The Settlement Approval Process Clause Samples
The Settlement Approval Process clause outlines the procedures and requirements for obtaining formal approval of a settlement agreement, typically in the context of litigation or dispute resolution. This clause details the steps parties must follow, such as submitting the settlement to a court or regulatory body, providing notice to affected parties, and securing any necessary consents before the settlement becomes binding. Its core function is to ensure that all settlements are properly vetted and authorized, thereby protecting the interests of all parties involved and ensuring compliance with legal or regulatory standards.
The Settlement Approval Process. The Court has granted preliminary approval of the proposed Settlement and approved this Notice. The Settlement will not take effect, and there will be no benefits distributed under the Settlement, however, if the Court does not enter an Order and Final Judgment or the Settlement otherwise does not become effective. The Court will hold a hearing on to consider whether the Settlement is fair, reasonable, and adequate (the “Final Approval Hearing”). The Court and the Parties anticipate the hearing will be conducted in at the United States District Court for the Western District of Oklahoma, ▇▇▇ ▇▇ ▇▇▇ ▇▇., ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, but the Court may, by order filed on the public record, change the format, time, or place of the hearing. Class Counsel will attend the hearing to answer any questions the Court may have. You are not required to attend the Final Approval Hearing. The date, format, and location of the Final Approval Hearing are subject to change by order of the Court without further notice to the Settlement Class. If you would like to attend the Final Approval Hearing, you should check the Settlement Website, ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, or the Court’s online docket to confirm that the date, format, or location has not been changed. Prior to the Final Approval Hearing, an Independent Fiduciary will be asked to approve the Settlement and Released Claims on behalf of the Plan, as may be required by ERISA Prohibited Transaction Exemption 2003- 39 or any other applicable class or statutory exemptions. The Court will be informed as to whether the Independent Fiduciary approved the Settlement and Released Claims on behalf of the Plan prior to ruling on the application for final approval of the Settlement.
The Settlement Approval Process. The Court granted preliminary approval of the proposed Settlement and approved this notice. The Settlement will not take effect, however, until the Court enters a final approval order. The Court will hold a Fairness Hearing on , which will take place at the . The date and location of the Fairness Hearing is subject to change by order of the 1 All capitalized terms not defined in this Notice shall be construed consistent with the definitions provided in the Settlement Agreement. Court, which will appear on the Court’s docket for the case. Prior to the Fairness Hearing, the named Plan fiduciary will select an Independent Fiduciary to provide an authorization as may be required by Prohibited Transaction Exemption 2003-39 or any other applicable class or statutory exemptions.
The Settlement Approval Process. The Court has granted preliminary approval of the proposed Settlement, finding that it is sufficiently within the range of reasonableness to warrant such preliminary approval, and has approved this notice to the Settlement Classes. The Settlement will not take effect, however, until it receives final approval from the Court following an opportunity for Settlement Class Members to object to the Settlement, as described in detail below. Following the deadline for objecting to the Settlement, the Court will hold a Final Approval Hearing on , 2016, which will take place at the United States District Court for the Northern District of Iowa, located at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇. The date and location of the Final Approval Hearing is subject to change by order of the Court, which will appear on the Court’s docket for these cases.
The Settlement Approval Process. The Court has granted preliminary approval of the proposed Settlement, finding that it is sufficiently within the range of reasonableness to warrant such preliminary approval, and has approved this notice to the Settlement Classes. The Settlement will not take effect, however, until it receives final approval from the Court following an opportunity for Settlement Class Members to object to the Settlement, as described in detail below. Following the deadline for objecting to the Settlement, the Court will hold a Fairness Hearing on , 2015, which will take place at The United States District Court for the Southern District of Iowa, located at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇. The date and location of the Fairness Hearing is subject to change by order of the Court, which will appear on the Court’s docket for these cases.