Gross Fund definition

Gross Fund means the principal amount of $1,175,000.00, which is the
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Gross Fund means the $538,125.00 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement. No amount of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Class Counsel’s attorney fees, litigation costs, settlement administration costs, and a service award to the Class Representative. The Net Fund shall be distributed pro rata to Settlement Class Members who timely return valid claim forms (“Settlement Class Participants”). Any Settlement Class Member who does not timely return a valid claim form shall not be entitled to a payment. Because of this method of allocation to Settlement Class Participants, there will be no unclaimed funds in the Settlement.
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Gross Fund means the $151,000 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement, unless the number of the Settlement Class Members increases over the current estimate of 151, in which case the Gross Fund shall be increased on a pro rata basis (i.e., $1,000 per person added over the current estimate of $151,000]). The Gross Fund shall be decreased on a pro rata basis for each Settlement Class Member that timely and validly requests to be excluded from the Settlement Class (i.e., $1,000 less for each Settlement Class Member that timely and validly requests to be excluded from the settlement). Other than any reductions in the Gross Fund based on timely and valid requests for exclusion, none of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Settlement Class Counsel’s attorney fees and costs; the Settlement Administrator’s costs; and the Settlement Class Representative’s Service Award.
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Examples of Gross Fund in a sentence

  • In no event shall there be any distributions or payments from the Gross Fund Amount to Class Counsel, any Class Representative, any Class Member, the LWDA, or any other person or entity until after the Effective Date.

  • The “Net Fund Amount” means the Gross Fund Amount, less all court-approved attorneys’ fees and expenses, service awards, and California Labor Code Private Attorneys General Act (“PAGA”) payments to the California Labor and Workforce Development Agency (“LWDA”).

  • Upon the Effective Date, payment of the Gross Fund Amount shall be non-reversionary.

  • Xxxxxx’x payment of the Gross Fund Amount shall be made on a non-reversionary basis.

  • The Parties shall request that the Court approve that a total of Ten Thousand Dollars ($10,000) of the Gross Fund Amount shall be designated as civil penalties under the California Labor Code Private Attorneys General Act (“PAGA”), Seven Thousand Five Hundred Dollars ($7,500) of which shall be paid to the LWDA, with the remaining Two Thousand Five Hundred Dollars ($2,500) being distributed to the Class as part of the Net Fund Amount.

  • Subject to Court approval, the Service Award shall be paid from the Gross Fund, in addition to the Settlement Class Representative’s settlement award.

  • As required under this Agreement, Defendant shall transfer the required portions of the Gross Fund to a Qualified Settlement Fund (“QSF”), to be held as a separate trust as described in Treasury Regulation §1.468B-1, 26 C.F.R. §1.468B-1.

  • Within thirty (30) days after the Approval Order has become a final, non-appealable order, Defendant will pay the entirety of the Gross Fund to the Settlement Fund.

  • The Gross Fund shall constitute a “qualified settlement fund” (“QSF”) within the meaning of Treasury Regulation Section 1.468B-1 promulgated under Section 468B of the Internal Revenue Code of 1986 as amended.

  • Within fourteen (14) days after receipt of the Gross Fund, the Settlement Claims Administrator shall pay Plaintiff’s Counsel by wire transfer such amount of attorneys’ fees, costs and litigation expenses as has been approved and ordered by the Court, and shall pay via First Class U.S Mail the Court-approved General Release Payment to the Named Plaintiff.


More Definitions of Gross Fund

Gross Fund means three million three hundred fifty thousand dollars and zero cents ($3,350,000.00). The Gross Fund provides payments to Class Members (defined below) to resolve their alleged New York City Human Rights Law claims; Service Awards to Named Plaintiffs Xxxxxxxx, Xxxxxxx, Xxxxxxx and Xxxxx; and Attorneys’ Fees and Costs.
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Gross Fund means the maximum payment by Defendant pursuant to this Stipulation of One Million Two Hundred and Fifty Thousand Dollars and zero cents ($1,250,000.00) to fund the QSF. The Gross Fund shall include and be used to satisfy: (1) all Settlement Shares claimed by Qualified Collective Members; (2) any general release awards approved for Named Plaintiffs; (3) all Plaintiffs’ Counsel’s Attorneys’ fees and costs approved by the Court; (4) the reasonable fees and expenses of the Settlement Administrator; (5) the PAGA payments to the LWDA and the California PAGA Settlement Members approved by the Court; and (6) if any reversion balance remains after the payment of items (1)-(5), AUS’s share of payroll taxes for the wage portion of the Gross Fund claimed by Named Plaintiffs and Qualified Collective Members. If the reversion is insufficient to cover the amount of AUS’s share of payroll taxes, AUS shall pay the additional amount to cover its payroll taxes to the QSF. With the exception of Defendant’s share of payroll taxes, Defendant and/or the Released Parties shall not pay or be required to pay any amount in connection with this Settlement above and beyond the Gross Fund. Any amount remaining in the Gross Fund after payment of items (1)-(6) above will revert to Defendant pursuant to Section IX.4 below, except
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Related to Gross Fund

