SCOPE AND EFFECT OF SETTLEMENT. (a) The obligations incurred pursuant to this Agreement shall be in full and final disposition of the following: (i) The OTC Action against Barclays; (ii) Any and all Released Claims as against all Released Parties; and (iii) Any and all Settling Defendant’s Claims as against all Releasing Parties. (b) Upon the Effective Date of Settlement, each of the Releasing Parties: (i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal, shall have, fully, finally, and forever waived, released, relinquished, and discharged all Released Claims against the Released Parties, regardless of whether such Releasing Party executes and delivers a proof of claim; (ii) Shall forever be enjoined from prosecuting in any forum any Released Claim against any of the Released Parties; and (iii) Agrees and covenants not to sue any of the Released Parties on the basis of any Released Claims or to assist any third party in commencing or maintaining any suit against any Released Party related in any way to any Released Claims. (c) Upon the Effective Date of Settlement, each of the Released Parties: (i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal shall have fully, finally, and forever released and discharged Class Plaintiffs, OTC Plaintiffs’ Counsel, and each and all OTC Class Members from each and every one of the Settling Defendant’s Claims; (ii) Shall forever be enjoined from prosecuting the Settling Defendant’s Claims; and (iii) Agrees and covenants not to sue on the basis of the Settling Defendant’s Claims, or to assist any third party in commencing or maintaining any such suit related to the Settling Defendant’s Claims. (d) The releases provided in this Agreement shall become effective immediately upon occurrence of the Effective Date of Settlement without the need for any further action, notice, condition, or event. (e) As an express and material condition of this Agreement, the Court shall enter an order, in the Final Judgment and Order of Dismissal or otherwise, to the extent permitted by law, barring claims against the Released Parties for contribution or indemnification (however denominated) for all or a portion of any amounts paid or awarded in the OTC Action by way of settlement, judgment, or otherwise by any of the following: (i) Any of the other Defendants currently named in the OTC Action; (ii) Any other Person formerly named as a party in the OTC Action; or (iii) Any other Person subsequently added or joined as a party in the OTC Action. (f) In the event that this Agreement is terminated pursuant to Paragraphs 10(c), 13(a), 13(c) or 13(d), or any condition for the final approval of this Agreement is not satisfied, the release and covenant not to sue provisions of the foregoing paragraphs shall be null and void and unenforceable.
Appears in 2 contracts
Samples: Settlement Agreement, Settlement Agreement
SCOPE AND EFFECT OF SETTLEMENT. (a) The obligations incurred pursuant to this Agreement shall be in full and final disposition of the following:
(i) The OTC Lender Action against BarclaysBarclays Bank PLC;
(ii) Any and all Released Claims as against all Released PartiesParties with prejudice and without costs; and
(iii) Any and all Settling Defendant’s Claims as against all Releasing Parties.
(b) This Agreement is expressly intended to absolve the Released Parties from any claims for contribution, indemnification, or similar claims (however denominated) from other Defendants in the Action and other alleged co-conspirators, arising out of or related to the Released Claims in the manner and to the fullest extent permitted under the laws of the State of New York or any other jurisdiction that might be construed or deemed to apply to any claims for contribution, indemnification or similar claims (however denominated) against any Released Parties.
(c) Upon the Effective Date of Settlement, each of the Releasing Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal, shall have, fully, finally, and forever waived, released, relinquished, and discharged all Released Claims against the Released Parties, regardless of whether such Releasing Party executes and delivers a proof of claim;
(ii) Shall forever be enjoined from prosecuting in any forum any Released Claim against any of the Released Parties; and;
(iii) Agrees and covenants not to sue any of the Released Parties on the basis of any Released Claims or to assist any third party in commencing or maintaining any suit against any Released Party related in any way to any Released Claims; and
(iv) Agrees that, should any court determine that any Defendant or other co- conspirator is/was legally entitled to any kind of contribution, indemnification, or similar claim (however denominated) from a Released Party arising out of or related to Released Claims, the Releasing Parties agree that any money judgment obtained against any Defendant or other co-conspirator shall be reduced to an amount such that, upon paying the entire amount, the Defendant or other co-conspirator would have no claim for contribution, indemnification, or similar claims (however denominated) against the Released Parties.
