Settlement of the Action Sample Clauses

Settlement of the Action. In full and complete satisfaction of all claims that SCS made or could have made against TLSS arising in connection with the subject matter of the Action, TLSS shall, with the execution of this Settlement Agreement by all Parties thereto and the approval of this Settlement Agreement by the Circuit Court of the 15th Judicial Circuit, Palm Beach County, Florida: a. In lieu of paying $36,000 to SCS in the Action, and upon TLSS’s Board of Directors approval, issue and deliver to SCS, or its designee(s), 360 shares of TLSS Series J Senior Convertible Preferred Stock, Stated Value $100 per share (“Preferred Stock”), and convertible into shares of TLSS’s common stock. TLSS represents it shall use an appropriate exemption to cause the issuance of the Preferred Stock to be exempt from registration as required under the circumstances, in accordance with the Stipulation of Settlement set forth in Exhibit A, annexed hereto. The Preferred Stock shall be delivered as soon as reasonably possible, but no later than 30 days from both (a) the approval of the Stipulation of Settlement and this Settlement Agreement by the Circuit Court of the 15th Judicial Circuit, Palm Beach County, Florida; and (b) dismissal of the Action with prejudice. The Preferred Stock to be delivered hereunder shall be subject to a leak-out provision, which shall provide, among other things, that SCS shall use their respective best efforts to limit sales of the common shares, once the Preferred Stock is converted, in a manner consistent with the rights and restrictions placed on all holders ratably of the Series J Senior Convertible Preferred Stock. b. TLSS shall use its best efforts to file the Certificate of Designation for the Preferred Stock on or before May 31, 2025. In full and complete satisfaction of all claims that SCS made or could have made against TLSS arising in connection with the subject matter of the Action, SCS shall agree to the following: i. Immediately after the execution of this Settlement Agreement by the Parties, in the case captioned SCS, LLC, derivatively on behalf of Transportation and Logistics Systems, Inc. v. J▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇., D▇▇▇▇▇▇ ▇▇▇▇▇, S▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Ascentaur LLC and Transportation and Logistics Systems, Inc., Case No. 2020-CA-006581, in the 15th Judicial Circuit, Palm Beach County, Florida (hereinafter, the “derivative case”), SCS shall seek and obtain court approval, by the Circuit Court of the 15th Judicial Circuit, Palm Beach County, Florida, to dismiss...

Settlement of the Action. For and in consideration of settlement between the parties, QMI hereby agrees to make payment to CW in the amount of Forty-Three Thousand Two Hundred and Fifty Dollars ($43,250.00). The parties hereto hereby release and forever discharge each other, and the other's predecessors, successors, assigns, affiliates, parent corporations, subsidiary corporations, officers, directors, agents, servants, representatives, employees, heirs, and assigns, and any other person, firm or corporation now, previously, or hereafter affiliated in any manner with any of the parties hereto, of and from any and all claims, demands, assertions of liability, causes of action, obligations, damages, claims for indemnity of any kind, nature or character whatsoever, except for the obligations set forth within this Agreement, whether or not now known, suspected, or claimed, which any may have against the other, including (1) those arising by reason of any mater, cause, or event arising directly or indirectly out of the facts and circumstances of the Action (complaint prepared by CW, as against Q Matrix, Inc., et al., and (2) those arising out of or in any way connected with any loss, damage or injury whatsoever of whatever kind or nature, whether known or unknown, suspected or unsuspected, resulting from any act or omission by, or on the part of, any party, committed or omitted, prior to the date that this Agreement is executed. The parties hereby, on behalf of themselves and the entities on whose behalf they have signed, represent and warrant that the undersigned have the authority and the capacity to make this Agreement and to carry out the terms hereof. In connection with such waivers and relinquishment, the parties hereto acknowledge that they are aware that they or their attorneys may hereafter discover claims or facts in addition to or different from those which they now know or believe to exist with respect to the subject matter of this Agreement, but that it is their intention hereby to fully, finally and forever to settle and release all of the disputes and differences known or unknown, suspected or unsuspected, which do now exist, may exist in the future, or heretofore have existed arising out of or in connection with the released matters. In furtherance of such intention, the release hereby given shall be and remain in effect as a full and complete release notwithstanding the discovery or existence of any such additional or different claims or facts arising out of or in conne...

Settlement of the Action. 2.1 The consideration set forth below constitutes consideration for the global settlement of the Federal Action, the Santa ▇▇▇▇▇ Action and the State Derivative Action (collectively the “Global Settlement”), and is in exchange for the releases and discharges provided therein. Pursuant to the Global Settlement, Defendants agree and VeriSign shall benefit from and receive the following: 2.2 VeriSign shall have fully implemented the stock option remedies as announced in VeriSign’s Restatement, which include each of the following:

Settlement of the Action. 2.2.1 It is agreed by and among the Named Plaintiffs and State Fund that any and all claims, damages, remedies sought or causes of action arising out of or related to any of the claims asserted in either the ▇▇▇▇▇▇▇▇ or ▇▇▇▇▇▇ class action lawsuits for any policy in effect from March 1, 2013, through the date of preliminary approval of this Settlement, shall be settled and compromised as between the Named Plaintiffs and State Fund, subject to the terms and conditions set forth in this Settlement Agreement and the approval of the Court. This Settlement shall be a bar to Plaintiffs for any and all Released Claims, and may be pleaded as a complete and total defense to any Released Claims raised in the future including those that are or could be brought to the Insurance Commissioner and/or the Administrative Hearing Bureau. 2.2.2 The occurrence of the Effective Date is a prerequisite to any distributions from the Settlement Fund. 2.2.3 The Initial Settlement Agreement provided that within five (5) days of the execution of the Initial Settlement Agreement by all Parties, ▇▇▇▇▇▇ Plaintiffs would seek leave of the Court through its online message board to file the Proposed ▇▇▇▇▇▇ Second Amended Complaint and notify the Court that all Parties consent to the amendment. ▇▇▇▇▇▇ Plaintiffs did so and on June 10, 2022, with leave of the Court, filed the Proposed ▇▇▇▇▇▇ Second Amended Complaint. On July 26, 2022, the Court entered an order based upon a stipulation of the parties staying State Fund’s response to the ▇▇▇▇▇▇ Second Amended Complaint pending settlement approval.

Settlement of the Action. Upon the full compliance of each party of its respective obligations as set out below, within the applicable time limits prescribed by this Agreement, the Action will be settled and dismissed, with prejudice and without costs as against any party. Contemporaneously with its execution of this Agreement, each party's counsel will execute a counterpart of a stipulation of dismissal, in form substantially identical to the attached Exhibit 2 (the "Stipulation") and each party will then deliver that counterpart, along with an executed copy of this Agreement, to ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇ LLP, TGI's attorney ("Escro w Agent") to be held in escrow, as provided below. If the executed documents required here of CVD and CONA have not been received by the Escrow Agent by January 20 , 2015, then this Agreement shall be of no force and effect and the Escrow Agent shall be relieved of any responsibilities hereunder.

Settlement of the Action. Immediately after signing of the Settlement Agreement, the Plaintiffs shall give irrevocable instructions to their legal representatives (the ‘‘Plaintiffs’ Legal Advisers’’) to sign the Consent Dismissal Order and documents necessary to discharge the Notice of Interest and to deliver the same to the legal representatives of the Defendants (the ‘‘Defendants’ Legal Advisers’’) upon their irrevocable undertaking to hold it on order of the Plaintiffs’ Legal Advisers not to file the same in Court until and when the following have taken place (collectively the ‘‘Release Conditions’’):