Common use of Terms and Intent of Agreement Clause in Contracts

Terms and Intent of Agreement. This Agreement is entered into only for purposes of settlement. In the event that the Court enters an order preliminarily or finally approving the Settlement of the Action in a manner that is inconsistent with the terms and intent of this Agreement, the Parties shall meet and confer in good faith regarding any modifications made to the proposed order. If, after meeting and conferring in good faith, Bangor determines that the modifications materially alter the terms and intent of this Agreement, including but not limited to, because the modifications may increase Bangor’s liability or reduce the scope of the releases or of the Settlement Classes, or if the Court refuses to grant Final Approval of this Agreement or the Effective Date does not come to pass, then Bangor shall have the option to terminate this Agreement. Each Party reserves the right to prosecute or defend this Action in the event that this Agreement does not become final and binding.