Overdraft Forgiveness Amount definition

Overdraft Forgiveness Amount means the Twenty-Seven Million and 00/100 Dollars ($27,000,000.00) that TD Bank, without admission of liability, agrees to provide as consideration for this Settlement in the form of reductions to the outstanding balances of Members of the Settlement Classes whose accounts were closed with amounts owed to TD Bank, as more specifically described in paragraph 141 of this Agreement.

Overdraft Forgiveness Amount means the total amount, up to a maximum of $500,000, that Bangor, without admission of liability, agrees to provide as consideration for this Settlement in the form of reductions to the outstanding Retry Fees and/or APPSN Fees owed to Bangor, as identified by Ankura based on review and analysis of reasonably accessible Bangor transactional data and information, for Settlement Class Members with Charged-Off Accounts.

Overdraft Forgiveness Amount means the sum of Five Million Dollars ($5,000,000.00), which is the total amount that Defendant, without admission of liability, agrees to forgive as consideration for this Settlement through reductions to the outstanding balances of Participating Settlement Class Members with Charged-Off Accounts, as more specifically described in paragraphs 63 and 103 of this Agreement. This Overdraft Forgiveness Amount shall serve to reduce the amounts that Participating Settlement Class Members owe to Defendant for Overdraft Fees, NSF Fees, and overdrafts Defendant paid but for which Defendant was not reimbursed.

Examples of Overdraft Forgiveness Amount in a sentence

• The Overdraft Forgiveness Amount allocated to this Class will be distributed in such a manner as to reduce the amount owed to TD Bank to below $75.00 for the maximum number of Accounts possible, as described below.

• TD Bank shall inform ChexSystems to remove any reporting for each Account that has its amount owed to TD Bank reduced to below $75.00 as a result of applying the Overdraft Forgiveness Amount.

• The portion of the Overdraft Forgiveness Amount allocated to each Account shall be the amount necessary to reduce the balance owed to TD Bank to $74.99.

• Only Members of the TD Available Consumer Class, Usury Class and TD Available Balance Business Class are eligible to receive distributions from the Overdraft Forgiveness Amount.

• For each Settlement Class, the Overdraft Forgiveness Amount shall be applied to such Accounts (excluding Accounts belonging to any Settlement Class Member who has timely opted out of the Settlement) in ascending order based on the amount owed to TD Bank, starting at $75.00, and continuing until the Overdraft Forgiveness Amount allocated to each Class is exhausted.

• The 1977 Act and the Question of Nudity Although lawmaking is often derided as occurring at a glacial pace, few elected officials even minimally concerned with self-preservation will drag their feet in order to protect the interests of child pornographers.

• The Overdraft Forgiveness Amount shall be allocated to the six Settlement Classes as follows: Settlement Class Overdraft Forgiveness Amount TD Available Balance Consumer Class $ 21,600,000 South Financial Class $ 000.00 Regulation E Class $ 000.00 Usury Class $ 2,700,000 Uber/Lyft Class $ 000.00 TD Available Balance Business Class $ 2,700,000 Total $ 27,000,000 XI.

• Those Settlement Class Members who, according to the data provided to Plaintiffs’ expert, were assessed one or more Eligible TD Available Balance Business Overdraft Charges and whose Business Accounts were closed with $75.00 or more owed to TD Bank for Overdraft Fees, other TD Bank fees, and overdrafts the Bank paid but for which the Bank was not reimbursed, may be entitled to be credited with a portion of the Overdraft Forgiveness Amount.

• Those Settlement Class Members who, according to the data provided to Plaintiffs’ expert, were assessed one or more Eligible TD Available Balance Consumer Overdraft Fees and whose Personal Accounts were closed with $75.00 or more owed to TD Bank for Overdraft Fees, other TD Bank fees, and overdrafts the Bank paid but for which the Bank was not reimbursed, may be entitled to be credited with a portion of the Overdraft Forgiveness Amount.

• Calculation of Distributions from Net Settlement Fund and Overdraft Forgiveness Amount 142.

More Definitions of Overdraft Forgiveness Amount

Overdraft Forgiveness Amount means the sum of Ten Million Two-Hundred Fifty Thousand Dollars ($10,250,000.00), which is the total amount that Defendant, without admission of liability, agrees to forgive as consideration for this Settlement through reductions to the outstanding balances of Participating Settlement Class Members with Charged-Off Accounts, as more specifically described in paragraphs 62 and 99 of this Agreement. This Overdraft Forgiveness Amount shall serve to reduce the amounts that Participating Settlement Class Members owe to Defendant for Overdraft Fees and overdrafts Defendant paid but for which Defendant was not reimbursed.