The Settlement Fund Sample Clauses
The Settlement Fund. 34. The Escrow Account shall be established as a “qualified settlement fund” as defined in Section 1.468B-1(a) of the U.S. Treasury Regulations or other appropriate escrow account as agreed to by the Settling Parties.
35. After preliminary approval of the Settlement, Co-Lead Counsel may utilize up to $100,000 from the Notice Fund to provide notice of the Settlement to potential members of the Settlement Class and for notice administration, without an order from the Court. The amount spent or incurred for notice and notice administration is not refundable to Settling Defendants in the event the Settlement Agreement is disapproved, rescinded, or otherwise fails to become effective.
36. From the Notice Fund and the Settlement Fund shall be paid the cost of settlement notice, claims administration, class representatives’ incentive awards, attorneys’ fees, reimbursement of all actual expenses of the Action, any other litigation costs of Plaintiffs, and all applicable taxes, if any. The Settling Parties shall have the right to audit amounts paid from the Settlement Fund prior to the final approval of the Settlement.
37. The Settlement Fund shall be invested in United States Government Treasury obligations or United States Treasury money market funds. The Notice Fund may be deposited in a bank account, in which case it will be deposited in a federally insured interest-bearing account.
38. Settling Defendants shall not have any responsibility, financial obligation, or liability whatsoever with respect to the investment, distribution, use, or administration of the Settlement Fund, including, but not limited to, the costs and expenses of such investment, distribution, use or administration except as expressly otherwise provided in this Settlement Agreement.
39. Settling Defendants’ only payment obligation is to pay the Settlement Amount. Settling Defendants shall not be liable for any costs, expenses, or fees of any of Plaintiffs’ respective attorneys, experts, advisors, agents, or representatives. Payment of all such costs, expenses, and fees, as approved by the Court, shall be paid only out of the Settlement Fund or the Opt-Out Fee and Expense Account. No disbursements shall be made from the Notice Fund or the Settlement Fund prior to the Effective Date of this Settlement Agreement except as described in Paragraphs 35 and 36, above.
40. The distribution of the Settlement Fund shall be administered pursuant to a plan of allocation (the “Plan of Allocation”) propose...
The Settlement Fund. 37. Releasors’ sole recourse for settlement and satisfaction against the Releasees of all Released Claims is against the Settlement Fund, and Releasors shall have no other recovery against Aisan or any other Releasee as to the Released Claims.
38. After this Agreement becomes final within the meaning of Paragraph 19, the Settlement Fund shall be distributed in accordance with a plan to be submitted to the Court at the appropriate time by Settlement Class Counsel, subject to approval by the Court. In no event shall any Releasee have any responsibility, financial obligation, or liability whatsoever with respect to the investment, distribution, or administration of the Settlement Fund, including, but not limited to, the costs and expenses of such distribution and administration except as expressly otherwise provided in Paragraphs 28 and 34.
39. Direct Purchaser Plaintiff and Settlement Class Counsel shall be reimbursed and indemnified solely out of the Settlement Fund for all expenses and costs, as provided by Court Order and the provisions of Paragraphs 28 and 34. Aisan and the other Releasees shall not be liable for any costs, fees, or expenses of the Direct Purchaser Plaintiff or the Settlement Class’ respective attorneys, experts, advisors, agents, or representatives. Instead, all such costs, fees, and expenses as approved by the Court, or authorized by Paragraphs 28 and 34, shall be paid out of the Settlement Fund.
I. Settlement Class Counsel’s Attorneys’ Fees, Reimbursement of Expenses, and Incentive Award for the Class Representative
40. Subject to Court approval, Direct Purchaser Plaintiff and Settlement Class Counsel shall be reimbursed and paid solely out of the Settlement Fund for all past, current, or future litigation costs and expenses and any award of attorneys’ fees. An incentive award to the Direct Purchaser Plaintiff, if approved by the Court, will also be paid solely out of the Settlement Fund. Attorneys’ fees and costs and expenses awarded by the Court shall be payable from the Settlement Fund upon award, notwithstanding the existence of any timely filed objections thereto, or potential appeal therefrom, or collateral attack on the settlement or any part thereof, subject to Settlement Class Counsel’s obligation to make appropriate refunds or repayments to the Settlement Fund with interest, if and when, as a result of any appeal or further proceedings on remand, or successful collateral attack, the fee or award of costs and expenses is redu...
