Settlement Credit definition

Settlement Credit has the meaning ascribed thereto in Section 7.6(b).
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Settlement Credit means (a) $25 million – constituting the aggregate of the Settlement Amount, unless the Court shall determine when assessing liability against the Barred Person that some portion of the damages claimed which were settled by the Settlement, are different from those for which the Barred Person is liable, then (b) $25 million minus the portion of the Settlement Amount determined by the Court to have been paid with respect to such different damages claimed; provided that the Settlement Credit shall not reduce the total amount of the Settlement Class’ recovery against all Barred Persons by more than the Settlement Amount; and further provided that nothing in this paragraph shall permit the Settlement Class to recover more than their total amount of damages for the Claims asserted in the ERISA Action;
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Settlement Credit means (a) the Settlement Amount ($29,850,000, or $28,850,000 as per paragraph 1.40.1.3) — constituting the maximum possible aggregate of the Settlement Amount, Supplemental Settlement Amount, and Xxxxxx Supplemental Settlement Amount; unless the Court shall determine when assessing liability against the Barred Person that some portion of the damages claimed which were settled by the Settlement, are different from those for which the Barred Person is liable, then (b) the Settlement Amount ($29,850,000, or $28,850,000 as per paragraph 1.40.1.3) minus the portion of the Combined Settlement Amount determined by the Court to have been paid with respect to such different damages claimed; provided that the Settlement Credit shall not reduce the total amount of the Settlement Class’ recovery against all Barred Persons by more than the Settlement Amount; and further provided that nothing in this paragraph shall permit the Settlement Class to recover more than their total amount of damages for the Claims asserted in the ERISA Action;
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Examples of Settlement Credit in a sentence

  • On the End Date, the amount of any such accrued Settlement Credit, including accrued interest, shall constitute the final settlement amount to be paid by the Concessionaire to the City on the End Date; provided, however, that such amount shall be deemed discharged and no such payment shall be required if the End Date is on or after February 29, 2084.

  • Any balance of a Settlement Credit shall bear interest at the Bank Rate from the last Day of its respective Quarter until applied or discharged.

  • On any date, the Concessionaire, at its option, may pay to the City all or any portion of the Settlement Credit, including accrued interest thereon, due to the City.

  • Any such Quarterly Settlement Amount shall be reduced by the application of the amount of any available Settlement Credit and any Quarterly Settlement Amount remaining after such reduction must be paid within 60 Days following the final determination of such Quarterly Settlement Amount in accordance with Section 7.4 or Section 7.15.


More Definitions of Settlement Credit

Settlement Credit means a credit in respect of a settlement with an Excluded Customer.
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Settlement Credit has the meaning ascribed thereto in Section 7.5(b). “Settlement System Revenue Value” means (i) on or prior to December 31, 2011, Initial Revenue Value, and (ii) on any date on or after January 1, 2012, Actual System Operating Revenue for the preceding Reporting Year, divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year.
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Settlement Credit means a credit given in place of a repayment of income tax paid pursuant to the provisions of the benefits code (as defined in section 63 of ITEPA 2003), Class 1A National Insurance contributions, corporation tax or repayment interest thereon and set off in the settlement agreement against any part of the tax, National Insurance or other liabilities the counterparty settled under that settlement agreement;
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Settlement Credit means a specific redeemable credit offered by the Defendant to a Settlement Class Member pursuant to this Settlement and apportioned from the Settlement Value as defined herein;
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Settlement Credit has the meaning ascribed thereto in Section 7.5(b). “Settlement System Revenue Value” means (i) on or prior to , 2011 [Last Day of First Full Reporting Year], Initial Revenue Value, (ii) on any date from 1, 2011 to , 2012 [Last Day of Second Reporting Year], both dates inclusive, Actual System Operating Revenue for the preceding Reporting Year multiplied by the Initial Reporting Year Multiplier with the result divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year multiplied by the Initial Reporting Year Multiplier, and (iii) on or after 1, 2012 [First Day of Third Reporting Year], Actual System Operating Revenue for the preceding Reporting Year, divided by the simple average of the Monthly System in Service Percentages for the preceding Reporting Year, plus the sum of all Required Closure Payments due in the preceding Reporting Year.
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Settlement Credit means either (a) $47,000,000, or (b) such other amount determined by the Court at the time of entry of judgment against any Barred Person to have been the value realized by the Class from the Settlement; provided that if the Court shall determine when assessing liability against the Barred Person that some portion of the damages claims settled in the Settlement are different from those for which the Barred Person is liable, then the amount described in clauses (a) or (b) of this Paragraph minus the portion of the Settlement Amount determined by the Court to have been paid with respect to such different damages claims.
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Related to Settlement Credit

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Settlement Cycle means the period of Clearance System Business Days following a transaction on the Relevant Exchange in the Underlying, during which period settlement will customarily take place according to the rules of such Relevant Exchange.

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Settlement Amount means, with respect to a party and any Early Termination Date, the sum of: --

  • Settlement Agent means, with respect to any Transaction the subject of which is a Wet-Ink Mortgage Loan, the entity approved by Buyer, in its sole good-faith discretion, which may be a title company, escrow company or attorney in accordance with local law and practice in the jurisdiction where the related Wet-Ink Mortgage Loan is being originated. A Settlement Agent is deemed approved unless Buyer notifies Seller otherwise at any time electronically or in writing.

  • Resettlement Plan or “RP” means the resettlement plan for the Project, including any update thereto, prepared and submitted by the Borrower and cleared by ADB;

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Settlement Day means, in relation to a date, (i) with respect to a transfer of cash or other property (other than securities), the next Local Business Day and (ii) with respect to a transfer of securities, the first Local Business Day after such date on which settlement of a trade in the relevant securities, if effected on such date, would have been settled in accordance with customary practice when settling through the clearance system agreed between the parties for delivery of such securities or, otherwise, on the market in which such securities are principally traded (or, in either case, if there is no such customary practice, on the first Local Business Day after such date on which it is reasonably practicable to deliver such securities).

  • Settlement Class means, in respect of each Proceeding, the settlement class defined in Schedule A.

  • Settlement Administrator means the administrator proposed by the Parties and appointed by the Court to administer the Settlement.

  • Settlement Class Member means a member of a Settlement Class.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.