Settlement Fund Allocation Sample Clauses

Settlement Fund Allocation. The identification of Class Members to receive monetary relief and distribution of such monetary relief is the exclusive responsibility of Class Counsel, Claims Administrator, and Claims Allocator, acting on behalf of the Class. The Agency shall not be held responsible or liable for providing information or data used to distribute monetary relief, determining the distribution methodology, the determination of monetary relief to be accorded each individual, or other aspects of the monetary awards process. The individual awards owed to Class Members, including Class Agents, is not enforceable against the Agency. The Settlement Fund shall be apportioned as follows, subject to the Final Order approving this Settlement Agreement: 1. Up to $4,950,000, representing thirty-three percent (33%) of the Settlement Fund, may be allocated for Class Counsel’s attorney’s fees, subject to Section IV.H of this Agreement and approval by the AJ; 2. Class Counsel’s actual costs; 3. Service Awards to Class Agents, as approved by the AJ; 4. Actual costs of the Claims Administrator for processing Claim Forms for monetary relief; and 5. Actual costs of the Claims Allocator for developing and applying criteria by which individual class members will obtain monetary relief; but 6. Subtracting the amounts allocated in Sections IV(C)(1)-(5), the remainder of the Settlement Fund will be allocated to individual awards for Class Members.
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Settlement Fund Allocation. Each Class Member shall be allocated a proportionate share of the Net Settlement Fund. The individual allocations from the Net Settlement Fund for each Class Member will be calculated pursuant to the principles set forth below.
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Settlement Fund Allocation. No Settlement Class Member will be required to submit a claim form to receive a share of the Settlement Fund. The Parties agree to allocate the Settlement Fund as follows:
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Settlement Fund Allocation. The Parties estimate that the Settlement Fund will be allocated as follows, and the Defendant will not in any way contest such allocation and awards by the Court: a. $5,000 ($2,500 each) to the Class Representatives as an incentive payment in consideration of their services as Class Representatives. b. $21,667 for Attorneys’ Expenses. c. $283,333 for Attorneys’ Fees. d. $45,000 for Administrative Expenses. e. $500,000 Residuary for payments of Approved Claims.
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Settlement Fund Allocation. No Settlement Class Member will be required to submit a claim form to receive a share of the Settlement Fund. Settlement Class Members who are FLSA Plaintiffs and who operate multiple territories shall collect monies allocated to alleged overtime on only one territory, which will be the territory that has the highest total alleged overtime damages during the recovery period as determined by Class Counsel. The Parties agree to allocate the Settlement Fund as follows:
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Settlement Fund Allocation. 10.1. No Settlement Class Member will be required to submit a claim form to receive a share of the Settlement Fund. 10.2. The Parties agree to allocate the Settlement Fund to Class Members pursuant to the Final Plan of Allocation, as follows: Each non-exempt employees who was employed for at least one of the three affected pay periods will receive $25.00 (2,206 employees @ $25 = $55,150.00) and each Employee who worked overtime and had an overtime payment delayed will also receive 50% of the overtime amount delayed paid as liquidated damages (collectively totaling $99,611.92). 10.3. The payment to each Settlement Class Member shall be set forth in the Final Plan of Allocation prepared by Class Counsel and submitted to the Court for approval at the Final Fairness Hearing. 10.4. Checks will be negotiable for 180 days. Ninety (90) days after the checks are sent by the Settlement Administrator, the Settlement Administrator will review the Settlement Fund account for uncashed checks and attempt to contact Settlement Class Members who have not cashed their checks to remind them of the negotiable period. If the Settlement Class Member requests a new check, the Settlement Administrator will void the original check and reissue a check negotiable for forty-five (45) days. Checks that are not cashed within the negotiable period will not result in unclaimed property under state-law. Any unclaimed funds shall be paid to HCF as a reverter. 10.5. The Named Plaintiff may petition the Court for approval of Service Awards in the amount of $2,500.00 in recognition of their time and efforts in serving the Settlement Class by helping Class Counsel formulate claims and assisting in the Actions and settlement process. Defendant will not object to the Named Plaintiff’s petition for Service Award. This Service Award is separate from and in addition to the shares of the Settlement Fund that the Named Plaintiff may be eligible to receive as a Settlement Class Member, although the payment will be made from the Settlement Fund. Final approval of the Agreement is not contingent upon the Court granting the requested Attorneys’ Fees and Costs and Service Award in full. 10.6. Defendant and Defense Counsel will cooperate with Class Counsel to provide information from Defendant’s records for purposes of locating Class Members and preparing the Final Plan of Allocation.
Sample 1
Settlement Fund Allocation. The identification of Class Members to receive monetary relief and distribution of such monetary relief is the exclusive responsibility of Class Counsel, Claims Administrator, and Claims Allocator, acting on behalf of the Class. The 1. Up to $4,950,000, representing thirty-three percent (33%) of the Settlement Fund, may be allocated for Class Counsel’s attorney’s fees, subject to Section IV.H of this Agreement and approval by the AJ; 2. Class Counsel’s actual costs; 3. Service Awards to Class Agents, as approved by the AJ; 4. Actual costs of the Claims Administrator for processing Claim Forms for monetary relief; and 5. Actual costs of the Claims Allocator for developing and applying criteria by which individual class members will obtain monetary relief; but 6. Subtracting the amounts allocated in Sections IV(C)(1)-(5), the remainder of the Settlement Fund will be allocated to individual awards for Class Members.
Sample 1
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Related to Settlement Fund Allocation

