Remainder Funds definition
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 means any funds that remain in the Settlement Fund after all deductions from the Settlement Fund and for settlement payments to 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.
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.
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.
To the extent any monies remain in the Remainder Fund more than one hundred and fifty (150) days after the distribution of Settlement payments to the Participating Settlement Class Members, or thirty (30) days after all reissued Settlement Checks are no longer negotiable, whichever occurs later or as otherwise agreed to by the Parties, the Remainder Funds will be sent to Legal Aid of North Carolina as a cy pres distribution.
Remainder Funds shall be distributed by the Settlement Administrator to such charitable organizations approved by the Court.
Purchaser shall manage such Remainder Funds pursuant to the Management Agreement, under which, subject to the terms and conditions thereof, from and after the First Closing, Purchaser shall receive all the benefits and bear all the costs, liabilities and burdens with respect to such Remainder Funds.
More Definitions of Remainder Funds
Remainder Funds means any funds that remain in the Settlement Fund after all payments are made on Approved Claims from the Net Settlement Fund and after a second round of pro rata distributions are completed. The funds remaining in the Settlement Fund after these deductions are made, and after 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 authorized by this Settlement Agreement have been paid and Approved Claims to Participating Settlement Class Members have been made. The Remainder Funds will be sent to the Non-Profit Residual Recipient 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. 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 the Massachusetts Local Consumer Aid Fund, if approved by the Courts, and, if not, one or more other Court-approved charitable organization(s) as a cy pres distribution. If the Courts do not approve the Massachusetts Local Consumer Aid Fund, Defendant shall select the alternative charitable organization or organizations to be recipient(s) of any cy pres distribution, and, if such selection is approved by Settlement Class Counsel (which approval shall not be unreasonably withheld), the Parties will jointly recommend the entity or entities to the Courts as recipient(s) of any cy pres distribution. The parties shall provide notice to the Massachusetts IOLTA Committee of any cy pres distribution in order to provide it an opportunity to also apply to receive any cy pres distribution.
Remainder Funds means the funds, if any, that remain in the Settlement Fund after payment of costs of Financial Account Monitoring, CAFA Notice, Administration and Notice Costs, Fee Award and Expenses, claims for Reimbursement of Monetary Losses and Lost Time, California Statutory Payments, and Alternative Pro Rata Cash Payments. The funds remaining in the Settlement Fund after the above payments have been made and the time for Settlement Class Members to cash and/or deposit 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 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 the funds, if any, that remain in the Settlement Fund after payment of costs of Financial Account Monitoring, CAFANotice, Administration and Notice Costs, Fee Award and Expenses, Service Awards, claims for reimbursement of documented Monetary Losses, California Statutory Payments, and Alternative Pro Rata Cash Payments, as described below. The funds remaining in the Settlement Fund after the above payments have been made and the time for Settlement Class Members to cash and/or deposit 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 that any cy pres distribution be made to the University of Chicago Computer Science SAND Lab (“SAND Lab”) for the specific purpose of data privacy and security research.
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, Approved Claims to Participating Settlement Class Members have been made, and after a second round of pro rata distributions to Participating Settlement Class Members who submitted Approved Claims has 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 Legal Aid of North Carolina as a cy pres distribution.