AGGREGATE SETTLEMENT Sample Clauses
The Aggregate Settlement clause defines how multiple claims or disputes are resolved collectively rather than individually. In practice, this clause allows parties to combine several related claims into a single settlement process, which can streamline negotiations and reduce administrative costs. Its core function is to provide efficiency and consistency in resolving numerous similar claims, thereby minimizing the time and resources required for separate settlements and reducing the risk of inconsistent outcomes.
AGGREGATE SETTLEMENT. Often times in cases where Attorneys represent multiple clients in similar litigation, the opposing parties or defendants attempt to settle or otherwise resolve Attorneys’ cases in a group or groups, by making a single settlement offer to settle a number of cases simultaneously. There exists a potential conflict of interest whenever attorneys represent multiple clients in a settlement of this type because it necessitates choices concerning the allocation of limited settlement amounts among the multiple clients. However, if all clients consent, a group settlement can be accomplished and a single offer can be fairly distributed among the clients by assigning settlement amounts based upon the strengths and weaknesses of each case, the relative nature, severity and extent of injuries, and individual case evaluations. In the event of a group or aggregate settlement proposal, Attorneys may implement a settlement program, overseen by a referee or special master, who may be appointed by a court, designed to ensure consistency and fairness for all claimants, and which will assign various settlement values and amounts to each client’s case depending upon the facts and circumstances of each individual case. District authorizes Attorneys to enter into and engage in group settlement discussions and agreements which may include District’s individual claims. Although District authorizes Attorneys to engage in such group settlement discussions and agreements, District will still retain the right to approve, and Attorneys are required to obtain District’s approval of, any settlement of District’s case.
AGGREGATE SETTLEMENT. Company will typically deposit funds received to the designated Institution bank account in four (4) banking days.