(cd) Upon the Effective Date of Settlement, each of the Released Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal Dismissal, shall have fully, finally, and forever released and discharged Class Lender Plaintiffs, OTC Lender Plaintiffs’ Counsel, and each and all OTC Lender Class Members from each and every one of the Settling Defendant’s Claims;
(ii) Shall forever be enjoined from prosecuting the Settling Defendant’s Claims; and
(iii) Agrees and covenants not to sue on the basis of the Settling Defendant’s Claims, or to assist any third party in commencing or maintaining any such suit related to the Settling Defendant’s Claims.
(de) The releases provided in this Agreement shall become effective immediately upon occurrence of the Effective Date of Settlement without the need for any further action, notice, condition, or event.
(ef) As an express and material condition of this Agreement, the Court shall enter an order, in the Final Judgment and Order of Dismissal or otherwise, to the extent permitted by law, with prejudice and without costs barring claims against the Released Parties for contribution contribution, indemnification or indemnification similar claims (however denominated) for all or a portion of any amounts paid or awarded in the OTC Lender Action by way of settlement, judgment, or otherwise by any of the following:
(i) Any of the other Defendants currently named in the OTC Lender Action;
(ii) Any other Person formerly named as a party in the OTC Lender Action; or
(iii) Any other Person subsequently added or joined as a party in the OTC Lender Action.
(fg) In the event that this Agreement is terminated pursuant to Paragraphs 10(c), 13(a), 13(c) or 13(d13(b), or any condition for the final approval of this Agreement is not satisfied, the release and covenant not to sue provisions of the foregoing paragraphs shall be null and void and unenforceable.
Appears in 1 contract
Samples: Settlement Agreement
SCOPE AND EFFECT OF SETTLEMENT. (a) The obligations incurred pursuant to this Agreement shall be in full and final disposition of the following:
(i) The OTC Lender Action against Barclays;the Settling Defendant; and
(ii) Any and all Released Claims as against all Released Parties; andParties with prejudice and without costs.
(iiib) Any This Agreement is expressly intended to absolve the Released Parties from any claims for contribution, indemnification, or similar claims (however denominated) from other Defendants in the Action and all Settling Defendant’s other alleged co-conspirators, arising out of or related to the Released Claims as in the manner and to the fullest extent permitted under the laws of the State of New York or any other jurisdiction that might be construed or deemed to apply to any claims for contribution, indemnification or similar claims (however denominated) against all Releasing any Released Parties.
(bc) Upon the Effective Date of Settlement, each of the Releasing Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal, shall have, fully, finally, and forever waived, released, relinquished, and discharged all Released Claims against the Released Parties, regardless of whether such Releasing Party executes and delivers a proof of claim;
(ii) Shall forever be enjoined from prosecuting in any forum any Released Claim against any of the Released Parties; and;
(iii) Agrees and covenants not to sue any of the Released Parties on the basis of any Released Claims or to assist any third party in commencing or maintaining any suit against any Released Party related in any way to any Released Claims; and
(iv) Agrees that, should any court determine that any Defendant or other co• conspirator is/was legally entitled to any kind of contribution, indemnification, or similar claim (however denominated) from a Released Party arising out of or related to Released Claims, the Releasing Parties agree that any money judgment obtained against any Defendant or other co-conspirator shall be reduced to an amount such that, upon paying the entire amount, the Defendant or other co-conspirator would have no claim for contribution, indemnification, or similar claims (however denominated) against the Released Parties.
(cd) Upon the Effective Date of Settlement, each of the Released Parties:
(i) Shall Settling Defendant shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal shall have fully, finally, and forever released and discharged Class Plaintiffs, OTC Plaintiffs’ Counseldischarged, and each and all OTC Class Members from each and every one of the Settling Defendant’s Claims;
(ii) Shall shall forever be enjoined from prosecuting any and all claims against Lender Plaintiffs and their counsel arising out of or relating to the institution, prosecution, or resolution of the Released Claims in the Action; provided, however, that this Paragraph does not release or discharge any claim or right that the Settling Defendant’s Claims; and
(iii) Agrees and covenants Defendant may have to enforce this Agreement, or any claim, right, or defense that the Settling Defendant may otherwise have arising out of or relating to any U.S. Dollar LIBOR-Based Loans, including any claim or right to enforce the terms of any such U.S. Dollar LIBOR-Based Loans. For the avoidance of doubt, this Paragraph does not release claims, rights, or defenses that the Settling Defendant may have relating to sue on the basis or arising out of any instruments, products, or transactions other than U.S. Dollar LIBOR-Based Loans, or any other claims, rights or defenses that do not arise out of the Settling Defendant’s Claims, or to assist any third party in commencing or maintaining any such suit related to factual predicate of the Settling Defendant’s ClaimsAction.
