Approval Motion Sample Clauses
An Approval Motion clause establishes the requirement for formal consent or authorization from a designated party or group before certain actions or decisions can proceed. Typically, this clause outlines the process by which approval must be sought, such as submitting a proposal to a board or committee and obtaining a majority or unanimous vote. For example, it may apply to significant business decisions like mergers, acquisitions, or budget allocations. The core function of this clause is to ensure oversight and collective agreement, thereby preventing unilateral decisions and promoting accountability within an organization.
Approval Motion. (1) The Plaintiffs will thereafter bring the Approval Motion before the Court in accordance with the Court’s directions. The Defendants will consent to the issuance of the Second Order.
(2) At the Approval Motion, Class Counsel shall propose for approval by the Court the Distribution Protocol or such other plan for distributing the Net Settlement Amount to the Class as Class Counsel may advise. The Distribution Protocol is the responsibility of Class Counsel and the Defendants have no involvement in its design. Accordingly, the approval of the Distribution Protocol shall be considered separately from the approval of the Settlement and is not a condition of the approval of the Settlement itself and the dismissal of the Action as against the Defendants without costs and with prejudice in accordance with the Second Order.
(3) The Defendants will take no position or make any submission to the Court concerning the Distribution Protocol, except as requested or required by the Court.
(4) The Defendants will not oppose the issuance of the Third Order.
(5) The Plaintiffs may make any amendments to the Distribution Protocol, the Third Order, the Second Notice or the Plan of Notice as it relates to the Second Notice requested or directed by the Court.
Approval Motion. Within five business days after the execution of this Agreement by the Debtors and the TCC, the Debtors shall file the Approval Motion with the Bankruptcy Court. It is expressly acknowledged and understood that (a) the United States Department of Justice might not be able to obtain authority to execute this Agreement prior to the filing of the Approval Motion with the Bankruptcy Court and (b) the effectiveness of any order from the Bankruptcy Court granting the Approval Motion will be contingent on the United States Department of Justice obtaining such authority and executing this Agreement.
Approval Motion. A. Within thirty (30) days of complete execution of this Agreement, Class Counsel shall file a Motion for Approval (“Approval Motion”) that is agreed to by Defendants. In connection with the Approval Motion, Class Counsel will submit to the Court: (1) the proposed Notice, (2) the proposed Claim Form, (3) the proposed Approval Order, (4) an executed version of this Agreement, and (5) the necessary documents, memorandum, affidavits and exhibits for the purposes of certifying a Class for settlement purposes under CPLR §§ 901 and 902, and approving the settlement. The Approval Motion also will seek the setting of a date for individuals to submit Claim Forms, Opt-out Statements and/or object to this Agreement.
B. In the Approval Motion, Class Counsel shall inform the Court of the intended process to obtain a “Approval Order” in accordance with the Court-approved schedule, so that the Court may, among other things: (1) approves the settlement as fair, adequate and reasonable; (2) incorporate the terms of the Release, as described herein; (3) dismiss the Action with prejudice; (4) award Costs and Fees, including any Service Awards; and (5) authorize distribution and payment to the Authorized Claimants.
C. Class Counsel will file the Approval Motion as “unopposed.” Defendants may not oppose such application so long as it (i) is consistent with the terms and conditions of this Agreement, (ii) does not include any additional matters not addressed by this Agreement; and (iii) is entirely accurate and not misleading. Class Counsel will e- mail a draft of the Approval Motion to Defendants’ Counsel seven (7) days prior to filing. Unless Defendants raise objections, Class Counsel may file the Approval Motion seven (7) days after e-mailing a copy to Defendants’ Counsel.
Approval Motion. The Petitioners will apply to the Court (the “Approval Motion”), on at least seven (7) days’ notice to the Service List, for an order approving the Successful Bid and authorizing the Petitioners to enter into any and all necessary agreements with respect to the Successful Bid and to undertake such other actions as may be necessary or appropriate to give effect to the Successful Bid including for the approval of any Plan(s) pursuant to the CCAA.
Approval Motion. (a) Approval Order....
Approval Motion. Promptly following the execution of this Agreement, and in any event within five days after the Petition Date (and contemporaneously with filing a motion seeking approval of the Junior DIP Facility from the Bankruptcy Court), CRC shall, and shall cause the other Debtors to, file a motion with the Bankruptcy Court, in form and substance reasonably acceptable to the Parties and following the receipt of requisite consent in accordance with the RSA (such motion, the “Approval Motion”), seeking (a) interim and final approval of this Agreement, (b) approval of CREH’s entry into an amendment to the LLC Agreement with ECR in the form attached as Exhibit A to this Agreement (the “LLC Agreement Amendment”), and (c) the applicable Debtors’ assumption pursuant to Section 365(a) of the Bankruptcy Code of the Elk Hills Power Agreements (in the case of the LLC Agreement, as amended by the LLC Agreement Amendment).
