The Gross Cash Settlement Amount Sample Clauses

The Gross Cash Settlement Amount. The Gross Cash Settlement Amount is three million six hundred fifty thousand dollars ($3,650,000). Under no circumstances shall Defendants be responsible for making payments in excess of the Gross Cash Settlement Amount. Defendants shall fulfill their payment obligations under this Agreement pursuant to the following timeline, which is based in part on the payment of the Xxxxx settlement, as described below: On or before January 31, 2020, Defendants shall move the current funding set aside for the Xxxxx and Xxxxxx settlements of not less than $1,200,000.00 into the Fortis Attorney Client Trust Account (hereinafter, “Trust Account”), and shall deposit an additional $150,000 towards the Xxxxx and Xxxxxx settlements on a monthly basis into this same Trust Account beginning January 31, 2020. The timeline for distribution of funds shall be as follows:
Sample 1Sample 2
AutoNDA by SimpleDocs
The Gross Cash Settlement Amount. The Gross Cash Settlement Amount is Two Million One Hundred and Seventy-Five Thousand U.S. Dollars ($2,175,000). Other than the employer’s share of payroll taxes as set forth in Section 6.1, under no circumstances shall Defendants be responsible for making payments in excess of the Gross Cash Settlement Amount. The entirety of the Gross Cash Settlement Amount is non-reversionary.
Sample 1

Related to The Gross Cash Settlement Amount

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $2,500,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 6.1 of this Agreement._bookmark4 The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Funding of Gross Settlement Amount Defendant shall fully fund the Gross Settlement Amount, and also fund the amounts necessary to fully pay Defendant’s share of payroll taxes by transmitting the funds to the Administrator no later than 14 days after the Effective Date.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

Time is Money Join Law Insider Premium to draft better contracts faster.