Common use of Effect of Disapproval Clause in Contracts

Effect of Disapproval. If the District Court declines to finally approve this Settlement; or if such approval is set aside on appeal or materially modified; or if the District Court enters final judgment and appellate review is sought, and on such review, the final judgment is not affirmed or is affirmed with material modification; or if the terms of this Settlement Agreement are materially changed except by mutual consent of the Settling Parties, then this Settlement Agreement may be cancelled and terminated, and shall become null and void upon the election of any of Pfizer or Lead Counsel by providing written notice to the Settling Parties designated to receive such notice hereunder in accordance with paragraph 23 hereof and the Escrow Agent within ten (10) business days following the occurrence of any such event. An Order by the District Court awarding a Fee and Expense Award in any amount lower than requested by Lead Counsel pursuant to this Settlement Agreement shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee and Expense Award, or the amount of service awards from the Settlement Fund to Plaintiffs in the Action, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

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Effect of Disapproval. If the District Court declines to finally approve this Settlement; or if such approval is set aside on appeal or materially modified; , or if the District Court does not enter the Final Judgment and Order in substantially the form provided for in paragraph 8, or if the Court enters final judgment the Final Judgment and Order and appellate review is sought, and on such review, the final judgment Final Judgment and Order is not affirmed set aside or is affirmed with material modification; or if the terms of this Settlement Agreement are materially changed except by mutual consent of the Settling Parties, then this Settlement Agreement may and the Settlement, with the exception of the parties’ obligations under paragraph 7 herein which shall remain in full force and effect, shall be cancelled and terminated, and shall become null and void terminated upon the election of any of Pfizer Defendants or Co-Lead Counsel by providing written notice to the Settling Parties parties designated to receive such notice hereunder in accordance with paragraph 23 27 hereof and the Escrow Agent within ten (10) business days following the occurrence of any such event. An Order by the District Court awarding a Fee and Expense Award attorneys’ fees, costs, expenses, and/or incentive awards from the Settlement Fund in any amount lower than requested by Lead Counsel Plaintiff’s counsel pursuant to this Settlement Agreement (including paragraph 15) shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee Plaintiffs’ counsel’s fees, costs and Expense Awardexpenses awarded by the Court from the Settlement Fund, or the amount of service awards an incentive award from the Settlement Fund to Plaintiffs in the ActionNamed Plaintiff, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

Effect of Disapproval. If the District Court declines to finally does not approve this Settlement; Agreement in all material respects, or if such approval the Court does not enter Final Approval as provided for in Paragraph 6, or if any judgment approving this Agreement is materially modified or set aside on appeal or materially modified; appeal, or if all of the District Court enters final judgment and appellate review is sought, and on such review, the final judgment is conditions for Final Judgment do not affirmed or is affirmed with material modification; or if the terms occur as set forth in Paragraph 1(n) of this Settlement Agreement are materially changed except by mutual consent of the Settling PartiesAgreement, then this Settlement Agreement may be cancelled and terminated. If cancelled and terminated, and this Agreement shall become null and void upon void, the election Settlement Funds, net of any expended or incurred escrow fees, taxes, and amounts expended or incurred for Class Notice and notice administration (and associated claims forms) pursuant to approval by the Court (subject to a maximum of Pfizer or Lead Counsel by providing written notice $45,000), shall be returned to the Settling Parties designated to receive such notice hereunder in accordance with paragraph 23 hereof and the Escrow Agent Progressive Security within ten (10) business days following of such termination, the occurrence Parties shall be returned to their respective positions in the Action as if this Agreement had never been entered into without prejudice to any claims, rights or defenses of the Parties, and the Release (set forth in Paragraphs 14 and 15) shall be voided and shall be of no force or effect, any such eventdismissal with prejudice of the Action or Final Judgment shall be of no force or effect, and the Plaintiffs (on behalf of the Class) shall be entitled to have any Final Judgment vacated and have their respective claims alleged in the Class Action Complaint reinstated as if they had never been dismissed or compromised, with all statutes of limitation deemed tolled between the time of dismissal and re-instatement, and without the need to re- serve any Party with process. An Order by The Parties and the District Court awarding a Fee and Expense Award Class expressly reserve all of their rights if Final Judgment is not entered in any amount lower than requested by Lead Counsel pursuant to this Settlement Agreement shall not be deemed a modification of all or a part of accordance with the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee and Expense Award, or the amount of service awards from the Settlement Fund to Plaintiffs in the Action, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of terminationAgreement.

