Settlement Proceeds Sample Clauses
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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 ▇▇▇▇▇▇▇. Participating Plaintiffs, Plaintiffs’ Coordinating Counsel and Participating Plaintiffs’ Counsel shall look solely to ▇▇▇▇▇▇▇ for any payment obligations under this Agreement, including, but not limited to, the Settlement Proceeds, and the payment to Plaintiffs’ Coordinating Counsel in Section V of this Agreement.
B. In consideration and in exchange for the terms and conditions set forth herein, ▇▇▇▇▇▇▇ agrees to pay the sums set forth in Section IV(B)(2)(a) and (b) (the “Settlement Proceeds”), on the following terms and conditions, and as adjusted 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, establish 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 Participating Plaintiffs’ Counsel and/or Plaintiffs’ Coordinating Counsel to deliver or file fully executed Releases and Dropping or Dismissal Notices as set forth in Section III shall be a material breach of this Agreement. If Participating Plaintiffs’ Counsel do not deliver and file each and every one of the Releases and Dropping or Dismissal Notices 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 the Section V payment, 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. If this Agreement has not been terminated as set forth above, then ▇▇▇▇▇▇▇ shall tender the Settlement Proceeds to the Settlement Fund as follows:
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. 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. The Woodside Settlement Sum, the JPMorgan Settlement Sum, and the Pioneer Settlement Sum will together be referred to as the “Settlement Proceeds.”
Settlement Proceeds. Sodexo shall pay a total of $315,000 (the “Settlement Fund”) with no right to reversion. The Settlement Fund shall be allocated as follows:
Settlement Proceeds. Navigators shall pay $420,000 in full and complete satisfaction of all obligations under this Settlement. The Settlement Proceeds shall be non‐ reversionary; no funds shall revert to Defendant or Navigators.
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 “A▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇” 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 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. ABCX agrees to pay, and Broady hereby accepts payment of, an aggregate net amount of $185,00▇.▇▇ (the "SETTLEMENT PROCEEDS") to Broady in full settlement of all claims, potential claims, demands, ▇▇▇▇▇▇ial litigation and disputes between the parties that arise out of, relate to or in any way concern Broady's employment relationship with ABCX or services he provided f▇▇ ▇▇▇▇ or the Severance Agreement. The Settlement Proceeds to be paid to Broady are net of applicable required withholding taxes. ABCX shall ▇▇▇▇▇▇r to Broady appropriate documentation itemizing the gross amounts of the ▇▇▇▇▇▇ment Payments.