Cy Pres Beneficiary definition

Cy Pres Beneficiary is any non-profit organization, other than a law firm, legal services entity, or educational institution, that has provided agricultural, business assistance, or advocacy services to Native American farmers between 1981 and the Execution Date that will be proposed by Class Counsel and approved by the Court.
Sample 1Sample 2
Cy Pres Beneficiary means one or more entities jointly selected by Class Counsel and Defense Counsel, and approved by the Court, to receive any residual funds from the Net Settlement Fund after funds are distributed to Class Members in accordance with this Agreement.
Sample 1Sample 2
Cy Pres Beneficiary means one or more 501(c)(3) organizations to be named prior to Final Approval and approved by the Court.
Sample 1Sample 2

Examples of Cy Pres Beneficiary in a sentence

  • The funds represented by the face value (money amount) of all settlement checks that are deemed void shall be distributed to the Cy Pres Beneficiary or as otherwise ordered by the Court.

  • The funds represented by the face value (money amount) of all settlement checks that are deemed void shall be distributed to the Cy Pres Beneficiary, or as otherwise ordered by the Court.

  • Pursuant to California Code of Civil Procedure section 384, the Parties shall amend the Final Judgment to direct the Settlement Administrator to pay the sum of any uncashed checks, plus any interest accrued thereon, to the Cy Pres Beneficiary.

  • Sums paid by checks not cashed within sixty (60) days of the final distribution by the Claims Administrator shall be paid to the Cy Pres Beneficiary.

  • If no additional address is obtained through the tracing process, the funds shall become part of the funds to be redistributed to Eligible Claimants or allocated to the Cy Pres Beneficiary and distributed in accordance with Paragraph 5(g).

  • Cy Pres: Any amounts remaining from uncashed checks from the Final Distribution after checks are cancelled within 60 days shall be issued to the Cy Pres Beneficiary.

  • If no claim is made for such checks during this time period, the funds shall become part of the funds to be redistributed to Eligible Claimants or allocated to the Cy Pres Beneficiary and distributed in accordance with Paragraph 5(g).

  • Rather, if the total value of all Verified Claims is less than the Net Settlement Amount, the remaining amount available to pay Verified Claims (i.e., the Net Settlement Amount minus the total value of all Verified Claims) shall be paid to the Cy Pres Beneficiary, and the Court’s decision shall not affect the validity and enforceability of the Settlement and shall not be a basis for anyone to seek to void the Settlement or for rendering the entire Settlement null, void, or unenforceable.

  • Sums paid by checks from the Third Payment that are not cashed within sixty (60) days of the mailing by the Settlement Administrator shall be paid to the Cy Pres Beneficiary.

  • The size of the Cy Pres Fund–a substantial change in the factual circumstances from those projected at the time of the settlement–makes the one-time, pro-rata distribution to the very few organizations that meet the current Cy Pres Beneficiary definition “unworkable” in the sense contemplated by Courts in making modification decisions under Rule 60(b)(5).


More Definitions of Cy Pres Beneficiary

Cy Pres Beneficiary means the charitable organization selected by the Parties, namely, the Stark County Domestic Violence Project, to receive one or more payments in the circumstances specified by this Agreement.
Sample 1
Cy Pres Beneficiary means The Center for WorkLife Law.
Sample 1
Cy Pres Beneficiary means Human Options, an Orange County non-profit organization assisting victim of relationship violence, or other 501(c)(3) organization approved by the Court.
Sample 1
Cy Pres Beneficiary means, the Consumer Federation of California.
Sample 1

Related to Cy Pres Beneficiary

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Surviving beneficiary or "surviving descendant" means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • land reform beneficiary , in relation to a property, means a person who -

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • SERP Benefit means the benefit described in Section 5.1.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Accrued Benefit have the meanings specified in ERISA.