Common use of Effect of Non-Participating Class Members Clause in Contracts

Effect of Non-Participating Class Members. Class Members who timely and properly submit an Election Not to Participate in Settlement will not participate in or be bound by the Settlement; will not receive a Settlement Share; and will not be included with those other Participating Class Members counted for purposes of the calculation of Settlement Shares, but they will retain their right, if any, to pursue an individual claim against AxisPoint that would have been released under the Settlement had they been Participating Class Members. The Settlement Share that otherwise would have been payable to such Class Member will be retained in the Settlement Amount for distribution to all other Participating Class Members.

Effect of Non-Participating Class Members. Class Members who timely and properly submit an Election Not to Participate in Settlement will not participate in or be bound by the Settlement; will not receive a Settlement Share; and will not be included with those other Participating Class Members counted for purposes of the calculation of Settlement Shares, but they will retain their right, if any, to pursue an individual claim against AxisPoint TPMG that would have been released under the Settlement had they been Participating Class Members. The Settlement Share that otherwise would have been payable to such Class Member will be retained in the Settlement Amount for distribution to all other Participating Class Members.