Payment of Settlement Funds. (1) Within thirty (30) days of the Execution Date, the Defendants shall pay the Settlement Funds to Siskinds, in trust, to be deposited into the Settlement Trust from which funds shall be paid toward Settlement Administration Expenses incurred prior to the issuance of the Settlement Approval Order, subject to subsection 4.4(1).
(2) The Settlement Funds shall be converted into Canadian Dollars at prevailing rates and Siskinds shall report the currency conversion to the Defendants upon deposit into the Settlement Trust. After such conversion, all references to the Settlement Trust or its contents, including for greater certainty, the Settlement Trust Amount and the reference in subsection 5.1(2), shall be to this Canadian Dollar amount.
(3) The Settlement Funds represent the full monetary contribution or payment of any kind to be made by the Defendants in full satisfaction of the Action and Released Claims against the Releasees, inclusive of claims, interest, legal fees (including Class Counsel Fees), disbursements, taxes (inclusive of any HST or any other taxes which may be payable in respect of this Settlement), all costs associated with the distribution of benefits, all costs of any necessary notice, all costs associated with the administration of the Settlement and any other monetary costs or amounts associated with the Settlement or otherwise.
(4) Subject to and following the Final Order approving the Settlement, the Settlement Trust Amount shall be distributed from the Settlement Trust in accordance with Section 7 of this Settlement Agreement.
Payment of Settlement Funds. A plan of distribution to pay the settlement funds to Class Members must now be approved by the Courts. The proposed Distribution Protocol can be found at xxx.xxxxxxxxxxxxxxxxxxx.xx.
Payment of Settlement Funds. 2.1 For complete release of all claims that any party to this Settlement Agreement has against any other party to this Settlement Agreement, and in return for the representations and warranties entered into, the FDIC shall pay to MAXXAM the sum of ten million dollars ($10 FDIC x. Xxxxxxx Settlement Agreement December 17, 2008 million)(“Settlement Funds”) to be paid by wire transfer in accordance with the instructions provided by MAXXAM’s counsel to the FDIC or its counsel. Payment of the Settlement Funds shall occur within two business days of receipt by the FDIC of a fully executed Settlement Agreement; otherwise, this Agreement shall be null and void.
2.2 In the event that Xxxxxxx, MAXXAM or Federated breach any of their obligations of any kind under this Settlement Agreement, this agreement shall be of no effect and any sums paid pursuant to Paragraph 2.1 shall be recoverable by the FDIC from the Xxxxxxx Related Parties with interest and reasonable attorneys fees.
2.3 In the event that the FDIC breaches any of its obligations of any kind under this Settlement Agreement, and it becomes necessary for Xxxxxxx, MAXXAM, or Federated to enforce such settlement agreement, such parties may recover their reasonable attorneys fees in doing so.
Payment of Settlement Funds a. In consideration of the terms set forth herein, Saxton shall pay to VOA National, XXX Nevada and VOA Saratoga (collectively, the "VOA Entities") the consideration set forth below, hereby valued at One Million Three Hundred Twenty Five Thousand Dollars ($1,325,000.00) (the "Settlement Amount"), which the VOA Entities may distribute among themselves in the manner that they choose.
(1) The sum of One Hundred Twenty Five Thousand Dollars ($125,000.00) shall be paid in cash upon execution of this Agreement; (2) The sum of One Hundred Thousand Dollars ($100,000.00) shall be paid in cash on the first anniversary date of the execution of this Agreement; (3) The sum of One Hundred Thousand Dollars ($100,000.00) shall be paid in cash on the second anniversary date of the execution of this Agreement; and (4) Shares of common stock, par value $0.001 per share (the "Common Stock"), of Saxton with an aggregate value xx Xxx Million Dollars ($1,000,000.00), with such shares to be valued at the average closing market price of Saxton's Common Stock on the NXXXXX Xxock Market (or in the absence of any trading on any such day the average of the closing bid and asked quotations) on each of last twenty (20) trading days immediately preceding the date of this Agreement (the "VOA Common Stock"). The VOA Entities shall be entitled to registration rights with regard to the VOA Common Stock as set forth in Exhibit A attached hereto.
