Cy Pres Payment definition

Cy Pres Payment means monetary distributions made to a charitable entity or entities— to be chosen by the Parties at a later date—in the event Residual Funds remain after distribution of the Net Settlement Fund.
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Cy Pres Payment means the amount of any unpaid cash residue or unclaimed or abandoned Settlement funds, plus any accrued interest.
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Cy Pres Payment means payment(s) to one or more charitable
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Examples of Cy Pres Payment in a sentence

  • Subject to approval by the Court, under the Settlement, the total cash consideration to be provided by WTC shall be $425,000.00, inclusive of the amount paid to Settlement Class Members, and any and all attorneys’ fees, costs, and expenses awarded to Class Counsel, any Service Award to the Class Representative, and, if necessary, any Cy Pres Payment.


More Definitions of Cy Pres Payment

Cy Pres Payment means a distribution to charity of unclaimed funds as described in Section 11.3 of this agreement.
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Related to Cy Pres Payment

  • Advance Payment means a payment that a federal awarding agency or passthrough entity makes by any appropriate payment mechanism, including a predetermined payment schedule, before the non-federal entity disburses the funds for program purposes.

  • Approved Claim means a Claim Form submitted by a Settlement Class Member (defined below) that: (a) is submitted timely and in accordance with the directions on the Claim Form and the provisions of the Settlement Agreement; (b) is fully and truthfully completed by a Settlement Class Member with all of the information requested in the Claim Form; (c) is signed by the Settlement Class Member, physically or electronically; and (d) is approved by the Settlement Administrator pursuant to the provisions of this Agreement.