Common use of No Settlements Clause in Contracts

No Settlements. Subject to the provisions of the Interparty Agreement and the other Completion Documents, until Completion Guarantor shall, in writing, be irrevocably, fully, and forever released and discharged from all of its obligations, liabilities, and debts under the Completion Documents, no insurance claim in respect of any insurance coverage obtained pursuant hereto shall be settled, other than claims of a minor nature (i.e., claims for one thousand dollars or less), unless Completion Guarantor shall give its specific written approval to such settlement in each instance. If there is a dispute between the insurer and Producer concerning Producer's recovery under the coverage provided by any such insurance coverage, then the following provisions shall apply: 8.5.1 If either (a) Abandonment is threatened, or (b) the outcome of the dispute may (as determined by Completion Guarantor in its good faith business judgment) increase the likelihood that Completion Guarantor will need to advance Completion Sums or Takeover (but Completion Guarantor has not already had to advance Completion Sums or Takeover), then Producer shall (i) discuss the reimbursement dispute with Completion Guarantor and otherwise comply with the explanation and meeting provisions set forth herein, (ii) give to Completion Guarantor copies of all proposed correspondence with the insurer for Completion Guarantor's timely comment or approval before giving the same to the insurer, and (iii) give full consideration to the views and proposals of Completion Guarantor to determine what steps need to be taken to resolve any such dispute; and 8.5.2 If Completion Guarantor determines that Producer is putting Completion Guarantor at risk of having to advance Completion Sums or Takeover, or Completion Guarantor has already had to advance Completion Sums or Takeover, then Completion Guarantor shall have the right to solely and exclusively control all interaction with the insurer.

No Settlements. Subject to the provisions of the Interparty Agreement and the other Completion Documents, until Completion Guarantor shall, in writing, be irrevocably, fully, fully and forever released and discharged from all of its obligations, liabilities, and debts under the Completion Documents, no insurance claim in respect of any insurance coverage obtained pursuant hereto shall be settled, other than claims of a minor nature (i.e., claims for one thousand dollars or less), unless Completion Guarantor shall give its specific written approval to such settlement in each instance. If there is a dispute between the insurer and Producer concerning Producer's recovery under the coverage provided by any such insurance coverage, then the following provisions shall apply: 8.5.1 If either (a) Abandonment is threatened, or (b) the outcome of the dispute may (as determined by Completion Guarantor in its good good-faith business judgment) increase the likelihood that Completion Guarantor will need to advance Completion Sums or Takeover (but Completion Guarantor has not already had to advance Completion Sums or Takeover), then Producer shall (i) discuss the reimbursement dispute with Completion Guarantor and otherwise comply with the explanation and meeting provisions set forth herein, (ii) give to Completion Guarantor copies of all proposed correspondence with the insurer for Completion Guarantor's timely comment or approval before giving the same to the insurer, and (iii) give full consideration to the views and proposals of Completion Guarantor to determine what steps need to be taken to resolve any such dispute; and 8.5.2 If Completion Guarantor determines that Producer is putting Completion Guarantor at risk of having to advance Completion Sums or Takeover, or Completion Guarantor has already had to advance Completion Sums or Takeover, then Completion Guarantor shall have the right to solely and exclusively control all interaction with the insurer.

No Settlements. Subject to the provisions of the Interparty Agreement and the other Completion Documents, until Completion Guarantor shall, in writing, be irrevocably, fully, fully and forever released and discharged from all of its obligations, liabilities, and debts obligations under the Completion Documents, no insurance claim in respect of any insurance coverage obtained pursuant hereto shall be settled, other than claims of a minor nature (i.e., claims for one thousand dollars or less), unless Completion Guarantor shall give its specific written approval to such settlement in each instance. If there is a dispute between the insurer and Producer concerning with regard to Producer's recovery under the coverage provided by any such insurance coverage, then the following provisions shall apply: 8.5.1 If either (a) Abandonment is threatened, or (b) the outcome of the dispute may (as determined by Completion Guarantor in its good good-faith business judgment) increase the likelihood that Completion Guarantor will need to advance Completion Sums or Takeover (but Completion Guarantor has not already had to advance Completion Sums or Takeover), then Producer shall (i) discuss the reimbursement dispute with Completion Guarantor and otherwise comply with the explanation and meeting provisions set forth herein, (ii) give to Completion Guarantor copies of all proposed correspondence with the insurer for Completion Guarantor's timely comment or approval before prior to giving the same to the insurer,, and (iii) give full consideration to the views and proposals of Completion Guarantor in order to determine what steps need to be taken to resolve any such dispute; and 8.5.2 If Completion Guarantor determines that Producer is putting Completion Guarantor at risk of having to advance Completion Sums or Takeover, or Completion Guarantor has already had to advance Completion Sums or Takeover, then Completion Guarantor shall have the right to solely and exclusively control all interaction with the insurer.

No Settlements. Subject to the provisions of the Interparty Agreement and the other Completion Documents, until Completion Guarantor shall, in writing, be irrevocably, fully, fully and forever released and discharged from all of its obligations, liabilities, and debts under the Completion Documents, no insurance claim in respect of any insurance coverage obtained pursuant hereto shall be settled, other than claims of a minor nature (i.e., claims for one thousand dollars or less), unless Completion Guarantor shall give its specific written approval to such settlement in each instance. If there is a dispute between the insurer and Producer concerning with regard to Producer's recovery under the coverage provided by any such insurance coverage, then the following provisions shall apply: 8.5.1 If either (a) Abandonment is threatened, or (b) the outcome of the dispute may (as determined by Completion Guarantor in its good good-faith business judgment) increase the likelihood that Completion Guarantor will need to advance Completion Sums or Takeover (but Completion Guarantor has not already had to advance Completion Sums or Takeover), then Producer shall (i) discuss the reimbursement dispute with Completion Guarantor and otherwise comply with the explanation and meeting provisions set forth herein, (ii) give to Completion Guarantor copies of all proposed correspondence with the insurer for Completion Guarantor's timely comment or approval before prior to giving the same to the insurer,, and (iii) give full consideration to the views and proposals of Completion Guarantor in order to determine what steps need to be taken to resolve any such dispute; and 8.5.2 If Completion Guarantor determines that Producer is putting Completion Guarantor at risk of having to advance Completion Sums or Takeover, or Completion Guarantor has already had to advance Completion Sums or Takeover, then Completion Guarantor shall have the right to solely and exclusively control all interaction with the insurer.