Common use of Supplemental Payment Amounts Clause in Contracts

Supplemental Payment Amounts. 2 Supplemental Payment Amounts will be calculated on a pro rata basis and will depend 3 on Settlement Class Member participation rate in the Settlement. Upon the close of the claims 4 period, the sum of all unclaimed Base Payment Amounts will be considered the Supplemental 5 Payment Fund. The Supplemental Payment Fund will be apportioned pro rata to each Settlement 6 Class Member who submitted a valid claim, based on the participating Settlement Class 7 Member’s Base Payment Amount. For example, if valid claims total $19 million in Base 8 Payment Amounts (i.e., 50% of the Gross Settlement Fund), then the Supplemental Payment 9 amount of a Settlement Class Member whose Base Payment Amount was $8,273.12 would 10 likewise be $8,273.12 (for a Gross Payment Amount of $16,546.24). Gross Payment Amounts 11 are subject to the deductions described in Section (3). 12 Regardless of Settlement Class Member participation rates, the sum of Base Payment 13 Amounts and Supplemental Payments Amounts will equal the Settlement Fund ($38 million.)

Appears in 2 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement

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Supplemental Payment Amounts. 2 Supplemental Payment Amounts will be calculated on a pro rata basis and will depend 3 on Settlement Class Member participation rate in the Settlement. Upon the close of the claims 4 period, the sum of all unclaimed Base Payment Amounts will be considered the Supplemental 5 Payment Fund. The Supplemental Payment Fund will be apportioned pro rata to each Settlement 6 Class Member who submitted a valid claim, based on the participating Settlement Class 7 Member’s 's Base Payment Amount. For example, if valid claims total $19 million in Base 8 Payment Amounts (i.e., 50% of the Gross Settlement Fund), then the Supplemental Payment 9 amount of a Settlement Class Member whose Base Payment Amount was $8,273.12 would 10 likewise be $8,273.12 (for a Gross Payment Amount of $16,546.24). Gross Payment Amounts 11 are subject to the deductions described in Section (3). 12 Regardless of Settlement Class Member participation rates, the sum of Base Payment 13 Amounts and Supplemental Payments Amounts will equal the Settlement Fund ($38 million.)

Appears in 2 contracts

Samples: Class Action Settlement Agreement, Class Action Settlement Agreement

Supplemental Payment Amounts. 2 Supplemental Payment Amounts will be calculated on a pro rata basis and will depend 3 on Settlement Class Member participation rate in the Settlement. Upon the close of the claims 4 period, the sum of all unclaimed Base Payment Amounts will be considered the Supplemental 5 Payment Fund. The Supplemental Payment Fund will be apportioned pro rata to each Settlement 6 Class Member who submitted a valid claim, based on the participating Settlement Class 7 Member’s Base Payment Amount. For example, if valid claims total $19 12.25 million in Base 8 Payment Amounts (i.e., 50% of the Gross Settlement Fund), then the Supplemental Payment 9 amount of a Settlement Class Member whose Base Payment Amount was $8,273.12 would 10 likewise be $8,273.12 (for a Gross Payment Amount of $16,546.24). Gross Payment Amounts 11 are subject to the deductions described in Section (3). 12 Regardless of Settlement Class Member participation rates, the sum of Base Payment 13 Amounts and Supplemental Payments Amounts will equal the Settlement Fund ($38 24.5 million.)

Appears in 1 contract

Samples: Class Action Settlement Agreement

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Supplemental Payment Amounts. 2 Supplemental Payment Amounts will be calculated on a pro rata basis and will depend 3 on Settlement Class Member participation rate in the Settlement. Upon the close of the claims 4 period, the sum of all unclaimed Base Payment Amounts will be considered the Supplemental 5 Payment Fund. The Supplemental Payment Fund will be apportioned pro rata to each Settlement 6 Class Member who submitted a valid claim, based bas ed on the participating Settlement Class 7 Member’s Base Payment Amount. For example, if valid claims total $19 1.75 million in Base 8 Payment Amounts (i.e., 50% of the Gross Settlement Fund), then the Supplemental Payment 9 amount Amount of a Settlement Class Member whose Base Payment Amount was $8,273.12 would 10 likewise be $8,273.12 (for a Gross Payment Amount of $16,546.24). Alternately, and again if valid claims total $1.75 million in Base Payment Amounts (i.e., 50% of the Gross Settlement Fund), then the Supplemental Payment Amount of a Settlement Class Member whose Base Payment Amount was $5,583.87 would likewise be $5,583.87 (for a Gross Payment Amount of $11,167.74). Gross Payment Amounts 11 are subject to the deductions described in Section (3). 12 Regardless of Settlement Class Member participation rates, the sum of Base Payment 13 Amounts and Supplemental Payments Payment Amounts will equal the Settlement Fund ($38 3.5 million).)

Appears in 1 contract

Samples: Class Action Settlement Agreement

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