Settlement Agreement Effective Clause Samples

The 'Settlement Agreement Effective' clause defines the point at which a settlement agreement becomes legally binding and enforceable between the parties. Typically, this clause specifies that the agreement takes effect upon the occurrence of a particular event, such as the date of signing by all parties or the fulfillment of certain conditions. For example, it may state that the agreement is effective once both parties have executed the document or after court approval if required. The core function of this clause is to provide certainty about when the parties' obligations and rights under the settlement begin, thereby preventing disputes over the timing of enforceability.
Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date.
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Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date. (2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”): (a) the prompt, complete and final dismissal with prejudice of the ▇▇▇▇ Action and the Oun Action as against the Settling Defendants without costs and without prejudice to the named plaintiffs being able to participate in any distribution of the Settlement Amount; and (b) the prompt, complete and final discontinuance of the ▇▇▇▇▇▇▇▇ Actions as against the Settling Defendants, without costs and without prejudice to the named plaintiffs being able to participate in any distribution of the Settlement Amount.
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Settlement Agreement Effective. The Closing (as that term is defined under the Settlement Agreement) under that certain Settlement Agreement dated March 29, 2000 (the "Settlement Agreement") between the parties of even date herewith shall have occurred.
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Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date. (2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”): (a) the prompt, complete and final discontinuance without costs of the Proceedings as against the Discontinuance Defendants; (b) the prompt, complete and final dismissal with prejudice and without costs of the Oun Action as against the Settling Defendants and the named Discontinuance Defendants; and (c) the discontinuance by the Superior Court of Quebec of the application to authorize a class action against the Settling Defendants and the Discontinuance Defendants in the ▇▇▇▇▇▇▇▇ Action, without costs.
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Settlement Agreement Effective. Except as specifically amended or modified hereby, the Settlement Agreement is and will remain in full force and effect pursuant to its terms.
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Settlement Agreement Effective. (1) This Settlement Agreement shall only become final on the Effective Date. (2) The Parties agree that each of the following is a condition of this Settlement Agreement becoming final (together, the “Conditions of Settlement”): (a) the prompt, complete and final dismissal with prejudice of the ▇▇▇▇ Action as against the Settling Defendant; and (b) the prompt, complete and final discontinuance of the ▇▇▇▇▇▇▇▇ Action as against the Settling Defendant.
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Related to Settlement Agreement Effective

  • Agreement Effective Date This Agreement shall become effective and binding upon each Party immediately following the occurrence of the following conditions (the “Agreement Effective Date”): (a) Honeywell has executed and delivered counterpart signatures to this Agreement to each other Party; (b) Oaktree has executed and delivered counterpart signatures to this Agreement to each other Party; (c) Centerbridge has executed and delivered counterpart signatures to this Agreement to each other Party; (d) ▇▇▇▇▇▇▇ has executed and delivered counterpart signatures to this Agreement to each other Party; (e) The Requisite Additional Investors have executed and delivered counterpart signatures to this Agreement to each other Party; and (f) The Requisite Consenting Noteholders have executed and delivered counterpart signatures to this Agreement to each other Party. Notwithstanding the occurrence of the Agreement Effective Date, this Agreement contemplates, that, upon the consent of Honeywell, the Plan Sponsors, the Requisite Additional Investors, and the Requisite Consenting Noteholders (which consent of such Parties shall not be unreasonably withheld, conditioned, or delayed), (i) the Consenting Lenders may become Parties upon execution and delivery of counterpart signature pages of this Agreement to counsel to each other Party and at such time those Prepetition Lenders shall become obligated under this Agreement, (ii) Additional Consenting Noteholders may become Parties upon execution and delivery of counterpart signature pages of this Agreement to counsel to each other Party and at such time those Senior Noteholders shall become obligated under this Agreement, and (iii) the Consenting Equityholders may become Parties upon execution and delivery of counterpart signature pages of this Agreement to counsel to each other party and at such time the Consenting Equityholders shall become obligated under this Agreement. For the avoidance of doubt, if there is a subsequent Termination Date (defined in Section 9.07) pursuant to Section 9.02 or Section 9.06 with respect to the Debtors, any and all provisions of the Agreement referencing “S&C,” the “Debtor,” or “Debtors” are, and shall continue to be, in full force and effect with respect to the Commitment Parties as if such provisions were written without reference to “S&C,” the “Debtor,” or “Debtors,” and this Agreement shall continue to be in full force and effect with respect to each other Party hereto. Further, for the avoidance of doubt, (i) if the Prepetition Lenders never become a Party, any and all provisions of the Agreement referencing “▇▇▇▇▇▇,” “Prepetition Lenders,” “Consenting Lenders,” or “Requisite Consenting Lenders” are, and shall continue to be, in full force and effect with respect to the other Commitment Parties as if such provisions were written without reference to those terms and this Agreement shall be in full force and effect with respect to each other Party hereto; and (ii) if Consenting Equityholders other than the Plan Sponsors and the Additional Investors never become a Party, any and all provisions of the Agreement referencing “Consenting Equityholders” or “Requisite Consenting Equityholders” are, and shall continue to be, in full force and effect with respect to the other Commitment Parties as if such provisions were written without reference to those terms and this Agreement shall be in full force and effect with respect to each other Party hereto. Signature pages executed by the Parties set forth in Section 1(a) through (f) shall be delivered to: (a) ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇ LLP (“K&E”), legal counsel to Honeywell; (b) Milbank LLP (“Milbank”), legal counsel to the Plan Sponsors; (c) ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ (“S&C”), legal counsel to the Debtors; (d) ▇▇▇▇▇ Day, legal counsel to the Additional Investors; (e) Ropes & ▇▇▇▇ LLP (“R&G”), legal counsel to the Consenting Noteholders; and (f) if applicable, legal counsel to the ad hoc committee of Prepetition Lenders, ▇▇▇▇▇▇, ▇▇▇▇ & ▇▇▇▇▇▇▇▇, (“▇▇▇▇▇▇”). Each Commitment Party intends to be and is bound under this Agreement with respect to any and all claims against, or interests in, any of the Debtors, whether currently held or hereafter acquired by such Commitment Party.

  • Amendment Effective Date This Agreement and the provisions contained herein shall become effective as of the Amendment Effective Date.