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Tax Allocation The Purchase Price shall be allocated in accordance with Section 1060 of the Code among the Timberlands, minerals, Timberlands Contracts, and the Personal Property using the methodology mutually approved by Seller and Purchaser in the manner set forth in this Section 37, provided that such allocation methodology shall incorporate, reflect and be consistent with (a) the allocation set forth in Section 2.1, (b) the Value Table (other than the per acre values set forth therein) and (c) Exhibit 48 (the “Allocation Framework”). No later than sixty (60) days after the Closing Date, Seller shall deliver to Purchaser an allocation of the Purchase Price among the Timberlands, minerals, Timberlands Contracts, and Personal Property, which allocation shall be reasonable, based on fair market values, consistent with the Code, shall incorporate, reflect and be consistent with the Allocation Framework and to the extent relating to the portion of the Purchase Price paid for the Timberlands, set forth an allocation between the Installment Sale Timberlands and the Non-Installment Sale Timberlands (the “Proposed Allocation”). No later than one hundred twenty (120) days after the Closing Date, Seller and Purchaser shall endeavor to agree on the Proposed Allocation. In the event that Seller and Purchaser have not so agreed by such date Purchaser and Seller shall negotiate in good faith to resolve the dispute. If Purchaser and Seller fail to agree on such allocation before the date that is one hundred fifty (150) days following the Closing Date, such allocation shall be determined, within a reasonable time and in a manner that incorporates, reflects and is consistent with the Allocation Framework, by an independent, nationally recognized firm of accountants mutually selected by the Parties. The allocation of the total consideration, as agreed upon by Purchaser and Seller or determined by a firm of accountants under this Section 37, (the “Final Allocation”) shall be final and binding upon the Parties. Each of Purchaser and Seller shall bear all fees and costs incurred by it in connection with the determination of the allocation of the total consideration, except that the Parties shall each pay fifty percent (50%) of the fees and expenses of such accounting firm. Except to the extent otherwise required by applicable law, (a) Seller and Purchaser agree to prepare and file an IRS Form 8594 for or such other form or statement as may be required by applicable law, rule or regulation, and any comparable state or local income Tax form, in a manner consistent with the Final Allocation, (b) Seller and Purchaser shall adhere to the Final Allocation for all Tax-related purposes including any federal, foreign, state, county or local income and franchise Tax Return filed by them after the Closing Date, including the determination by Seller of Taxable gain or loss on the sale and the determination by Purchaser of its Tax basis with respect to same, and (c) neither Purchaser nor Seller shall file any Tax Return or, in a judicial or administrative proceeding, assert or maintain any Tax reporting position that is inconsistent with this Agreement or the Final Allocation agreed to in accordance with this Agreement.

