Common use of Payment of Settlement Amount Clause in Contracts

Payment of Settlement Amount. ‌ (1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.‌ (2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before the Date of Execution to facilitate compliance with Section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings against the Settling Defendants and any and all Released Claims as against all the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the Proceedings. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Proceedings, this Settlement Agreement or the Released Claims. (5) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts on notice to the Settling Defendants, to the Claims Administrator. (6) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement. (7) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts obtained after notice to the Settling Defendants.‌

Payment of Settlement Amount. ‌ (1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.‌Account. (2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before at least thirty (30) days prior to the Date of Execution Settlement Amount becoming due to facilitate compliance with Section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings against the Settling Defendants and Releasees who are named as Defendants, and any and all Released Claims as against all the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the Proceedingscosts. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Proceedings, this Settlement Agreement or the Released Claims. (5) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts on notice to the Settling Defendants, to the Claims Administrator. (6) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement. (7) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts obtained after notice to the Settling Defendants.‌Defendants.

Payment of Settlement Amount. ‌ (1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.‌Account. (2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before the Date of Execution to facilitate compliance with Section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings against the Settling Defendants and any and all Released Claims as against all the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the Proceedings. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Proceedings, this Settlement Agreement or the Released Claims. (5) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts on notice to the Settling Defendants, to the Claims Administrator. (6) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement. (7) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts obtained after notice to the Settling Defendants.‌Defendants.

Payment of Settlement Amount. ‌ (1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.‌Account. (2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before the Date of Execution to facilitate compliance with Section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings against the Settling Defendants and any and all Released Claims as against all the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the Proceedings. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Proceedings, this Settlement Agreement or the Released Claims. (5) The Settlement Amount shall be maintained in the Trust Account by BC Counsel until the Effective Date. Notwithstanding Sections 3.1(6) and 3.1(8), no part of the Settlement Amount shall be transferred or paid out until the Effective Date, except as provided for in section 6, in the event of termination of this Settlement Agreement. (6) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts on notice to the Settling Defendants, to the Claims Administrator. (67) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement. (7) 8) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts obtained after notice to the Settling Defendants.‌Defendants.

Payment of Settlement Amount. ‌ (1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.‌Account. Upon deposit, the Settlement Amount may be converted to Canadian dollars. (2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before the Date of Execution to facilitate compliance with Section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings BC Action against the Settling Defendants and any and all Released Claims as against all the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the ProceedingsBC Action. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the ProceedingsBC Action, this Settlement Agreement or the Released Claims. (5) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts Court on notice to the Settling Defendants, to the Claims Administrator. (6) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement. (7) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts Court obtained after notice to the Settling Defendants.‌Defendants.