Approval of Class Settlement Sample Clauses

The Approval of Class Settlement clause establishes the requirement that any settlement reached in a class action lawsuit must be reviewed and formally approved by the court before it becomes binding. In practice, this means that after the parties agree to settle, they must submit the proposed settlement to the judge, who will evaluate its fairness, adequacy, and reasonableness for all class members, often after a hearing and notice to the class. This clause ensures that the interests of all class members are protected and that the settlement is not unfairly favorable to one side, thereby safeguarding the integrity of the class action process.
Approval of Class Settlement. A. Following the Parties’ execution of this Agreement, Plaintiffs shall file forthwith a joint motion seeking preliminary approval of the Settlement Agreement. The motion must request the court to: 1. Preliminarily approve the Settlement Agreement as being a fair, reasonable, and adequate settlement within the meaning of Federal Rule of Civil Procedure 23 and applicable law, and consistent with due process; 2. Approve the Notice Plan set forth in section XV.B; and 3. Set the date and time of the Fairness Hearing. B. Notice: Notice to Class Members, attached hereto as Exhibit A, shall be translated into Spanish, French, Creole, Portuguese, Mandarin, and Punjabi. The Parties will propose to the Court that the notice shall be given to Class Members upon preliminary approval of the Classwide Settlement via the following: Posting in the Facility. Plaintiffs are responsible for the costs of translation of the notice described in this section. C. Following the Effective Date, the Parties shall forthwith jointly file the stipulated request attached hereto as Exhibit B, requesting that the Court enter this Agreement as a stipulated order and dismiss the Action with prejudice; notwithstanding such dismissal, the Court shall retain jurisdiction to interpret and enforce this Agreement for its duration as defined in section VII.A of this Agreement. The stipulated request for dismissal and judgment shall provide as follows: The Court shall retain jurisdiction over this Agreement, and all disputes between and among the Parties arising out of the Agreement, including but not limited to interpretation and enforcement of the terms of the Agreement, except as otherwise provided in the Agreement, for a term of the shorter of three years from the date of the Court’s Final Approval, or one year after the expiration of the Presidential national emergency declaration concerning COVID-19. See Continuation of the National Emergency Concerning the Coronavirus Disease 2019 (COVID-19) Pandemic, 87 Fed. Reg. 10,289 (Feb. 23, 2022), unless Final Approval occurs after the end of the Presidential national emergency declaration, in which case the Agreement shall expire one year after Final Approval.
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Approval of Class Settlement. A. Following the Parties’ execution of this Agreement, the Parties shall file forthwith a joint motion seeking preliminary approval of the Settlement Agreement. The motion must request the court to: 1. Preliminarily approve the Settlement Agreement as being a fair, reasonable, and adequate settlement within the meaning of Federal Rule of Civil Procedure 23 and applicable law, and consistent with due process; 2. Approve the Notice Plan set forth in section XI.B. below; and 3. Set the date and time of the Fairness Hearing.
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Approval of Class Settlement. 9.01 Plaintiff shall file a Motion for (1) Preliminary Approval of Settlement Agreement; (2) Order for Distribution of Class Notice; and (3) Setting Hearing for Final Approval, and supporting papers. The Motion shall be drafted by Class Counsel with collaboration from Defendants’ Counsel, and Class Counsel shall be responsible for filing it with the Court. This Agreement also contemplates that Class Counsel will prepare any other documents necessary for obtaining Preliminary Approval and Final Approval of the Settlement. The Parties shall jointly participate in a hearing before the Court on a date set by the Court to obtain preliminary approval of the Settlement. 9.02 The Parties shall request that the Court grant Final Approval of the settlement and enter final Judgment in accordance with this Agreement which, in addition to the requirements of Section 3 above: (1) approves this Agreement as final, fair, reasonable, adequate, and binding on all members of the Class who have not excluded themselves from this settlement; (2) orders that Class Members, Class Counsel and the Class Representative be paid, and (3) dismisses all claims by the Class with prejudice. Class Counsel shall file memoranda of points and authorities in support of this Settlement. 9.03 In the event this Agreement does not obtain Final Approval, this Action shall revert to its status before the date of the execution of this Agreement. 9.04 After entry of the Judgment, the Court shall have continuing jurisdiction over the Action solely for purposes of: (1) enforcing this Settlement Agreement; (2) addressing settlement administration matters; and (3) addressing such post-judgment matters as may be appropriate under applicable law.
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Related to Approval of Class Settlement

  • PROCEDURE FOR APPROVAL OF SETTLEMENT Acceptance of this Settlement Agreement shall be sought at a hearing of the Central Regional Council of the MFDA on a date agreed to by counsel for Staff and the Respondent.

  • PRELIMINARY APPROVAL OF SETTLEMENT Promptly upon execution of this Stipulation, Lead Plaintiffs will move for preliminary approval of the Settlement, certification of the Settlement Class for settlement purposes only, and the scheduling of a hearing for consideration of final approval of the Settlement, which motion shall be unopposed by Defendants. Concurrently with the motion for preliminary approval, Lead Plaintiffs shall apply to the Court for, and Defendants shall agree to, entry of the Preliminary Approval Order, substantially in the form attached hereto as Exhibit A.

  • Defense and Settlement The Receiver shall have the right, in its discretion, to (i) defend or settle any claim or suit against the Assuming Institution with respect to which the Receiver has indemnified the Assuming Institution in the same manner and to the same extent as provided in Article XII, and (ii) defend or settle any claim or suit against the Assuming Institution with respect to any Liability Assumed, which claim or suit may result in a loss to the Receiver arising out of or related to this Agreement, or which existed against the Failed Bank on or before the Bank Closing Date. The exercise by the Receiver of any rights under this Section 9.3(a) shall not release the Assuming Institution with respect to any of its obligations under this Agreement.

  • Approval of Plan Approval of the Plan by the Commissioner of Internal Revenue as referred to in 17.1 means a continuing approval sufficient to establish that the Plan and related trust(s) are at all times qualified and exempt from income tax under Section 401(a) and other applicable provisions of the Internal Revenue Code of 1986, and that contributions made by the Company under the Plan are deductible for income tax purposes in accordance with law. The cognizant governmental authorities referred to in 17.1 include, without limitation, the Department of Labor, the Pension Benefit Guaranty Corporation and the Securities and Exchange Commission, and their approval means their confirmation with respect to any matter within their regulatory authority that the Plan does not conflict with applicable law.

  • The Settlement Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.