Defendant has previously paid $2,819,237.54 to Class Members for their Past Rent Claims while this lawsuit has been pending. Defendant has agreed to pay to Class Members Past Rent Claims that have not been paid, if any, plus interest on the Past Rent Claim calculated at the non‑compounding rate of 6.5% up to the date of December 31, 2017, less any non‑payment of rent and any rent concessions that are not reflected in the billing used to calculate the amounts, which amounts will be distributed to each Class Member who has a Past Rent Claim, who has timely and properly filed a Claim Form, and who has not elected to be an Opt‑Out.

Each Settlement Class Member who filed a valid Claim Form will receive a payment, provided such payment is warranted, based on the alleged overcharge of rents for the Units calculated as the difference between the rent that would have been charged had the Units been subject to rent stabilization and the rent actually charged for the Units, minus any amounts already received from Defendant in connection with this case, less any unpaid rent, plus interest of 6.5% annually for the period of payment by the tenant to when the money was paid back, but without any interest beyond December 31, 2017. If a Class Member leased more than one Unit during the Class Period, all of the Term Amounts will be combined into one amount.