The Settlement Fund. 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.
38. After this Agreement becomes final within the meaning of Paragraph 28, the Settlement Fund shall be distributed in accordance with plans to be submitted to the Court at the appropriate time by Settlement Class Counsel, subject to approval by the Court. In no event shall any Releasee have any responsibility, financial obligation, or liability whatsoever with respect to the investment, distribution, or administration of the Settlement Fund, including the costs and expenses of such investment, distribution, and administration, except as expressly otherwise provided in Paragraphs 33 and 35 (both concerning payments made solely out of the Settlement Fund).
39. Direct Purchaser Plaintiff(s) and Settlement Class Counsel shall be reimbursed and indemnified solely out of the Settlement Fund for their expenses and costs, as provided by Court order and the provisions of Paragraphs 33, 35, and 40. The DENSO Defendants and other Releasees shall not be liable for any costs, fees, or expenses of any of Direct Purchaser Plaintiff(s)’ or the Settlement Class’s respective attorneys, experts, advisors, agents, or representatives. Instead, all such costs, fees, and expenses as approved by the Court, or authorized by Paragraphs 33 and 35, shall be paid out of the Settlement Fund.
The Settlement Fund. 2.1. Cerence, on behalf of all Defendants, shall transmit or cause to be transmitted, by check, ACH or wire transfer, Thirty Million Dollars ($30,000,000.00) (the “Settlement Amount”) in cash into an escrow account to be maintained and controlled by Lead Counsel (the “Escrow Account”) within twenty (20) business days of the later of (i) the date of entry of the Court order granting preliminary approval of the Settlement; or (ii) the provision of complete written wire, ACH and check payment instructions (and any forms reasonably requested by any payor of a portion of the settlement amount) by Lead Counsel to Defendants’ Counsel, including without limitation the banking information for the Escrow Account, the name, title, email address and phone number of a person authorized to verbally confirm the wire and ACH instructions, and a signed W-9 (on the IRS 2024 version of the form) reflecting a valid taxpayer identification number for the Escrow Account in which the Settlement Amount is to be deposited.
2.2. Except as expressly provided in this Paragraph 2.2, the funding of the Settlement Amount shall be the full and sole monetary contribution made by or on behalf of the Defendants and the Released Defendant Persons in connection with the Settlement, and Defendants shall have no responsibility for payment of Plaintiff’s Counsel’s attorneys’ fees and expenses or any other amounts in connection with the Settlement memorialized herein beyond payment of the Settlement Amount. All costs of notice and administration of the Settlement, other than any costs associated with Defendants’ obligation under 28 U.S.C. § 1715(b) to provide notice under the Class Action Fairness Act of 2005 (“CAFA”) and any costs incurred by Defendants in connection with providing Cerence’s stock transfer records, shall be paid out of the Escrow Account. Notwithstanding the fact that the Effective Date has not yet occurred, Lead Counsel may pay from the Escrow Account the actual costs of Notice and Administration Expenses up to Three Hundred Thousand Dollars ($300,000.00) without further order of the Court. Other than the costs of Defendants’ providing ▇▇▇▇▇▇▇’s stock transfer records and disseminating CAFA notice, which costs shall be paid by Defendants, Defendants shall have no responsibility for Notice and Administration Expenses of the Settlement in excess of the Settlement Amount. Except as otherwise provided in this Stipulation with respect to payment of the Fee and Expense Award and the ...
The Settlement Fund a. Before the Court issues the Final Approval Order, disbursements for reasonable expenses, including expenses associated with providing notice of the Settlement to the Settlement Class, expenses associated with administering the Settlement, and expenses associated with developing a plan of allocation of the Settlement Fund to those who submit valid and timely claims, and any payments and expenses incurred in connection with taxation matters relating to the Settlement and this Settlement Agreement (collectively, “Administration Expenses”) may be made from the Settlement Fund. Disbursements for Administration Expenses prior to or after the Effective Date may be made without court order up to a total of $250,000; all Administration Expenses incurred or owed by Settlement Class Counsel in excess of this amount whether before or after the Effective Date, shall be borne by Settlement Class Counsel, who may be repaid from the Settlement Fund, or may seek to have outstanding invoices paid from the Settlement Fund, after the Effective Date upon Court approval. In the event the Settlement Agreement is disapproved, terminated, or otherwise fails to become effective, the Settlement Fund shall be refunded to Settling Defendants plus interest earned (net of any taxes paid on such interest), minus Administration Expenses not to exceed $250,000. Court approval shall not be required for disbursements for Administration Expenses for amounts (in the aggregate) of less than $250,000. Otherwise, no disbursement from or distribution of the Settlement Fund shall be made without prior approval of the Court.
