Conditions of Settlement Sample Clauses
The "Conditions of Settlement" clause defines the specific requirements and obligations that must be fulfilled by the parties for a settlement agreement to become effective. Typically, this clause outlines actions such as payment of settlement sums, delivery of documents, or completion of certain tasks by a set deadline. For example, it may require one party to pay a specified amount and the other to withdraw legal proceedings. Its core practical function is to ensure that both parties clearly understand what must occur for the settlement to be finalized, thereby reducing the risk of future disputes over whether the settlement terms have been properly met.
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Conditions of Settlement. The obligation of Buyer under this Agreement to purchase the Property from the Seller is subject to the satisfaction at the time of settlement of each of the following conditions (any one of which may be waived in whole or in part by the Buyer by written waiver at or prior to the Settlement):
(a) All of the representations and warranties by Seller set forth in paragraph 4 of this Agreement shall be true.
(b) Seller shall have performed, observed, and complied with all covenants, agreements and conditions required by this Agreement to be performed, observed and complied with on its part prior to or as of the Settlement.
(c) Title to the Property shall be as required by paragraph 2 above.
(d) All instruments and documents required on the Seller's part to effectuate this Agreement and the transactions contemplated herein, shall be delivered and shall be reasonably satisfactory to Buyer and its attorneys. In the event of the failure of any of the foregoing conditions of Settlement which is not waived in writing by Buyer, (1) upon Buyer's demand, which Buyer may exercise in it sole discretion, all deposits and other sums paid on account of the purchase price, together will all interest earned thereon shall be paid immediately to Buyer, and the Seller and the Buyer shall be released from all liability or obligation to the other, and this Agreement shall then and thereafter be null and void. In addition, if condition (b) above has not been met by the date of Settlement, Seller or Buyer shall have the right, to delay Settlement for a period of ten (10) days to allow Seller time to satisfy said conditions. If at the expiration of ten days Seller has not satisfied any section 6(b) condition, Buyer may terminate this Agreement and receive a return of its Deposit plus all interest accrued thereon, or waive Seller's performance and proceed to Settlement.
Conditions of Settlement. The consummation of the Settlement through the occurrence of the Effective Date is subject to the following conditions, each of which must occur and be fulfilled for this Settlement to be effective: (a) The Municipal Plaintiffs’ Approval;
Conditions of Settlement. This Settlement is conditioned upon the Court entering an order granting final approval of the Settlement and entering judgment.
Conditions of Settlement. The Settlement is conditioned upon the Court entering an order at or following the Final Approval Hearing finally approving the Settlement as fair, reasonable, adequate and in the best interests of the Settlement Class, and the entry of Judgment. Do Nothing. If you do nothing, you will be entitled to your share of the Settlement based on the proportionate number of workweeks you worked during the Class Period (as explained above), and as stated in the accompanying Notice of Individual Settlement Award. You also will be bound by the Settlement, including the release of claims stated above.
Conditions of Settlement. 12.1. This Settlement Agreement is expressly conditioned on and subject to each of the following conditions and, except as provided in Paragraph 11, shall be null and void and of no force and effect, cancelled and terminated unless:
12.1.1 The Court enters a Final Approval Order and Judgment; and
12.1.2 The Final Approval Order and Judgment becomes Final.
Conditions of Settlement. A. The obligation of Buyer under this Agreement to purchase the Premises from Seller is subject to the satisfaction at the time of settlement of each of the following conditions, any one of which may be waived in whole or in part jointly by Buyer and Seller at or prior to settlement:
(a) Buyer shall have obtained, (through the subdivision application of Toll Brothers), final, unappealable and unappealed from subdivision approval (herein, “Subdivision Approval”) from Upper Makefield Township, Newtown Township and all other governmental authorities having jurisdiction over subdivision of the Melsky Tract, thereby creating the Premises Premises as a separate lot capable of being lawfully conveyed to Buyer. It is understood and agreed that the subdivision of the Melsky Tract by Toll Brothers in connection with their acquisition of the balance of the Melsky Tract shall include the creation of a separate lot which shall comprise the PremisesPremises. Buyer acknowledges and agrees that the Seller has no responsibility for submitting or obtaining approval of the Subdivision Plan, and further that the Buyer shall comply with any conditions and requirements of such Subdivision Plan applicable to the Premises.
