Payment of Settlement Amount. (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.
(2) Payment of the Settlement Amount shall be made by wire transfer. At least thirty (30) days prior to the Settlement Amount becoming due, Siskinds LLP will provide, in writing, the following information necessary to complete the wire transfers: name of bank, address of bank, ABA number, SWIFT number, name of beneficiary, beneficiary’s bank account number, beneficiary’s address, and bank contact details.
(3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees.
(4) The Settlement Amount shall be all-inclusive of all amounts, including, without limitation, interest, costs, Class Counsel Fees and Class Counsel Disbursements.
(5) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement, the Proceedings, the Second Ontario Action, or any Other Actions.
(6) Once a Claims Administrator has been appointed, Siskinds LLP shall transfer control of the Trust Account to the Claims Administrator.
(7) Siskinds LLP and the Claims Administrator shall maintain the Trust Account as provided for in this Settlement Agreement.
(8) Siskinds LLP and the Claims Administrator shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.
Payment of Settlement Amount. (1) The Defendants shall pay or cause to be paid the Settlement Amount to Siskinds LLP, in trust, in full and final settlement of the Action and the Released Claims within thirty (30) days of the execution of the Agreement. Siskinds shall hold the Settlement Amount in the Escrow Account.
(2) Siskinds may pay Administration Expenses as and when they are incurred from the Escrow Settlement Funds while in control of the Escrow Account.
(3) The Settlement Amount and other valuable consideration set forth in the Agreement shall be provided in full satisfaction of the Released Claims against the Releasees.
(4) Neither the Defendants nor the Defendants’ insurers or re-insurers shall have any obligation to pay any further amount to the Plaintiffs, the Class Members or Class Counsel with respect to this Agreement, the Action or the Released Claims for any reason whatsoever, including any amount for damages, interest, legal fees (including Class Counsel Fees), disbursements, taxes of any kind, costs and expenses relating in any way to the Action, the Released Claims, the Settlement, and Administration Expenses.
(5) Siskinds shall account to the Defendants and the Administrator for all payments made from the Escrow Settlement Funds prior to the transfer of the Escrow Account to the Administrator. After the transfer of the Escrow Account to the Administrator, the Administrator shall provide an accounting to the Parties every three (3) months for all payments made from the Escrow Settlement Funds by the Administrator. In the event this Agreement is terminated, Siskinds or the Administrator, whichever then has control of the Escrow Account, shall deliver an accounting to the Parties for all payments made from the Escrow Settlement Funds no later than ten (10) days after the termination.
(6) Neither Siskinds nor the Administrator shall pay out any of Escrow Settlement Funds except in accordance with this Agreement.
(7) Any dispute concerning the entitlement to or quantum of expenses incurred in the publication and dissemination of the First Notice or the Second Notice, or Administration Expenses paid by Siskinds or the Administrator subsequently, shall be dealt with by a motion to the Court on notice to the Parties.
Payment of Settlement Amount. 3.1 The Hartford Parties shall irrevocably pay the Settlement Amount to the Trust within thirty (30) days of the later of (a) the Approval Date or (b) the date the Confirmation Order becomes a Final Order. The Hartford Parties shall have the exclusive right to waive the occurrence of either or both of the payment-triggering conditions set forth in the immediately preceding sentence, in which event the Hartford Parties shall irrevocably make such payment within thirty (30) days after providing notice of such waiver in writing to the other Parties. If payment is made in accordance with the immediately preceding sentence, then the Hartford Parties shall pay the Settlement Amount to Congoleum, which shall hold such payment until the earlier of when the Plan is confirmed by a Final Order or the dismissal or conversion of the Bankruptcy Case, and such Settlement Amount shall then be used only in connection with the payment of Asbestos-Released Claims and/or to pay other amounts that would be payable by the Trust pursuant to the Plan.
3.2 The Settlement Amount is the full purchase price of the Subject Policies. Effective upon the Approval Date, but subject to the Hartford Parties’ payment of the Settlement Amount, the Congoleum Parties shall be deemed to have sold to the Hartford Parties and shall deem the Hartford Parties to own, the Subject Policies free and clear of all Interests of any Person. Effective upon the Approval Date, but subject to the Hartford Parties’ payment of the Settlement Amount, the Hartford-Related Parties shall have no further obligation under the Subject Policies for any Claims, including Asbestos-Released Claims, Direct-Action Claims or Extra-Contractual Claims.
3.3 The Hartford Parties are not acting as volunteers in paying the Settlement Amount and the Hartford Parties’ payment of the Settlement Amount reflects potential liabilities and obligations to the Congoleum-Related Parties for amounts one or more of them allegedly is obligated to pay on account of certain Claims.
3.4 The Hartford-Related Parties shall not seek, or assign or transfer any right to seek, reimbursement from any Person, including the Congoleum-Related Parties, of the Settlement Amount or any portion thereof, whether by way of a Claim for contribution, subrogation, indemnification, retrospective premiums, deductibles, or self-insured retentions, other than from the Hartford Parties’ reinsurers in their capacity as reinsurers of the Hartford Parties. Notwithstanding t...
Payment of Settlement Amount. (1) Within ten (10) days of the orders by the Courts approving the notices described in Section 11.1(1) and certifying or authorizing the Proceedings for settlement purposes, the Settling Defendants shall pay the Settlement Amount to Class Counsel, for deposit into the Trust Account.