  • Payment Allocation Subject to applicable law, your payments may be applied to what you owe the Credit Union in any manner the Credit Union chooses. However, in every case, in the event you make a payment in excess of the required minimum periodic payment, the Credit Union will allocate the excess amount first to the balance with the highest annual percentage rate and any remaining portion to the other balances in descending order based on applicable annual percentage rate.

  • Settlement Funds The Servicer shall be named as a payee on all insurance loss drafts and upon receipt thereof, the funds shall be credited to the Borrower's Insurance Proceeds balance and deposited into (a) where such funds will be applied to the repair and restoration of the related Mortgaged Property and where required by applicable state law, one or more separate escrow accounts, so that the balance on deposit in such accounts is fully insured at all times by the FDIC through either the BIF or SAIF or (b) where such funds will not be applied to the repair and restoration of the related Mortgaged Property, the respective Custodial P&I Account.

  • Collection Allocation Mechanism On the CAM Exchange Date, (a) the Commitments shall automatically and without further act be terminated as provided in Article VII, (b) each Lender shall become obligated to fund, within one Business Day, all participations in outstanding Swingline Loans held by it (it being agreed that the CAM Exchange shall not result in a reallocation of such funding obligations, but only of the funded participations resulting therefrom) and (c) the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that, in lieu of the interests of each Lender in the particular Designated Obligations that it shall own as of such date and immediately prior to the CAM Exchange, such Lender shall own an interest equal to such Lender’s CAM Percentage in each Designated Obligation. Each Lender, each person acquiring a participation from any Lender as contemplated by Section 11.04 and each Borrower hereby consents and agrees to the CAM Exchange. Each Borrower and each Lender agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests and obligations of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received by it hereunder to the Administrative Agent against delivery of any promissory notes so executed and delivered; provided that the failure of any Borrower to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange. As a result of the CAM Exchange, on and after the CAM Exchange Date, each payment received by the Administrative Agent pursuant to any Loan Document in respect of the Designated Obligations shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages (to be redetermined as of each such date of payment or distribution to the extent required by the next paragraph), but giving effect to assignments after the CAM Exchange Date, it being understood that nothing herein shall be construed to prohibit the assignment of a proportionate part of all an assigning Lender’s rights and obligations in respect of a single Class of Commitments or Loans. In the event that, after the CAM Exchange, the aggregate amount of the Designated Obligations shall change as a result of the making of an LC Disbursement of either Tranche by an Issuing Bank that is not reimbursed by the applicable Borrower, then (a) each Lender of such Tranche shall, in accordance with Section 2.05(d), promptly purchase from the applicable Issuing Bank a participation in such LC Disbursement in the amount of such Lender’s Tranche One Percentage or Tranche Two Percentage, as the case may be, of such LC Disbursement (without giving effect to the CAM Exchange), (b) the Administrative Agent shall redetermine the CAM Percentages after giving effect to such LC Disbursement and the purchase of participations therein by the applicable Lenders, and the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that each Lender shall own an interest equal to such Lender’s CAM Percentage in each of the Designated Obligations and (c) in the event distributions shall have been made in accordance with the preceding paragraph, the Lenders shall make such payments to one another as shall be necessary in order that the amounts received by them shall be equal to the amounts they would have received had each LC Disbursement been outstanding immediately prior to the CAM Exchange. Each such redetermination shall be binding on each of the Lenders and their successors and assigns and shall be conclusive absent manifest error.

