Settlement Release definition

Settlement Release means a full and absolute Settlement Release of the Cobalt Individual Defendants from the unpaid balance, if any, of the Settlement Amount, as well as a full and absolute release of the Debtors, in the form attached as Exhibit D to this Settlement Agreement, to be executed by Plaintiffs and provided to the Cobalt Settling Defendants and the Debtors following the final termination of all D&O Coverage Litigation involving the Insurers or D&O Liability Insurance Policies, or, pursuant to ¶ 22, executed in advance and held in escrow by counsel for the Plan Administrator and Cobalt Individual Defendants.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Settlement Release means the release that must be executed by a Settlement Offer Recipient or any Litigation Option Claimant that accepts a Judgment Offer prior to receiving a payment from the Settlement Facility. The Settlement Release shall be a full release of the Claimant’s Asbestos Claim, as well as a full release from any family members or similar parties for Claims derivative of the Asbestos Claim. Such release shall comply with applicable state or other law and shall acknowledge that the settlement payment extinguishes the Asbestos Claim and all derivative claims against the Reorganized Debtors and any Released Party, and shall relinquish such Claimant’s and all Related Claimants’ right to pursue a remedy from the Reorganized Debtors and any Released Party on account of such Asbestos Claim and any derivative claims. The Settlement Release shall be in a form that protects the Reorganized Debtors and any Released Party from any contribution or other third-party claims by other asbestos defendants under applicable law. Unresolved Asbestos Claimants whose Claims are based on non-malignant conditions shall not, however, be required to release Asbestos Claims based on future asbestos- related cancer. The protection afforded by the Settlement Release is supplemental to, and does not derogate from or imply any deficiency in, the protection provided by the Discharge Injunction.

Settlement Release means the release and waiver by the Settlement Class described in Section 8.1, which will take effect upon entry of the Settlement Approval Order in the Action.

Examples of Settlement Release in a sentence

• The Undersigned is a “Wholesale Customer”, as defined in the CR-3 Settlement Release, and Acquisition Agreement (the “Agreement”) to which this Consent and Joinder is attached.

• On the WAPCo Settlement Release Date, the Borrower shall offer in writing pursuant to reasonable procedures to be established by the Administrative Agent to prepay the Tranche B Borrowings in an aggregate amount equal to 100% of the amounts remaining in the WAPCo Settlement Account.

• Subject to Section 3 below, for a period of two years following the date of this Settlement, Release and Termination, each Shareholder and Bionik shall not take any action which directly or indirectly would, or could reasonably be expected to, disparage or otherwise damage the reputation of OA as they relate to the Shareholder Claims or Corporate Claims, as applicable, released pursuant to this Agreement.

• Subject to Section 3 below, for a period of two years following the date of this Settlement, Release and Termination, OA shall not take any action which directly or indirectly would, or could reasonably be expected to, disparage or otherwise damage the reputation of US Bionik, Bionik or the Shareholders as they relate to the OA Claims released pursuant to this Agreement.

• To the extent permitted by Section 7 of the Settlement, Release and License Agreement among American Video Graphics, L.P., AV Graphics, L.L.C. and Gateway, among others (the “AVG Agreement”), and the provisions therein applying to “the acquirer of all or substantially all of ...

• The Conveyance also shall expressly be made subject to the terms of the Full Settlement, Release, and Indemnity Agreement, the Amended Eagleford-Stratex JDA, this Agreement, and the Operating Agreement.

• On and after the Capped Combination Settlement Release Date, if at all, the Company may from time to time elect a different Conversion Settlement Method by written notice of such election (the “Settlement Notice”) to Holders, the Trustee and the Conversion Agent.

• Notwithstanding anything to the contrary, the Company must elect Cash Settlement to settle its Make-Whole Obligation for any conversion with a Conversion Date that occurs before the Capped Combination Settlement Release Date.

• If the Company elects Combination Settlement in accordance with these provisions but omits to elect a Cash Amount, then the Cash Amount will be deemed to be (x) the Capped Combination Settlement Cash Amount for all conversions with a Conversion Date that is before the Capped Combination Settlement Release Date; and (y) $1,000 in all other cases.

• Such conveyance shall contain a special warranty of title and shall expressly be made subject to the terms of the Full Settlement, Release and Indemnity Agreement, the Amended Eagleford-Stratex JDA, this Agreement, and the Operating Agreement.

More Definitions of Settlement Release

Settlement Release means the document attached hereto as Exhibit B.

Settlement Release means the general settlement release attached hereto as Exhibit A.

Settlement Release means any transfer of any amount from the Disbursement Account to a bank account designated by the Company made in accordance with Clause 7.1 (Settlement Release and prepayment (Equity True-Up Amount)).