Unless you exclude yourself from the Settlement Class, if the Settlement is approved, you will be a participating Class Member. As a participating Class Member, you will receive any portion of the Net Settlement Fund allocated to you and will be bound by all orders and judgments entered by the Court regarding the Settlement. If the Settlement is approved, you will not be able to sue, continue to sue, or be part of any other lawsuit against any of the Released Parties concerning any of the Released Claims.
If the Court enters a final order approving the Settlement, all Class Members, on behalf of the “Releasing Parties,” will release any “Released Claims” they have against the “Released Parties.” This means that if you remain a member of the Settlement Class, any and all claims related to unpaid statutory interest during the Claim Period will be released and discharged.
“Claim Period” means any time up to and including June 1, 2019.
“Released Claims” means all claims and damages asserted in the Third Amended Complaint (statutory, contract, tort, equitable, punitive, and other relief), and all claims and damages arising from any legal or equitable theory related to statutory interest on Untimely Payments made by Defendant directly to Owners or to various state agencies as unclaimed or abandoned property during the Claim Period for O&G Proceeds from Oklahoma Wells which did not also include the statutory interest prescribed by the PRSA. This shall not include claims excluded from the scope of Released Claims in the last paragraph of this Section 1.36. The release of Released Claims will be effective as against a Settlement Class Member without regard to whether a Settlement Class Member actually received a payment from the Net Settlement Fund and without regard to whether any payment received was correctly determined.
Released Claims do not include: (a) claims of Owners for statutory interest on Untimely Payments made by Defendant after May 31, 2019; (b) claims for breach of obligations to Settlement Class Members to develop Oklahoma oil and gas leases and failure to prevent offset drainage; (c) claims for PSRA statutory interest on royalty owner claims that royalty has been underpaid based on express and/or implied covenants of oil and gas leases or force pooling orders; and (d) any other claims that Class Members may have against Defendant other than specific statutory interest claims under the PRSA set out in the first sentence of this Section 1.36.
Defendant mutually releases any claims concerning statutory interest on Untimely Payments under the PRSA it has or could have asserted against Plaintiff and the Settlement Class in this Litigation.
“Released Parties” means Newfield and its former or present parents (including but not limited to Encana Corporation and Encana Oil & Gas (USA) Inc.), subsidiaries, and affiliates (entities which own an interest in Newfield, or in which Newfield owns an interest), and any and all of its former or present officers, directors, employees, agents, attorneys, board members, successors, assigns, and consultants.
“Releasing Parties” means Chieftain and all Settlement Class Members who do not timely and properly opt-out or submit a request for exclusion from the Settlement, and who are not otherwise excluded from the Settlement Class by order of the Court. All members of the Settlement Class who do not timely and properly submit Requests for Exclusion and who are not otherwise excluded from the Settlement Class by order of the Court and their heirs, successors, and assigns will be enjoined by the Court in the Judgment from filing or prosecuting Released Claims.