Settlement Proceeds. The Parties agree that the Settlement Proceeds and other consideration provided by Anadarko herein will resolve the Adversary Proceeding on the terms stated herein, with approximately 88% of the net proceeds distributed pursuant to the Distribution Scheme as and to the extent set forth in the Litigation Trust Agreement, Environmental Settlement Agreement and the Environmental and Tort Trust Agreements for the benefit of trusts created to conduct Environmental Actions at one or more Covered Sites and to federal, state, or tribal governments in satisfaction of claims for costs previously expended, or to be expended, at Covered Sites or for Environmental Actions expected to be performed at Covered Sites, and approximately 12% of the net proceeds distributed to the Tort Trust on account of Bankruptcy Tort Claims.
Settlement Proceeds. A. The payment of Settlement Proceeds (defined below) pursuant to this Agreement is the sole responsibility of Xxxxxxx. The Participating Plaintiffs and the Non-Responsive Plaintiffs shall look solely to Xxxxxxx for any payment obligations under this Agreement.
B. In consideration and in exchange for the terms and conditions set forth herein, Xxxxxxx agrees to pay $43,000,000 (the “Settlement Proceeds”) as set forth below:
1. Plaintiffs’ Coordinating Counsel, or a person designated in writing by it, shall, as a precondition to payment of the Settlement Proceeds, have established a Qualified Settlement Fund pursuant to Treasury Regulation 1.468B-1 (also see Section XI(K)) and other applicable law (the “Settlement Fund”) to manage and distribute the Settlement Proceeds in accordance with this Agreement. Plaintiffs’ Coordinating Counsel, or the person designated by it, shall have sole access to, and control of, the Settlement Fund.
2. Failure by The Xxxxxx Firm to deliver fully executed Releases and Dropping Notices, Dismissal Notices or Joint Motions of Dismissal as set forth in Section III shall be a material breach of this Agreement. If The Xxxxxx Firm does not deliver each and every one of the Releases and Dropping Notices, Dismissal Notices or Joint Motions of Dismissal pursuant to Section III, then, unless Settling Defendants waive the breach, Settling Defendants, in their sole discretion, have the right to terminate and cancel this Agreement in its entirety and Settling Defendants shall have no obligation to pay any Settlement Proceeds, to fund the Settlement Fund, to make any further payment or payments, or to perform any other term or condition of this Agreement, and the Agreement shall be null and void in all respects and Xxxxxxx shall be entitled to recover from the Settlement Fund any Settlement Proceeds that it has already paid. If Settling Defendants have not terminated this Agreement, then Xxxxxxx shall tender the Settlement Proceeds to the Settlement Fund as follows:
x. Xxxxxxx shall make fifteen (15) annual payments to the Settlement Fund for the benefit of the Participating Plaintiffs and the Non-
i. Not more than ninety (90) days after the Effective Date, Xxxxxxx shall make the first Annual Payment in the amount of $2,867,000 to the Settlement Fund.
ii. For each of the second through seventh years after the Effective Date, Xxxxxxx shall, no later than the anniversary of the first Annual Payment, make an Annual Payment of $2,867,000 to the S...
Settlement Proceeds. CardConnect has agreed to pay up to Seven Million, Six Hundred and Fifty Thousand U.S. Dollars and Zero Cents ($7,650,000.00) to settle the Action (“Settlement Proceeds”). From the Settlement Proceeds, the following amounts will be paid: (a) payment of the Court-authorized Attorneys’ Fees and Costs awarded to Class Counsel; (b) payment of the Court-authorized Incentive Awards awarded to the Class Representatives; and (c) payment of the Administration Costs of the Settlement, including the cost of providing notice.
Settlement Proceeds. Any recovery or settlement received in connection with any suit initiated by Licensee under Section 6.5.2 above shall first be used to reimburse each Party’s litigation costs. Any recovery in excess of litigation costs of Licensee and Licensor shall be shared between Licensee and Licensor as follows: for any suit initiated by Licensee, [***]; and in any suit initiated by Licensor, at its expense, in which Licensee does not participate, [***].
