Common use of Plan of Allocation Clause in Contracts

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or an Authorized Former Participant, Beneficiary, or Alternate Payee of such a person. Current Participants shall receive their settlement payments as contributions to their Plan account(s), except as provided in Paragraph 6.6 below. Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 below. 6.3 Beneficiaries will receive checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will receive checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan of allocation as if they are a Current

Appears in 3 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement, Class Action Settlement Agreement

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Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Current Participants, Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 belowParticipants, and to the Plan for distribution to the Current Participants their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or Participant, an Authorized Former Participant, Beneficiary, or a Beneficiary or Alternate Payee of such a person. . 6.2.1 Current Participants shall receive their settlement Settlement payments as contributions to one or more of their Plan account(s)accounts in the Plans, except as provided in Paragraph 6.6 below. 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their settlement Settlement payments in the form of a check, as provided in Paragraph 6.7 6.6 below. 6.3 6.2.3 Beneficiaries will shall receive checks as described in this Article 6 payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will shall receive checks payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan terms of allocation the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as if they are a Currentordered by the Court, and the Settling Parties shall have no liability for such determinations.

Appears in 3 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or Participant, an Authorized Former Participant, Beneficiary, or Alternate Payee of such a person. Beneficiary or Alternate 6.3 Current Participants shall receive their settlement payments as contributions to their Plan account(s), except as provided ) in Paragraph 6.6 below. the Plans. 6.4 Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 6.10 below. 6.3 6.5 Beneficiaries will shall receive checks as described in this Article 6 payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will shall receive checks payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan terms of allocation the applicable Qualified Domestic Relations Order. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as if they are a Currentordered by the Court.

Appears in 2 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 6.5, 6.6, and 6.7 below, and to the Plan Plans for distribution to the remaining Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or Participant, an Authorized Former Participant, Beneficiary, or a Beneficiary or Alternate Payee of such a person. . 6.2.1 Current Participants shall receive their settlement payments as either contributions to their Plan account(s)) in the Plans or by check, except as provided in Paragraph 6.6 Paragraphs 6.4 and 6.5 below. . 6.2.2 Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 6.5 below. 6.3 6.2.3 Beneficiaries will shall receive checks as described in this Article 6 payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will shall receive checks payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan terms of allocation the applicable Qualified Domestic Relations Order. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as if they are a Currentordered by the Court.

Appears in 2 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or an Authorized Former Participant, Beneficiary, or Alternate Payee of such a person. Current Participants shall receive their settlement payments as contributions to their Plan account(s), except as provided in Paragraph 6.6 below. Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 below. 6.3 Beneficiaries will receive checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will receive checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan Plan of allocation Allocation as if they are a Current

Appears in 2 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement

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Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 Paragraph 6.5 below, and to the Plan for distribution to the remaining Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or Participant, an Authorized Former Participant, Beneficiary, or a Beneficiary or Alternate Payee of such a person. . 6.2.1 Current Participants shall receive their settlement payments as either contributions to their Plan account(s)) or by check, except as provided in Paragraph 6.6 Paragraphs 6.4 and 6.5 below. . 6.2.2 Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 6.6 below. 6.3 6.2.3 Beneficiaries will shall receive checks as described in this Article 6 payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will shall receive checks payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan terms of allocation the applicable Qualified Domestic Relations Order. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as if they are a Currentordered by the Court.

Appears in 1 contract

Samples: Class Action Settlement Agreement

Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 6.5, 6.6, and 6.7 below, and to the Successor Plan for distribution to the remaining Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or Participant, an Authorized Former Participant, Beneficiary, or a Beneficiary or Alternate Payee of such a person. . 6.2.1 Current Participants shall receive their settlement payments as either contributions to their account(s) in the Successor Plan account(s)or by check, except as provided in Paragraph 6.6 Paragraphs 6.4 and 6.5 below. . 6.2.2 Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 6.6 below. 6.3 6.2.3 Beneficiaries will shall receive checks as described in this Article 6 payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will shall receive checks payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan terms of allocation the applicable Qualified Domestic Relations Order. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as if they are a Currentordered by the Court.

Appears in 1 contract

Samples: Class Action Settlement Agreement

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