CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION Clause Samples
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 8.1 The Effective Date of the Stipulation shall be conditioned on the occurrence of all of the following events:
(a) execution of the Stipulation and such other documents as may be required to obtain final Court approval of the Stipulation in a form satisfactory to the Settling Parties;
(b) the Settlement Amount has been deposited with the Escrow Agent;
(c) Defendants have not exercised their option to terminate the Stipulation pursuant to ¶8.4 hereof;
(d) the Court has entered the Notice Order, substantially in the form of Exhibit A hereto, as required by ¶4.1 hereof;
(e) the Court has entered the Judgment that, inter alia, dismisses with prejudice the Action, as to Plaintiffs and the Defendants, as set forth above; and
(f) the Judgment has become Final, as defined in ¶1.10 hereof.
8.2 Upon the occurrence of all of the events referenced in ¶8.1 hereof, any and all remaining interest or right of Defendants in or to the Settlement Fund, if any, shall be absolutely and forever extinguished. If all of the conditions specified in ¶8.1 hereof are not met, then the Stipulation shall be canceled and terminated subject to ¶8.5 hereof unless Lead Counsel and counsel for Defendants mutually agree in writing to proceed with the Settlement.
8.3 The Settling Parties expect that, upon the occurrence of all of the events referenced in ¶8.1 hereof, the action captioned ▇▇▇▇▇▇ ▇▇▇▇ v. Camping World, et al., No. 2019-CH-02404 (Ill. Cir. Ct. Cook Cty.) will be subsequently dismissed, and will take all steps reasonably appropriate to seek such dismissal.
8.4 If, prior to the Settlement Hearing, Persons who otherwise would be members of the Class have timely requested exclusion from the Class in accordance with the provisions of the Notice Order and the Notice given pursuant thereto, and such Persons in the aggregate purchased or otherwise acquired a number of shares of Camping World common stock during the Class Period in an amount greater than the sum specified in a separate Supplemental Agreement Regarding Requests for Exclusion (“Supplemental Agreement”) executed between Plaintiffs and Camping World, Camping World shall have the sole option to terminate this Stipulation and Settlement in accordance with the procedures set forth in the Supplemental Agreement. The Supplemental Agreement will not be filed with the Court unless and until a dispute between Plaintiffs and Camping World concerning its interpretation or application arises. Copies of all requests for exclusion rece...
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 9.1 The Effective Date of the settlement shall be conditioned on the occurrence of all of the following events:
a) the Court has entered the Order of Preliminary Approval and Publishing of Notice of a Final Fairness Hearing, as required by ¶ 3.1;
b) CSI has not exercised its option to terminate the Settlement Agreement pursuant to ¶ 4.3;
c) the Court has entered the Judgment granting final approval to the settlement as set forth herein; and
d) the Judgment has become Final, as defined in ¶ 1.11.
9.2 If all conditions specified in ¶ 9.1 hereof are not satisfied, the Settlement Agreement shall be canceled and terminated subject to ¶ 9.4 unless Proposed Settlement Class Counsel and CSI’s counsel mutually agree in writing to proceed with the Settlement Agreement.
9.3 Within seven (7) days after the Opt-Out Date, the Claims Administrator shall furnish to Proposed Settlement Class Counsel and to CSI’s counsel a complete list of all timely and valid requests for exclusion (the “Opt-Out List”).
9.4 In the event that the Settlement Agreement or the releases set forth in paragraphs 6.1, 6.2, and 6.3 above are not approved by the Court or the settlement set forth in the Settlement Agreement is terminated in accordance with its terms, (i) the Settling Parties shall be restored to their respective positions in the Litigation and shall jointly request that all scheduled litigation deadlines be reasonably extended by the Court so as to avoid prejudice to any Settling Party or Settling Party’s counsel, and (b) the terms and provisions of the Settlement Agreement shall have no further force and effect with respect to the Settling Parties and shall not be used in the Litigation or in any other proceeding for any purpose, and any judgment or order entered by the Court in accordance with the terms of the Settlement Agreement shall be treated as vacated, nunc pro tunc. Notwithstanding any statement in this Settlement Agreement to the contrary, no order of the Court or modification or reversal on appeal of any order reducing the amount of attorneys’ fees, costs, expenses, and/or service awards shall constitute grounds for cancellation or termination of the Settlement Agreement. Further, notwithstanding any statement in this Settlement Agreement to the contrary, CSI shall be obligated to pay amounts already billed or incurred for costs of notice to the Settlement Class, Claims Administration, and Dispute Resolution pursuant to ¶ 2.11 above and shall not, at any time, seek recove...
