Effect of Agreement if Settlement. Is Not Approved. This Settlement Agreement was entered into only for the purpose of Settlement. In the event that Section 4.1 is invoked by TCP, the Court conditions its approval of either the Preliminary Approval Order or the Final Order and Judgment on any modifications of this Settlement Agreement that are not acceptable to all Parties, or if the Court does not approve the Settlement or enter the Final Order and Judgment, or if the Final Settlement Date does not occur for any reason, then this Agreement shall be deemed null and void ab initio and the Parties shall be deemed restored to their respective positions status quo ante, and as if this Agreement was never executed. In that event (a) the Preliminary Approval Order and all of its provisions will be vacated by its own terms, including, but not limited to, vacating conditional certification of the Class, conditional appointment of Plaintiffs as class representative, and conditional appointment of Plaintiffs’ Counsel as Class Counsel; (b) the Action will revert to the status that existed before the Plaintiffs filed their motion for approval of the Preliminary Approval Order (allowing TCP to, among other things, move to dismiss the Complaint and/or move to strike allegations contained therein); and (c) no term or draft of this Settlement Agreement, or any part of the Parties’ settlement discussions, negotiations or documentation will have any effect or be admissible into evidence for any purpose in the Action or any other proceeding. If the Court does not approve the Settlement or enter the Final Order and Judgment for any reason, or if the Final Settlement Date does not occur for any reason, TCP shall retain all its rights to object to the maintenance of the Action as a class action, and nothing in this Settlement Agreement or other papers or proceedings related to the Settlement shall be used as evidence or argument by any Party concerning whether the Action may properly be maintained as a class action.
Effect of Agreement if Settlement. Is Not Approved. This Agreement is being entered into only for the purpose of settlement. In the event that the Court does not approve the Settlement, or the Final Approval Order and Judgment is not entered for any reason, or the Final Effective Settlement Date does not occur for any reason, then this Agreement shall be deemed null and void ab initio. In that event: (a) the Preliminary Approval Order and all of its provisions shall be vacated by its own terms, and the Action shall revert to the status that existed prior to the execution date of this Agreement, including no certification of a class; and (b) no term of this Agreement or any draft thereof, or of the negotiation, documentation, or other part or aspect of the Parties’ settlement discussions, shall have any effect, nor shall any such matter be admissible in evidence for any purpose in the Action, or in any other proceeding.
Effect of Agreement if Settlement. Is Not Approved. This Agreement was entered into only for the purpose of Settlement. For whatever reason, should the Settlement not be approved, not be implemented in its entirety, or not become final, the fact that the Parties were willing to stipulate to class certification for purposes of this Settlement shall have no bearing on, and shall not be admissible in connection with, the issue of whether a class should be certified in a non-settlement context in this Action or any other action or proceeding. Defendants expressly reserve their right to oppose class certification should this Settlement not become final.
Effect of Agreement if Settlement is not Approved. This Settlement Agreement is entered into only for the purpose of Settlement. If the Settlement is not approved, or is terminated, cancelled, or fails to become effective for any reason, including without limitation in the event the Final Approval Order and Judgment is reversed or vacated following any appeal taken therefrom, then this Settlement shall be void ab initio, shall have no force or effect, and shall impose no obligations on the Parties except as stated herein regarding the Notice and Settlement Administration Costs Advance. The intent of the previous sentence is that, in the event that a necessary approval is denied, the Parties will revert to their positions immediately prior to October 28, 2019, and the Lawsuit will resume without prejudice to any party. In the event of such a reversion, the Parties agree that the proposed or actual certification of the Settlement Class will be deemed void will not be urged or considered as a factor in any further proceeding.
