Common use of The Settlement Amount Clause in Contracts

The Settlement Amount. (a) In consideration of all the promises and agreements set forth in this Agreement, Defendant will cause the Settlement Amount to be paid. No other Released Party shall have any obligation to contribute financially to this Settlement. (b) Defendant shall cause the Settlement Amount to be deposited into the Escrow Account within thirty (30) calendar days after entry of the Preliminary Approval Order. The Settlement Amount together with any interest and investment earnings thereon, shall constitute the “Settlement Fund.” (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement Administrator. Neither Defendant nor Plaintiff shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Court. The Settlement Administrator shall not disburse the Settlement Fund or any portion thereof except as provided for in this Agreement, by an Order of the Court, or with prior written agreement of Class Counsel and Defendant’s Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Class Members that are consistent with the terms of this Agreement and with Orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent practicable, invest the Settlement Amount in discrete and identifiable instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. The Settlement Administrator and Settlement Class Members shall bear all risks related to investment of the Settlement Amount. (h) The Escrow Account is intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1. The Settlement Administrator, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed with respect to the Escrow Account. Defendant agrees to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e). Neither Defendant, Defendant’s Counsel, the Released Parties, Plaintiff, or Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. (i) All (i) taxes on the income of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred in connection with the taxation of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account. (j) The Settlement Fund will be used to pay the following amounts associated with the Settlement: i. Compensation to Settlement Class Members determined in accordance with Section 4.2; ii. Any Case Contribution Award approved by the Court; iii. All Attorneys’ Fees and Expenses approved by the Court; iv. Independent Fiduciary Fees and Costs; v. Administration Costs; and vi. Taxes and Tax-Related Costs.

The Settlement Amount. (a) In consideration of all of the promises and agreements set forth in this Agreement, Defendant L3Harris or its insurers will cause a monetary payment to be made in the amount of the Settlement Amount (defined above in Section 1.42 to be paidmean six hundred fifty thousand dollars ($650,000)) to the Escrow Account. No None of the other Released Party of the L3Harris Releasees shall have any obligation to contribute financially to this Settlement. (b) Defendant L3Harris or its insurers shall cause one hundred thousand dollars ($100,000) of the Settlement Amount to be deposited into the Escrow Account within thirty twenty-one (3021) calendar business days after of the later of (i) entry of the Preliminary Approval OrderOrder or (ii) the insurance carrier’s receipt of the payee information (W-9, complete wire instructions, and verbal confirmation of the wire instructions), to fund any Administrative Costs that arise before the Effective Date, including but not limited to the Independent Fiduciary Fees. The L3Harris or its insurers shall cause the remaining five hundred fifty thousand dollars ($550,000) of the Settlement Amount together with any interest and investment earnings thereon, shall constitute to be deposited into the “Settlement FundEscrow Account within fifteen (15) business days of the Effective Date.” (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j3.1(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement AdministratorAdministrator and the Escrow Agent. Neither Defendant Defendants nor Plaintiff Plaintiffs shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Courtor Escrow Agent. The Settlement Administrator and Escrow Agent shall not disburse the Settlement Fund Amount or any portion thereof except as provided for in this Agreement, by an Order order of the Court, or with prior written agreement of Class Counsel and Defendant’s Defendants’ Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Class Members that are consistent with the terms of this Agreement and with Orders orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent necessary and practicable, invest the Settlement Amount in discrete and identifiable instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then then-current market rates. The Settlement Administrator shall maintain records identifying in detail each instrument in which the Settlement Amount or any portion thereof has been invested, and identifying the precise location (including safe deposit box number) of each such instrument. Neither the Settlement Amount nor any portion thereof shall be commingled with any other monies in any instruments. Any cash portion of the Settlement Amount not invested in instruments of the type described in the first sentence of this Section 3.1(g) shall be maintained by the Settlement Administrator, and not commingled with any other monies, in a bank account that shall promptly be identified to the Parties. The Settlement Administrator and Settlement Class Members shall bear all risks related to investment of the Settlement Amount. (h) The Escrow Account is intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-11.468B-1 (the “Settlement Fund”). The Settlement Administrator, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § §1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed with respect to the Escrow Account. Defendant L3Harris agrees to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e1.468B-3(e). Neither DefendantDefendants, Defendant’s Defendants’ Counsel, the Released PartiesPlaintiffs, Plaintiff, or nor Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. (i) All (i) taxes on the income of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred in connection with the taxation of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account. (j) The Settlement Fund Amount, together with any interest accrued thereon, will be used to pay the following amounts associated with the Settlement: i. (1) Compensation to Settlement Class Members determined in accordance with Section 4.23.2; ii. Any Case Contribution Award approved by the Court; iii. (2) All Attorneys’ Fees and Expenses approved by the Court; iv. Independent Fiduciary Fees and Costs; v. (3) Administration Costs; and vi. and (4) Taxes and Tax-Related Costs.

