SETTLEMENT FUND / MONETARY PAYMENT / BENEFITS DETAILS. 3.1 ReproSource agrees to make or cause to be made a payment of One Million, Two Hundred Fifty Thousand Dollars and No Cents ($1,250,000.00), to create the Settlement Fund as follows: within 30 days after the Effective Date and receipt from the Settlement Administrator of detailed wire instructions and a completed W-9 form, ReproSource agrees to and shall cause the sum of One Million, Two Hundred Fifty Thousand Dollars and No Cents ($1,250,000.00) to be deposited in an interest-bearing bank escrow account established and administered by the Settlement Administrator (the “Escrow Account”), less any amounts paid by ReproSource for Administrative Expenses prior to the Effective Date. The Escrow Account shall be held in a Qualified Settlement Fund (defined below) in interest- bearing bank account deposits with commercial banks with excess capital exceeding One Billion United States Dollars and Zero Cents ($1,000,000,000.00), with a rating of “A” or higher by S&P and in an account that is fully insured by the United States Government or the FDIC. The Settlement Fund will be used to pay approved claims, Administrative Expenses (to be agreed upon by both parties), the Fee Award and Costs, and Service Awards. For the avoidance of doubt, ReproSource’s total liability under this Settlement Agreement shall not exceed One Million, Two Hundred Fifty Thousand Dollars and No Cents ($1,250,000.00).
(a) All interest on the funds in the Escrow Account shall accrue to the benefit of the Settlement Class. Any interest shall not be subject to withholding and shall, if required, be reported appropriately to the Internal Revenue Service by the Settlement Administrator. The Administrator is responsible for the payment of all Taxes.
(b) The funds in the Escrow Account shall be deemed a “qualified settlement fund” within the meaning of Treasury Regulation § 1.468B-1 at all times after the creation of the Escrow Account. All Taxes shall be paid out of the Escrow Account. Defendant, Defendant’s Counsel, Plaintiffs, and Class Counsel shall have no liability or responsibility for any of the Taxes. The Escrow Account shall indemnify and hold Defendant, Defendant’s Counsel, Plaintiffs, and Class Counsel harmless for all Taxes (including, without limitation, Taxes payable by reason of any such indemnification). For the purpose of the Internal Revenue Code and the Treasury regulations thereunder, the Settlement Administrator shall be designated as the “administrator” of the Settlement Fund...
SETTLEMENT FUND / MONETARY PAYMENT / BENEFITS DETAILS. 3.1 Xxxxxxxx agrees to make or cause to be made the Settlement Payment to create the Settlement Fund as follows: within thirty (30) days after the latest of (a) entry of the Preliminary Approval Order, which shall include an order establishing the Settlement Fund pursuant to pursuant to Treasury Regulation § 1.468B-1(c)(1), or
SETTLEMENT FUND / MONETARY PAYMENT / BENEFITS DETAILS. 3.1 Forefront agrees to make or cause to be made a payment of Three Million Seven Hundred Fifty Thousand Dollars and No Cents ($3,750,000), to create the Settlement Fund as follows: within 30 days after the later of (a) entry of the Preliminary Approval Order, which shall include an order establishing the Settlement Fund pursuant to pursuant to Treasury Regulation § 1.468B-1(c)(1), or
SETTLEMENT FUND / MONETARY PAYMENT / BENEFITS DETAILS. 3.1 GVC agrees to make or cause to be made a payment of Two Million Dollars and No Cents ($2,000,000.00). GVC agrees to create the Settlement Fund within ten
