Uncleared Checks. Those Settlement Class Members whose cash benefit checks are not cleared within one hundred eighty (180) days after issuance will be ineligible to receive a cash settlement benefit from the Settlement Fund, and Defendant will have no further obligation to make any payment pursuant to this Agreement or otherwise to such Settlement Class Members. Any unclaimed funds remaining after administration of this Settlement Agreement will be paid pursuant to Paragraph 3.4(e).
Uncleared Checks. Those Settlement Class Members whose cash benefit checks are not cleared within one hundred eighty (180) days after issuance will be ineligible to receive a cash settlement benefit from the Settlement Fund, and Defendant will have no further obligation to make any payment pursuant to this Agreement or otherwise to such Settlement Class Members. Any unclaimed funds remaining after administration of this Settlement Agreement will be paid pursuant to ORCP 32 O with one-half of the unpaid funds paid to the Oregon State Bar for the funding of legal services provided through the Legal Services Program established under ORS 9.572, and the remaining one-half of the unclaimed funds paid to Oregon Consumer Justice, a not-for-profit organization, as approved by the Court.
Uncleared Checks. The Seller shall retain the liability for payment with respect to any checks of the Company written prior to the Effective Date to pay for services or goods received in the ordinary course of Company's business and consistent with the Company's past payment practices prior to the Closing. The Seller shall not be liable for any checks written to prepay for any goods or services.
Uncleared Checks. At the Closing, Sellers shall deliver to Purchaser a true and correct copy of all check registers showing all checks drafted by any of the Companies that have not cleared ("Uncleared Checks") as of the close of business on the business day immediately before the Closing Date (the "Check Register Date"). Sellers shall also cooperate with Purchaser and its representatives in gathering information related to Uncleared Checks from all banks at which DFI or Sellers have accounts upon which Uncleared Checks have been drawn. At the Closing, Sellers shall provide Purchaser evidence reasonably satisfactory to Purchaser that funds in an amount, when added to the proceeds of the sale of Loans to Bingxxx xx the Closing as described in Section 7.2(g) below, at least equal to 110% of the aggregate amount of all Uncleared Checks outstanding as of the Check Register Date have been segregated in a separate trust account designated for the benefit of DFI and its assigns to fund the Uncleared Checks included in the check registers. All proceeds of the sale of Loans to Bingxxx xxxl be transferred by wire to the trust account referenced above. To the extent such funds have actually been segregated as of the Closing, the amount of "Cash set aside for outstanding checks" and "Outstanding checks" will be deemed to be reduced or eliminated as line items on the Estimated Closing Balance Sheet and the Adjusted Closing Balance Sheet. No later than five business days after the Closing Date, Sellers shall determine the number of Uncleared Checks that were actually outstanding as of the Closing and the aggregate amount for which those checks were drafted. Once determined, Sellers will deliver to Purchaser updated copies of the check registers described above and evidence that funds in an amount at least equal to the aggregate amount of all Uncleared Checks then outstanding have been segregated as described above.
Uncleared Checks. Those Settlement Class Members whose reimbursement checks are not cleared within one hundred eighty (180) days after issuance will be ineligible to receive a settlement benefit payment and Defendant will have no further obligation to make any payment pursuant to this Settlement Agreement or otherwise to such Settlement Class Members. Unpaid funds from uncleared checks will in no event revert back to Defendant. Any unpaid funds remaining after administration of the Classwide Settlement will be donated as cy pres to a non-sectarian, not-for-profit organization(s) recommended by the Parties and approved by the Court.