Approval Motion. The Parties agree that this Master Agreement, together with Schedule A amend and restate in its entirety the Prior Agreement. Promptly after the execution of this Master Agreement and Schedule A, Customer will file a motion (the “Approval Motion”) with the Bankruptcy Court, upon proper notice to creditors, seeking an order in a form acceptable to both Parties in each Party’s sole discretion (the “Approval Order”) (i) authorizing Customer to assume the Prior Agreement, as amended and restated in its entirety by this Master Agreement and Schedule A, and (ii) approving this Master Agreement and Schedule A, and (iii) providing for payment to Supplier of a claim for all pre-petition amounts due to Supplier to cure all defaults in the Prior Agreement pursuant to Section 365 of the Bankruptcy Code in the amount of $733,000, which Supplier hereby stipulates represents the entire unpaid pre-petition obligation due to it from Customer (“Cure Claim”). In connection with the foregoing and Customer’s assumption of this Master Agreement and Schedule A, upon the Approval Order becoming a final order, Supplier shall waive and be deemed to have waived, payment of the Cure Claim by Customer. This Master Agreement, including Schedule A, will be attached as an exhibit to the Approval Motion, provided that Customer will seek and obtain confidential treatment of the portions of this Master Agreement and Schedule A that are confidential, as provided for in Section 6 (Confidentiality), and Customer shall obtain all necessary approvals from the Bankruptcy Court or otherwise to permit such filing under seal at its sole cost and expense. Customer will incorporate comments provided by Supplier in connection with redacting this Master Agreement and Schedule A which comments are reasonable and consistent with Section 6.
Approval Motion. A. Within fifteen (15) days of complete execution of this Agreement, Class Counsel shall file a Motion for Settlement Approval (“Approval Motion”). In connection with the Approval Motion, Class Counsel will submit to the Court: (1) the proposed Notice, (2) the proposed Claim Form, (3) the proposed Approval Order, and (4) an executed version of this Agreement.
B. Plaintiffs will file the Approval Motion as “unopposed.” Defendants may not oppose such application so long as it is consistent with the terms and conditions of this Agreement.
Approval Motion. Promptly upon execution of this Settlement Agreement, Plaintiffs, acting as Class Representatives, through Class Counsel, shall file an Approval Motion. The Approval Motion shall request that this Court approve the Settlement Agreement and enter an Approval Order including provisions:
a. Certifying the Settlement Class and Settlement Subclass, superseding any prior proposed or court-approved classes, constituted as described in Section III(A) of this Agreement, for the sole purpose of effectuating this settlement;
b. Appointing ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, and ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ as representatives of the Class and Subclass;
c. Appointing Class Counsel as counsel for the Class and Subclass;
d. Granting preliminary approval to this Settlement by order substantially in the form attached as Attachment D (the Approval Order), and finding this Settlement sufficiently fair, reasonable, and adequate to allow Notice to be disseminated to the Settlement Class and Subclass;
e. Approving a Settlement Notice and Request for Exclusion/Opt-Out notice substantially in the form attached hereto as Attachment D;
f. Setting a schedule for proceedings with respect to final approval of this Settlement; and
g. Providing that, pending entry of a Final Approval Order and Judgment, no Settlement Class or Subclass Member (either directly, in a representative capacity, or in any other capacity) shall commence or continue any action against the Released Parties asserting any of the Class Released Claims. Defendants and Defendants’ Counsel shall not oppose the Approval Motion.
Approval Motion. (A) Within twenty (20) days of the signing of this Agreement, Class Counsel shall file a Motion for Approval, which shall include (1) the proposed Notice and reminder notice as agreed upon by the Parties, (2) the proposed Claim Form, (3) the proposed Approval Order, (4) an executed version of this Agreement, and (5) the necessary documents, memorandum, affidavits and exhibits for the purposes of certifying, for settlement purposes only, a Class under CPLR §§901 and 902, and approving the settlement. The proposed Notice, proposed Claim Form and proposed Approval Order approved by the Parties shall be annexed to Class Counsel’s Affirmation in support of this proposed settlement. Defendant may review a draft of the Approval Motion and attachments to ensure they are consistent with this Agreement.
(B) In the Motion for Approval, Class Counsel shall seek the implementation of dates for effectuating the terms of this Agreement, including (1) the setting of the Bar Date for individuals to submit Claim Forms, opt-out of this Agreement and/or provide objections to this Agreement, which date will be sixty (60) days from the initial mailing of Notice and Claim Forms to the Class Members by the Settlement Claims Administrator, and (2) to the extent required by the Court, a Fairness Hearing for Final Approval of the settlement before the Court at the earliest practicable date.
(C) Named Plaintiffs will file the Motion for Approval as “unopposed.”