SETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT is made this ________ (the "Effective Date") between the following parties:
________, of the following address:
________
(hereinafter referred to as the "Plaintiff" and which expression shall where the context so admits include its successors-in-title and assigns).
AND
________, of the following address:
________
(hereinafter referred to as the "Defendant" and which expression shall where the context so admits include its successors-in-title and assigns).
The Plaintiff and the Defendant may individually referred to as (the "Party" which expression shall where the context so admits include its successors-in-title and assigns) and collectively referred to as the "Parties".
BACKGROUND
A. The Plaintiff filed a complaint against the Defendant on ________ at ________, at ________, suit no: ________ (the "Lawsuit"). A brief facts of the case is as follows:
________
B. The Plaintiff maintains the following causes of action (the "Claims"):
________
C. In the Lawsuit, the Plaintiff is seeking to recover monetary damages to the sum of ₦________ (________) as compensation for the damage caused to the Plaintiff.
D. The Parties have agreed to resolve all Claims and disputes which are the subject matter of the Lawsuit, according to the terms and conditions set in this Agreement.
Therefore, in consideration of the promises and covenants hereinafter contained in this Agreement, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. SETTLEMENT AND PAYMENT
1.1. The Defendant shall pay the sum of ₦________ (________) (the "Settlement Payment") to the Plaintiff as full and complete settlement of all Claims and disputes arising from the Lawsuit.
1.2. Payment shall be made on ________.
1.3. The Defendant undertakes not to accelerate, defer, reduce any payment under this Agreement, or assign their right to make payment to any third party except the Plaintiff voluntary consents to such arrangement.
2. PLAINTIFF'S BENEFICIARY
If payments are to be made after the death of the Plaintiff, such payment shall be made to the following:
________
If the persons or entity designated to receive payment is deceased at the time of the Plaintiff's death, payments should be made to the Plaintiff's estate account.
3. RELEASE AND DISCHARGE
3.1. In consideration of the settlement amount set forth in clause 1 of this Agreement, the Plaintiff hereby waives, releases, and discharges the Defendant his or heirs, legal representatives, administrators, executors from liability
3.2. The Plaintiff admits that this Agreement restrains the Plaintiff from suing or otherwise, presently or any time in the future for the damage/liability described above.
4. ATTORNEY'S FEES
The Defendant shall pay all the Plaintiff's attorney's fees and costs in connection with the Lawsuit, this Agreement, and all claims arising from this Agreement.
5. WARRANTIES AND REPRESENTATIONS OF THE PLAINTIFF
The Plaintiff warrants and represents that no other party has an interest in the Claims and demands outlined in this Agreement, except retains the exclusive right to receive the amounts outlined in this Agreement, and no party has been assigned the right to collect the Settlement Payment, except upon the death of the Plaintiff.
6. ADDITIONAL TERMS
The Party agree to the following additional terms:
________
7. NO ADMISSION OF LIABILITY
The Parties agree that the Defendant does not admit to any liability to the Claims outlined in this Agreement.
8. CONFIDENTIALITY
552 2552828 52522 2552 252 22528 22 2588 825222222 552 822285222858, 525 22 25522 85588 58888282 522 2552 22 2588 25528582822 22 25855 2552828 258222 8585 5888828552 88 52858525 52525 252 858.
9. 288525885588 888 588585588
552 2552828 852 225822 522 2552 22 2588 825222222 8825 252 2525288 8228222 22 252 22525 25522. 52 252 2552828 52522 22 8552 252 222852 825222222, 525 5 228 825222222 88 8525225 22 52258522 252 528528228582 22 252 2552828, 2588 825222222 85588 82 2252825225. 52 522 2552 22 252 22582825 8258822 22 2588 825222222 8282228 8285885 25 5222225825882, 252 522582822 25528 85588 82 85885.
10. NOTICES
All notices under this Agreement shall be in writing. The notices shall be delivered personally or mailed by a certified mail to the Parties at the address written in this Agreement or attorney's address. The Plaintiff's attorney can be contacted as follows:
________
The Defendant's attorney can be contacted as follows:
________
11. GENERAL PROVISIONS
(I) Governing Law: This Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.
(II) Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.
(III) Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
(IV) Headings: Headings in this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.
(V) Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.
(VI) Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
(VII) Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.
(VIII) Counterparts: This Agreement may be executed in several counterparts, all of which constitutes a single agreement between the Parties.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.
SIGNED by the within named Plaintiff
_______________________
________
in the presence of:
Name..................................................................................................................
Address..............................................................................................................
Occupation.........................................................................................................
Signature............................................................................................................
SIGNED by the within named Defendant
_______________________
________
in the presence of:
Name..................................................................................................................
Address..............................................................................................................
Occupation.........................................................................................................
Signature............................................................................................................
SETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT is made this ________ (the "Effective Date") between the following parties:
________, of the following address:
________
(hereinafter referred to as the "Plaintiff" and which expression shall where the context so admits include its successors-in-title and assigns).
AND
________, of the following address:
________
(hereinafter referred to as the "Defendant" and which expression shall where the context so admits include its successors-in-title and assigns).
The Plaintiff and the Defendant may individually referred to as (the "Party" which expression shall where the context so admits include its successors-in-title and assigns) and collectively referred to as the "Parties".
BACKGROUND
A. The Plaintiff filed a complaint against the Defendant on ________ at ________, at ________, suit no: ________ (the "Lawsuit"). A brief facts of the case is as follows:
________
B. The Plaintiff maintains the following causes of action (the "Claims"):
________
C. In the Lawsuit, the Plaintiff is seeking to recover monetary damages to the sum of ₦________ (________) as compensation for the damage caused to the Plaintiff.
D. The Parties have agreed to resolve all Claims and disputes which are the subject matter of the Lawsuit, according to the terms and conditions set in this Agreement.
Therefore, in consideration of the promises and covenants hereinafter contained in this Agreement, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. SETTLEMENT AND PAYMENT
1.1. The Defendant shall pay the sum of ₦________ (________) (the "Settlement Payment") to the Plaintiff as full and complete settlement of all Claims and disputes arising from the Lawsuit.
1.2. Payment shall be made on ________.
1.3. The Defendant undertakes not to accelerate, defer, reduce any payment under this Agreement, or assign their right to make payment to any third party except the Plaintiff voluntary consents to such arrangement.
2. PLAINTIFF'S BENEFICIARY
If payments are to be made after the death of the Plaintiff, such payment shall be made to the following:
________
If the persons or entity designated to receive payment is deceased at the time of the Plaintiff's death, payments should be made to the Plaintiff's estate account.
3. RELEASE AND DISCHARGE
3.1. In consideration of the settlement amount set forth in clause 1 of this Agreement, the Plaintiff hereby waives, releases, and discharges the Defendant his or heirs, legal representatives, administrators, executors from liability
3.2. The Plaintiff admits that this Agreement restrains the Plaintiff from suing or otherwise, presently or any time in the future for the damage/liability described above.
4. ATTORNEY'S FEES
The Defendant shall pay all the Plaintiff's attorney's fees and costs in connection with the Lawsuit, this Agreement, and all claims arising from this Agreement.
5. WARRANTIES AND REPRESENTATIONS OF THE PLAINTIFF
The Plaintiff warrants and represents that no other party has an interest in the Claims and demands outlined in this Agreement, except retains the exclusive right to receive the amounts outlined in this Agreement, and no party has been assigned the right to collect the Settlement Payment, except upon the death of the Plaintiff.
6. ADDITIONAL TERMS
The Party agree to the following additional terms:
________
7. NO ADMISSION OF LIABILITY
The Parties agree that the Defendant does not admit to any liability to the Claims outlined in this Agreement.
8. CONFIDENTIALITY
552 2552828 52522 2552 252 22528 22 2588 825222222 552 822285222858, 525 22 25522 85588 58888282 522 2552 22 2588 25528582822 22 25855 2552828 258222 8585 5888828552 88 52858525 52525 252 858.
9. 288525885588 888 588585588
552 2552828 852 225822 522 2552 22 2588 825222222 8825 252 2525288 8228222 22 252 22525 25522. 52 252 2552828 52522 22 8552 252 222852 825222222, 525 5 228 825222222 88 8525225 22 52258522 252 528528228582 22 252 2552828, 2588 825222222 85588 82 2252825225. 52 522 2552 22 252 22582825 8258822 22 2588 825222222 8282228 8285885 25 5222225825882, 252 522582822 25528 85588 82 85885.
10. NOTICES
All notices under this Agreement shall be in writing. The notices shall be delivered personally or mailed by a certified mail to the Parties at the address written in this Agreement or attorney's address. The Plaintiff's attorney can be contacted as follows:
________
The Defendant's attorney can be contacted as follows:
________
11. GENERAL PROVISIONS
(I) Governing Law: This Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.
(II) Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.
(III) Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
(IV) Headings: Headings in this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.
(V) Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.
(VI) Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
(VII) Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.
(VIII) Counterparts: This Agreement may be executed in several counterparts, all of which constitutes a single agreement between the Parties.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.
SIGNED by the within named Plaintiff
_______________________
________
in the presence of:
Name..................................................................................................................
Address..............................................................................................................
Occupation.........................................................................................................
Signature............................................................................................................
SIGNED by the within named Defendant
_______________________
________
in the presence of:
Name..................................................................................................................
Address..............................................................................................................
Occupation.........................................................................................................
Signature............................................................................................................
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