Settlement Amount to be Held in Trust Sample Clauses

Settlement Amount to be Held in Trust. (1) Prior to the Effective Date, Siskinds shall maintain the Escrow Account and hold the Escrow Settlement Funds in trust as provided for in this Agreement.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Settlement Amount to be Held in Trust. 1.3 Prior to the Effective Date, Class Counsel shall maintain an Escrow Account to hold the Settlement Amount in trust for the benefit of the Class.
Sample 1Sample 2
Settlement Amount to be Held in Trust. (1) Prior to the issuance of the Approval Orders, Siskinds shall maintain the Escrow Account and hold the Settlement Amount in trust as provided for in this Agreement. After the date that is ten (10) days after the issuance of the last Approval Order, the Administrator shall maintain the Escrow Account in an account at a Canadian Schedule 1 bank in Ontario under the control of the Administrator and hold the Settlement Amount in trust as provided for in this Agreement. No amount shall be paid out from the Escrow Account by either Siskinds or the Administrator, except in accordance with this Agreement, or in accordance with an order of the Court obtained on notice to the Parties.
Sample 1Sample 2
Settlement Amount to be Held in Trust. (1) Prior to the issuance of the Approved Settlement Order (Fresco) and the Quebec Settlement Order, Sotos LLP shall maintain the Escrow Account and hold the Settlement Amount in trust as provided for in this Settlement Agreement. After the issuance of the Approved Settlement Order (Fresco) and the Quebec Settlement Order, the Administrator shall maintain the Escrow Account and hold the Settlement Amount in trust as provided for in this Settlement Agreement. No amount shall be paid out from the Escrow Account by either Sotos LLP or the Administrator, except in accordance with this Settlement Agreement, or in accordance with an order of the Court obtained on notice to the Parties.
Sample 1Sample 2
Settlement Amount to be Held in Trust. 5.5 Class Counsel shall hold the Settlement Amount in the Escrow Account and shall invest the Settlement Amount in a liquid money market account or equivalent security with a rating equivalent to, or better than that of an interest-bearing account in a Canadian Schedule 1 bank.
Sample 1
Settlement Amount to be Held in Trust. (1) Prior to the issuance of the Settlement Approval Order, Xxxxxx Xxxxxx shall maintain the Escrow Account and hold the Settlement Amount in trust as provided for in this Agreement. After the issuance of the Settlement Approval Order, the Administrator shall maintain the Escrow Account at a Canadian Schedule 1 bank in Ontario under the control of the Administrator and hold the Settlement Amount in trust as provided for in this Agreement. No amount shall be paid out from the Escrow Account by either Xxxxxx Xxxxxx or the Administrator, except in accordance with this Agreement, or in accordance with an order of the Court obtained on notice to the Parties.
Sample 1
Settlement Amount to be Held in Trust. (1) Class Counsel, and then the Administrator after the Settlement becomes final, shall hold the Settlement Amount in trust and in the Escrow Account and shall not pay out any amount from the Escrow Account, except in accordance with the terms of this Agreement, or pursuant to an order of the Court made on notice to the Parties.
Sample 1
AutoNDA by SimpleDocs

Related to Settlement Amount to be Held in Trust

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Payments Deemed Held in Trust Any Holder who receives a payment on a Note while an Event of Default remains in eRect with respect to such Note in excess of the amount such Holder should have received shall be deemed to be holding such excess in trust for the benefit of other Holders and the Representative, and shall return such excess on demand.

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

Time is Money Join Law Insider Premium to draft better contracts faster.