Unclaimed Settlement Funds Clause Samples
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Unclaimed Settlement Funds. All unclaimed or uncashed settlement funds shall be paid to the cy pres beneficiary The cy pres recipient shall be proposed by the parties and approved by the Court. The Parties propose Legal Aid at Work which provides legal services assisting low-income, working families and promotes better understanding of the conditions, policies, and institutions that affect the well-being of workers and their families and communities. The Settlement Administrator shall distribute any cy pres payment.
Unclaimed Settlement Funds. Settlement Award checks that are not cashed within 90 days after the issue date on the check shall be voided.
Unclaimed Settlement Funds. Settlement Award checks that are not cashed within 90 days after the issue date on the check shall be voided. If a second distribution to claimants who cashed checks is administratively feasible, the Settlement Administrator shall mail each Claimant who cashed their first check a second award check, which shall be calculated in the same manner as the Settlement Awards. Class counsel and the Settlement Administrator shall submit a proposal to the Court regarding the feasibility of a second distribution after the period for cashing first distribution checks has closed. Section XII entitled “Release of Claims” is modified as follows:
Unclaimed Settlement Funds. Settlement Award checks that are not cashed within 120 days after the issue date on the check shall be voided. Unclaimed settlement funds shall revert to MOE’s member compassion fund.