  • Tax Allocations Each item of income, gain, loss or deduction recognized by the Company shall be allocated among the Members for U.S. federal, state and local income tax purposes in the same manner that each such item is allocated to the Member’s Capital Accounts pursuant to Section 3.2(d) or as otherwise provided herein, provided that the Board may adjust such allocations as long as such adjusted allocations have substantial economic effect or are in accordance with the interests of the Members in the Company, in each case within the meaning of the Code and the Treasury Regulations. Tax credits and tax credit recapture shall be allocated in accordance with the Members’ interests in the Company as provided in Treasury Regulations section 1.704-1(b)(4)(ii). Items of Company taxable income, gain, loss and deduction with respect to any property (other than cash) contributed to the capital of the Company or revalued shall, solely for tax purposes, be allocated among the Members, as determined by the Board in accordance with Section 704(c) of the Code, so as to take account of any variation between the adjusted basis of such property to the Company for U.S. federal income tax purposes and its fair market value at the time of contribution or revaluation, as the case may be. All of the Members agree that the Board is authorized to select the method or convention, or to treat an item as an extraordinary item, in relation to any variation of any Member’s interest in the Company described in section 1.706-4 of the Treasury Regulations in determining the Members’ distributive shares of Company items. All matters concerning allocations for U.S. federal, state and local and non-U.S. income tax purposes, including accounting procedures, not expressly provided for by the terms of this Agreement shall be determined by the Board in its sole discretion. Each Class B Ordinary Share is intended to be treated as a profits interest for U.S. federal income tax purposes, and all of the Members agree to report consistently with, and to take any action requested by the Board to ensure, such treatment.

  • Allocation Following the Closing, Purchaser shall prepare and deliver to Sellers an allocation of the aggregate consideration among Sellers and, for any transactions contemplated by this Agreement that do not constitute an Agreed G Transaction pursuant to Section 6.16, Purchaser shall also prepare and deliver to the applicable Seller a proposed allocation of the Purchase Price and other consideration paid in exchange for the Purchased Assets, prepared in accordance with Section 1060, and if applicable, Section 338, of the Tax Code (the “Allocation”). The applicable Seller shall have thirty (30) days after the delivery of the Allocation to review and consent to the Allocation in writing, which consent shall not be unreasonably withheld, conditioned or delayed. If the applicable Seller consents to the Allocation, such Seller and Purchaser shall use such Allocation to prepare and file in a timely manner all appropriate Tax filings, including the preparation and filing of all applicable forms in accordance with applicable Law, including Forms 8594 and 8023, if applicable, with their respective Tax Returns for the taxable year that includes the Closing Date and shall take no position in any Tax Return that is inconsistent with such Allocation; provided, however, that nothing contained herein shall prevent the applicable Seller and Purchaser from settling any proposed deficiency or adjustment by any Governmental Authority based upon or arising out of such Allocation, and neither the applicable Seller nor Purchaser shall be required to litigate before any court, any proposed deficiency or adjustment by any Taxing Authority challenging such Allocation. If the applicable Seller does not consent to such Allocation, the applicable Seller shall notify Purchaser in writing of such disagreement within such thirty (30) day period, and thereafter, the applicable Seller shall attempt in good faith to promptly resolve any such disagreement. If the Parties cannot resolve a disagreement under this Section 3.3, such disagreement shall be resolved by an independent accounting firm chosen by Purchaser and reasonably acceptable to the applicable Seller, and such resolution shall be final and binding on the Parties. The fees and expenses of such accounting firm shall be borne equally by Purchaser, on the one hand, and the applicable Seller, on the other hand. The applicable Seller shall provide Purchaser, and Purchaser shall provide the applicable Seller, with a copy of any information described above required to be furnished to any Taxing Authority in connection with the transactions contemplated herein.

  • Risk Allocation The Product is Regulatorily Continuing.

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