defendants shall provide an accounting to confirm to the Claims Administrator the credits have been provided, including the names and account numbers of the account holders credited. The Claims Administrator shall conduct a random sample of such accounts in such manner based on their expertise and research to confirm to their satisfaction all credits have been provided as required.
Payment for Approved Claims and Remaining Settlement Costs. Within sixty
Payment for Approved Claims and Remaining Settlement Costs. Within five (5) business days after the Effective Date, Defendant shall provide funds to the Claims Administrator in an amount equal to the difference between what has been paid to that date and the full amount of the $950,000 Maximum Payment, subject to the terms of this Agreement. The Settlement Fund shall be maintained in an interest bearing account at Xxxxx Fargo Bank, N.A.
Payment for Approved Claims and Remaining Settlement Costs. The amount of $50,000 will be placed into an Interest Bearing Escrow Account within ten (10) days of the Court granting preliminary approval. Such escrowed funds shall be applied against the Settlement Benefit, the attorneys’ fees and/or costs payable under this Agreement, as appropriate.
Payment for Approved Claims and Remaining Settlement Costs. Within ten (10) business days after the Effective Date (the “Funding Date”), Xxxxx Fargo shall provide funds to the Claims Administrator in an amount equal to the difference between what has been paid to that date and the full amount of the Maximum Payment, subject to the terms of this Agreement. The Settlement Fund shall be maintained in an interest bearing account. Xxxxx Fargo will, upon request from the Administrator, advance any bank fees or charges associated with maintaining the administration bank account. Any such payments will be included in the deductions from the Maximum Payment, as set forth in Section 8.03.
