SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. Subject to Court approval, in consideration for the Releases set forth in Section 10 as well as other provisions of this Agreement, Allstate will fund a non-reversionary common fund (“Settlement Fund”) of three million, three hundred thousand dollars ($3,300,000.00), from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and any Service Award will be deducted. The Settlement Fund represents the limit and total extent of Allstate’s monetary obligations under this Agreement and the Settlement. In no event shall Allstate’s total financial liability with respect to this Agreement and the Settlement exceed three million, three hundred thousand dollars ($3,300,000.00). Allstate will fund the Settlement Fund as follows: within forty-five (45) days following entry of the Preliminary Approval Order, Allstate will transfer five hundred thousand dollars ($500,000.00) to the Administrator (via wire instructions provided by the Administrator to Allstate) to an interest-bearing escrow account to be used to pay for the Notice Program and administration of the Settlement by the Settlement Administrator. The Administrator will hold those amounts until such time as the Administrator is authorized to use or pay those funds, including for any authorized up- front Notice and Administrative Costs, pursuant to the Agreement, the Preliminary Approval Order, and the Final Approval Order. Within fourteen (14) days of the Effective Date, Allstate shall transfer to the Settlement Administrator two million, eight hundred thousand dollars ($2,800,000.00), the remaining amount of the Settlement Fund. The Court may retain continuing jurisdiction over the Settlement Fund sufficient to satisfy the requirements of 26 C.F.R. § 1.468B-1. The Administrator shall at all times seek to have the Settlement Fund treated as a “qualified settlement fund” as that term is defined in 26 C.F.R. § 1.468B-1. The Administrator shall cause any taxes imposed on the earnings of the Settlement Fund, if any, to be paid out of such earnings and shall comply with all tax reporting and withholding requirements imposed on the Settlement Fund under applicable tax laws. The Administrator shall be the “administrator” of the Settlement Fund pursuant to 26 C.F.R. § 1.468B-2(k)(3). Each Claimant shall be entitled to receive Settlement Relief upon certification that he or she was called on a cellular telephone by Allstate once or more during the Class Period and did not consent to hav...
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Defendant will provide the following benefits.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Wilmington Trust will fund a non-reversionary common Settlement Fund of $185,270.25, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and an Incentive Award, if any, will be deducted.
4.1.1. Wilmington Trust will fund the Settlement Fund as follows: Within thirty
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Ocwen will provide the following benefits.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Defendants will provide the following benefits.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Shellpoint will provide the following benefits.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10 as well as other provisions of this Settlement Agreement, Defendants will provide the following benefits, in addition to other consideration described in this Settlement Agreement.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 20 In consideration for the Releases set forth in Section 10 as well as other provisions of 21 this Agreement, Defendant will fund a non-reversionary common fund (“Settlement Fund”) of one 22 million, five hundred thousand dollars ($1,500,000.00), from which all Settlement Relief, Attorneys’ 23 Fees and Costs, Notice and Administrative Costs, and any Service Award will be deducted. 24 The Settlement Fund represents the limit and total extent of Defendant’s 25 monetary obligations under this Agreement and the Settlement. In no event shall Defendant’s total 26 financial liability with respect to this Agreement and the Settlement exceed $1,500,000.00.
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. 4.1. In consideration for the Releases set forth in Section 10, Defendants will provide the following benefits.
4.2. Defendants will fund a non-reversionary common Settlement Fund of $2,400,000, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and Incentive Awards will be paid. The Settlement Fund represents the limit and total extent of Defendants’ monetary obligations under this Agreement and the Settlement. In no event shall Defendants’ total financial liability with respect to this Agreement and the Settlement exceed $2,400,000.
4.2.1. Within thirty-five (35) Days following entry of the Preliminary Approval Order, Defendants will transfer $180,000 (the “Administrative Payment”) to the Settlement Administrator (via wire instructions provided by the Settlement Administrator to Defendants) for Notice and Administrative Costs and any additional expenses the Settlement Administrator incurs as part of the administration of the Settlement Agreement, the Preliminary Approval Order, the Final Approval Order, or the Judgment. The Settlement Administrator shall maintain the Administrative Payment in a non-interest bearing account. If and to the extent the costs of administration exceed the initial Administrative Payment, the Settlement Administrator may: (i) request Defendants to provide additional funds from the Settlement Fund to supplement the initial Administrative Payment to be applied towards Notice and Administrative Costs, and any additional expenses the Settlement Administrator incurs as part of the administration of the Settlement Agreement, the Preliminary Approval Order, the Final Approval Order, or the Judgment, which Defendants will not unreasonably withhold; or (ii) request from the Court that any additional expenses incurred as part of the administration to be paid out of the Settlement Funds. Absent extraordinary and unforeseen circumstances, the amount paid to the Settlement Administrator shall not exceed $210,000. Any amounts paid by Defendants towards the Administrative Payment which are not incurred by the Settlement Administrator shall be added into the Settlement Class Recovery. Within thirty-five (35) days following the Final Settlement Date, the Defendants will transfer the remainder of the Settlement Fund ($2,400,000 minus total Administrative Payments) to the Settlement Administrator for the Settlement Administrator to distribute all Settlement Relief, Attorneys’ Fees and Costs, Notice and Ad...
SETTLEMENT CONSIDERATION, BENEFITS, AND OTHER RELIEF. In consideration for the Releases set forth in Section VIII the following relief will be provided:
4.01 The Class and Subclass Defendants’ representations regarding the Class Members and Subclass Members assume that the judgments of all Class Members and Subclass Members were based on Consumer Debt. Defendants dispute that there is any record evidence to support this assumption and make it only for purporses of effectuating this Settlement. Based on Defendants’ records, and without conceding that the judgment of any Class Member or Subclass Member was based on a Consumer Debt, Defendants believe there are 481 Class Members and, of those persons, 276 are also Subclass Members. An aggregate amount of $653,143.19 has been collected from Class Members by judicial action (including obtaining Writs of Execution, wage garnishment, and bank levy). Court costs were incurred by Defendants in the aggregate amount of $169,904.00 in connection with pursuing judicial actions to enforce the judgments of Class Members.
4.02 Upon Final Approval of the Settlement, and after receiving specific payment instructions and all required tax information from the Class Administrator and all information needed to determine the identities of Valid Claimants, Defendants will deposit the following amounts into an interest-bearing escrow account: 1) $50,000 to be held for Valid Claimants who are Subclass Members; and 2) the total amount collected from Valid Claimants through judicial action to enforce the judgments entered against them, including all costs collected, plus seven (7) percent interest on all amounts collected to be calculated from the date of collection. The Class Administrator will hold these amounts until such time as the Parties authorize the distribution of the funds to Valid Claimants, which will be on or before the Distribution Date.
4.03 Valid Claimants will receive, on or before the Distribution Date, the total amount collected from them by or on behalf of Defendants through judicial action to enforce the judgment entered against them and in favor of Arrow, including all costs collected, plus seven