b. At all times prior to the Effective Date, the Settlement Fund shall be invested as set forth in the Escrow Agreement, in 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, including a U.S. Treasury Money Market Fund or a bank account insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the guaranteed FDIC limit. After the Effective Date, the Settlement Fund shall be invested as directed in writing by Lead Counsel or her designee. All interest and dividends earned on the Settlement Fund shall become and remain part of the Settlement Fund. Any losses on the Settlement Fund shall be borne by the Settlement Fund and shall not be recoverable from Settling Defendants. Settling Defendants shall have no liability, obligation, or responsibility of any kind in connectio...
The Settlement Fund. 6.1 Class Counsel will establish an interest-bearing escrow account to serve as the Settlement Fund at Huntington Bancshares, Inc. or another financial institution approved by Class Counsel and Hometrust’s Counsel, which shall be maintained pursuant to Treasury Regulation § 1.468B-1, et seq.
6.2 By no later than seven days prior to filing the Motion for Preliminary Approval of this Agreement, Hometrust will deposit $700,000 into the Settlement Fund.
6.3 As described in this Agreement, the Settlement Fund shall be the sole source of monetary funds for all relief referenced below and shall be used by the Settlement Administrator to pay for:
(a) Taxes and Tax-Related Expenses;
(b) Economic Loss Claims, Attested Time Claims, and Cash Payments;
(c) Credit Monitoring;
(d) Notice and Administrative expenses;
(e) Representative Plaintiff’s Service Awards;
(f) Class Counsel’s Attorneys’ Fees, Costs, and Expenses; and
(g) Any other remuneration called for by this Agreement, other than Hometrust’s expenses and attorneys’ fees related to this Action.
6.4 No amounts may be withdrawn from the Settlement Fund unless (i) expressly authorized by this Agreement; or (ii) approved by the Court, except that up to $100,000 may be used to provide the Settlement Class Members notice under the notice plan approved by the Court and to pay for administrative expenses. The Settlement Administrator shall be frugal and prudent in incurring notice and administrative expenses.
6.5 All funds held in the Qualified Settlement Fund shall be deemed to be in the custody of the Court upon the deposit of those funds until such time as the funds shall be distributed to Settlement Class Members or used as otherwise disbursed pursuant to this Agreement and/or further order of the Court.
6.6 The Parties agree that the Settlement Fund is intended to be maintained within the meaning of Treasury Regulation § 1.468B-1, and that the Settlement Administrator shall be responsible for filing tax returns and any other tax reporting for or in respect of the Settlement Fund and paying from the Settlement Fund any Taxes and Tax-Related Expenses owed with respect to the Settlement Fund. The Parties agree that the Settlement Fund shall be treated as an escrow account from the earliest date possible and agree to any relation-back election required to treat the Settlement Fund as an escrow account from the earliest date possible.
6.7 All Taxes and Tax-Related Expenses shall be paid out of the Settlement Fund and sh...
The Settlement Fund. 30. In addition to the Cooperation, Releasors’ sole recourse for settlement and satisfaction of all Released Claims against the Releasees is against the Settlement Fund, and Releasors shall have no other recovery against Faurecia or any other Releasee other than the Settlement Fund.
31. After this Agreement becomes final within the meaning of Paragraph 21, the Settlement Fund shall be distributed in accordance with a plan to be submitted to the Court at the appropriate time by Settlement Class Counsel, subject to approval by the Court. In no event shall any Releasee have any responsibility, financial obligation, or liability whatsoever with respect to the investment, distribution, or administration of the Settlement Fund, including, but not limited to, the costs and expenses of such distribution and administration except as expressly otherwise provided in Paragraphs 26 and 29 of this Agreement.
32. Direct Purchaser Plaintiffs and Settlement Class Counsel shall be reimbursed and indemnified solely out of the Settlement Fund for all expenses and costs, as provided by Court Order and the provisions of Paragraphs 26 and 29. Faurecia and the other Releasees shall not be liable for any costs, fees, or expenses of any of Direct Purchaser Plaintiffs’ or the Settlement Class’ respective attorneys, experts, advisors, agents, or representatives, but all such costs, fees, and expenses as approved by the Court or authorized by Paragraphs 26 and 29 shall be paid out of the Settlement Fund.