Payment of Settlement Funds. Defendants shall electronically transfer to an account established by the Settlement Administrator (the “Settlement Account”) sufficient funds to pay the claims of Class Members who have returned claims forms in accordance with the requirements of the Court’s order, within five (5) days of the latter of (1) receipt by Defendants’ Counsel and the Plaintiffs’ Counsel of notification from the Settlement Administrator of the amount required to pay such claims, or (2) five (5) days of the Effective Date. The Settlement Administrator shall mail the settlement checks to the Class Members within thirty (30) days of receipt of the Effective Date. Defendants shall separately electronically transfer, by a check made payable to or wire transfer to an account identified by Plaintiffs’ Counsel for the benefit of the appropriate party, such funds as are necessary to pay any attorneys’ fees and named-plaintiff Incentive Award approved by the Court within five (5) days of the Effective Date.
Payment of Settlement Funds. Within seven (7) days from the full execution of this Agreement, Atain Specialty Insurance Company shall tender a check in the amount of $2,500.00 to counsel for Plaintiffs, and Great American Insurance Company shall tender a check in the amount of $2,500.00 to counsel for Plaintiffs. Both checks shall be made out to “Green, Xxxx & Xxxxxxxx, LLP.” Within seven (7) days from the full execution of this Agreement, Defendants shall tender a check in the amount of $25,000.00 to counsel for Plaintiffs, made out to “Green, Sapp, & Xxxxxxxx, LLP.” It is acknowledged by the Parties that the above settlement funds may be used by Plaintiffs for, inter alia, “re-construction of the Monument on property located off and separate from the Property, reimbursement of Plaintiffs' legal expenses related to the Lawsuit, as well as application for and construction of a Georgia Historical Society historical marker or other sign for the Property as set forth below in Section 3.
Payment of Settlement Funds. At closing and upon execution and delivery of this Agreement, signed by all parties, Internet America shall deliver and pay the total nonrefundable and irrevocable amount of $3,250,000.00 (Settlement Payment) in good and valid presently available United States dollars in the form of a certified check made payable to Xxxxx Xxxxxxxxx and Xxxx Xxxxxxx, which payment shall be delivered to counsel for Xxxxxxxxx, Xxxx Xxxxxxx, at said closing. At closing of this Agreement, Internet America shall issue a Form 1099-MISC that reports the Settlement Payment as “other income” to Xxxxxxxxx, and Internet America shall file such Form 1099-MISC consistent with applicable laws. Together with this Agreement, Internet America shall supply copies of the Form 1099-MISC to Xxxxxxxxx by delivering same to her counsel, in the form attached hereto as Exhibit “C.” The Form 1099-MISC will not be amended by Internet America.
Payment of Settlement Funds. The City shall pay the sum of
Payment of Settlement Funds. Within 14 days before the Effective Date, FCI shall distribute all monies set forth in ¶13(a) to the Class Administrator, First Class, Inc. located at 0000 X. Xxxxxxxxx Rd., Ste. 222, Chicago, Illinois 60644. The Class Administrator shall then distribute all such payments as soon as practical. Within 14 days before the Effective Date, FCI shall distribute all monies set forth in ¶13(b) to Class Counsel. The check for the monies described in ¶ 13(b) and ¶ 14 shall be made payable to “Xxxxxxxx Law Offices, PC Trust Account.”
Payment of Settlement Funds. 22. Within sixty (60) days of the Effective Date, Monsanto, on behalf of the entities described in Paragraphs 5 and 16, agrees to pay to the State, as full and final settlement of the Action, the sum of ninety-five million dollars ($95,000,000.00).
