Common use of Payments to Settlement Class Members Clause in Contracts

Payments to Settlement Class Members. (a) Defendant shall pay or cause to be paid into the Escrow Account the amount of the Settlement Fund ($13,750,000.00), specified in Section 1.33 of this Agreement, within twenty-eight (28) business days after Preliminary Approval. (b) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. Each Settlement Class Member with an Approved Claim shall be entitled to a pro rata portion of the Settlement Fund, calculated by the Settlement Administrator, by check after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, and any other costs, fees or expenses approved by the Court. The intention of the parties is that the recovery for any individual class member will not exceed the amount allowed by law. (c) The Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check with said checks being sent via first class U.S. mail to the Settlement Class Members who submitted all such Approved Claims. Payments to all Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days after Final Judgment. (d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within ninety (90) days after the date of issuance. To the extent that a check issued to a Settlement Class Member is not cashed within ninety (90) days after the date of issuance, such funds shall, subject to Court approval, revert to the Michigan Bar Foundation’s Access to Justice Fund, a non-sectarian, not-for-profit organization, or another non-sectarian, not-for-profit organization(s) recommended by Class Counsel and approved by the Court.

Payments to Settlement Class Members. (a) Defendant shall pay or cause to be paid into the Escrow Account the amount of the Settlement Fund ($13,750,000.00), specified in Section 1.33 of this Agreement, within Within twenty-eight (28) business days after entry of the Preliminary ApprovalApproval Order, Defendants shall pay into the Escrow Account the Settlement Amount. (b) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. Each Settlement Class Member with an Approved Claim shall be entitled to receive as a Cash Award a pro rata portion of payment from the Settlement Fund, calculated . The pro rata payment for each Settlement Class Member will be equal to that Settlement Class Member’s Out-of-Pocket Percentage multiplied by the Available Settlement Administrator, by check after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, and any other costs, fees or expenses approved by the Court. The intention of the parties is that the recovery for any individual class member will not exceed the amount allowed by lawFund. (c) The Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check with said checks being sent via first class U.S. mail Cash Awards to the Settlement Class Members who submitted all such Approved Claims. Payments to all those Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days after Final Judgment.by check or electronic (d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within ninety (90) days after the date of issuance. To the extent that a check issued to a any Settlement Class Member is Members do not cashed claim their Cash Awards within ninety one-hundred-eighty (90180) days after the date of issuanceCash Awards are distributed in accordance with Section 2.1(b), such Settlement Class Members shall have waived their right to a Cash Award and any unclaimed funds shall be redistributed on a pro rata basis (after first deducting any necessary settlement administration expenses from such unclaimed funds) to all Settlement Class Members who claimed their payments. (e) To the extent a secondary distribution would be infeasible, any unclaimed funds shall, subject to Court approval, revert to the Michigan Bar Foundation’s Access to Justice FundLegal Aid Society, a non-sectarian, not-for-for- profit organization, or another non-sectarian, not-for-profit organization(s) recommended by Class Counsel and approved by the Court. (f) Subject to the provisions pertaining to the termination or cancellation of the Settlement, as set forth in Paragraph 9, no portion of the Settlement Fund shall revert back to Defendants.

Payments to Settlement Class Members. (a) Defendant Congress Plaza shall pay or cause to be paid into the Escrow Account the amount of the Settlement Fund ($13,750,000.00), specified in Section 1.33 of this Agreement, 141,728.00) within twenty-eight one (2821) business days after Preliminary Approval. (b) After the Effective Date, the Settlement Administrator shall issue a pro rata distribution of the Net Settlement Fund to all Settlement Class Members shall have until the Claims Deadline to who submit an Approved Claim. Each This distribution to Settlement Class Members will be in the form of a check mailed to each Settlement Class Members’ last known address as reflected by Congress Plaza’s records, or to an alternate address for any Settlement Class Member with as determined by the Claims Administrator pursuant to Section 4.1 of this Agreement. (c) Within ten (10) days of the Effective Date, the Settlement Administrator shall pay: (1) Settlement Class Members’ distributions, pursuant to Section 2.1(b), by mailing a check to each Settlement Class Member who submitted an Approved Claim shall be entitled to a pro rata portion of Form; (2) the Settlement Fund, calculated by the Settlement Administrator, by check after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, if any; (3) the Incentive Award to Plaintiff, if any; and any other costs, fees or expenses approved by the Court. The intention of the parties is that the recovery for any individual class member will not exceed the amount allowed by law. (c4) The Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check with said checks being sent via first class U.S. mail Administrator’s fees (providing an invoice for same to the Settlement Class Members who submitted all Counsel and Defendant’s Counsel for review and approval prior to issuing such Approved Claims. Payments to all Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days after Final Judgmentpayment). (d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within ninety one hundred and eighty (90180) days after the date of issuance. To the extent that If a check issued to a Settlement Class Member is not cashed negotiated within ninety one hundred and eighty (90180) days after the date of issuance, such funds shall, subject to Court approval, revert be distributed to the Michigan Bar Foundation’s Access to Justice Fund, a non-sectarian, not-for-profit organization, or another non-sectarian, not-for-profit organization(s) organization recommended by Class Plaintiff’s Counsel and approved by the Court.

Payments to Settlement Class Members. (a) Defendant shall pay or cause to be paid into the Escrow Account the amount of the Settlement Fund ($13,750,000.0050,000,000.00), specified in Section 1.33 of this Agreement, within twenty-eight (28) business days after entry of the Preliminary ApprovalApproval Order. (b) Settlement Class Members shall have until the Claims Deadline to submit an Approved Claim. Each Settlement Class Member with an Approved Claim shall be entitled to a pro rata portion of the Settlement Fund, calculated by the Settlement Administrator, by check after deducting all Settlement Administration Expenses, any Fee Award to Class Counsel, the Incentive Award to Plaintiff, and any other costs, fees or expenses approved by the Court. The intention of the parties is that the recovery for any individual class member will not exceed the amount allowed by law. (c) The Settlement Administrator shall pay from the Settlement Fund all Approved Claims by check with said checks being sent via first class U.S. mail to the Settlement Class Members who submitted all such Approved Claims. Payments to all Settlement Class Members with Approved Claims shall be made within twenty-eight (28) days after Final Judgment. (d) All cash payments issued to Settlement Class Members via check will state on the face of the check that it will expire and become null and void unless cashed within ninety one hundred eighty (90180) days after the date of issuance. To the extent that a check issued to a Settlement Class Member is not cashed within ninety one hundred eighty (90180) days after the date of issuance, such funds shall, subject to Court approval, revert to the Michigan Bar Foundation’s Access to Justice Fund, a non-sectarian, not-for-profit organization, or another non-sectarian, not-for-profit organization(s) recommended by Class Counsel and approved by the Court. In no event shall any undistributed funds be paid back to Defendant.