(b) Simultaneous with the settlement to be held under this Agreement of Sale, Buyer shall complete settlement on an Agreement of Sale for Conservation Easement with Upper Makefield Township by which Buyer shall sell and convey to Upper Makefield Township a Conservation Easement on the portion of the PremisesPremises located in Upper Makefield Township, at a consideration as determined in that Agreement of Sale. Buyer represents to Seller that Buyer and Upper Makefield Township have entered into this Agreement of Sale and that such Agreement of Sale is binding upon the parties thereto. Buyer further agrees to utilize the net funds received from Upper Makefield Township for the Conservation Easement towards the purchase price due and payable to Seller hereunder.
(c) Buyer represents and warrants to Seller that Buyer has agreed to place Conservation Easements on both the Upper Makefield Township portion and the Newtown Township portion of the Premises Premises pursuant to which no residential use of the Premises shall be permitted. Accordingly, the subdivision approvals to be obtained by Buyer hereunder shall not include any requirement that all or any portion of the PremisesPremises be suitable for residential dwellings, any such use being expressly prohibited by...
Conditions of Settlement. This Settlement and your receipt of the Individual Class Payment is conditioned upon the Court entering an order granting final approval of the Settlement and entering Judgment. The Proposed Settlement Will be Void if the Court Denies Final Approval. It is possible the Court will decline to grant Final Approval of the Settlement or decline to enter a Judgment. It is also possible the Court will enter a Judgment that is reversed on appeal. Plaintiff and Defendants have agreed that, in either case, the Settlement will be void: Defendants will not pay any money and Class Members will not release any claims against Defendants.
Conditions of Settlement. (a) Settlement is conditional on both the Purchaser and the Vendor complying with all of their obligations under this clause 6.
(b) If a Party (Defaulting Party) fails to satisfy its obligations under this clause 6 on the day and at the place and time for Settlement then any other Party (Notifying Party) may give the Defaulting Party a notice requiring the Defaulting Party to satisfy those obligations within a period of 10 Business Days from the date of the notice and declaring time to be of the essence.
(c) If the Defaulting Party fails to satisfy those obligations within those 10 Business Days under clause 6.5(b) above, the Notifying Party may, without limitation to any other rights it may have, terminate this Agreement by giving written notice to the Defaulting Party.
Conditions of Settlement. This Settlement and your receipt of the Individual Class Payment is conditioned upon the Court entering an order granting final approval of the Settlement and entering Judgment. The Proposed Settlement Will be Void if the Court Denies Final Approval. It is possible the Court will decline to grant Final Approval of the Settlement or decline to enter a Judgment. It is also possible the Court will enter a Judgment that is reversed on appeal. Plaintiff and Defendant have agreed that, in either case, the Settlement will be void: Defendant will not pay any money and Class Members will not release any claims against Defendant. Need to Promptly Cash Payment Checks. The front of every check issued will show the date when the check expires (the void date). If you don’t cash it by the void date, your check will be automatically cancelled, and the funds represented by such checks to the California Controller's Unclaimed Property Fund in the name of the Class Member.
Conditions of Settlement. The Settlement is conditioned upon the Court entering an order at or following the Final Approval Hearing finally approving the Settlement as fair, reasonable, adequate and in the best interests of the Settlement Class, and the entry of Judgment. Do Nothing. If you do nothing, you will be entitled to your share of the Settlement based on the proportionate number of workweeks you worked during the Class Period (as explained above), and as stated in the accompanying Notice of Settlement Award. You also will be bound by the Settlement, including the release of claims stated above. Dispute Information in Notice of Individual Settlement Award. Your award is based on the proportionate number of workweeks you worked during the Class Period. The information contained in National Paving’s records regarding all of these factors, along with your estimated Settlement Award, is listed on the accompanying Notice of Individual Settlement Award. If you disagree with the information in your Notice of Individual Settlement Award, you may submit a dispute, along with any supporting documentation, in accordance with the procedures stated in the Notice of Individual Settlement Award. Any disputes, along with supporting documentation, must be postmarked no later than