Settlement Effective Date. The effective date of this Agreement (the “Settlement Effective Date”) shall be the date on which each of the following conditions to the effectiveness of the settlement set forth herein has been satisfied:
Settlement Effective Date. The “Settlement Effective Date” shall occur on the date, following the Execution Date, that the Required Approval with respect to FERC (as defined in Section 10.1) has been entered, issued, or otherwise obtained and is in full force and effect and not then stayed, notwithstanding that a request for stay, rehearing, or appeal may then be pending. The Settlement Effective Date is not dependent on the occurrence of the Class Action Effective Date.
Settlement Effective Date. “Settlement Effective Date” shall be the date after the day upon which the Settlement has been finally approved by the Court and: (a) any appeals of the Final Approval Order have been resolved with no further rights to appeal; or (b) the time for any appeals from these orders have expired with no appeals having been taken. In the case of no appeal, the Settlement Effective Date will be thirty-one (31) days after the Final Approval Order.
Settlement Effective Date. This Settlement shall become effective upon signature by all Parties. This Settlement may be modified pending the FERC’s review. If the FERC issues final orders acknowledging the Settlement with modifications or conditions, this Settlement shall be considered modified to conform to the terms of those orders unless at least one Party indicates to the other Parties in writing within 30 days after the issuance of such orders its objection to the modification, change or condition. The Parties shall then commence negotiations for a period of up to 90 days to resolve the issue(s) and modify the Settlement as needed. If agreement cannot be reached at the end of the ninety (90) day period, the objecting Party may withdraw from the Settlement by notifying the other Parties in writing within 10 days. If any one of the Parties withdraws, this Settlement shall cease to have any force or effect. If this Settlement is modified to conform to the terms of the FERC orders, as discussed above, it shall be considered officially modified on the latest of the following events: the date when all of the rehearing requests on those orders have been denied; if rehearing is not applied for, the date on which the right to seek rehearing expires; the date upon which all of the Parties agree to the modification of the Settlement. The above shall not preclude a Party from seeking rehearing on the modifications or conditions pursuant to 18 C.F.R 385.713 within the prescribed time limits. However, a Party need not seek rehearing prior to withdrawing from this Settlement. The Request for rehearing shall be withdrawn if the Parties subsequently reach agreement on modifying the Settlement. The terms of this Settlement shall continue in effect, subject to the FERC’s reserved authority under the license to require modifications until the effective date of any FERC order approving surrender of a project under 18 C.F.R. 6.1. For the purposes of this section, the phase that the FERC issues final orders accepting the Settlement with modifications or conditions includes, but is not limited to, the situation where the FERC issues final orders that do not include all of the conditions of this Settlement because the FERC has determined it lacks jurisdiction over those issues.
Settlement Effective Date. The “Settlement Effective Date” shall occur on the latest of the dates that the Required Approvals (as defined in Section 10.1) have been entered, issued, or otherwise obtained and are in full force and effect and not then stayed, notwithstanding that a request for stay, rehearing, or appeal may then be pending.
Settlement Effective Date. (a) The Settlement shall become effective, consummated, and binding upon the Parties upon the first date (the “Settlement Effective Date”) that the following conditions have been satisfied (each, a “Condition Precedent”): (i)
Settlement Effective Date. The settlement embodied in this Settlement Agreement shall become effective after all of the following events have occurred: (i) this Settlement Agreement has been executed by all Parties and by counsel for the Settlement Class and Defendants; (ii) the Court has given preliminary approval to the Settlement; (iii) notice has been given to the putative members of the Settlement Class, providing them with an opportunity to object to the terms of the Settlement or to opt out of the Settlement; (iv) the Court has held a formal fairness hearing and, having heard no objections to the Settlement, entered a final order and judgment certifying the Class and approving this Settlement Agreement; or (v) in the event there are written objections filed prior to the formal fairness hearing which are not later withdrawn or denied, the later of the following events: when the period for filing any appeal, writ or other appellate proceeding opposing the Settlement has elapsed without any appeal, writ or other appellate proceeding having been filed; or any appeal, writ or other appellate proceeding opposing the Settlement has been dismissed finally and conclusively with no right to pursue further remedies or relief; or any appeal, writ or other appellate proceeding has upheld the Court’s final order with no right to pursue further remedies or relief. In this regard, it is the intention of the parties that the Settlement shall not become effective until the Court’s order approving the Settlement is completely final.
Settlement Effective Date. This Settlement Agreement is contingent upon the occurrence of the following ("Effective Date"): (1) the occurrence of the Effective Date as defined in the Plan; and (2) entry of an order or orders of the Bankruptcy Court (a) overruling all objections to the UBS Claims or this Settlement Agreement that may at any time be pending, (b) approving this Settlement Agreement and directing the Bankruptcy Estates to take all actions required to implement this Settlement Agreement, and (c) dismissing with prejudice all adversary proceedings or contested matters brought by any of the Committee, the Bankruptcy Estates or NEAG that at any time may be pending against UBS in any of the cases.
Settlement Effective Date. The “Settlement Effective Date” shall occur on the beginning of the third Business Day following the latest of the following dates: (i) the date when the Required FERC Approval (as defined in Section 7) has been issued, provided that a Material Change Notice has not been timely and properly given by a Sponsoring Party as to such approval in accordance with Section 7.4 (unless the other Sponsoring Parties agree in writing, on or before March 1, 2007, that the Settlement Effective Date has occurred notwithstanding any such Material Change Notice), and (ii) the date when the Required Enron Bankruptcy Court Approval has been received provided that no Material Change Notice has been timely and properly given by a Sponsoring Party as to such approval in accordance with Section 7.4 (unless the other Sponsoring Parties agree in writing, on or before March 1, 2007, that the Settlement Effective Date has occurred notwithstanding any such Material Change Notice). On the Settlement Effective Date, Enron shall provide the Sponsoring Parties and the PX with written notice of the occurrence of the Settlement Effective Date.
Settlement Effective Date. This Agreement will become effective and binding on the Parties on the first business day on which the parties have executed and delivered each of the documents set forth in Article III below (the “Settlement Effective Date”).