(2) Payment of the Settlement Amount shall be made by wire transfer. At least thirty (30) days prior to the Settlement Amount becoming due, Class Counsel will provide, in writing, the following information necessary to complete the wire transfers: name of bank, address of bank, ABA number, SWIFT number, name of beneficiary, beneficiary’s bank account number, beneficiary’s address, and bank contact details.
(3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees.
(4) The Settlement Amount shall be all-inclusive of all amounts, including interest and costs.
(5) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings, including, but not limited to, legal fees or costs of notice.
(6) Class Counsel shall maintain the Trust Account as provided for in this Settlement Agreement.
(7) Class Counsel shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.
Payment of Settlement Amount. Any Settlement Amount due upon termination of this Agreement shall be paid in immediately available funds within two business days after the Liquidating Party terminates this Agreement. However, if this Agreement provides for more than one Commodity Transaction, or if Settlement Amounts are due under other agreements terminated by the Liquidating Party, the Settlement Amounts due to each party for such Commodity Transactions and/or agreements shall be aggregated. The party owing the net amount after such aggregation shall pay such net amount to the other party in immediately available funds within two business days after the date on which the Liquidating Party terminates this Agreement.
Payment of Settlement Amount. At the Closing, the Joint Venture and the L'Auberge Joint Venturer shall pay, or cause to be paid, to the EW Venturer and to Manager an amount (the "Settlement Amount") which shall be equal to the excess of $500,000 over the aggregate of the Settlement Amounts payable to the EW Venturer and Manager so denominated in the Other Agreements; provided, however, that the total amount payable to EWM under all of the Agreements shall be $500,000. The payment of the Settlement Amount shall be made by confirmed wired funds or cashier's check to EWM, as collection agent for the EW Venturer and Manager. The EW Venturer and Manager, by their execution of this Agreement, hereby appoint EWM to act as their agent for purposes of collecting and distributing the Settlement Amount, and EWM, by its execution of this Agreement, hereby accepts such appointment.
Payment of Settlement Amount. (1) Within thirty (30) days of the Execution Date, the Settling Defendants shall pay the Settlement Amount to Class Counsel for deposit into the Trust Account.
(2) The Settlement Amount shall be inclusive of all amounts, including interest and costs, and shall be paid in full satisfaction of the Released Claims against the Releasees.
(3) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount in respect to the Released Claims, for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings.
(4) Ontario Counsel or its duly appointed agent shall maintain the Trust Account as provided for in this Settlement Agreement.
(5) Ontario Counsel or its duly appointed agent shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.
Payment of Settlement Amount.
(1) Within sixty (60) days after the Date of Execution, the Settling Defendants shall cause the Settlement Amount to be paid to BC Counsel for deposit into the Trust Account.
(2) The Settlement Amount shall be deposited into the Trust Account by wire transfer. BC Counsel shall provide the necessary wire transfer information in writing to Counsel for the Settling Defendants on or before the Date of Execution to facilitate compliance with Section 3.1(1) of this Settlement Agreement.
(3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full and final satisfaction of the Proceedings against the Settling Defendants and any and all Released Claims as against all the Releasees.
(4) The Settlement Amount shall be all-inclusive of all amounts, including interest and all costs in respect of the Proceedings. The Releasees shall have no liability and no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of the Proceedings, this Settlement Agreement or the Released Claims.
(5) Once a Claims Administrator has been appointed, BC Counsel may transfer the Settlement Amount and interest earned on the Settlement Amount, less taxes paid and any deductions made in accordance with this Settlement Agreement or an order of the Courts on notice to the Settling Defendants, to the Claims Administrator.
(6) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement.
(7) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account related to this Settlement Agreement, except in accordance with this Settlement Agreement or in accordance with an order of the Courts obtained after notice to the Settling Defendants.
Payment of Settlement Amount. (1) Within sixty (60) days after the date of the Final Order, the Settling Defendants shall pay the Settlement Amount to BC Counsel for deposit into the Trust Account.
(2) The Settlement Amount shall be paid in full satisfaction of the Released Claims against the Releasees.
(3) The Settlement Amount shall be all-inclusive.
(4) The Settling Defendants shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings.
(5) The cost of disseminating the notices, and of preparing the translations, contemplated in Section 12 and Section 15.12 respectively of this Settlement Agreement, shall be paid out of the Settlement Amount once paid.
(6) Once a Claims Administrator has been appointed, BC Counsel may transfer all funds in the Trust Account to the Claims Administrator.
(7) BC Counsel and the Claims Administrator, respectively, shall maintain the Trust Account as provided for in this Settlement Agreement.
(8) While in control of the Trust Account, each of BC Counsel and the Claims Administrator, respectively, shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.
Payment of Settlement Amount. (1) On the Execution Date, Class Counsel shall provide the necessary deposit information or wiring information, whichever is necessary to remit payment, to Counsel for the Settling Defendants. Within forty-five (45) days of the Execution Date, the Settling Defendants shall pay the Settlement Amount to Class Counsel for deposit into the Trust Account.
(2) The Settlement Amount shall be inclusive of all amounts, including interest and costs. The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees.
(3) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount in respect to the Released Claims for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings.
(4) Ontario Counsel or its duly appointed agent shall maintain the Trust Account as provided for in this Settlement Agreement.
(5) Ontario Counsel or its duly appointed agent shall not pay out all or any part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.
