Settlement Monetary Consideration. Settlement Consideration under this Agreement includes the following:
3.3.1 Within thirty (30) days after the Court’s entry of the Preliminary Approval Order, TDAF will fund the Settlement Fund by depositing the sum of Two Million, Two Hundred Thousand Dollars ($2,200,000) into an escrow account with the Settlement Administrator, the terms of which shall be subject to TDAF’s approval.
3.3.2 The Settlement Administrator’s costs associated with disseminating the Mail Notice, Class Notice, the Settlement Website, distributing checks to Settlement Class Members, and any escrow, administrative and/or bank related fees and costs associated with the Settlement Administrator’s distribution of payments as well as the Incentive Payment to the Class Representative, Attorney’s Fees and Expenses awarded by the Court shall be paid out of the Settlement Fund.
3.3.3 After deducting the Court-approved Incentive Payment to the Class Representative, as set forth in section 5.2, any administrative costs, and the Attorney’s Fees and Expenses from the Settlement Fund, Settlement Class Members shall be paid from the Settlement Fund in an amount equal to the pro rata share of the Settlement Fund, which is to be calculated per account included in the Settlement Class according to a Prorated Percentage. The Prorated Percentage for each Account is equal to a numerator consisting of 10% of the “Amount Financed” on the RISC plus the “Finance Charge” on the RISC and a denominator consisting of 10% of the aggregate “Amount Financed” plus the aggregate “Finance Charge” for the Class. In the case of accounts that list more than one person as a borrower or co-borrower, the pro rata share payable on that account will be divided equally among borrowers or co-borrowers with separate checks issued to each.
3.3.4 Under no circumstances shall TDAF’s total payment obligation under the Settlement Agreement exceed $2,200,000.
Settlement Monetary Consideration. 3.3.1 Within twenty-one (21) days after the Court’s entry of the Preliminary Approval Order, Xxxxx Fargo will initially fund the Settlement Fund by depositing into an escrow account, the terms of which shall be subject to Xxxxx Fargo’s approval, with the Settlement Administrator the sum of Four Hundred Fifty Thousand Dollars ($450,000.00) to cover initial costs and expenses for implementing the terms of the Settlement set forth herein. Any balance of this initial funding remaining following the implementation of the terms of the Settlement and payment of the Settlement Administrator shall revert to Xxxxx Fargo.
3.3.2 Within eighty (80) days of the Effective Date, Xxxxx Fargo will fund the California Settlement Fund by depositing into the escrow account the remaining Settlement Fund balance, to be calculated as follows: For California Class Members who submit one or more Verified Claims and become a Verified Claimant, Xxxxx Fargo shall contribute to the Settlement Fund as follows: • First 2,000 Verified Claims from the California Class shall add $2,500 per claim to the fund up to $5,000,000. • Next 3,000 Verified Claims from the California Class shall add $2,000 per claim to the fund up to $6,000,000. • Next 2,000 Verified Claims from the California Class shall add $800 per claim to the fund up to $1,600,000.
3.3.3 Members of the California Class who submit one or more Verified Claims shall be paid pro rata from the California Settlement Fund for each Verified Claim.
3.3.4 The California Settlement Fund shall have a total floor of $4,700,000 and a total cap of $12,600,000. Under no circumstances shall Xxxxx Fargo’s total financial obligation to fund the California Settlement Fund exceed $12,600,000.
3.3.5 Within eighty (80) days of the Effective Date, Xxxxx Fargo will fund the National Settlement Fund by depositing into the escrow account the remaining Settlement Fund balance, to be calculated as follows: For those National Class Members who submit one or more Verified Claims and become a Verified Claimant, Xxxxx Fargo shall create a National Settlement Fund as follows: • Every Verified Claim from the National Class shall add $100 to the fund up to a maximum of $500,000.
3.3.6 National Class Members who submit one or more Verified Claims shall be paid pro rata from the National Settlement Fund for each Verified Claim.
3.3.7 The National Settlement Fund shall have a total floor of $50,000 and a total cap of $500,000. Under no circumstances shall Xxxxx Fargo’...
Settlement Monetary Consideration. 3.2.1 M&T shall pay the total amount of $3,325,000 in relief, which shall comprise the Settlement Fund.
3.2.2 The Settlement Administrator will distribute the Settlement Fund as set forth in Section 5.
3.2.3 All costs, expenses, fees, relief, and/or any payments of any kind in connection with or associated with this Settlement shall be paid from the Settlement Fund, including, but not limited to, all (a) payments to Settlement Class Members (b) Notice and Administrative Costs,
Settlement Monetary Consideration. 3.2.1 Rushmore shall pay the total amount of $1,645,840 in relief, which shall comprise the Settlement Fund.