(de) The releases provided in this Agreement shall become effective immediately upon occurrence of the Effective Date of Settlement without the need for any further action, notice, condition, or event.
(ef) The releases set forth herein are given pursuant to New York law and are to be construed under New York law, including N.Y. General Obligations Law § 15-108, which bars claims for contribution by joint tortfeasors and other similar claims.
(g) As an express and material condition of this Agreement, the Court shall enter an order, in the Final Judgment and Order of Dismissal or otherwise, to the extent permitted by law, with prejudice and without costs barring claims against the Released Parties for contribution contribution, indemnification, or indemnification similar claims (however denominated) for all or a portion of any amounts paid or awarded in the OTC Lender Action by way of settlement, judgment, or otherwise by any of the following:
(i) Any of the other Defendants currently named in the OTC Lender Action;
(ii) Any other Person formerly named as a party in the OTC Lender Action; or
(iii) Any other Person subsequently added or joined as a party in the OTC Lender Action.
(fh) In the event that this Agreement is terminated pursuant to Paragraphs 10(c), 13(a), 13(c) or 13(d13(b), or any condition for the final approval of this Agreement is not satisfied, the release and covenant not to sue provisions of the foregoing paragraphs shall be null and void and unenforceable.
Appears in 1 contract
Samples: Settlement Agreement
SCOPE AND EFFECT OF SETTLEMENT. (a) The obligations incurred pursuant to this Agreement shall be in full and final disposition of the following:
(i) The OTC Lender Action against BarclaysHSBC and HSBC Holdings plc;
(ii) Any and all Released Claims as against all Released PartiesParties with prejudice and without costs; and
(iii) Any and all Settling Defendant’s Claims as against all Releasing Parties.
(b) Upon the Effective Date of Settlement, each of the Releasing Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal, shall have, fully, finally, and forever waived, released, relinquished, and discharged all Released Claims against the Released Parties, regardless of whether such Releasing Party executes and delivers a proof of claim;
(ii) Shall forever be enjoined from prosecuting in any forum any Released Claim against any of the Released Parties; and
(iii) Agrees and covenants not to sue any of the Released Parties on the basis of any Released Claims or to assist any third party in commencing or maintaining any suit against any Released Party related in any way to any Released Claims.
(iv) Agrees that, should any court determine that any Defendant or other co- conspirator is/was legally entitled to any kind of contribution or indemnification from a Released Party arising out of or related to Released Claims, the Releasing Parties agree that any money judgment obtained against any Defendant or other co-conspirator shall be reduced to an amount such that, upon paying the entire amount, the Defendant or other co-conspirator would have no claim for contribution, indemnification or similar claims against the Released Parties.
(c) Upon the Effective Date of Settlement, each of the Released Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal and the HSBC Holdings plc Release, shall have fully, finally, and forever released and discharged Class Lender Plaintiffs, OTC Lender Plaintiffs’ Counsel, and each and all OTC Lender Class Members from each and every one of the Settling Defendant’s Claims;
(ii) Shall forever be enjoined from prosecuting the Settling Defendant’s Claims; and
(iii) Agrees and covenants not to sue on the basis of the Settling Defendant’s Claims, or to assist any third party in commencing or maintaining any such suit related to the Settling Defendant’s Claims.
(d) The releases provided in this Agreement shall become effective immediately upon occurrence of the Effective Date of Settlement without the need for any further action, notice, condition, or event.
(e) As an express and material condition of this Agreement, the Court shall enter an order, in the Final Judgment and Order of Dismissal or otherwise, with prejudice and without costs, to the extent permitted by law, barring claims against the Released Parties for contribution or indemnification (however denominated) for all or a portion of any amounts paid or awarded in the OTC Lender Action by way of settlement, judgment, or otherwise by any of the following:
(i) Any of the other Defendants currently named in the OTC Lender Action;
(ii) Any other Person formerly named as a party in the OTC Lender Action; or
(iii) Any other Person subsequently added or joined as a party in the OTC Lender Action.
(f) In the event that this Agreement is terminated pursuant to Paragraphs 10(c), 13(a), 13(c) or 13(d), or any condition for the final approval of this Agreement is not satisfied, the release and covenant not to sue provisions of the foregoing paragraphs shall be null and void and unenforceable.
