Examples of Cash Settlement Fund in a sentence
If the Settlement is finally approved by the Court, members of the Settlement Class will be entitled to payments from the Cash Settlement Fund as set forth in the Plan of Allocation below, subject to the provisions of the Settlement Agreement.
By three business days after such termination or disapproval, the Cash Settlement Amount shall be returned by the Settlement Administrator to BNY Mellon; provided, however, that the interest accrued in the Cash Settlement Fund shall first be used to pay settlement administration costs already incurred by the Settlement Administrator pursuant to the Agreement, and, if any interest money remains, it too shall be returned to BNY Mellon.
Various expenses, such as the costs of notice and claims administration and attorneys’ fees for Settlement Class Counsel, also will be paid out of the Cash Settlement Fund.
If the Court approves the proposed Settlement, Settlement Class Counsel will apply to the Court for an award of attorneys’ fees in an amount not to exceed 25% of the Cash Settlement Fund and reimbursement of expenses not to exceed $1,500,000.
An Independent Fiduciary has recommended that the $4 million Cash Settlement Fund be distributed among those class members who are no longer employed by Sprint and who will not receive a share of the $1.6 million Increased Vesting described in Paragraph C, below.