3.2.2 The Settlement Administrator will distribute the Settlement Fund as set forth in Section 5.
3.2.3 All costs, expenses, fees, relief, and/or any payments of any kind in connection with or associated with this Settlement shall be paid from the Settlement Fund, including, but not limited to, all (a) payments to Settlement Class Members, (b) Notice and Administrative Costs, (c) any Service Award to Plaintiff, and (d) any award of Attorneys’ Fees and Expenses.
3.2.4 The Settlement Fund is the maximum amount that Rushmore will have to pay under this Settlement. No portion of the Settlement Fund shall revert to Rushmore at any time.
Settlement Monetary Consideration. 3.2.1 Within twenty (20) days after the Court’s entry of the Preliminary Approval Order, BANA will fund the Settlement Fund by depositing the sum of One Million Nine Hundred Seventy Five Thousand Dollars ($1,975,000) into an escrow account with the Settlement Administrator, the terms of which shall be subject to BANA’s approval.
3.2.2 The Settlement Administrator’s costs associated with disseminating the Class Notice, the Settlement Website, distributing checks to Settlement Class Members, and any escrow, administrative fees and costs associated with the Settlement Administrator’s distribution of payments after the Settlement Administrator provides the information set forth in section 6.4 shall be paid out of the Settlement Fund.
3.2.3 After deducting the Court-approved Service Payment to the Class Representative, Court-approved Attorneys’ Fees and Expenses, and administrative costs from the Settlement Fund, Settlement Class Members shall be paid from the Settlement Fund in an amount equal to the Settlement Class Member’s proportionate share of the Settlement Fund, relative to the total dollar amount of Transaction Fees paid by the Settlement Class Member. If an account lists more than one person as a customer, debtor, or guarantor, the check will be made payable to the person listed in BANA’s records as the primary account holder.
3.2.4 BANA represents that, to the best of its knowledge based on researching customer accounts, the total dollar amount of Transaction Fees paid by Settlement Class Members is approximately $5,129,630.12.
3.2.5 Under no circumstances shall XXXX’s total payment obligation under the Agreement exceed $1,975,000, which is inclusive of all payments to the Settlement Class, for costs of notice and administration, for Attorney’s Fees and Expenses; and for service payments to the Class Representatives, as approved by the Court.
3.2.6 Nothing in section 3.2 is an admission either about BANA’s current or past practices, or an admission that the terms are mandated by law or other requirement.
3.2.7 The relief set forth in this section shall not operate as an injunction or otherwise provide any Class Member or governmental official or agency, or any other person or entity with any right or power to seek direct enforcement of its terms.
Settlement Monetary Consideration. 3.3.1 Within fourteen (14) days after the Effective Date, Discover will fund the Settlement Fund by depositing into an escrow account with the Settlement Administrator, the terms of which shall be subject to Discover’s approval, the Settlement Fund amount of nine hundred seventy-nine thousand five hundred dollars ($979,500). Under no circumstances shall Discover’s total financial obligation to fund the Settlement Fund exceed nine hundred seventy-nine thousand five hundred dollars ($979,500).
3.3.2 The Settlement Fund shall be used to pay all distributions to Settlement Class Members, as described in Section 5 of this Agreement, and Service Awards to the Class Representatives as described in Section 15 of this Agreement.
Settlement Monetary Consideration. 3.3.1 Within thirty (30) days of the Effective Date, CBUSA will fund the Settlement Fund by depositing into an escrow account, the terms of which shall be subject to CBUSA’s approval, the sum of $11,500,000.00 (11.5 million U.S. dollars). There shall be no reverter of any part of the Settlement Fund, unless otherwise agreed to by Class Counsel with respect to de minimis funds, if any, remaining after distributions are completed. Except as set forth in the paragraph below, the Settlement Fund shall be used to pay the CBUSA Post- Discharge Payors and Participating Claimants.
3.3.2 CBUSA shall pay the Settlement Administrator’s costs associated with disseminating the Class Notice, Claims processing, and any escrow, administrative, and/or bank- related fees and costs associated with the Settlement Administrator’s distribution of payments to Participating Claimants.
