Gross Cash Settlement Fund definition
Gross Cash Settlement Fund means the cash amounts paid or to be paid to the Escrow Agent pursuant to ¶ 4(a), (b), (c) and (e) hereof, which consists of (i) Two Hundred Ninety Million, One Hundred Sixty-Two Thousand, Four Hundred and Twenty-Eight United States Dollars and Forty-Eight Cents (US$290,162,428.48), being the sum of Two Hundred Eighty-Seven Million, Five Hundred Thousand United States Dollars (US$287,500,000) plus Two Million, Six Hundred Sixty-Two Thousand, Four Hundred and Twenty-Eight United States Dollars and Forty-Eight Cents (US$2,662,428.48), paid to the Escrow Agents by Nortel on June 1, 2006, plus (ii) Thirteen Million Five Hundred United States Dollars (US$13,500,000) paid by Nortel’s insurers, plus (iii) Sixty Six Million, Four Hundred Ninety-Five Thousand United States Dollars (US$66,495,000) and the interest thereon transferred to the Escrow Agent by the Nortel I escrow agents for the benefit of the Nortel II Class (pursuant to ¶ 4(c) hereof), plus (iv) one-quarter of any actual recovery as a result of the action referenced in T 4(e) hereof, plus (v) any interest on or other income or gains in respect of the amounts in (i), (ii), (iii), (iv) and (v) earned while such amounts are held by the Escrow Agent.
Examples of Gross Cash Settlement Fund in a sentence
Subject to Paragraph 7.3, Defendants agree to pay fees and costs awarded by the Court to Class Counsel from the Gross Cash Settlement Fund.