Appears in 1 contract
Samples: Settlement Agreement
SCOPE AND EFFECT OF SETTLEMENT. (a) The obligations incurred pursuant to this Agreement shall be in full and final disposition of the following:
(i) The OTC Lender Action against Barclays;each of the Settling Defendants; and
(ii) Any and all Released Claims as against all Released Parties; andParties with prejudice and without costs.
(iiib) Any This Agreement is expressly intended to absolve the Released Parties from any claims for contribution, indemnification, or similar claims (however denominated) from other Defendants in the Action and all Settling Defendant’s other alleged co-conspirators, arising out of or related to the Released Claims as in the manner and to the fullest extent permitted under the laws of the State of New York or any other jurisdiction that might be construed or deemed to apply to any claims for contribution, indemnification or similar claims (however denominated) against all Releasing any Released Parties.
(bc) Upon the Effective Date of Settlement, each of the Releasing Parties:
(i) Shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal, shall have, fully, finally, and forever waived, released, relinquished, and discharged all Released Claims against the Released Parties, regardless of whether such Releasing Party executes and delivers a proof of claim;
(ii) Shall forever be enjoined from prosecuting in any forum any Released Claim against any of the Released Parties; and;
(iii) Agrees and covenants not to sue any of the Released Parties on the basis of any Released Claims or to assist any third party in commencing or maintaining any suit against any Released Party related in any way to any Released Claims; and
(iv) Agrees that, should any court determine that any Defendant or other co• conspirator is/was legally entitled to any kind of contribution, indemnification, or similar claim (however denominated) from a Released Party arising out of or related to Released Claims, the Releasing Parties agree that any money judgment obtained against any Defendant or other co- conspirator shall be reduced to an amount such that, upon paying the entire amount, the Defendant or other co-conspirator would have no claim for contribution, indemnification, or similar claims (however denominated) against the Released Parties.
(cd) Upon the Effective Date of Settlement, each of the Released Parties:
(i) Shall Settling Defendants shall be deemed to have, and by operation of the Final Judgment and Order of Dismissal shall have have, fully, finally, and forever released and discharged Class Plaintiffs, OTC Plaintiffs’ Counseldischarged, and each and all OTC Class Members from each and every one of the Settling Defendant’s Claims;
(ii) Shall shall forever be enjoined from prosecuting any and all claims against Lender Plaintiffs and their counsel arising out of or relating to the Settling Defendant’s Claimsinstitution, prosecution, or resolution of the Released Claims in the Action; and
(iii) Agrees and covenants provided, however, that this Paragraph does not to sue on the basis release or discharge any claim or right that each of the Settling Defendant’s ClaimsDefendants may have to enforce this Agreement, or any claim, right, or defense that each of the Settling Defendants may otherwise have arising out of or relating to assist any third party in commencing U.S. Dollar LIBOR-Based Loans, including any claim or maintaining right to enforce the terms of any such suit related to U.S. Dollar LIBOR-Based Loans. For the avoidance of doubt, this Paragraph does not release claims, rights, or defenses that each of the Settling Defendant’s ClaimsDefendants may have relating to or arising out of any instruments, products, or transactions other than U.S. Dollar LIBOR-Based Loans, or any other claims, rights or defenses that do not arise out of the factual predicate of the Action.
(de) The releases provided in this Agreement shall become effective immediately upon occurrence of the Effective Date of Settlement without the need for any further action, notice, condition, or event.
(ef) As an express and material condition of this Agreement, the Court shall enter an order, in the Final Judgment and Order of Dismissal or otherwise, to the extent permitted by law, with prejudice and without costs barring claims against the Released Parties for contribution contribution, indemnification, or indemnification similar claims (however denominated) for all or a portion of any amounts paid or awarded in the OTC Lender Action by way of settlement, judgment, or otherwise by any of the following:
(i) Any of the other Defendants currently named in the OTC Lender Action;
(ii) Any other Person formerly named as a party in the OTC Lender Action; or
(iii) Any other Person subsequently added or joined as a party in the OTC Lender Action.
(fg) In the event that this Agreement is terminated pursuant to Paragraphs 10(c), 13(a), 13(c) or 13(d13(b), or any condition for the final approval of this Agreement is not satisfied, the release and covenant not to sue provisions of the foregoing paragraphs shall be null and void and unenforceable.
Appears in 1 contract
Samples: Settlement Agreement
