Common use of Settlement Facility Projections Clause in Contracts

Settlement Facility Projections. In conjunction with the Independent Assessor, the Finance Committee shall, commencing the first quarter after the conclusion of the opt-out process and on a quarterly basis thereafter or at the request of the District Court, prepare projections of the likely amount of funds required to pay in full all pending, previously Allowed but unpaid and projected future First Priority Payments. Such projections shall, to the extent known or knowable, be based upon and take into account all data (as of the date of the analysis) regarding (i) the number of Claims filed with the Settlement Facility, (ii) the rate of Claim filings in the Settlement Facility, (iii) the average resolution cost of Claims in the Settlement Facility, (iv) the pending Claims in the Settlement Facility, and (v) projected future filings with the Settlement Facility. Such projections shall also state the anticipated time period for the resolution and payment of such Claims. Projections made during the first twelve (12) months of the operation of the Settlement Facility may take into account, in addition to the above, the claims resolution experience of the MDL 926 Claims Office. These projections are not a pre-requisite to paying First Priority Payments, and nothing in this subsection is intended to delay the payment of First Priority Payments in respect of Allowed Claims.

Settlement Facility Projections. In conjunction with the Independent Assessor, the The Finance Committee shall, commencing the first quarter after the conclusion of the opt-out process and on a quarterly basis thereafter or at the request of the MDL 926 Court or the District Court, prepare projections of the likely amount of funds required to pay in full all pending, previously Allowed but unpaid and projected future First Priority Payments. Such projections shall, to the extent known or knowable, be based upon and take into account all data (as of the date of the analysis) regarding (i) the number of Claims filed with the Settlement Facility, (ii) the rate of Claim filings in the Settlement Facility, (iii) the average resolution cost of Claims in the Settlement Facility, (iv) the pending Claims in the Settlement Facility, and (v) projected future filings with the Settlement Facility. Such projections shall also state the anticipated time period for the resolution and payment of such Claims. Projections made during the first twelve (12) months of the operation of the Settlement Facility may take into account, in addition to the above, the claims resolution experience of the MDL 926 Claims Office. These projections are not a pre-requisite to paying First Priority Payments, and nothing in this subsection is intended to delay the payment of First Priority Payments in respect of Allowed Claims.