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 7.1 The Effective Date of the Stipulation shall be conditioned on the occurrence of all of the following events:
(a) execution of the Stipulation and such other documents as may be required to obtain final Court approval of the Stipulation in a form satisfactory to the Settling Parties;
(b) the Settlement Amount has been deposited into the Escrow Account;
(c) Orbital ATK has not exercised its option to terminate the Stipulation pursuant to ¶7.3 hereof;
(d) the Court has entered the Notice Order, substantially in the form of Exhibit A hereto, as required by ¶3.1 hereof;
(e) the Court has entered the Judgment that, inter alia, dismisses with prejudice the Action, as to Plaintiffs and the Defendants, as set forth above; and
(f) the Judgment has become Final, as defined in ¶1.08 hereof.
7.2 Upon the occurrence of all of the events referenced in ¶7.1 hereof, any and all remaining interest or right of Defendants in or to the Settlement Fund, if any, shall be absolutely and forever extinguished. If all of the conditions specified in ¶7.1 hereof are not met, then the Stipulation shall be canceled and terminated subject to ¶7.4 hereof unless Lead Counsel and counsel for Defendants on behalf of their respective clients mutually agree in writing to proceed with the Settlement.
7.3 If, prior to the Settlement Hearing, Persons who otherwise would be members of the Class have timely and validly requested exclusion from the Class in accordance with the provisions of the Notice Order and the Notice given pursuant thereto, and if (a) the total number of shares of Orbital ATK common stock purchased by such Persons during the Class Period, or
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 4.1 This Second Amended Settlement Agreement shall be conditioned on the occurrence of all of the following events:
4.1.1 The Court has entered the Final Order;
4.1.2 The Court has entered the Final Judgment, Exhibit C, without material modifications;
4.1.3 The Final Order and Final Judgment have become Final; and
4.1.4 Neither Settling Defendant nor Plaintiffs have elected to
4.2 If all of the conditions specified in § 4.1 are not met, then the Second Amended Settlement Agreement will be subject to termination in accordance with the terms of this Second Amended Settlement Agreement.
4.3 Settling Defendant reserves the right to terminate the Second Amended Settlement Agreement if the Final Judgment does not include the issuance of an injunction(s) that effectively enjoins the prosecution of all pending litigation against Settling Defendant and those Persons listed in the release at § 15, or each of them, involving claims related the Ionic Breeze®, including, but not limited to, any and all claims related in any way to the efficacy of the Ionic Breeze® or any advertisements, representations, marketing, warranties, or the failure to disclose any potential health risk 15
4.4 Plaintiffs reserve the right to terminate the Second Amended Settlement Agreement if, in the course of Confirmatory Discovery, Settlement Class Counsel obtained information that they did not previously know or have reason to know, and such information relates directly to and would have materially and substantially improved Plaintiffs’ likelihood of prevailing in this Class Action if it had continued.
4.5 The Settling Defendant and Plaintiffs do not agree to the conditional certification of the Settlement Class, the conditional appointment of Settlement Class Counsel, or the conditional appointment of Settlement Class Representatives for any 16 purpose other than to effectuate this Second Amended Settlement Agreement. If this Second Amended Settlement Agreement is terminated pursuant to its terms, or if the Effective Date of Settlement does not occur for any reason, then the conditional certification of the Settlement Class and the appointment of the Settlement Class Representatives and Settlement Class Counsel shall be vacated, and the Class Action shall proceed as though the Settlement Class had never been certified and neither prior agreements nor this Second Amended Settlement Agreement had been negotiated or entered into, the appointments had not been made, and nothing done with regar...
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 9.1 If this Agreement is not approved by the Court, or the settlement set forth in this Agreement is terminated or fails to become effective in accordance with its terms, then this Settlement Agreement shall be canceled and terminated subject to Paragraph 6.1 unless Class Counsel and Defendant’s Counsel mutually agree in writing to proceed with this Agreement. If any Party is in material breach of the terms hereof, any other Party, provided that it is in substantial compliance with the terms of this Agreement, may terminate this Agreement on notice to all of the settling parties. Notwithstanding anything herein, the Parties agree that the Court’s failure to approve, in whole or in part, the Fee Award and/or expenses and/or the Incentive Award set forth in Section 8 above shall not be grounds for termination.
9.2 If this Agreement is terminated or fails to become effective, the Parties shall be restored to their respective positions in the Action as of the moment just prior to the signing of this Agreement and the Class Action Settlement Term Sheet entered into between Target Graphics and the Class Representative shall be cancelled, null, and void. In such event, any Final Judgment or other order entered by the Court in accordance with the terms of this Agreement shall be treated as vacated, nunc pro tunc, and the Parties shall be returned to the status quo ante with respect to the Action as if this Agreement and the Class Action Settlement Term Sheet had never been entered into.
