Common use of Payment of Settlement Amount Clause in Contracts

Payment of Settlement Amount. (a) Within thirty (30) days of the execution of the Settlement Agreement, the Settling Defendant shall pay the Settlement Amount to Class Counsel for deposit into the Account by wire transfer, in full satisfaction of the Released Claims against the Releasees. Ontario Counsel shall provide the necessary wire transfer information to counsel for the Settling Defendant with reasonable advance notice so that the Settling Defendant has a reasonable period of time to comply with section 3.1(a) of this Settlement Agreement.

Payment of Settlement Amount. (a1) Within thirty sixty (3060) days of the execution Date of the Settlement AgreementExecution, the Settling Defendant Defendants shall pay the Settlement Amount to Class Ontario Counsel for deposit into the Account Account. Apart from the single payment by wire transfer, in full satisfaction the Settling Defendants of the Released Claims against Settlement Amount, the Releasees. Ontario Counsel Releasees shall provide the necessary wire transfer information have no liability and no obligation to counsel pay any amount, for the Settling Defendant with reasonable advance notice so that the Settling Defendant has a reasonable period of time any reason, pursuant to comply with section 3.1(a) or in furtherance of this Settlement AgreementAgreement or the Released Claims.