Moretti Settlement Sample Clauses
The Moretti Settlement clause outlines the terms and conditions under which a dispute involving a party named Moretti is resolved. Typically, this clause will specify the obligations of each party regarding payments, releases, or actions required to finalize the settlement, and may include timelines or conditions precedent to the settlement's effectiveness. Its core practical function is to provide a clear, enforceable framework for resolving the Moretti-related dispute, thereby preventing further litigation and ensuring all parties understand their responsibilities in concluding the matter.
Moretti Settlement. Upon the occurrence of the Committee Effective Date, the Debtors agree that they shall timely pursue, and the Committee and Plan Sponsors hereby agree that they shall support, a full and final settlement under Federal Bankruptcy Rule 9019 of all Claims related to or arising under the action Moretti v. The Hertz Corporation et al., Case No. 14-cv-00469-LPS (D. Del.), pursuant to which all such Claims shall be Allowed in the aggregate amount of $20,000,000.00 and treated as General Unsecured Claims in accordance with the Plan on terms and conditions that are substantially similar to other class action settlements that have resulted in General Unsecured Claims in the Chapter 11 Cases.