Common use of Opt-Out Right Clause in Contracts

Opt-Out Right. 16.1 Any potential Damages Settlement Sub-Class Member (but not a Named Plaintiff) may request exclusion from the sub-class for purposes of monetary relief only. Potential Damages Settlement Sub-Class Members who wish to opt out of the sub-class for purposes of participation in the monetary portion of the settlement must submit a written and signed request for exclusion (“Opt-Out Statement”) to the Claims Administrator. Opt-Out Statements must be postmarked and mailed to the Claims Administrator not later than sixty (60) days after the Notice Deadline set by the Court. The Opt-Out Statement shall, at minimum, contain the following language: I wish to opt out of the monetary portion of the settlement of this case. I understand that by requesting to be excluded from the class monetary settlement, I will receive no money or Gift Cards from the settlement funds created in accordance with the Agreement entered into by Kmart. I understand that if I am excluded from the class monetary settlement, I may bring a separate action seeking damages. I understand that in any separate lawsuit, I may receive nothing or less than I would have received if I had filed a claim under the monetary provisions of this Agreement. I also understand that I may not seek exclusion from the non-monetary relief set forth in the Agreement, and that I will be bound by the class injunctive provisions of the Agreement entered into by Kmart if the Agreement is approved by the Court. 16.2 To the extent a potential Damages Settlement Sub-Class Member submits an Opt- Out Statement with language that differs from the foregoing, either party reserves the right to seek review of the Court to have the Opt-Out Statement declared valid or invalid. All potential Damages Settlement Sub-Class Members who do not timely opt out of the damages provisions of this Agreement shall be bound by the resolution of any and all issues arising in connection with the Damages Settlement Sub-Class claims for damages and attorneys’ fees. 16.3 No Settlement Class Member may opt out of the injunctive relief provisions of this Agreement. No Named Plaintiff may opt out of any of the provisions of this Agreement. 16.4 The Claims Administrator shall stamp the date received on the original of any Opt-Out Statement it receives and serve copies of the Statement on Class Counsel and Kmart’s counsel not later than three (3) business days after receipt thereof and shall file the date-stamped originals of any Opt-Out Statements with the Clerk of the Court not later than ten (10) business days prior to the date set for the final approval hearing. The Claims Administrator shall retain copies of all Opt-Out Statements in its files until such time as the Claims Administrator is relieved of its duties and responsibilities under this Agreement.