Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to the Court’s continuing supervision and control, until the funds in the Settlement Fund are fully distributed, as follows:
1. The Settlement Fund shall be established within an Escrow Account and administered by an Escrow Agent at a bank designated by Co-Lead Counsel and administered by an Escrow Agent designated by Co-Lead Counsel. Co-Lead Counsel, Settling Defendants, and Settling Defendants’ Counsel agree to cooperate in good faith to prepare an appropriate escrow agreement in conformance with this Settlement Agreement.
2. Except as provided herein, neither the Settlement Class nor Co-Lead Counsel shall have any responsibility, financial obligation, or liability for any fees, costs, or expenses related to providing notice to the Settlement Class or obtaining approval of the Settlement or administering the Settlement. Co-
3. If there are other settlements at the time of, or within a reasonable amount of time after, the preliminary approval of this Settlement Agreement, Co-Lead Counsel shall endeavor to ensure that Class Notice and claims administration costs shall be paid from the settlement funds in this and such other settlement agreements proportionate to the amount of any such settlements, consistent with any such other settlement agreements and the approval of the Court.
4. Under no circumstances will Settling Defendants be required to pay more or less than the Settlement Amount pursuant to this Settlement Agreement. For purposes of clarification, the payment of any fee and expense award, the Class Notice and administrative costs (including payment of any applicable fees to Escrow Agent), any service awards to Plaintiffs, payments to Class Members and any other fees and costs associated with the implementation of this Settlement Agreement) shall be exclusively paid from the Settlement Fund.
5. No other funds shall be paid or disbursements made from the Settlement Fund without an order of the Court.
6. The Escrow Agent shall, to the extent practicable, invest the funds deposited in the Settlement Fund in discrete and identifiable instruments backed by the full faith and credit of the United States Government, or fully insured by the United States Government or any agency thereof, and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then-current market rates. Any cash portion of the Settlement F...
Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to the Court’s continuing supervision and control, until the funds in the Settlement Fund are fully distributed or returned to Settling Defendants as follows:
1. The Settlement Fund shall be established as an Escrow Account at a bank located in the United States designated by Settlement Class Counsel and administered by an Escrow Agent designated by Settlement Class Counsel. Counsel for the parties agree to cooperate in good faith to form an appropriate escrow agreement in conformance with this Agreement.
2. Neither the Plaintiffs, nor Class Counsel shall have any responsibility, financial obligation, or liability for any fees, costs or expenses related to providing notice to the Class or for any fees obtaining approval of the settlement, or administering the Settlement. Settlement Class Counsel may, without prior order of the Court, withdraw from the Settlement Fund up to $3,500,000.00 in United States Dollars to pay the costs of notice to the class in this Action, including costs for notice and for preliminary and final approval of this settlement, and including for the services of experts on class publication or other issues relating to notice, preliminary approval or final approval, and also to pay interim account escrow fees. In the event
3. The Escrow Agent shall, to the extent practicable, invest the funds deposited in the Settlement Fund in discrete and identifiable instruments backed by the full faith and credit of the United States Government, or fully insured by the United States Government or any agency thereof, and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. Any cash portion of the Settlement Fund not invested in instruments of the type described in the first sentence of this Paragraph shall be maintained by the Escrow Agent, and not commingled with any other funds or monies, in a federally insured bank account. Subsequent to payment into the Settlement Fund pursuant to Section II(A)(1), neither the Settling Defendants nor Settling Defendants’ Counsel shall bear any responsibility or risk related to the Settlement Fund or the Net Settlement Fund.
4. The Parties agree that the Settlement Fund and the Net Settlement Fund are each intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1 and that the Escrow Agent, as admi...
Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to the Court’s continuing supervision and control, until the funds in the Settlement Fund are fully distributed or returned to Settling Defendants, as follows:
1. The Settlement Fund shall be established within an Escrow Account and administered by an Escrow Agent at a bank agreed to by Settlement Class Counsel and administered by an Escrow Agent designated by Settlement Class Counsel. Settlement Class Counsel and Settling Defendants’ Counsel agree to cooperate in good faith to form an appropriate escrow agreement in conformance with this Agreement.
