Class Escrow Account definition

Class Escrow Account means an interest-bearing escrow account which shall be maintained until the Effective Date under the control of Lead Plaintiffs’ Counsel, and which, within ten (10) business days after the District Court issues an order granting preliminary approval of the Settlement, shall be released to Lead Plaintiffs’ Counsel.
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Class Escrow Account means an interest-bearing escrow account which shall be maintained by Plaintiffs’ Lead Counsel until the Effective Date pursuant to the terms of the Settlement Agreement.
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Class Escrow Account means an escrow account which shall be maintained until the Effective Date under the joint control of the Lead Plaintiffs’ Counsel and the Individual Defendants’ Counsel, with the escrow agent and escrow instructions to be mutually agreed to by the Lead Plaintiffs’ Counsel and the Individual Defendants’ Counsel (who will confer with certain Individual Defendants’ insurers prior to reaching said agreement), and which, after the Effective Date, shall be under the exclusive control of the Lead Plaintiffs’ Counsel.
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Examples of Class Escrow Account in a sentence

  • Interest earned by the Consumer Class Escrow Account, Commercial Class Escrow Account and the Attorneys’ Fees Escrow Account, as the case may be, shall be credited not less than monthly.

  • Upon approval of the Commercial Plan of Distribution, the Escrow Agent will consolidate the Commercial Class Escrow Account subaccounts and transfer the Balance of the Commercial Class Settlement Amount to the Settlement Administrator for distribution to the Commercial Settlement Class claimants.

  • Costs and administrative expenses associated solely with the Commercial Settlement Class shall be borne solely by the Commercial Class Escrow Account.

  • The Escrow Agent shall thereupon divide (a) the Consumer Class Escrow Account into subaccounts according to the Applicable State Consumer Fund Percentages; and, (b) the Commercial Class Escrow Account into subaccounts according to the Applicable State Commercial Fund Percentages.

  • In all other respects, including in respect of costs and administrative expenses of notice published or sent to members of both the Consumer Settlement Class and the Commercial Settlement Class, costs shall be borne 50% by the Consumer Class Escrow Account and 50% by the Commercial Class Escrow Account.

  • There shall be returned to the Terminating Settling Defendant (i) its Settlement Percentage of the Balance of the Commercial Class Escrow Account; and (ii) its Settlement Percentage of 50% of the Balance of the Attorneys’ Fees Escrow Account.

  • Upon receipt of the Class Settlement Payment into the Class Escrow Account, there shall be an immediate disbursement to the Settlement Administrator in the amount of $50,000 for initial Administration Costs.

  • Costs and administrative expenses associated solely with the Consumer Settlement Class shall be borne solely by the Consumer Class Escrow Account.

  • Within five business days of the execution of this Multistate Settlement Agreement, from funds presently held in escrow, the Settling Defendants shall pay the Consumer Class Settlement Amount into the Consumer Class Escrow Account, and the Commercial Class Settlement Amount into the Commercial Class Escrow Account.

  • Up to $1,450,000 ($725,000 from the Consumer Class Escrow Account, drawn from its subaccounts in accordance with the Applicable State Consumer Fund Percentage; and $725,000 from the Commercial Class Escrow Account, drawn from its subaccounts in accordance with the Applicable State Commercial Fund Percentage) shall be available immediately upon Preliminary Approval to pay such Notice Costs and administrative expenses as may be approved by the MDL Court.


More Definitions of Class Escrow Account

Class Escrow Account means the separate escrow account designated and agreed upon by Lead Counsel and SSBT at a national banking institution into which the Class Settlement Amount will be deposited for the benefit of the Settlement Class.
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Related to Class Escrow Account

  • Indemnity Escrow Account means the indemnity escrow account established by the Escrow Agent pursuant to the Escrow Agreement.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Accounts means the ‘no-lien’ and ‘non-interest bearing’ account(s) opened with Escrow Collection Bank and in whose favour the Anchor Investors will transfer money through direct credit or NEFT or RTGS or NACH in respect of the Bid Amount when submitting a Bid;

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.