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 underpaid and unpaid interest for payments made during the Claim Period will be released and discharged.
“Claim Period” means the period of time prior to the entry of the Judgment in this Litigation.
“Released Claims” include all claims that the Releasing Parties may have against the Released Parties related to or arising from payments of proceeds from the sale of oil or gas to Class Members or any of their predecessors, successors, or assigns, during the Claim Period, by Defendant (or by any person or entity making payments on Defendant’s behalf) that were allegedly (i) late, untimely, or delayed; or (ii) did not include the proper amount of interest under the Production Revenue Standards Act, 52 O.S. §570.1, et seq. (the “PRSA”), or any other applicable statute or regulation. As used in this paragraph, “claims” include without limitation any assertion, allegation, claim, demand, right, debt, request for payment, cause of action, liability, loss, damage (including without limitation incidental, consequential, exemplary, or punitive damages), deficiency, remedy, judgment, lien, penalty, cost, expense, attorney fee, interest, suit, or proceeding of every kind, at law or in equity, regardless of whether any of the foregoing are asserted or unasserted, now known or hereinafter discovered, matured or unmatured, or accrued, contingent, or potential, and regardless of whether any of the foregoing have resulted now or could result in the future in the commencement of a lawsuit, filing of a claim, or a legal proceeding of whatsoever kind, and regardless of whether any of the foregoing have resulted now or could result in the future in a final and appealable order, ruling, or judgment. The Released Claims include without limitation all claims asserted, made, alleged, or described in the Petition, as well as any claims for any alternative legal theories that relate to such late, untimely, or delayed payments or interest by Defendant (or on its behalf) of oil and gas production proceeds. The Released Claims expressly do not include any claims other than those related to such late, untimely, or delayed payments or interest by Defendant (or on its behalf) and do not include claims for underpayment of royalty that are not based on late, untimely, or delayed payments or the improper amount of interest thereon.
“Released Parties” means Defendant (including under its previous name Unimark L.L.C.); its parents and affiliates; each of their respective predecessors, members, managers, owners, employees, officers, directors, stockholders, partners, agents, consultants, servants, attorneys, insurers, subsidiaries, assignors, and other representatives, and all of the foregoing persons’ and entities’ heirs, successors and assigns.
“Releasing Parties” means Plaintiff and the Class Members, and each of their respective parents, affiliates, predecessors, members, managers, owners, employees, officers, directors, stockholders, partners, agents, consultants, servants, attorneys, insurers, subsidiaries, assignors, and other representatives, and all of the foregoing persons’ and entities’ heirs, successors and assigns.