Establishment of Effective Date of Settlement Clause Samples
The Establishment of Effective Date of Settlement clause defines the specific date on which the terms of a settlement agreement become legally binding and enforceable for all parties involved. Typically, this clause outlines whether the effective date is the date of signing, a future agreed-upon date, or contingent upon the fulfillment of certain conditions, such as court approval or receipt of payment. By clearly specifying when the settlement takes effect, this clause ensures that all parties have a mutual understanding of their rights and obligations, thereby preventing disputes over timing and the commencement of responsibilities.
Establishment of Effective Date of Settlement. If Plaintiffs and Defendants disagree as to whether each and every condition set forth in § 2 has been satisfied, they shall promptly confer in good faith and, if unable to resolve their differences within five (5) business days thereafter, shall present their disputes for determination to ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, the Parties’ mediator, who shall make a final determination regarding the Effective Date of the Settlement and whether all the conditions set forth in § 2 have been satisfied. No portion of the Class Settlement Amount shall be disbursed in the event of such a dispute, pending the mediator’s ruling. Disbursement shall thereafter be made pursuant to the Court’s order.
Establishment of Effective Date of Settlement. If Named Plaintiffs and Defendants disagree as to whether each and every condition set forth in Section 3 has been satisfied or waived, they shall promptly confer in good faith and, if unable to resolve their differences within five (5) business days thereafter, shall present their disputes as provided for in Section 14.
Establishment of Effective Date of Settlement. If Plaintiff and Defendants disagree as to whether each and every condition set forth in § 3 has been satisfied, they shall promptly confer in good faith and, if unable to resolve their differences within five (5) business days thereafter, shall present their disputes for determination to ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, the Parties’ mediator, who shall retain authority for this purpose. No portion of the Class Settlement Amount shall be disbursed in the event of such a dispute pending ▇▇. ▇▇▇▇▇’▇ determination. Disbursement shall thereafter be made pursuant to such determination.
Establishment of Effective Date of Settlement. If the Parties disagree as to whether each and every condition set forth in § 3 has been satisfied, they shall promptly confer in good faith and, if unable to resolve their differences within five (5) business days thereafter, shall present their disputes for determination to the Mediator, who shall retain jurisdiction for this purpose.