Common use of Settlement Fund Payment Process Clause in Contracts

Settlement Fund Payment Process. 1. To determine each Annual Payment for Payment Year 2 forward, the Settlement Fund Administrator shall use the data as of April 30 of the Payment Year for each Annual Payment, unless another provision of the Agreement specifies a different date. Prior to the Effective Date, the Parties will include an exhibit to the Agreement setting forth in detail the process for the Settlement Fund Administrator obtaining relevant data and for distributing funds to Settling States and Participating Subdivisions listed on Exhibit G consistent with the terms of this Agreement as quickly as practical. 2. The Settlement Fund Administrator shall determine the Annual Payment and the Statewide Payment Amount for each Settling State, consistent with the provisions in Exhibit L, by: a. determining, for each Settling State, the amount of base payments and incentive payments to which the State is entitled by applying the criteria in this Section; b. applying any reductions or offsets required by Section IV and Section XII; and

Settlement Fund Payment Process. 1. To determine each Annual Payment for Payment Year 2 forward, the Settlement Fund Administrator shall use the data as of April 30 of the Payment Year for each Annual Payment, unless another provision of the Agreement specifies a different date. Prior to the Effective Date, the Parties will include an exhibit to the Agreement setting forth in detail the process for the Settlement Fund Administrator obtaining relevant data and for distributing funds to Settling States and Participating Subdivisions listed on Exhibit G consistent with the terms of this Agreement as quickly as practical. 2. The Settlement Fund Administrator shall determine the Annual Payment and the Statewide Payment Amount for each Settling State, consistent with the provisions in Exhibit L, by: a. determining, for each Settling State, the amount of base payments Base Payments and incentive payments Incentive Payments to which the State is entitled by applying the criteria in this Section; b. applying any reductions or offsets required by Section IV and Section XII; and