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 10.1 The Effective Date of the settlement shall be conditioned on the occurrence of all of the following events:
a. the Court has entered the Preliminary Approval Order and Publishing of Notice of a Final Fairness Hearing, as required by ¶ 8.1;
▇. ▇▇▇▇▇▇ has not exercised its option to terminate the Settlement Agreement pursuant to ¶ 3.3;
c. the Court has entered the Judgment granting final approval to the settlement as set forth herein; and
d. the Judgment has become Final, as defined in ¶ 1.11.
10.2 If all conditions specified in ¶ 10.1 hereof are not satisfied, the Settlement Agreement shall be canceled and terminated subject to ¶ 10.4 unless Class Counsel and Defense Counsel mutually agree in writing to proceed with the Settlement Agreement.
10.3 Within seven days after the Opt-Out Date, the Settlement Administrator shall furnish to Class Counsel and to Defense Counsel a complete list of all timely and valid requests for exclusion (the “Opt-Out List”).
10.4 In the event that the Settlement Agreement or the releases set forth in ¶¶ 6.1, 6.2, and 6.3 above are not approved by the Court or the settlement set forth in the Settlement Agreement is terminated in accordance with its terms, (i) the Settling Parties shall be restored to their respective positions in the Litigation and shall jointly request that all scheduled litigation deadlines be reasonably extended by the Court so as to avoid prejudice to any Settling Party or Settling Party’s counsel, and (b) the terms and provisions of the Settlement Agreement shall have no further force and effect with respect to the Settling Parties and shall not be used in the Litigation or in any other proceeding for any purpose, and any judgment or order entered by the Court in accordance with the terms of the Settlement Agreement shall be treated as vacated, nunc pro tunc. Notwithstanding any statement in this Settlement Agreement to the contrary, no order of the Court or modification or reversal on appeal of any order reducing the amount of attorneys’ fees, costs, expenses, and/or service awards shall constitute grounds for cancellation or termination of the Settlement Agreement. Further, notwithstanding any statement in this Settlement Agreement to the contrary, ▇▇▇▇▇▇ shall be obligated to pay amounts already billed or incurred for costs of notice to the Settlement Class above and shall not, at any time, seek recovery of same from any other party to the Litigation or from counsel to any other party to the Litigatio...
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 1 10.1 The Effective Date of the settlement shall be conditioned on the occurrence of all 2 of the following events:
3 a) the Court has entered the Order of Preliminary Approval and Publishing of Notice 4 of a Final Fairness Hearing, as required by ¶ 3.1;
5 b) Overlake has not exercised their option to terminate the Settlement Agreement
7 c) the Court has entered the Judgment granting final approval to the settlement as set 8 forth herein; and
9 d) the Judgment has become Final, as defined in ¶ 1.11.
10 10.2 If all of the conditions specified in ¶ 10.1 hereof are not satisfied, the Settlement 11 Agreement shall be canceled and terminated subject to ¶ 10.4 unless Proposed Settlement Class 12 Counsel and Overlake’s counsel mutually agree in writing to proceed with the Settlement
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 9.1 If this Agreement is not approved by the Court, or the settlement set forth in this Agreement is terminated or fails to become effective in accordance with its terms, then this Settlement Agreement shall be canceled and terminated subject to Paragraph 6.1 unless Class Counsel and Defense Counsel mutually agree in writing to proceed with this Agreement. If any Party is in material breach of the terms hereof, any other Party, provided that it is in substantial compliance with the terms of this Agreement, may terminate this Agreement on notice to all of the Settling Parties. Notwithstanding anything herein, the Parties agree that the Court’s failure to approve, in whole or in part, Class Counsel’s request for payment of attorneys’ fees, costs and/or expenses and/or the request for incentive award payments set forth in Section 8 above shall not be grounds for termination.
9.2 If this Agreement is terminated or fails to become effective, the Parties shall be restored to their respective positions in the Action as of the moment just prior to the signing of this
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. The Effective Date of this Settlement Agreement shall not occur unless and until each of the following events occurs and shall be the date upon which the last (in time) of the following events occurs:
CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION. 10.1 The Effective Date of the settlement shall be conditioned on the occurrence of all of the following events:
a) Defendants have not exercised their option to terminate the Settlement Agreement pursuant to ¶ 4.3, b) the Court has entered the Judgment approving the settlement and certification of the Class as set forth herein; and