Common use of Effect if Settlement Not Approved or Agreement is Terminated Clause in Contracts

Effect if Settlement Not Approved or Agreement is Terminated. If this Agreement is not given preliminary or final approval by the Court, or if an appellate court reverses Final Approval of the Agreement, the Parties will be restored to their respective places in the litigation. In such event, the terms and provisions of this Agreement shall become null and void, will have no further force or effect with respect to the Parties and will not be used in this or any other proceeding for any purposes, and any Judgment or Order entered by the Court in accordance with the terms of this Agreement will be treated as vacated.

Effect if Settlement Not Approved or Agreement is Terminated. If this Agreement is not given preliminary or final approval by the Court, or if an appellate court reverses Final Approval of the Agreement, the Parties will seek in good faith to revise the Agreement as needed to obtain Court approval, provided, however, that no party may use subsequent legal developments or other intervening events, other than the decision(s) denying or reversing approval of the Agreement, as justification for renegotiating the settlement. Failing this, the Parties will be restored to their respective places in the litigation. In such event, the terms and provisions of this Agreement shall become null and void, will have no further force or effect with respect to the Parties and will not be used in this or any other proceeding for any purposes, and any Judgment or Order entered by the Court in accordance with the terms of this Agreement will be treated as vacated.