Settlement Proceeds. In full and complete consideration for Xxxxx’x promises and undertakings set forth in this Agreement, and upon receipt by Xxxxxxx X. Xxxxxxx, Senior Vice President, General Counsel and Secretary to the Board of VeriSign, of Xxxxx’x fully and originally executed Settlement Agreement and General Release, Xxxxx’x originally executed resignation of employment, and Xxxxx’x originally executed resignation from the Boards of Directors, VeriSign will provide Xxxxx with severance benefits (“Severance Benefits”) as follows:
Settlement Proceeds the amount of money exchanged to resolve this case, as follows, none of which LAKE CHASE opposes:
a. any incentive fee award to the Plaintiff that the Court approves, up to $950.00;
b. any award of Class Counsel attorneys' fees up to $20,000.00;
c. Court-approved costs of the settlement administration process up to $2,500.00; and
d. reimbursement of up to $55.00 per tow for each Settlement Class Member, up to a maximum total of $6,215.00. The maximum sum of the Settlement Proceeds is $29,665.00, and shall be allocated as referenced above. Payment of the above amounts shall be the sole, total and only payment obligation that LAKE CHASE has in settlement of this Action.
Settlement Proceeds. The Acquirer is responsible for payment of the Settlement Proceeds to you in accordance with your Merchant Account Agreement.
Settlement Proceeds. 1. WRSKK hereby recognizes that it has a duty to pay to Kobe as Settlement Proceeds the sum of Three Hundred Million Japanese Yen (JPY300,000,000). Said Settlement Proceeds shall be paid by wire transfer to an account designated by Kobe by 30 March 2001.
2. WRSKK hereby agrees that it or its designee shall make payment to Kobe as provided in the preceding clause. Moreover, WRSKK agrees that it will bear the cost of the telegraphic transfer handling charges.
Settlement Proceeds. Subject to the terms of Paragraph 11 of this Agreement, within ten (10) days following (i) the complete and proper execution of duplicate originals of this Agreement by the Employee and his counsel, and (ii) the actual delivery through the Employee’s counsel of said duplicate originals (including Exhibit A) to counsel for the Company, the Company through its counsel agrees to issue and hand deliver to the Employee’s attorney one check made payable to “Axxx Xxxxxxxxxxx” for the total, agreed-upon, aggregate lump sum of ONE HUNDRED AND SEVENTY FIVE THOUSAND DOLLARS & NO/100 ($175,000.00), minus tax and other withholding as allowed by law, as payment in full compromise and settlement of all Claims and Controversies, and for the other terms of this Agreement (the “Settlement Proceeds”). The Employee’s counsel shall hold the Settlement Proceeds in trust and shall not disburse the Settlement Proceeds until the Company’s counsel has delivered to the Employee’s counsel a fully counter-executed duplicate original of this Agreement, which counsel for the Company shall accomplish within seven (7) days after receipt of said duplicate originals from the Employee’s counsel. The Employee shall be solely responsible for the payment of any and all applicable taxes, penalties, and interest due on the Settlement Proceeds.
Settlement Proceeds. Subject to the Settlement taking effect and the Effective Date occurring, Defendants shall pay a total of $493,227.84 (the “Settlement Fund”) with reversion to Defendants as set out below. The Settlement Fund shall be “all inclusive,” meaning that it shall be used to satisfy all of the following: (1) the settlement awards to be paid to Eligible Class Members, (2) all employer and employee payroll taxes and withholdings associated with the Settlement Awards, (3) the incentive award to be paid to the Plaintiff, (4) the award of attorneys’ fees to Class Counsel, (5) the expenses and costs of litigation to be paid to Class Counsel, and (6) an award of settlement administration expenses to be paid to the Settlement Administrator, all as approved by the Superior Court. Notwithstanding any other provision of this Agreement, in no event shall Defendants be obligated to pay more than $493,227.84 in settlement of this case, other than for their attorneys’ fees. The Settlement Fund shall be allocated as follows:
1. An incentive award to Plaintiff of $5,000, subject to Court approval, for his service as the Settlement Class Representative. If the Court awards anything less than $5,000 in relation to the incentive award request, then the difference between $5,000 and the amount received by Plaintiff shall be treated as part of the Class Fund as defined below.
