Initial Claim Amount definition

Initial Claim Amount means the amount a Settlement Class Member claims on a Claim Form that is timely, valid, and approved by the Settlement Administrator. The value basis of the Initial Claim Amount is described in Section IV. The Initial Claim Amount is subject to pro rata increase or decrease, depending on the value of all approved Claims submitted, pursuant to Section IV.
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Initial Claim Amount means the amount a Settlement Class Member claims on a Claim Form that is timely, valid, and approved by the Settlement Administrator. The value basis of the Initial Claim Amount is described in Section IV.B of this Stipulation. Pursuant to Section IV.B.2 of this stipulation, the Initial Claim Amount is subject to pro rata increase or decrease, depending on the value of all approved Claims submitted.
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Initial Claim Amount shall be $13,848,807.74.
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Examples of Initial Claim Amount in a sentence

  • If the total amount of the timely, valid, and approved Eligible Claims submitted by Settlement Class Members exceeds the Net Settlement Fund, considering any fees, payments, and costs set forth in the Agreement that must also be paid from the Settlement Fund, each eligible Settlement Class Member’s Initial Claim Amount shall be proportionately reduced on a pro rata basis, such that the aggregate value of the cash payments does not exceed the Settlement Fund balance.

  • If the total of the timely, valid and approved Claims submitted by Class Members exceeds the Settlement Fund Balance, each eligible Class Member’s Initial Claim Amount shall be reduced on a pro rata basis, such that the aggregate value of the cash payments pursuant to valid Claims does not exceed the Settlement Fund Balance.

  • If the total of the timely, valid and approved Claims submitted by Class Members exceeds the available relief, minus any fees, payments, and costs set forth in this Agreement, each eligible Class Member’s Initial Claim Amount shall be reduced on a pro rata basis.

  • Options to address risks can include avoiding risk, taking risk in order to pursue an opportunity, eliminating the risk source, changing the likelihood or consequences, sharing the risk, or retaining risk by informed decision.

  • Any value remaining in theResidual Fund shall increase eligible Settlement Class Members’ relief on a pro rata basis such that Settlement Class Members are entitled to receive an increased payment constituting up to one hundred percent (100%) of the Eligible Settlement Class Member’s Initial Claim Amount, consistent with his or her election on the Claim Form.

  • If the total amount of the timely, valid, and approved Claims submitted by Settlement Class Members exceeds the available relief, considering any fees, payments, and costs set forth in this Agreement that must also be paid from the Settlement Fund, Venus shall contribute up to an additional Seventy-Five Thousand Dollars and No Cents ($75,000.00) to the Settlement Fund, in accordance with Section 2.33, to cover Settlement Class Members’ Initial Claim Amount.

  • See § 4.4(a)(ii).In the event that the Settlement Fund is insufficient to make the Initial Claim Amount payments to each valid Claimant after the payment of all valid Claims, Notice and Administration costs, Attorneys’ Fees and Expenses, Service Awards, and any other claims, costs, or fees specified by the Settlement Agreement, the amount due to each valid Claimant shall be proportionally reduced on a pro rata basis.

  • If the total of the timely, valid and approved Claims submitted by Class Members is less than the available relief, minus any fees, payments, and costs set forth in this Agreement, then the Initial Claim Amount award to each eligible Class Member shall be increased on a pro rata basis, with a maximum increase of up to, but not more than, $100.00, not including any applicable sales tax.

  • Any value remaining in the Residual Fund shall increase eligible Settlement Class Members’ relief on a pro rata basis such that Settlement Class Members are entitled to receive an increased payment constituting up to one hundred percent (100%) of the Eligible Settlement Class Member’s Initial Claim Amount.

  • In the event that the Settlement Fund is insufficient to make the Initial Claim Amount payments to each valid Claimant after the payment of all valid Claims, Notice and Administration costs, and any other claims, costs, or fees specified by the Settlement Agreement, the Voucher amount due to each valid Claimant shall be proportionally reduced on a pro rata basis.


