Grounds for Settlement Termination Clause Samples
Grounds for Settlement Termination. In accordance with the procedures specified herein, this Agreement may be terminated on the following grounds:
1. Any Party may terminate the Agreement if the Court declines to enter the Preliminary Approval Order (incidental or minor changes to the Class Notice ordered by the Court are not grounds for termination), Final Approval Order or Judgment in substantially the form submitted by the Parties, or the Settlement as agreed does not become final for any other reason. The terminating Party shall give written notice to the other Party no later than ten (10) calendar days after the Court acts. The recovery of attorneys’ fees and costs by Class Counsel and the incentive awards to the Plaintiffs are terms of this Agreement, but the allowance or disallowance by the Court of an award of attorneys’ fees and/or costs and/or the incentive awards to the Plaintiffs shall not be grounds for terminating this Settlement.
2. If Ten percent (10%) or more of the Settlement Class makes a valid request to be excluded from the Settlement Class, Defendants will have the right, but not the obligation, to void the Agreement. If Defendants exercise that right to void the Agreement, then the Parties will have no further obligations under the Agreement, including any obligation by Defendants to pay the Gross Settlement Amount, or any amounts that otherwise would have been owed under this Agreement, except that Defendants will pay the Settlement Administrator’s reasonable fees and expenses incurred as of the date that Defendants exercise their right to void the Agreement. Defendants will notify Class Counsel, in writing via USPS and email, and the Court whether they are exercising their right to void the Agreement no later than seven (7) calendar days after the Settlement Administrator notifies the Parties of the total number of opt outs. If Defendants exercise their right to void the Agreement, then Defendants will pay the cost of the settlement administration as stated herein.
Grounds for Settlement Termination. In the event that the Court declines to enter the Preliminary Approval Order or the Final Approval Order, except if the Court declines to enter the Preliminary Approval Order or the Final Approval Order due solely to the amount of attorneys’ fees sought by Class Counsel, the Parties Agree to work together in an effort resolve any issues identified by the
Grounds for Settlement Termination. In accordance with the procedures specified in Section VIII.B below, this Settlement Agreement may be terminated by any Party if the Court declines to enter the Preliminary Approval Order, Final Approval Order or Judgment in substantially the form submitted by the Parties, or the agreed-upon settlement does not become final for any other reason. Defendants may, at their sole discretion, terminate the Settlement Agreement if ten percent (10%) or more of the Settlement Class Members, by number and/or by value, exclude themselves from the settlement. Defendants must exercise their right to withdraw by providing written notice to Class Counsel within twenty (20) days of receiving notice from the Settlement Administrator that the total number of requests for exclusion has reached ten percent (10%). Defendants’ Counsel shall be provided by the Settlement Administrator with the identity of any Settlement Class Member who excludes themselves from the settlement.
Grounds for Settlement Termination. Either Party may terminate the Agreement if the Arbitrator declines to enter the Preliminary Approval Award or the Final Approval Award, except if the Arbitrator declines to enter the Preliminary Approval Award or the Final Approval Award due solely to the amount of attorneys’ fees sought by ▇▇▇▇▇▇▇▇’s Counsel. This Agreement is not contingent upon the Arbitrator’s approval of Claimant’s Counsel’s application for attorneys’ fees, and if the Arbitrator approves the settlement payments allocated to Class Members as set forth in this Agreement, but not the application for attorneys’ fees, the Agreement may not be terminated. Respondent may also terminate this Agreement in the event that 50% or more of the Class Members elect to opt out.
Grounds for Settlement Termination. In accordance with the procedures specified in Section VIII.B below, this Settlement Agreement may be terminated on the following grounds:
1. Any Party may terminate the Settlement Agreement if the Court declines to enter the Preliminary Approval Order, Final Approval Order or Judgment in substantially the form submitted by the Parties, or the agreed-upon settlement does not become final for any other reason. Defendants may, at their sole discretion, terminate the Settlement Agreement if ten percent (10%) or more of the Settlement Class members exclude themselves from the settlement. Defendants must exercise their right to withdraw by providing written notice to Class Counsel within twenty (20) days of receiving notice from the Claims Administrator that the total number of requests for exclusion has reached ten percent (10%). Defendants’ Counsel shall be provided by the Claims Administrator with the identity of any Settlement Class member who excludes themselves from the settlement. Recovery of attorneys’ fees and costs by Class Counsel and enhancement award to the Named Plaintiffs are terms of this Settlement Agreement, but the allowance or disallowance by the Court of an award of attorneys’ fees and/or costs and/or the enhancement award to the Named Plaintiffs are not part of this Settlement, and will be considered by the Court separately from the Court’s consideration of the fairness, reasonableness, adequacy and good faith of this Settlement to the Final Settlement Class.
Grounds for Settlement Termination. 1. If the number of OPT-OUT PLAINTIFFS exceeds seven percent (7%) of the total number of OPT-IN PLAINTIFFS who existed as of the date that the COURT enters its APPROVAL ORDER, DEFENDANT shall have the option in its sole discretion to terminate this SETTLEMENT AGREEMENT. If DEFENDANT elects to enforce this provision and terminate this SETTLEMENT AGREEMENT based on the number of OPT-OUT PLAINTIFFS, DEFENDANT must notify PLAINTIFFS’ COUNSEL within twenty (20) days of the OPT-OUT DEADLINE. This termination provision will no longer be in effect twenty (20) days after the OPT-OUT DEADLINE.
2. Additionally, any PARTY may terminate the SETTLEMENT AGREEMENT if the COURT declines to enter the APPROVAL ORDER or judgment in the form submitted by the PARTIES, a Court of Appeal reverses the entry of a APPROVAL ORDER or judgment, or the settlement as agreed does not become final for any other reason, provided, the PARTIES agree to work cooperatively and in good faith in an attempt to address and resolve any concerns identified by the COURT or a Court of Appeal in declining to enter the APPROVAL ORDER or judgment in the form submitted by the PARTIES.
Grounds for Settlement Termination. Class Counsel or Defense Counsel may terminate the Agreement if the Court declines to enter an Order Granting Preliminary Approval or an Order Granting Final Approval in substantially the same form as that submitted by the Parties, the Agreement does not become final for any other reason, or a Court of Appeals reverses the entry of an Order Granting Final Approval or a final judgment in this Litigation, provided that the Parties agree to work cooperatively and in good faith to address and resolve any concerns identified by the Court in declining to enter an Order Granting Preliminary Approval, an Order Granting Final Approval, or a judgment in the form submitted by the Parties. Notwithstanding the foregoing, the
Grounds for Settlement Termination. This Agreement may be terminated on the following grounds:
(a) Plaintiffs’ Attorneys or Defense Counsel may terminate the Agreement if the Court declines to enter an Order Granting Preliminary Approval or an Order Granting Final Approval in substantially the same form as that submitted by the parties, the Agreement does not become final for any other reason, or a Court of Appeals reverses the entry of an Order Granting Final Approval or a final judgment in this Litigation, provided that the parties agree to work cooperatively and in good faith to address and resolve any concerns identified by the Court in declining to enter an Order Granting Preliminary Approval, an Order Granting Final Approval, or a judgment in the form submitted by the parties. Notwithstanding the foregoing, the Court’s reduction and/or denial of the service awards or the attorneys’ fees and litigation expenses requested by Plaintiffs shall not be grounds for termination of this Agreement.
Grounds for Settlement Termination