The Settlement Amount. (a) In consideration 2.1 OneMain and/or OneMain’s insurers, on behalf of all the promises and agreements set forth in this AgreementDefendants, Defendant will shall pay or cause to be paid the Settlement Amount by wire transfer or check sent by overnight mail in accordance with instructions to be paidprovided by the Escrow Agent within fourteen (14) calendar days of the entry of an order granting preliminary settlement approval. No other Released Party shall have any obligation Alternatively, if the entire Settlement Amount is not timely paid to contribute financially to this Settlement. (b) Defendant shall cause the Escrow Agent, Lead Counsel may terminate the Settlement but only if (i) Lead Counsel have notified Defendants’ Counsel in writing of Lead Counsel’s intention to terminate the Settlement, and (ii) the entire Settlement Amount is not transferred to be deposited into the Escrow Account Agent within thirty three (303) calendar days after entry of the Preliminary Approval OrderLead Counsel have provided such written notice. The Settlement Amount together with any interest and investment earnings thereon, Escrow Agent shall constitute the “Settlement Fund.” (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement Administrator. Neither Defendant nor Plaintiff shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Court. The Settlement Administrator shall not disburse the Settlement Fund or any portion thereof except as provided for in this Agreement, by an Order of the Court, or with prior written agreement of Class Counsel and Defendant’s Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Class Members that are consistent with the terms of this Agreement and with Orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent practicable, invest deposit the Settlement Amount plus any accrued interest in discrete and identifiable instruments backed a segregated escrow account (the “Escrow Account”) maintained by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and Escrow Agent. No other Defendant shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. The Settlement Administrator and Settlement Class Members shall bear all risks related to investment of be responsible for the Settlement Amount. (h) 2.2 The Escrow Account is intended obligations incurred pursuant to this Stipulation shall be a “Qualified Settlement Fund” within the meaning in full and final disposition and settlement of Treasury Regulation § 1.468B-1all Released Claims. The Settlement AdministratorAmount paid by OneMain and/or its insurers on behalf of the Defendants is the sole monetary responsibility of the Released Persons under this Stipulation, and Releasing Plaintiff Parties who do not timely seek to exclude themselves from the Class shall not look to any of the Defendants or their respective Related Parties for satisfaction of any and all Released Claims. The Released Persons are not responsible for payment of Notice and Administration Expenses as defined below, or any out-of-pocket expenses, other than out of the Settlement Amount, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3)provided herein. The Released Persons shall have no responsibility for, shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed interest in, or liability whatsoever with respect to the Escrow Account. Defendant agrees to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e). Neither Defendant, Defendant’s Counsel, the Released Parties, Plaintiff, or Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. to: (i) All (i) taxes on any act, omission, or determination by Lead Counsel or the income Claims Administrator, or any of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred their respective designees, in connection with the taxation administration of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account. (j) The Settlement Fund will be used to pay the following amounts associated with the Settlement: i. Compensation to Settlement Class Members determined in accordance with Section 4.2or otherwise; ii. Any Case Contribution Award approved by the Court; iii. All Attorneys’ Fees and Expenses approved by the Court; iv. Independent Fiduciary Fees and Costs; v. Administration Costs; and vi. Taxes and Tax-Related Costs.

