Settling Claimants Clause Samples
The "Settling Claimants" clause defines the procedures and authority for resolving claims made by individuals or entities seeking compensation or remedy under an agreement. Typically, this clause outlines who has the right to negotiate, settle, or otherwise resolve such claims, and may set conditions or limitations on settlements, such as requiring prior approval or adherence to certain standards. Its core function is to streamline the claims resolution process, minimize disputes, and clarify responsibilities, thereby reducing uncertainty and potential liability for the parties involved.
Settling Claimants. To induce the El Paso Settling Parties to give the releases described in Paragraph 5 of this Agreement, and to make the representations, warranties, covenants, and other agreements set forth herein, each Settling Claimant, for itself, agrees to:
a. give the El Paso Releasees the releases applicable to it described in Paragraph 5 of this Agreement;
b. cooperate with the El Paso Settling Parties (and to the extent applicable, the El Paso Releasees) as more fully set forth herein, including, without limitation, in Paragraphs 5.7, 8.3(c), 8.8, and 12.6 of this Agreement; and
c. include in the allocation process claims of California municipalities and California state and municipal departments and agencies that are non-core gas customers (excluding those that purchased gas for resale or for generation of electricity for resale) on a pro rata basis.
Settling Claimants. The Settling Claimants or their designee(s) may terminate this Agreement if there has been a material misrepresentation, a material breach of warranty, or a material failure to comply with any covenant or agreement on the part of any of the El Paso Settling Parties with respect to their representations, warranties, covenants or agreements set forth herein, and such misrepresentation, breach, or failure to comply has not been cured in all material respects within ten (10) Business Days of receipt by El Paso from the Designated Representative of written notice thereof.
Settling Claimants. The Settling Claimants or their designee(s) may terminate this Agreement prior to the Closing Date if there has been a material misrepresentation, a material breach of warranty, or a material failure to comply with any covenant or agreement on the part of any of the Sempra Parties with respect to their representations, warranties or covenants set forth herein, and such misrepresentation, breach, or failure to comply has not been cured in all material respects within ten (10) Business Days of receipt by the Sempra Parties from the Designated Representative of written notice thereof.
Settling Claimants. 97 a. Timing of Payment for Settling Breast Implant 97 Claimants........................................
Settling Claimants. Settling Claimants have executed the Releases attached hereto as Exhibit A and have provided Plaintiffs’ Counsel stipulated dismissals substantially in the form attached hereto as Exhibit D. Subject to Section 3.2, no Settling Claimant may withdraw a Release or otherwise terminate or withdraw from the Agreement.
Settling Claimants. The Proponents believe that the Plan provides efficient processes for resolving settling Claims as quickly as possible. Settling Personal Injury Claims will be processed through a Claims Office using the personnel, facilities and, in substantial part, the protocols of the existing MDL 926 Claims Office. By adopting the existing personnel, facilities and procedures, the Plan Proponents expect to avoid the inherent delay and expense associated with establishing a new claims processing facility. Accordingly, the Proponents anticipate that Claims processing operations will begin promptly after the Effective Date. A. TIMING OF PAYMENT FOR SETTLING BREAST IMPLANT CLAIMANTS. The Plan calls for the Settlement Facility to begin making First Priority Payments, as soon as Claimants qualify, within the first year after the Plan becomes effective. The Proponents believe that during the first several years the timing of payments will be affected by two factors: the speed with which Claimants prepare and submit Claim Forms and documents and the rate at which the Claims Office can review and evaluate Claims. Since the Facility will apply the criteria and protocols of the Revised Settlement Program, the Proponents believe that the Claims Office should be able to process and pay Settling Breast Implant Claims at least as quickly as the Revised Settlement Program. The Proponents expect that up to half of the First Priority Payments could be made within the first three years and approximately two-thirds of the First Priority Payments could be made within the first four years. Because of their lower priority under the Plan and because of the Annual Payment Ceilings specified in the Funding Payment Agreement, the Second Priority Payments ("Premium" payments) for most Claimants will likely be paid later--so that Breast Implant Claimants will first receive their "Base" Payments and then, at a later date, receive the "Premium" payments. The Proponents expect that Claimants will likely begin to receive "Premium" payments some years after the Effective Date. This means that those Claimants who receive the earliest First Priority Payments may receive their "Premium" payments several years after distribution of First Priority Payments. B. TIMING OF PAYMENT FOR SETTLING SILICONE MATERIAL CLAIMANTS. Under the Plan the Claims Office must first receive and evaluate every Silicone Material Claim before distributing any payments to such Claimants. Because there is a two-year deadline for su...
Settling Claimants. Because the aggregate amount available for Settling Claims is capped, the Plan does not guarantee each individual Claimant's payment. This means that if the value of all Settling Claims (as Page 94
Settling Claimants. Except for Opus Trust and ▇▇▇▇▇▇▇▇, no other person, partnership, corporation, joint venture, limited liability company or other form of organization or association of any kind has any right, title or interest in or to the BION Stock or the Units.