More Definitions of Initial Claim Amount

Initial Claim Amount means the amount a Settlement Class Member
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Initial Claim Amount means the amount a Settlement Class Member claims on a Claim Form that is timely, valid, and approved by the Settlement Administrator. The
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Initial Claim Amount means the amount paid in respect of any insurance claims relating to business interruption insurance filed in respect of periods commencing after the Closing Date. "Cyprus Adjusted Claim Amount" means the Cyprus Initial Claim Amount increased or decreased, as the case may be, by any adjustments made to the Cyprus Initial Claim Amount in the course of settling the claim for business interruption insurance, including any adjustments made to the overall amount of the insurance payment that specifically relate to a change or correction in the underlying claim calculation. "Buyer Adjusted Claim Amount" means the Buyer Initial Claim Amount increased or decreased, as the case may be, by any adjustments made to the Buyer Initial Claim Amount in the course of settling the claim for business interruption insurance, including any adjustments made to the overall amount of the insurance payment that specifically relate to a change or correction in the underlying claim calculation. "Cyprus Deduction" means an amount equal to any "off the top" adjustment made by the insurer in settlement of the business interruption claims multiplied by a fraction the numerator of which is the Cyprus Adjusted Claim Amount and the denominator of which is the sum of the Cyprus Adjusted Claim Amount and the Buyer Adjusted Claim Amount. "Buyer Deduction" means the sum of the amount of any deductible applied in respect of any business interruption insurance, an amount equal to the insurance that would have been paid in respect of the 15 day exclusion period and an amount equal to any "off the top" adjustment made by the insurer in settlement of the business interruption claims multiplied by a fraction the numerator of which is the Buyer Adjusted Claim Amount and the denominator of which is the sum of the Cyprus Adjusted Claim Amount and the Buyer Adjusted Claim Amount. After the date hereof, whether prior to or after the Closing, Cyprus Amax and the Buyer shall cooperate and consult with each other with respect to claims under business insurance policies and neither shall make any submission or consent to any settlement without the consent of the other, and Buyer shall be entitled to participate in the business interruption claim submission process to the extent reasonably practicable; provided, however, that if either Buyer or Cyprus Amax reasonably determines -------- ------- that the other is not pursuing such claim in good faith, then after 30 days notice to the other party, the party giv...
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Related to Initial Claim Amount

  • Claim Amount means the amount calculated in accordance with Section 6.2 of this Policy.

  • Deficiency Claim Amount has the meaning set forth in Section 5.5(a).

  • Expected Claim Notice means a notice that, as a result of a legal proceeding instituted by or written claim made by a third party, an Indemnified Party reasonably expects to incur Damages for which it is entitled to indemnification under Article VI.

  • Deficiency Claim Date means, with respect to any Distribution Date, the fourth Business Day immediately preceding such Distribution Date.

  • Unresolved Claims has the meaning set forth in Section 7.6(c).

  • Unresolved Claim means a Claim, which at the relevant time, in whole or in part: (a) has not been Finally Determined to be a Proven Claim in accordance with the Amended Claims Procedure Order and this Plan; (b) is validly disputed in accordance with the Amended Claims Procedure Order; and/or (c) remains subject to review and for which a Notice of Allowance or Notice of Revision or Disallowance (each as defined in the Amended Claims Procedure Order) has not been issued to the Creditor in accordance with the Amended Claims Procedure Order as at the date of this Plan, in each of the foregoing clauses, including both as to proof and/or quantum;

  • Claim Period means the period of time during which a Settlement Class Member must submit a Claim Form to be eligible to receive a Cash Benefit or Billing Credit Option as part of the Settlement. The Claim Period shall commence not later than thirty (30) days after the Preliminary Approval Date, as defined herein, and shall conclude not more than ninety (90) days after it commences.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Closing Date Cash has the meaning specified in Section 3.4(a).

  • Indemnity Escrow Amount means $3,000,000.

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Initial Bankruptcy Loss Coverage Amount $226,715.

  • Disputed Amount means an amount which Customer disputes. A Disputed Amount may relate to the whole or part of an invoice(s).

  • Closing Cash Payment has the meaning set forth in Section 2.06(a).

  • Class Counsel Litigation Expenses Payment mean the amounts allocated to Class Counsel for reimbursement of reasonable attorneys’ fees and expenses, respectively, incurred to prosecute the Action.

  • Claim Expenses means reasonable documented attorneys’ fees and all other reasonable documented out-of-pocket costs, expenses and obligations (including experts’ fees, travel expenses, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim, including any Action relating to a claim for indemnification or advancement brought by an Indemnified Party as contemplated in Section 7.5.

  • Closing Cash Amount shall have the meaning set forth in Section 2.8(b).

  • Post-Closing Straddle Period means the portion of a Straddle Period beginning the day after the Closing Date.

  • Adjustment Escrow Amount means $1,000,000.

  • Claim Objection Deadline means the first Business Day that is 180 days after the Effective Date, as may be extended by order of the Bankruptcy Court.

  • Earn-Out Amount has the meaning set forth in Section 2.07(a).

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Gross Settlement Amount means $240,000 which is the total amount Standard agrees to pay under the Settlement, except as provided in Paragraph 8 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.