Appears in 1 contract

Samples: Settlement Agreement

Effect of Disapproval. If the District Court declines to finally approve this Settlement; or if such approval is set aside on appeal or materially modified; or if the District Court enters final judgment and appellate review is sought, and on such review, the final judgment is not affirmed or is affirmed with material modification; or if the terms of this Settlement Agreement are materially changed except by mutual consent of the Settling Partiesparties, then this Settlement Agreement may be cancelled and terminated, and shall become null and void upon the election of any of Pfizer Allergan or Lead Class Counsel by providing written notice to the Settling Parties parties designated to receive such notice hereunder in accordance with paragraph 23 22 hereof and the Escrow Agent within ten fourteen (1014) business days following the occurrence of any such event. An Order by the District Court awarding a Fee and Expense Award attorneys’ fees, costs, expenses, and/or incentive awards from the Settlement Fund in any amount lower than requested by Lead Counsel Plaintiffs’ counsel pursuant to this Settlement Agreement shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee Class Counsel’s fees and Expense Awardexpenses awarded by the Court from the Settlement Fund, or the amount of service awards from the Settlement Fund to Plaintiffs in the Action, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination.

Appears in 1 contract

Samples: Class Action Settlement Agreement

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Effect of Disapproval. If the District Court declines to finally approve this Settlement; , or if such approval is set aside on appeal or materially modified; , or if there is a material change in the composition of the End-Payor Class, or if the District Court does not enter the Final Judgment and Order in substantially the form provided for in paragraph 3 and Exhibit D, or if the Court enters final judgment the Final Judgment and Order and appellate review is sought, and on such review, the final judgment Final Judgment and Order is not affirmed or is affirmed with material modification; or if the terms of this Settlement Agreement are materially changed except by mutual consent of the Settling Parties, then this Settlement Agreement may and the Settlement shall be cancelled and terminated, and shall become null and void terminated upon the election of any of Pfizer Teva or Co-Lead Counsel for the End-Payor Class (Xxxxxx Xxxxxxx LLP, Xxxxxxxx & Xxxxxxxx LLC, Xxxxx Xxxxxxxx Sellers & Toll PLLC, and Xxxxxxxxx LLP) by providing written notice to the Settling Parties parties designated to receive such notice hereunder in accordance with paragraph 23 21 hereof and the Escrow Agent within ten (10) business days following the occurrence of any such event. An Order by the District Court awarding a Fee and Expense Award in any amount lower than requested by Lead Counsel pursuant to this Settlement Agreement shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee Plaintiffs’ counsel’s costs and Expense Awardexpenses awarded by the Court from the Settlement Fund, or the amount of service incentive awards from the Settlement Fund to Plaintiffs in the MDL Action, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination.

Appears in 1 contract

Samples: Settlement Agreement

Effect of Disapproval. If the District Court declines to finally approve this Settlement; or if such approval is set aside on appeal or materially modified; , or if the District Court does not enter the Final Judgment and Order in substantially the form provided for in paragraph 5, or if the Court enters final judgment the Final Judgment and Order and appellate review is sought, and on such review, the final judgment Final Judgment and Order is not affirmed set aside or is affirmed with material modification; or if the terms of this Settlement Agreement are materially changed except by mutual consent of the Settling Parties, then this Settlement Agreement may and the Settlement shall be cancelled and terminated, and shall become null and void terminated upon the election of any of Pfizer Defendant or Lead Plaintiffs’ Counsel by providing written notice to the Settling Parties parties designated to receive such notice hereunder in accordance with paragraph 23 hereof and the Escrow Agent within ten (10) business days following the occurrence of any such event. An Order by the District Court awarding a Fee and Expense Award attorneys’ fees, costs, expenses, and/or incentive awards from the Settlement Fund in any amount lower than requested by Lead Counsel Plaintiffs’ counsel pursuant to this Settlement Agreement (including paragraph 12) shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination. A modification or reversal on appeal of any amount of Fee Plaintiffs’ counsel’s fees, costs and Expense Awardexpenses awarded by the Court from the Settlement Fund, or the amount of service incentive awards from the Settlement Fund to Plaintiffs in the Class Action, shall not be deemed a modification of all or a part of the terms of this Settlement Agreement or the Final Judgment and Order and shall not give rise to any right of termination.

Appears in 1 contract

Samples: Settlement Agreement (Indivior PLC)

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