Execution of Settlement Clause Samples
The 'Execution of Settlement' clause defines the procedures and responsibilities for finalizing the transfer of assets, funds, or obligations between parties as agreed in a contract. Typically, this clause outlines the timeline for settlement, the required documentation, and the specific actions each party must take to complete the transaction, such as delivering payment or transferring ownership. Its core practical function is to ensure that both parties understand the steps and timing necessary to fulfill their contractual obligations, thereby reducing the risk of disputes or delays in the settlement process.
Execution of Settlement. The Parties expect that the DRE will become a Party by executing the Settlement on or around July 1, 2016, as provided in Section 9.4.
Execution of Settlement. The DRE will execute the Settlement within 60 days of the Amendment Effective Date.
Execution of Settlement. 6.1 Signatory Authority 18 6.2 Disclosure of Other Agreements 19 6.3 Signing in Counterparts 19 Appendix A. Protection, Mitigation, and Enhancement Measures Recommended to be Included in New Project License, Section 4(e) Conditions, and Other Mandatory License Conditions Section I. Water Temperature Management A-1
Execution of Settlement. (a) This Settlement Agreement is subject to Commission approval and adoption. The Parties agree to file a joint motion for approval and adoption of this Settlement Agreement and to execute or furnish any other additional information, documents, and testimony, or take any other action, that the Commission or CPSD may request, as necessary to implement this Settlement Agreement and such joint motion.
(b) This Settlement Agreement may be executed in any number of counterparts and by different Parties hereto in separate counterparts, with the same effect as if all Parties had signed the same document. All such counterparts will be deemed an original and will together constitute the same Settlement. This Settlement is the entire agreement among the Parties, which cannot be amended or modified without the express written consent of all the Parties.
Execution of Settlement. 3.1 This Settlement is subject to approval and adoption by the Commission. The Parties agree to execute or furnish any other additional information, documents, and/or testimony, or take any other action, that the Commission or CPSD may request, as necessary to implement the Joint Motion for Approval of the Settlement Agreement and Settlement Agreement.
3.2 This Settlement may be executed in any number of counterparts and by different Parties hereto in separate counterparts, with the same effect as if all Parties had signed the same document. All such counterparts will be deemed an original and will together constitute the same Settlement. This Settlement is the entire agreement among the Parties, which cannot be amended or modified without the express written consent of all the Parties.
3.3 This Settlement is not severable. If, pursuant to Rule 12.4 of the Commission’s Rules of Practice and Procedure, the Commission materially modifies or negates any provision of this Settlement, the Parties must consent to such change. A Party will be deemed to have consented to the Commission modification unless, within 15 calendar days following the date of issuance of the Commission proposed modification(s) (or such longer period as may be directed by the Commission), that Party notifies in writing the other Party and files with the Commission its objection to the modification(s). After the 10th day following the filing of the objection if the objecting Party has not withdrawn, canceled, or modified its objection, the Settlement will be deemed rescinded. If this Settlement is rescinded following payment of any sums by Respondents, those sums shall be refunded within 15 calendar days of rescission.
3.4 Each Party represents that it has investigated the facts and law pertaining to the matters described in this Settlement. No Party has relied or presently relies upon any oral or written statement, promise, or representation by any other Party, except as specifically set forth in this Settlement.
3.5 This Settlement will be binding upon the respective Parties, their successors, assignees, executors and administrators.
3.6 The Parties acknowledge and stipulate that this Settlement is fair and not the result of any fraud, duress, or undue influence by any other Party. Each Party hereby states that it has read and fully understands its rights, privileges, and duties under this Settlement. Moreover, each Party has had its respective attorney or other authorized person review t...
Execution of Settlement