Qualified Settlement Fund definition

Qualified Settlement Fund or “Settlement Fund” means the interest-bearing, settlement fund account to be established and maintained by the Escrow Agent in accordance with Article 5 herein and referred to as the Qualified Settlement Fund (within the meaning of Treas. Reg. § 1.468B-1).

Qualified Settlement Fund or “Settlement Fund” means the interest-bearing settlement fund account to be established and maintained by the Escrow Agent in accordance with Article 5 herein and referred to as the Qualified Settlement Fund (within the meaning of Treas. Reg. § 1.468B-1).

Qualified Settlement Fund or “QSF” means the account established and maintained in accordance with Treasury Regulation § 1.468B-1 et seq. by the Settlement Administrator for the Gross Settlement Amount paid by Defendant. The QSF will be controlled by the Settlement Administrator subject to the terms of this Agreement and the Court’s Preliminary Approval Order and Final Approval Order. Interest, if any, earned on the QSF will become part of the Gross Settlement Amount.

Examples of Qualified Settlement Fund in a sentence

• Except for costs incurred by 23andMe fulfilling its obligations as set forth in this section, the cost of notice to the Settlement Class in accordance with the Preliminary Approval Order, together with the Notice and Claims Administration Costs, shall be paid from the Qualified Settlement Fund.

• Subject to approval of the Settlement by the Superior Court, the Company agrees to deposit the Gross Settlement Amount into a Qualified Settlement Fund (“QSF”) set up by the Settlement Administrator for purposes of processing the Settlement and paying the Service Award, the Settlement Administration Expenses Award, the Attorney’s Fees and Costs Award, the Reserve Fund, and the Settlement Awards.

• The Administrator will establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B- 1.

• The cost of the measures in this Section will not be paid from the Qualified Settlement Fund.

• By funding the Qualified Settlement Fund, the Company will fully discharge its financial obligations under this Agreement and shall have no further financial obligations under this Agreement, whether to the Settlement Class Members, to Plaintiff, to Class Counsel, to the Settlement Administrator, to the Reserve Fund, or otherwise (again with the exception that the Company agrees to pay its share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes).

More Definitions of Qualified Settlement Fund

Qualified Settlement Fund means a fund within the meaning of Treasury Regulations § 1.468B-1.

Qualified Settlement Fund means a fund within the meaning of Treasury Regulation § 1.468B-1.

Qualified Settlement Fund or “QSF” shall mean a fund satisfying the requirements of Section 468B of the Internal Revenue Code of 1986, as amended, and the regulations thereunder and, for purposes of this Agreement, established as the vehicle to hold the Settlement Fund.

Qualified Settlement Fund means a qualified 11 settlement fund established pursuant to U.S. Treasury Regulation section 468B-1, 29 C.F.R. § 468B-1.

Qualified Settlement Fund or “QSF” means a qualified settlement fund as defined by Treasury Regulation Section 1.468B-1 et seq.

Qualified Settlement Fund means an account established by the Settlement Administrator that meets the requirements of 26 C.F.R. § 1.468B-1(c).

Qualified Settlement Fund is defined in Section 10.