2. Neither the Plaintiffs, nor Settlement Class Counsel, shall have any responsibility, financial obligation, or liability for any fees, costs, or expenses related to providing notice to the Class or obtaining approval of the settlement, or administering the Settlement. Settlement Class Counsel may, without prior order of the Court, withdraw from the Settlement Fund up to $2,500,000 to pay the costs for notice and for preliminary and final approval of this Settlement, and including for the services of experts on class publication or other issues relating to notice, preliminary approval, or final approval. In the event that Court-ordered notice and administration costs exceed $2,500,000, Plaintiffs and Settlement Class Counsel may apply to the Court to pay such notice and administration costs from the Settlement Fund. Such costs of notice shall be non-refundable in the event that, for any reason, the Settlement is not finally approved.
3. Other than the funds referenced in Section II(C)(2) above, no funds shall be paid or disbursements made from the Settlement Fund without an order of the Court.
4. The Escrow Agent shall, to the extent practicable, invest the funds deposited in the Settlement Fund in discrete and identifiable instruments backed by the full faith and credit of the United States Government, or fully insured by the United States Government or any agency thereof, and shall reinvest the proceeds of these instruments as they mature in similar
5. The Parties agree that the Settlement Fund and the Net Settlement Fund are each intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1 and that the Escrow Agent, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be solely responsible for filing ...
Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to the Court’s continuing supervision and control, until the funds in the Settlement Fund are fully distributed or returned to Settling Defendants, as follows:
1. The Settlement Fund shall be established as an Escrow Account at a bank designated by Settlement Class Counsel and administered by an Escrow Agent designated by Settlement Class Counsel. Counsel for the Parties agree to cooperate in good faith to form an appropriate escrow agreement in conformance with this Agreement.
2. Neither the Plaintiffs nor Settlement Class Counsel shall have any responsibility, financial obligation, or liability for any fees, costs or expenses related to providing notice to the Class or obtaining approval of the settlement, or administering the Settlement.
3. The Escrow Agent shall, to the extent practicable, invest the funds deposited in the Settlement Fund in discrete and identifiable instruments backed by the full faith and credit of the United States Government, or fully insured by the United States Government or any agency thereof, and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. Any cash portion of the Settlement Fund not invested in instruments of the type described in the first sentence of this Paragraph shall be maintained by the Escrow Agent, and not commingled with any other funds or monies, in a federally insured bank account. Subsequent to payment into the Settlement Fund pursuant to Section II(A)(1), neither the Settling Defendants nor Settling Defendants’ Counsel shall bear any responsibility or risk related to the Settlement Fund or the Net Settlement Fund.
4. The Parties agree that the Settlement Fund and the Net Settlement Fund are each intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1 and that the Escrow Agent, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes, as defined below, owed with respect to the Escrow Account. Neither the Settling Defendants nor the Settling Defendants’ Counsel shall have any other liability or responsibility of any sort for filing any tax returns or paying any Taxes with respect to the Escrow Account.
5. All: (i) taxes ...
Settlement Fund Administration. Identify, collaborate, and respond to local issues to leverage and disburse Opioid Settlement Funds • Convene multi-sector meetings and lead efforts that build upon local efforts like Community Health Assessments and Community Health Improvement Plans • Implement activities as needed to prevent and respond to opioid misuse and overdose in the jurisdiction. This could include essential treatment support services, intervention, primary prevention, or other resources necessary for opioid misuse and overdose response efforts • Provide ongoing support for reporting requirements • Work with MDH, Hennepin, and other jurisdictions to mitigate xxxxx of opioid overdose and misuse in communities or specific settings (e.g., worksites, jails, shelters, schools, etc.) as able to assure local coordination of efforts • Assure ongoing communication to the community and information sharing among partners related to opioid response, prevention, intervention, and treatment • Provide ongoing and targeted support to communities at higher risk of opioid use disorder or overdose (high SVI, young adults, BIPOC, perinatal population, etc.) by working with trusted community organizations and partners • Build and/or maintain the capacity to monitor, analyze, and share data and trends related to opioid overdose and prevention efforts. The grantee should monitor demographic data and trends related to opioid use and overdose, including race, ethnicity, populations residing in areas with a high social vulnerability index (SVI), and populations most affected by the opioid epidemic (e.g., experience barriers to treatment, mental health care, etc.)
Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to
1. The Settlement Fund shall be established as an Escrow Account at a bank designated by Settlement Class Counsel and administered by an Escrow Agent designated by Settlement Class Counsel, as approved by Settling Defendant’s Counsel. Counsel for the Parties agree to cooperate in good faith to form an appropriate escrow agreement in conformance with this Agreement.
2. Neither the Plaintiffs, nor Class Counsel shall have any responsibility, financial obligation, or liability for any fees, costs or expenses related to providing notice to the Class or for any fees, obtaining approval of the settlement, or administering the Settlement. Settlement Class Counsel may, without prior order of the Court, withdraw from the Settlement Fund the amount Settlement Class Counsel incur to pay costs of notice to the class in this Action and other costs relating to settlement administration (including but not limited to costs for mail and publication notice and obtaining preliminary and final approval of this settlement, and payment of experts on class publication or other issues relating to notice, preliminary approval or final approval) multiplied by (i) the total estimated value to the Settlement Class of this Settlement Agreement divided by (ii) the total estimated value to the Settlement Class of all settlements notified to the Settlement Class in the notice sent to Class Members of this Settlement Agreement. In the event that Court ordered notice and administration costs exceed the pro-rata share in this paragraph, the Plaintiffs and Class Counsel may apply to the Court to pay such notice and administration costs from this Settlement Fund in the same proportion defined in the preceding sentence. To the extent that those costs are granted by the Court, then such costs of notice shall be non-refundable in the event that, for any reason, the Settlement is not finally approved.
3. The Escrow Agent shall, to the extent practicable, invest the funds deposited in the Settlement Fund in discrete and identifiable instruments backed by the full faith and credit of the United States Government, or fully insured by the United States Government or any agency thereof, and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. Any cash portion of the Settlement Fund not invested in instruments of the type ...
Settlement Fund Administration. The Settlement Fund shall be administered pursuant to the provisions of this Settlement Agreement and subject to the Court’s continuing supervision and control, until the funds in the Settlement Fund are fully distributed, as follows:
1. The Settlement Fund has been established within an Escrow Account and administered by an Escrow Agent at Huntington National Bank.
2. Upon the Court’s Preliminary Approval Order, Co-Lead Counsel may, without prior order of the Court, withdraw from the Settlement Fund up to $500,000 to pay for expenses associated with providing notice of the settlement to the Class, expenses for maintaining and administering the Settlement Fund, and taxes and expenses incurred in connection with taxation matters. For purposes of clarification, such costs, fees, and expenses related to providing notice to the Classes shall be paid exclusively from the Settlement Fund. Any expenses associated with providing notice of the settlement to the Class, expenses for maintaining and administering the Settlement Fund, and taxes and expenses incurred in connection with taxation matters paid or incurred shall be nonrefundable if, for any reason, the Settlement Agreement is not finally approved, is terminated, or otherwise fails to become effective.
3. Under no circumstances will Settling Defendant be required to pay more or less than the Settlement Amount pursuant to this Agreement and the settlement set forth herein, provided the Settlement Agreement is finally approved.
4. No other funds shall be paid, or disbursements made, from the Settlement Fund without an order of the Court.
5. All payments into the Escrow Account shall, at the direction of Co-Lead Counsel, be invested in instruments or accounts backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof, including a U.S. Treasury Fund or a bank account that is either: (a) fully insured by the Federal Deposit Insurance Corporation (“FDIC”); or (b) secured by instruments backed by the full faith and credit of the United States Government. Any interest earned on any of the foregoing shall become part of the Settlement Fund. Impax shall have no responsibility for, or liability in connection with, the Settlement Fund or Escrow Account, including, without limitation, the investment, administration, maintenance, or distribution thereof.
6. The Parties agree that the Settlement Fund is intended to be a “Qualified Settlement Fun...