The Settlement Amount. ‌ (a) In consideration of all of the promises and agreements set forth in this Agreement, Defendant the Company will cause make a monetary payment of Three Million Dollars ($3,000,000) (the “Settlement Amount to be paidAmount”). No other of the Defendant Released Party Parties shall have any obligation to contribute financially to this Settlement.Settlement.‌ (b) Defendant The Company shall cause five-hundred thousand dollars ($500,000) of the Settlement Amount to be deposited by wire transfer into the Escrow Account within thirty fifteen (3015) calendar days after of the entry of the Preliminary Approval OrderOrder to fund any Administrative Costs that arise before the Effective Date. The Company shall cause the remaining two-and-a-half million dollars ($2.5 million) of the Settlement Amount together with any interest and investment earnings thereon, shall constitute to be deposited by wire transfer into the “Settlement Fund.”Escrow Account within fifteen (15) days of the Effective Date.‌ (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement Administrator. Neither Defendant Defendants nor Plaintiff shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Court. The Settlement Administrator shall not disburse the Settlement Fund Amount or any portion thereof except as provided for in this Agreement, by an Order of the Court, or with prior written agreement of Class Counsel and Defendant’s Defendants’ Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Monetary Relief Class Members that are consistent with the terms of this Agreement and with Orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent practicable, invest the Settlement Amount in discrete and identifiable instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. The Settlement Administrator shall maintain records identifying in detail each instrument in which the Settlement Amount or any portion thereof has been invested, and identifying the precise location (including safe deposit box number) of each such instrument. Neither the Settlement Amount nor any portion thereof shall be commingled with any other monies in any instruments. Any cash portion of the Settlement Amount not invested in instruments of the type described in the first sentence of this Section shall be maintained by the Settlement Administrator, and not commingled with any other monies, at a bank account, which shall promptly be identified to the Parties at either party’s request by account number and any other identifying information. The Settlement Administrator and Monetary Relief Class Members shall bear all risks related to investment of the Settlement Amount. (h) The Escrow Account is intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1. The Settlement Administrator, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § §1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed with respect to the Escrow Account. Defendant agrees Defendants agree to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e1.468B-3(e). Neither DefendantDefendants, Defendant’s Defendants’ Counsel, the Released Parties, Plaintiff, or nor Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. (i) All (i) taxes on the income of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred in connection with the taxation of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account.Account.‌ (j) The Settlement Fund Amount, together with any interest accrued thereon, will be used to pay the following amounts associated with the Settlement:Settlement:‌ i. (1) Compensation to Settlement Monetary Relief Class Members determined in accordance with Section 4.23.2; ii. (2) Any Case Contribution Award approved by the Court; iii. (3) All Attorneys’ Fees and Expenses approved by the Court; iv. (4) Independent Fiduciary Fees and CostsFees; v. (5) Administration Costs; and vi. and (6) Taxes and Tax-Related Costs.

The Settlement Amount. (a) In consideration of all the promises and agreements set forth in this Agreement, Defendant the Company will cause pay the Settlement Amount to be paidAmount. No other of the Defendant Released Party Parties shall have any obligation to contribute financially to this Settlement. (b) Defendant The Company shall pay the Settlement Amount in two segments, and this funding shall constitute the Settlement Fund. First, the Company shall cause five hundred thousand dollars ($500,000) of the Settlement Amount to be deposited by wire transfer into the Escrow Account within thirty fifteen (3015) calendar days after of the entry of the Preliminary Approval Orderto fund any Administrative Costs that arise before the Effective Date. The Second, the Company shall cause the remaining three million and three hundred thousand dollars ($3,300,000) of the Settlement Amount together with any interest and investment earnings thereon, shall constitute to be deposited by wire transfer into the “Settlement FundEscrow Account within fifteen (15) days following the Effective Date.” (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement Administrator. Neither Defendant Defendants nor Plaintiff Plaintiffs shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Court. The Settlement Administrator shall not disburse the Settlement Fund Amount or any portion thereof except as provided for in this Agreement, by an Order of the Court, or with prior written agreement of Class Counsel and Defendant’s Defendants’ Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Monetary Relief Class Members that are consistent with the terms of this Agreement and with Orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent practicable, invest the Settlement Amount in discrete and identifiable instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. The Settlement Administrator shall maintain records identifying in detail each instrument in which the Settlement Amount or any portion thereof has been invested, and identifying the precise location (including safe deposit box number) of each such instrument. Neither the Settlement Amount nor any portion thereof shall be commingled with any other monies in any instruments. Any cash portion of the Settlement Amount not invested in instruments of the type described in the first sentence of this Section shall be maintained by the Settlement Administrator, and not commingled with any other monies, at a bank account, which shall promptly be identified to the Parties at either party’s request by account number and any other identifying information. The Settlement Administrator and Monetary Relief Class Members shall bear all risks related to investment of the Settlement Amount. (h) The Escrow Account is intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1. The Settlement Administrator, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed with respect to the Escrow Account. Defendant agrees Defendants agree to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e1.468B-3(e). Neither DefendantDefendants, Defendant’s Defendants’ Counsel, the Released PartiesPlaintiffs, Plaintiff, or nor Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. (i) All (i) taxes on the income of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred in connection with the taxation of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account. (j) The Settlement Fund Amount, together with any interest accrued thereon, will be used to pay the following amounts associated with the Settlement: i. Compensation to Settlement Class Members determined in accordance with Section 4.2; ii. Any Case Contribution Award approved by the Court; iii. All Attorneys’ Fees and Expenses approved by the Court; iv. Independent Fiduciary Fees and Costs; v. Administration Costs; and vi. Taxes and Tax-Related Costs.

