Opt-Out Election Form definition
Opt-Out Election Form means that certain form by which a Releasing Party may “opt out” of the release set forth in Article X.D.2, in substantially the form approved by the Bankruptcy Court, to be served on all Holders of Claims and Interests with the Notice of Effective Date.
Examples of Opt-Out Election Form in a sentence
A statement that, in the event the Class Member does not return the Opt-Out Election Form, the Class Member will be deemed to have irrevocably chosen to accept Class Member status, to receive the benefits of the Settlement as set forth in this Agreement, and to release all claims against Defendants.
The cut-off date for submitting a completed and signed Opt-Out Election Form (in a form to be agreed by the parties prior to the Agreement Execution Date), which deadline shall be shall be no earlier than 75 days after the Preliminary Approval and no later than 15 days prior to the Final Fairness Hearing, as scheduled by the Court.