Xxxxx Settlement Amount Allocation Sample Clauses

Xxxxx Settlement Amount Allocation. The amount available from the Gross Settlement Amount for the Settlement Collective Members’ pro rata Settlement Payments (the “Net Settlement Amount”) shall be the Gross Settlement Amount minus the amounts paid to Plaintiffs’ Counsel for Attorneys’ Fees, Costs, and Expenses, Service Payment awards, and Settlement Administration costs. Each Settlement Class Member’s Settlement Payment is set forth on Exhibit A. Parties agree to the calculation of the Settlement Payments on Exhibit A which are calculated based on weeks each Potential Opt-in Plaintiff worked overtime hours, assuming that in addition to the hours the Potential Opt-in Plaintiff recorded or could be assumed using a minimum of 7.5 hours per day, plus 48 minutes of hours worked per day during the period NCG classified Potential Opt-in Plaintiffs as exempt (June 1, 2017 through November 24, 2019), and plus 24 minutes of hours worked per day during the period NCG classified Potential Opt-in Plaintiffs as non-exempt until the end of the Statutory Time Period (November 24, 2019 through November 28, 2020). In addition to their pro rata Settlement Payments, in recognition of their service to the Settlement Class Members and in exchange for the release set forth in Section 5, certain Plaintiffs will receive service payments (each a “Service Payment”), as follows: Plaintiff Xxxx Xxxxxxx shall receive an additional payment of Five Thousand and No/100 Dollars ($5,000.00); Plaintiffs Xxxxxxxxx Xxxx and Xxxxxx Xxxxxx shall each receive an additional payment of One Thousand and No/100 Dollars ($1,000.00); and Plaintiffs Xxxx Xxxxxxx, Xxxx Xxxxxxxx, Xxxxxxxxx Xxxxxx, Xxxxx Xxxxxxxx, and Xxxxxxx Xxxxxx shall each receive an additional payment of Six Hundred and No/100 Dollars ($600.00).
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Related to Xxxxx Settlement Amount Allocation

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $290,000.00 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 4.3 of this Agreement. 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.

  • 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.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Payment Allocation Subject to applicable law, your payments may be applied to what you owe the Credit Union in any manner the Credit Union chooses. However, in every case, in the event you make a payment in excess of the required minimum periodic payment, the Credit Union will allocate the excess amount first to the balance with the highest annual percentage rate and any remaining portion to the other balances in descending order based on applicable annual percentage rate.

  • 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).

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

  • 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:

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

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