The Settlement Amount. (a) In consideration of all the promises and agreements set forth in this Agreement, Defendant the Company will cause pay the Settlement Amount to be paidAmount. No other of the Defendant Released Party Parties shall have any obligation to contribute financially to this Settlement. (b) Defendant The Company shall pay the Settlement Amount in two segments, and this funding shall constitute the Settlement Fund. First, the Company shall cause five hundred thousand dollars ($500,000) of the Settlement Amount to be deposited by wire transfer into the Escrow Account within thirty twenty (3020) calendar business days after of the entry of the Preliminary Approval OrderOrder to fund any Administrative Costs that arise before the Effective Date. The Second, the Company shall cause the remaining one million seven hundred and fifty thousand dollars ($1,750,000) of the Settlement Amount together with any interest and investment earnings thereon, shall constitute to be deposited by wire transfer into the “Settlement FundEscrow Account within twenty (20) business days following the Effective Date.” (c) The Settlement Amount shall be used solely for the purposes set forth in Section 4.1(j3.1(j) below. (d) Subject to Court approval and oversight, the Escrow Account will be controlled by the Settlement Administrator. Neither Defendant Defendants nor Plaintiff shall have any liability whatsoever for the acts or omissions of the Settlement Administrator appointed by the Court. The Settlement Administrator shall not disburse the Settlement Fund Amount or any portion thereof except as provided for in this Agreement, by an Order order of the Court, or with prior written agreement of Class Counsel and Defendant’s Defendants’ Counsel. (e) The Settlement Administrator is authorized to execute transactions on behalf of the Settlement Class Members that are consistent with the terms of this Agreement and with Orders orders of the Court. (f) All funds held in the Escrow Account shall be deemed to be in the custody of the Court and shall remain subject to the jurisdiction of the Court until the funds are distributed in accordance with this Agreement. (g) The Settlement Administrator shall, to the extent practicable, invest the Settlement Amount in discrete and identifiable instruments backed by the full faith and credit of the United States Government or fully insured by the United States Government or an agency thereof and shall reinvest the proceeds of these instruments as they mature in similar instruments at their then current market rates. The Settlement Administrator shall maintain records identifying in detail each instrument in which the Settlement Amount or any portion thereof has been invested, and identifying the precise location (including safe deposit box number) of each such instrument. Neither the Settlement Amount nor any portion thereof shall be commingled with any other monies in any instruments. Any cash portion of the Settlement Amount not invested in instruments of the type described in the first sentence of this Section shall be maintained by the Settlement Administrator, and not commingled with any other monies, at a bank account, which shall promptly be identified to the Parties at either party’s request by account number and any other identifying information. The Settlement Administrator and Settlement Class Members shall bear all risks related to investment of the Settlement Amount. (h) The Escrow Account is intended to be a “Qualified Settlement Fund” within the meaning of Treasury Regulation § 1.468B-1. The Settlement Administrator, as administrator of the Qualified Settlement Fund within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be solely responsible for filing tax returns for the Escrow Account and paying from the Escrow Account any Taxes owed with respect to the Escrow Account. Defendant agrees Defendants agree to provide the Settlement Administrator with the statement described in Treasury Regulation §1.468B- 3(e1.468B-3(e). Neither DefendantDefendants, Defendant’s Defendants’ Counsel, the Released Parties, Plaintiff, or nor Class Counsel shall have any liability or responsibility of any sort for filing any tax returns or paying any taxes with respect to the Escrow Account. (i) All (i) taxes on the income of the Escrow Account (“Taxes”) and (ii) expenses and costs incurred in connection with the taxation of the Escrow Account (including, without limitation, expenses of tax attorneys and accountants) (“Tax-Related Costs”) shall be timely paid by the Settlement Administrator out of the Escrow Account. (j) The Settlement Fund Amount, together with any interest accrued thereon, will be used to pay the following amounts associated with the Settlement: i. (1) Compensation to Settlement Class Members determined in accordance with Section 4.23.2; ii. (2) Any Case Contribution Award approved by the Court; iii. (3) All Attorneys’ Fees and Expenses approved by the Court; iv. (4) Independent Fiduciary Fees and CostsCosts (up to $25,000); v. (5) Administration Costs, including, without limitation, the Class Action Fairness Act Notice; and vi. and (6) Taxes and Tax-Related Costs.