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. (2) Within ten (10) days of the Effective Date, Siskinds shall transfer control of the Escrow Account and the Escrow Settlement Funds therein to the Administrator, but before doing so Siskinds may deduct and retain from Escrow Settlement Funds the Class Counsel Fees approved by the Court. (3) Upon the transfer of the Escrow Account to the Administrator, the Administrator shall maintain the Escrow Settlement Funds in the Escrow Account under the control of the Administrator and hold the Escrow Settlement Funds in trust as provided for in this Agreement.
Appears in 5 contracts
Samples: Class Action Settlement Agreement, Class Action Settlement Agreement, Class Action Settlement Agreement
