Remainder Funds definition

Remainder Funds means the funds, if any, that remain in the Settlement Fund after settlement payments for all Valid Claims (as defined below). The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to one or more court-approved charitable organizations as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipients of the cy pres distribution.
Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for Settlement Payments to Settlement Class Members. Often in class actions settlements, some number of class members submitting valid claims and who are then issued a settlement check fail to cash and/or deposit their settlement payments. The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to one or more court-approved charitable organizations as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipient(s) of the cy pres distribution.
Remainder Funds means the funds, if any, that remain in the Settlement Fund after settlement payments for all Valid Claims (as defined below). The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for cashing and/or depositing payments has expired will be Remainder Funds. The Remainder Funds will be sent to the unclaimed property fund for the state of jurisdiction of which that Class Member resides.

Examples of Remainder Funds in a sentence

  • Upon death of the Beneficiary, any remaining funds will be distributed according to Section 12 Distributions of the Remainder Funds Upon the Death of the Beneficiary of this Agreement.

  • Any funds that remain after the distribution and reissuance of all payments from the Settlement Fund, including for settlement checks that are not cashed by the deadline to do so, will be Remainder Funds that shall be distributed to a charitable organization approved of by the Parties and subject to Court approval.

  • The Settlement Administrator shall sum the total of Base Payment Amounts for all Successful Claimants to determine whether there are any Remainder Funds, or whether aggregate Base Payment Amounts exceed Net Proceeds available for distribution to Successful Claimants.

  • For each month, beginning with the second Business Day following the Business Day on which the Lockbox Bank has determined that the Collected Funds exceed the Hurdle Amount for such month (the amount of such excess hereinafter is referred to as the "Remainder Funds"), Lockbox Bank shall remit the Remainder Funds to Borrowers until the end of such month.

  • Langdon to recommend to Common Council R-5-19 A Resolution Terminating City of Menasha Tax Increment District (TID) No. 5, Authorizing City Treasurer to Distribute Excess Increment to Overlying Taxing Districts, and Approving the Distribution of Remainder Funds from TID No. 5 Closure to Strong Neighborhoods Menasha Housing Program (Introduced by Mayor Merkes).


More Definitions of Remainder Funds

Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund authorized by this Settlement Agreement have been paid and Approved Claims to Participating Settlement Class Members have been made. The funds remaining in the Settlement Fund after completion of these disbursements and after the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to a charitable organization, which must be jointly proposed by the parties and approved by the Court, as a cy pres distribution.
Remainder Funds means the amount remaining in the Settlement Fund, if any, after subtracting Class Member Base Payment Amounts, Administrative Expenses, and the Attorneys’ Fees and Litigation Expenses, and Enhancement Payments approved by the Court, before reallocation as required in Section 6.7.
Remainder Funds has the meaning assigned to that term in subsection 2.9.1(b).
Remainder Funds means any funds leftover in the QSF resulting from
Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for settlement payments to Class Members and after a second round of pro rata distributions. The funds remaining in the Settlement Fund after settlement payments have been distributed, after a second round of distributions, and after the time for cashing and/or depositing checks has expired will be Remainder Funds. The Remainder Funds will be sent to Legal Aid of North Carolina as a cy pres distribution.
Remainder Funds means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund provided for in this Settlement Agreement. While it is not anticipated that there will be any residual funds after the pro rata Cash Fund payments are made (which will have the practical effect of “sweeping” all the Net Settlement Funds into pro rata payments for valid claimants), residual funds will be redistributed to the class on a pro rata basis until it is uneconomical to do so. The funds remaining in the Settlement Fund after settlement payments have been distributed and the time for reissuing checks has expired will be Remainder Funds. The Remainder Funds will be sent to one or more Court-approved charitable organization(s) as a cy pres distribution. The Parties will jointly recommend the entity or entities to the Court that will be the recipient(s) of the cy pres distribution.
Remainder Funds means the amount remaining in the Settlement Fund, if any, after subtracting Payment Amounts to Class Members that have been cashed or deposited