Settle Claims Clause Samples
The "Settle Claims" clause establishes the procedures and authority for resolving or settling claims that arise under a contract. Typically, it outlines who has the right to negotiate, approve, or reject settlements, and may specify the process for documenting and finalizing any agreements reached. For example, it might require written consent from both parties before a claim can be settled or set limits on the amounts that can be settled without higher-level approval. The core function of this clause is to ensure that claims are handled efficiently and with proper oversight, reducing the risk of unauthorized settlements and potential disputes over claim resolution.
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Settle Claims. To accept, compromise, arbitrate or otherwise settle any obligation, liability or claim involving this Trust, including any claim asserted for taxes under present or future law. The Trustees may also enforce or contest any such obligation, liability or claim by appropriate legal proceedings, but they shall not be obliged to do so unless, in their judgement, it is in the best interests of the Trust to do so.
Settle Claims. To compromise, settle, or abandon claims in favor of or against the Trust.
Settle Claims. To settle, compromise, or submit to arbitration any claims, debts, or damages to or owing to or from the Trust Fund, to commence or defend suits or legal or administrative proceedings, and to represent the Trust Fund in all suits and legal and administrative proceedings;
Settle Claims. To accept, compromise, arbitrate or otherwise settle any obligation, liability or claim involving this Trust, including any claim asserted for taxes under present or future law. This includes any matters raised by government agencies, such as the Department of Labor, Internal Revenue Service, California Franchise Tax Board or any similar agency. The Trustees may also enforce or contest any such obligation, liability or claim by appropriate legal proceedings, but they shall not be obliged to do so unless, in their judgment, it is in the best interests of the Trust to do so.