Cy Pres definition

Cy Pres or “Cy Pres Recipients” means the non-profit organizations that, subject 15 to Court approval, may receive monies pursuant to this Agreement.

Cy Pres means Privacy Rights Clearinghouse, a 501(c)(3) nonprofit organization.

Cy Pres means the “next best” alternative. “Typically, the court employs cy pres where class members cannot be located or where individual recoveries would be so small as to make distribution economically impossible.” In re Matzo Food Products Litigation , 156 F.R.D. 600, 605 (D.N.J. 1994); In re “Agent Orange” Product Liability Litigation , 818 F.2d 179, 185 (2d Cir. 1987) (“[a] district court may, in order to maximize ‘the beneficial impact of the settlement fund on the needs of the class,’ set aside a portion of the settlement proceeds for programs designed to assist the class”).

Examples of Cy Pres in a sentence

If, despite the best efforts of the Settlement Administrator, a residual amount remains after distribution, all remaining balance shall be paid to the Cy Pres Recipient to ensure no funds revert to HBSC.

Cy Pres literally means ‘near to’.

Cy Pres or “Cy Pres Designee” shall mean the National Volunteer Fire Council, which entity meets the requirements of California Code of Civil Procedure section 384’s requirement, and which shall receive those funds remaining of the Net Settlement Fund after payment of the Settlement Benefit to all Class Members submitting Claim Forms.

Cy Pres is a legal doctrine that means “as near as possible.” Under ICAPA, if the Attorney General cannot return recovered charitable assets to the charitable organization that previously held them, the Attorney General may ask the district court to approve transferring the charitable assets to another charitable organization with a similar charitable purpose. This ensures that charitable assets are not diverted from their original charitable purpose.

Cy Pres means Bet Tzedek.

Cy Pres is a means of distributing unclaimed, non-distributable class settlement funds to the “next best” class of beneficiaries

Cy Pres or “Cy Pres Designee” shall mean the Eviction Defense Network, which entity meets the requirements of California Code of Civil Procedure section 384, and which shall receive those funds remaining of the Net Settlement Fund after payment of the Settlement Benefit to all Class Members submitting Claim Forms.

Cy Pres means a gift of all Unclaimed Funds to be paid to the Southeastern Ohio Legal Services (SEOLS), Portsmouth Office.