Common use of Effect of Agreement if Settlement Is Not Approved Clause in Contracts

Effect of Agreement if Settlement Is Not Approved. This Settlement Agreement is entered into only for the purpose of settlement. If the Settlement is not approved, or is terminated, cancelled, or fails to become effective for any reason, including without limitation in the event the Final Order and Judgment is reversed or vacated following any appeal taken therefrom, then this Settlement shall be void ab initio, shall have no force or effect, and shall impose no obligations on the Parties except as regards to the Administrative Costs Advance. The intent of the previous sentence is that, in the event that a necessary approval is denied, the Parties will revert to their positions immediately prior to September 15, 2020, and this Action will resume without prejudice to any Party. In the event of such a reversion, the Parties agree that the proposed or actual certification of the Settlement Class will be deemed void and will not be urged or considered as a factor in any further proceeding.

Effect of Agreement if Settlement Is Not Approved. This Settlement Agreement is entered into only for the purpose of settlement. If the Settlement is not approved, or is terminated, cancelled, or fails to become effective for any reason, including without limitation in the event the Final Order and Judgment is reversed or vacated following any appeal taken therefrom, then this Settlement shall be void ab initio, shall have no force or effect, and shall impose no obligations on the Parties except as regards to the Administrative Costs Advance. The intent of the previous sentence is that, in the event that a necessary approval is denied, the Parties will revert to their positions immediately prior to September 15February 17, 20202022, and this Action will resume without prejudice to any Party. In the event of such a reversion, the Parties agree that the proposed or actual certification of the Settlement Class will be deemed void and will not be urged or considered as a factor in any further proceeding.