Legal Developments Clause Samples
The Legal Developments clause defines how changes in laws, regulations, or legal interpretations that occur after a contract is signed will be handled by the parties. Typically, this clause outlines the process for notifying the other party of relevant legal changes and may specify how the contract will be amended or how obligations will be adjusted to remain compliant. Its core function is to ensure that the agreement remains enforceable and fair even as the legal landscape evolves, thereby protecting both parties from unforeseen legal risks.
Legal Developments. The Parties agree that Plaintiff will submit to the Court a motion for preliminary approval of this Settlement containing all of the terms and conditions contained herein notwithstanding any new legal developments regarding the Released Claims.
Legal Developments. Without limiting the foregoing provisions of this Section 3.4, if (i) an Applicable Law is enacted or (ii) a Governmental Authority issues, or seeks the issuance of, an Order of the type that would cause any of the Closing conditions set forth in Sections 5.1(d) and 5.2(d) not to be satisfied, the Parties shall, and shall cause their respective Subsidiaries to, use their reasonable best efforts to obtain the elimination of, or exemption from, such Applicable Law or the lifting, withdrawal or termination of such Order or the termination of the efforts by such Governmental Authority to obtain the issuance of such an Order at the earliest practicable time and/or to negotiate in good faith to implement alternative arrangements that will permit the Closing and the transactions contemplated hereby and by the other Transaction Documents to be consummated without a violation of such Applicable Law or Order and without altering in any material respect the rights or obligations of the Parties under this Agreement or any other Transaction Document.