Settlement Agreement Effective Clause Samples
The 'Settlement Agreement Effective' clause defines the point at which a settlement agreement becomes legally binding and enforceable between the parties. Typically, this clause specifies that the agreement takes effect upon the occurrence of a particular event, such as the date of signing by all parties or the fulfillment of certain conditions. For example, it may state that the agreement is effective once both parties have executed the document or after court approval if required. The core function of this clause is to provide certainty about when the parties' obligations and rights under the settlement begin, thereby preventing disputes over the timing of enforceability.
Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date.
Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date.
(2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”):
(a) the prompt, complete and final dismissal with prejudice of the ▇▇▇▇ Action and the Oun Action as against the Settling Defendants without costs and without prejudice to the named plaintiffs being able to participate in any distribution of the Settlement Amount; and
(b) the prompt, complete and final discontinuance of the ▇▇▇▇▇▇▇▇ Actions as against the Settling Defendants, without costs and without prejudice to the named plaintiffs being able to participate in any distribution of the Settlement Amount.
Settlement Agreement Effective. The Closing (as that term is defined under the Settlement Agreement) under that certain Settlement Agreement dated March 29, 2000 (the "Settlement Agreement") between the parties of even date herewith shall have occurred.
Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date.
(2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”):
(a) the prompt, complete and final discontinuance without costs of the Proceedings as against the Discontinuance Defendants;
(b) the prompt, complete and final dismissal with prejudice and without costs of the Oun Action as against the Settling Defendants and the named Discontinuance Defendants; and
(c) the discontinuance by the Superior Court of Quebec of the application to authorize a class action against the Settling Defendants and the Discontinuance Defendants in the ▇▇▇▇▇▇▇▇ Action, without costs.
Settlement Agreement Effective. Except as specifically amended or modified hereby, the Settlement Agreement is and will remain in full force and effect pursuant to its terms.
Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date.
(2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”):
(a) the prompt, complete and final dismissal with prejudice of the ▇▇▇▇ Action as against the Settling Defendant; and
(b) the prompt, complete and final discontinuance of the ▇▇▇▇▇▇▇▇ Action as against the Settling Defendant.