Common use of SETTLEMENT BASED ON COURT APPROVAL OF TERMS Clause in Contracts

SETTLEMENT BASED ON COURT APPROVAL OF TERMS. A. In the event that the Court does not approve the Settlement Agreement, the Parties’ good-faith adherence to the terms of this Settlement Agreement prior to said non-approval, reversal, vacatur, or termination shall not be considered unlawful. B. This Settlement Agreement is subject to and contingent upon Court approval under Rule 23(e) of the Federal Rules of Civil Procedure. C. Except as otherwise provided herein, in the event the Agreement is terminated or modified in any material respect or fails to become effective for any reason, then the Agreement shall be without prejudice and none of its terms shall be effective or enforceable; the Parties to this Agreement shall be deemed to have reverted to their respective status in the Action as of the date and time immediately prior to the execution of this Agreement; and except as otherwise expressly provided, the Parties shall proceed in all respects as if this Agreement and any related orders had not been entered. In the event that the Agreement is terminated or modified in any material respect, the Parties shall be deemed not to have waived, not to have modified, or not be estopped from asserting any additional defenses or arguments available to them. In such event, neither this Agreement nor any draft thereof, nor any negotiation, documentation, or other part or aspect of the Parties’ settlement discussions, nor any other document filed or created in connection with this Settlement Agreement, shall have any effect or be admissible in evidence for any purpose in the Action or in any other proceeding, and all such documents or information shall be treated as strictly confidential and may not, absent a court order, be disclosed to any person other than the Parties’ counsel, and in any event only for the purposes of the Litigation.