33. Settlement Class Counsel’s Attorneys’ Fees, Reimbursement of Expenses, and Incentive Awards for the Class Representatives.
(a) Subject to Court approval, Direct Purchaser Plaintiffs and Settlement Class Counsel shall be reimbursed and paid solely out of the Settlement Fund for all past, current, or future litigation costs and expenses and any award of attorneys’ fees. An incentive award to each Direct Purchaser Plaintiff, if approved by the Court, will also be paid solely out of the Settlement Fund. Attorneys’ fees and costs and expenses awarded by the Court shall be payable from the Settlement Fund upon award, notwithstanding the existence of any timely filed objections thereto, or potential appeal therefrom, or collateral attack on the settlement or any part thereof, subject to Settlement Class Counsel’s obligation to make appropriate refunds or repayments to the Settlement Fund with interest, if and when, as a result of any appeal and/or further proceedings on remand, or succes...
The Settlement Fund. 1. The Zaappaaz Defendants shall pay or cause to be paid the portions of the Settlement Amount by wire transfer to the Escrow Agent pursuant to the schedule established in Section II.29 above. Before final approval of the settlement by the Court, if the Zaappaaz Defendants fail to make a required payment pursuant to the schedule set forth in Section II.29 above and do not cure within 15 days of the failure to make such payment, the Settlement shall be null and void, and all parties shall return to their respective positions in this actions as if this Agreement had never been executed, provided that the Zappaaz Defendants are refunded all settlement payments made (except for any amounts already spent on notice under Section II.29(i) above) and given notice of the Settlement being declared null and void. If the Zappaaz Defendants cure prior to being refunded all of the settlement payments they had made, the Settlement shall not be null and void, and the parties shall continue operating under this Agreement. After final approval of the settlement by the Court, if the Zaappaaz Defendants fail to make a required payment pursuant to the schedule set forth in Section II.29 and fail to cure such failure within 15 days of being provided notice, the total amount of the settlement shall immediately become due and payable and Plaintiffs will be allowed to take any and all legal actions to collect such debt. Before any wire transfer takes place, Lead Class Counsel shall provide the Zaappaaz Defendants with information necessary to complete the wire transfer. These wire-transferred funds, together with any interest earned thereon in the escrow account from the date of such wire transfer, shall constitute the Settlement Fund. The Settlement Fund shall be established as an escrow account and administered by the Escrow Agent, subject to approval by the Court. Should the Settlement become final, the Zaappaaz Defendants, and each of them, shall under no circumstances have any reversionary interest in the Settlement Fund or any portion thereof, except as provided in Section II.29(i) above.
2. Other than payment of the Settlement Amount in accordance with the provisions of Section IV.1 above, the Zaappaaz Defendants shall not have any liability, responsibility, or obligation to pay or reimburse any other amounts to any Person, including but not limited to Plaintiffs, Class Counsel, any Class Member, or any Releasing Parties in connection with, relating to, or arising out of th...
The Settlement Fund. In full and final settlement of the claims asserted by the Plaintiff Parties, including those brought on behalf of the Settlement Class Members, against Columbia in the Action, and in exchange for the releases and other consideration set forth herein, Columbia agrees to pay a total of $1,500,000.00 to the Settlement Fund as provided below:
(a) Payment of (i) $1,000,000.00 shall be made by August 1, 2024; and
The Settlement Fund. 15 (a) Before the Court issues the final approval order, disbursements for Administration 16 Expenses may be made by Class Counsel from the Settlement Fund as follows. Approval by the 17 Court or Endo shall not be required for payment of Administration Expenses, including the taxes, 18 professional fees and other expenses related to maintaining the Escrow Account, for amounts of 19 less than $500,000 in the aggregate, although upon ▇▇▇▇’s request Class Counsel will identify 20 any such payments. Disbursements from the Settlement Fund that would equal or exceed 21 $500,000 in the aggregate may be made only with prior approval of Endo or the Court. If the 22 Settlement Agreement is disapproved, terminated, or fails to become effective, previously 23 disbursed Administration Expenses shall not be refunded to Endo.