Settlement Monetary Consideration. 4.2.1. AIC and Oh Agency (or Oh Agency’s insurers), will fund a non- reversionary common Settlement Fund of $10,500,000, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and any Incentive Award will be deducted in the manner and at the various times specified in this Agreement. The Settlement Fund represents the limit and total extent of Defendants’ monetary obligations under this Agreement and the Settlement. In no event shall Defendants’ total financial liability with respect to this Agreement and the Settlement exceed $10,500,000.
4.2.2. Defendants will fund the Settlement Fund as follows: (a) within thirty (30) Days following entry of the Preliminary Approval Order, Defendants will transfer $50,000.00 to the Settlement Administrator (via wire instructions provided by the Settlement Administrator to AIC and Oh Agency (or Oh Agency’s insurers), to an interest-bearing escrow account. The Settlement Administrator will use or pay those funds for any up-front Notice and Administrative Costs authorized by the Settlement Agreement and/or the Preliminary Approval Order. (b) Within ten(10) days after the Final Settlement Date, Defendants will transfer the remainder of the Settlement Fund to the Settlement Administrator (via wire instructions provided by the Settlement Administrator to AIC and Oh Agency (or Oh Agency’s insurers)), to the existing escrow account. The Settlement Administrator will use or pay those funds as authorized by the Settlement Agreement, the Preliminary Approval Order, the Final Approval Order, and/or the Judgment.
4.2.3. The Court shall retain continuing jurisdiction over the Settlement Fund sufficient to satisfy the requirements of 26 C.F.R. § 1.468B-1. The Settlement Administrator shall at all times seek to have the Settlement Fund treated as a “qualified settlement fund” as that term is defined in 26 C.F.R. § 1.468B-1. The Settlement Administrator shall cause any taxes imposed on the earnings of the Settlement Fund, if any, to be paid out of such earnings and shall comply with all tax reporting and withholding requirements imposed on the Settlement Fund under applicable tax laws. The Settlement Administrator shall be the “administrator” of the Settlement Fund pursuant to 26 C.F.R. § 1.468B-2(k)(3).
4.2.4. Each Class Member with Known Addresses and Claimants (upon certification that he, she, or it is or was the user or subscriber of the cell phone number) shall be entitled to receive Settlemen...
Settlement Monetary Consideration. 4.3.1. Defendant will fund a non-reversionary common Settlement Fund of $1,700,000, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and any Incentive Award will be deducted. The Settlement Fund represents the limit and total extent of Defendant’ monetary obligations under this Agreement and the Settlement. In no event shall Defendant’ total financial liability with respect to this Agreement and the Settlement exceed $1,700,000.
4.3.2. Defendant will fund the Settlement Fund as follows: (a) within five (5) Days following entry of the Preliminary Approval Order, Defendant will transfer any authorized up-front Notice and Administrative costs to the Settlement Administrator (via wire instructions provided by the Settlement Administrator to Defendant and/or their respective insurers). The Settlement Administrator will hold those amounts until such time as the Settlement Administrator is authorized to use or pay those funds; (b) within five (5) Days following entry of the Final Approval Order, Defendant will transfer the remainder of the Settlement Fund minus the up-front Notice and Administrative costs in subsection (a) above to the Settlement Administrator.
4.3.3. The Court shall retain continuing jurisdiction over the Settlement Fund sufficient to satisfy the requirements of 26 C.F.R. § 1.468B-1. The Settlement Administrator shall at all times seek to have the Settlement Fund treated as a “qualified settlement fund” as that term is defined in 26 C.F.R. § 1.468B-1. The Settlement Administrator shall cause any taxes imposed on the earnings of the Settlement Fund, if any, to be paid out of such earnings and shall comply with all tax reporting and withholding requirements imposed on the Settlement Fund under applicable tax laws. The Settlement Administrator shall be the “administrator” of the Settlement Fund pursuant to 26 C.F.R. § 1.468B-2(k)(3).
4.3.4. All payments issued to Class Members via check will state on the face of the check that the check will expire and become null and void unless cashed within one hundred and eighty (180) Days after the date of issuance.
4.3.5. No amount of the Settlement Fund shall revert in any way to Tribune. If, after payments to Class Members have been made and the deadline for cashing those checks has passed, funds remain in the Settlement Fund sufficient to make it administratively feasible to make a further payment to Class Members, then a further distribution shall be made to Cl...
Settlement Monetary Consideration. 4.5.1. Ocwen will fund a non-reversionary common Settlement Fund of $17,500,000, from which all Settlement Relief, Attorneys’ Fees and Costs, Notice and Administrative Costs, and Incentive Awards will be deducted. The Settlement Fund represents the limit and total extent of Ocwen’s monetary obligations under this Agreement and the
