Common use of Option of Rescission Based on Opt-Outs Clause in Contracts

Option of Rescission Based on Opt-Outs. In the event that a minimum of 500,000 of potential members of the Settlement Class timely and validly exclude themselves from the Settlement Class pursuant to the procedures approved by the Court, Settling Defendant shall, in its sole discretion, have the authority to rescind this Settlement Agreement in its entirety by providing written notice of its election to do so (the “Opt-Out Termination Notice”). Settling Defendant shall provide the Opt-Out Termination Notice within fifteen (15) calendar days of the date that the final list of potential Class Members who timely and validly opt out is provided to Settling Defendant.

Option of Rescission Based on Opt-Outs. In the event that a minimum of 500,000 of potential members of the Settlement Class timely and validly exclude themselves from the Settlement Class pursuant to the procedures approved by the Court, Settling Defendant Defendants shall, in its their sole discretion, have the authority to rescind this Settlement Agreement in its entirety by providing written notice of its their election to do so (the “Opt-Out Termination Notice”). Settling Defendant Defendants shall provide the Opt-Out Termination Notice within fifteen (15) calendar days of the date that the final list of potential Class Members who timely and validly opt out is provided to Settling DefendantDefendants.