Common use of Effect of Settlement/Reservation of Rights Clause in Contracts

Effect of Settlement/Reservation of Rights. (A) Subject to paragraphs (B) and (C) below, in consideration of the monetary relief described in paragraph 8(A), the non-monetary relief described in paragraph 8(C), the admissions in paragraph 9, certain of the undertakings to which Volkswagen and/or Porsche have agreed in the U.S. First, Second, and Third Partial Consent Decrees, the 3.0 Liter Class Action Settlement, and the FTC’s proposed Second Partial Stipulated Order, to the extent approved by the MDL Court, as set forth in paragraph 10, and the XXX Commitment described in paragraph 11, and upon Volkswagen’s payment of the amount contemplated in paragraph 8(A), above: i. Each Section 177 State releases Volkswagen, Porsche, their affiliates and any of Volkswagen’s, Porsche’s or their affiliates’ former, present or future owners, shareholders, directors, officers, employees, attorneys, parent companies, subsidiaries, predecessors, successors, dealers, agents, assigns and representatives (collectively, the “Released Parties”20), from all Environmental Claims arising from or related to the Covered Conduct, including, without limitation, penalties, fines, or other monetary payments and/or injunctive relief. ii. Each Section 177 State releases the Released Parties from all UDAP Injunctive and Restitution Claims (and any other claims under the UDAP Laws) to the extent not already released in the First Partial Settlement Agreement, arising from or related to the Covered Conduct concerning the Subject Vehicles, upon the MDL Court’s approval of the U.S. Second Partial Consent Decree, the