Structured Settlements Clause Samples
The Structured Settlements clause establishes the terms under which payments are made in a series of scheduled installments rather than as a single lump sum. Typically used in the resolution of legal claims, such as personal injury cases, this clause outlines the payment schedule, amounts, and duration, ensuring that the recipient receives regular, predictable income over time. Its core practical function is to provide financial stability for the payee while potentially offering tax advantages and reducing the risk of premature depletion of funds.
Structured Settlements. To fund any agreement providing for periodic payments in satisfaction of a claim. See L.1983, c.919, §2.
Structured Settlements. The parties hereto agree that all arrangements in existence as of the date hereof related to the purchase of structured claims settlements by TPC or any of its Subsidiaries from TIC or its subsidiaries, will continue, on the same economic terms as in existence on the date hereof, until December 31, 2003. During the calendar year 2004, TPC and any of its Subsidiaries will utilize TIC or its subsidiaries as its most preferred provider of such structured settlement claims; provided, TIC or its subsidiaries maintain competitive ratings and its product are competitively priced.
Structured Settlements. Contractor will insure that all structured settlements offered as part of a negotiated settlement are offered in relation to a fixed dollar amount. Under the general supervision of the CCA, Contractor will:
7.5.1 Arrange and purchase annuity policies for payment of structured settlements in accordance with County established guidelines (see Attachment F – Periodic Payment Program Guidelines). The annuity premium will be considered a settlement cost.
7.5.2 Aggressively monitor, handle payments, and report semi-annually on the remaining 59 County self-funded annuities written in the early 1980s, per County established guidelines (see Attachment F – Periodic Payment Program Guidelines). Contractor may retain investigators from time to time to ascertain that the beneficiaries of these self-funded or Executive Life annuities remain alive. Such costs will be allocated to the respective files.
Structured Settlements. The QSF, by and through the Administrator, may purchase and assign any structured settlements created under any release agreements entered into between the Administrator and the Claimant. The Administrator shall also be authorized to enter into non-qualified assignments for the convenience of the Claimants to the extent that attorneys’ fees are to be paid as part of their obligations under existing contingency fee agreements1. Any structured settlement annuity contract shall be issued by a life insurance company that is rated A+ or better by A.M. Best Company.
Structured Settlements. Contractor will insure that all structured settlements offered as part of a negotiated settlement are offered in relation to a fixed dollar amount. Under the general supervision of the CCA, Contractor will:
7.5.1 Arrange and purchase annuity policies for payment of structured settlements in accordance with County established guidelines (see Attachment F - Periodic Payment Program Guidelines). The annuity premium will be considered a settlement cost to be paid from the bank account (see Pararaph 9.0, "Financial and Related Administrative Services Management").
7.5.2 Aggressively monitor, handle payments, and report semi-annually on the remaining 59 County self-funded annuities written in the early 1980s, per County established guidelines (see Attachment F - Periodic Payment Program Guidelines).
Structured Settlements. 58 Section 9.18
Structured Settlements. (a) During the period of time from the Closing Date through the fifth anniversary of the Closing Date, subject to Section 5.3.2(b) of this Agreement, (i) Seller shall use commercially reasonable efforts, and Parent shall cause F&G Life and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Life to use commercially reasonable efforts, to continue the Structured Settlements Program with substantially similar procedures and protocols as those in effect as of the date of this Agreement, including those set forth in Section 5.3.2(a)(i) of Seller's Disclosure Schedule (collectively, the "Protocols") and (ii) Seller shall, and Parent shall cause each of F&G Life and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Life to, use its commercially reasonable efforts to follow the terms and conditions of the Protocols. The Protocols shall include, but need not be limited to, Seller (x) providing F&G Life, in the case of non-New York business, and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Life, in the case of New York business, the right (A) to submit quotes on each potential structured settlement (except where placement of business with F&G Life or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Life would not be allowed under an applicable court order or Law or the Structured Settlement Provider Standards, and (B) of last refusal on matching the lowest quote of other bidders in respect thereof, and (y) purchasing structured settlement annuities from F&G Life or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Life, as the case may be, in accordance with the Protocols. The term "Structured Settlement Provider Standards" shall mean the selection criteria and standards, as revised from time to time and consistently applied by Seller, with respect to selection of providers of structured settlement annuities and funding agreements as to minimum acceptable credit rating, service quality and other similar standards for providers of structured settlement annuities and funding agreements, which criteria and standards as of the date hereof are set forth, in part, in Section 5.3.2(a)(ii) of Seller's Disclosure Schedule.