Common use of Preliminary Approval Motion Clause in Contracts

Preliminary Approval Motion. As soon as practical, Plaintiffs will move the Court for entry of the Preliminary Approval Order, attached hereto as Exhibit B. The Preliminary Approval Order shall provide, inter alia, that: 4.2.1 The settlement proposed in the Agreement has been negotiated at arm’s-length and is preliminarily determined to be fair, 4.2.2 The Notice fully complies with the requirements of Rule 23 and due process, constitutes the best notice practicable under the circumstances, and is due and sufficient notice to all persons entitled to notice of this Agreement; 4.2.3 The Settlement Class is conditionally certified, with the Plaintiffs serving as class representatives, and the Class Counsel serving as Settlement Class counsel, on the condition that the certification and designations shall be automatically vacated if the Settlement is terminated or is disapproved in whole or in part by the Court, any appellate court, or any of the Parties; 4.2.4 A final hearing on the settlement proposed in this Agreement shall be held before the Court to determine whether the proposed settlement is fair, reasonable, and adequate, and whether it should be approved by the Court (“Fairness Hearing”); 4.2.5 In further aid of the Court’s jurisdiction to review, consider, implement and enforce the settlement, Plaintiffs and members of the Settlement Class, and all persons acting or purporting to act directly or derivatively on behalf if a person in the Settlement Class, are preliminarily enjoined and barred from commencing, prosecuting, or otherwise litigating, in whole or

Preliminary Approval Motion. As soon A. Upon complete execution of this Agreement, Class Counsel shall file a Motion for Preliminary Settlement Approval (“Preliminary Approval Motion”). In connection with the Preliminary Approval Motion, Class Counsel will submit to the Court: (1) the proposed Notice; (2) the proposed Claim Form; (3) the proposed Preliminary Approval Order; and (4) an executed version of this Agreement. B. In the Preliminary Approval Motion, Class Counsel shall inform the Court of the intended process to obtain a “Final Order” in accordance with the Court-approved schedule, so that at the completion of the Fairness Hearing, the Court may, among other things: (1) approve the settlement as practicalfair, adequate and reasonable; (2) incorporate the terms of the releases, as set forth in Section 3.7 hereof; (3) dismiss the Action with prejudice; (4) award Class Counsel’s Costs and Fees, including, but not limited to, the Settlement Claims Administrator’s professional fees and costs, (5) award the Service Award; and (6) authorize distribution and payment to the Authorized Claimants. C. Plaintiffs will move the Court for entry provide a “Microsoft Word” version of the Preliminary Approval OrderMotion, attached hereto including the Memorandum of Law and Declaration in Support, to Defendants’ Counsel reasonably in advance of any deadline to file the same for review and comment and upon completion of such review, file the motion as Exhibit B. The Preliminary Approval Order shall provide“unopposed.” Defendants reserve the right to oppose such application, inter aliahowever, that: 4.2.1 The settlement proposed in the Agreement has been negotiated at arm’s-length and if it is preliminarily determined to be fair, 4.2.2 The Notice fully complies inconsistent with the requirements of Rule 23 terms and due process, constitutes the best notice practicable under the circumstances, and is due and sufficient notice to all persons entitled to notice conditions of this Agreement; 4.2.3 The Settlement Class is conditionally certified, with the Plaintiffs serving as class representatives, and the Class Counsel serving as Settlement Class counsel, on the condition that the certification and designations shall be automatically vacated if the Settlement is terminated or is disapproved in whole or in part by the Court, any appellate court, or any of the Parties; 4.2.4 A final hearing on the settlement proposed in this Agreement shall be held before the Court to determine whether the proposed settlement is fair, reasonable, and adequate, and whether it should be approved by the Court (“Fairness Hearing”); 4.2.5 In further aid of the Court’s jurisdiction to review, consider, implement and enforce the settlement, Plaintiffs and members of the Settlement Class, and all persons acting or purporting to act directly or derivatively on behalf if a person in the Settlement Class, are preliminarily enjoined and barred from commencing, prosecuting, or otherwise litigating, in whole or.