  • Excess Funds shall have the meaning set forth in Section 2(l) of this Agreement.

  • Gross income means the same as it does for income tax purposes, even if the income is not actually taxable, such as interest on tax-free bonds. Examples include: compensation for services, income from business, gains from property dealings, interest, rents, dividends, pensions, IRA distributions, social security, distributive share of partnership gross income, and alimony, but not child support.

  • Program fund means the program fund established under section 12D.4.

  • Surplus Fund means the fund by that name established pursuant to the Second Resolution.

  • Gross Revenues means all amounts actually collected as rents or other charges for the use and occupancy of the Properties, but shall exclude interest and other investment income of Owner and proceeds received by Owner for a sale, exchange, condemnation, eminent domain taking, casualty or other disposition of assets of Owner.

  • Gross Rooms Revenue means all revenues derived from the sale or rental of Guest Rooms (both transient and permanent) of the Hotel, including revenue derived from the redemption of points or rewards under the loyalty programs in which the Hotel participates, amounts attributable to breakfast (where the guest room rate includes breakfast), Mandatory Guest Fees, late cancellation fees, and guaranteed no- show revenue and credit transactions, whether or not collected, at the actual rates charged, less allowances for any Guest Room rebates and overcharges, and will not include taxes collected directly from patrons or guests. Group booking rebates, if any, paid by you or on your behalf to third-party groups for group stays must be included in, and not deducted from, the calculation of Gross Rooms Revenue.

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • gross tonnage means the gross tonnage calculated in accordance with the tonnage measurement regulations contained in Annex I to the International Convention on Tonnage Measurement of Ships, 1969 or any successor Convention.

  • Gross Revenue means:

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • Investment Fund has the same meaning as in National Instrument 81-106 Investment Fund Continuous Disclosure;

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Gross Income from Operations means, during any period, all sustainable income as reported on the financial statements delivered by Borrower in accordance with this Agreement, computed in accordance with GAAP, derived from the ownership and operation of the Property from whatever source during such period, including (i) Rents from Tenants that are in occupancy, open for business and paying full contractual rent without right of offset or credit, (ii) utility charges, (iii) escalations, (iv) forfeited security deposits, (v) interest on credit accounts, (vi) service fees or charges, (vii) license fees, (viii) parking fees, (ix) rent concessions or credits, (x) income from vending machines, (xi) business interruption or other loss of income or rental insurance proceeds, (xii) other required pass-throughs and (xiii) interest on Reserve Funds, if any, but excluding (i) Rents from month-to-month Tenants, Tenants during a free-rent period, or Tenants that are included in any Bankruptcy Action, (ii) sales, use and occupancy or other taxes on receipts required to be accounted for by Borrower to any Governmental Authority, (iii) refunds and uncollectible accounts, (iv) sales of furniture, fixtures and equipment, (v) Insurance Proceeds (other than business interruption or other loss of income or rental insurance), (vi) Awards, (vii) unforfeited security deposits, (viii) utility and other similar deposits and (ix) any disbursements to Borrower from the Reserve Funds, if any. Gross income shall not be diminished as a result of the Security Instrument or the creation of any intervening estate or interest in the Property or any part thereof.

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • Gross receipts means the total revenue derived from sales, work done, or service rendered.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Gross Sales Proceeds with respect to each sale of Shares shall be the Gross Sales Price multiplied by the number of Shares sold;

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Gross estate means the gross estate, for federal estate tax purposes.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Investment Account As defined in Section 3.12(a).

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.