Examples of Settlement Administration Account in a sentence
The Settlement Administrator shall establish the Settlement Administration Account.
Prior to or upon entry of the Preliminary Approval Order, Class Counsel shall cause to be established the Settlement Administration Account at a financial institution selected by Class Counsel.
Upon deposit in the Escrow Account of the Settlement Consideration, the Escrow 24 Agent may transfer two hundred fifty thousand dollars ($250,000.00) from the Escrow Account to 25 the Settlement Administration Account in order to pay reasonable and necessary notice and 26 administration costs related to the Partial Settlement.
One-hundred and twenty (120) days after the Notice Date, the Settlement Administrator shall make final determinations on all Claims and provide notice to the Parties (the “Claims Determination Notice”), including an accounting of all Claims to be paid and instructions to Hometrust to fund the Settlement Administration Account.
Ninety (90) days after the Notice Date, the Settlement Administrator shall make final determinations on all Claims and provide notice to the Parties (the “Claims Determination Notice”), including an accounting of all Claims to be paid and instructions to BRSI to fund the Settlement Administration Account.
Upon BRSI’s funding of the Settlement Administration Account, the Settlement Administrator shall promptly make payment to Claimants.
Ninety (90) days after the Notice Date, the Settlement Administrator shall make final determinations on all Claims and provide notice to the Parties (the “Claims Determination Notice”), including an accounting of all Claims to be paid and instructions to XxXxxxx RentCorp to fund the Settlement Administration Account.
In the event of a termination as provided therein, this Agreement shall be considered null and void; all of BRSI’s obligations under the Agreement shall cease to be of any force and effect, the amounts in the Settlement Administration Account, if any, shall be returned to BRSI; and the Parties shall return to the status quo ante in the Action as if the Parties had not entered into this Agreement.
Upon TransPerfect’s funding of the Settlement Administration Account, the Settlement Administrator shall promptly make payment to Claimants.
BRSI shall then cause funds to be deposited into the Settlement Administration Account for the payment of Claims within forty-five (45) days of receiving the Claims Determination Notice.