Common use of Collateral Sources Clause in Contracts

Collateral Sources. Payments that constitute collateral source compensation. The amount of compensation shall be reduced by all collateral source compensation the claimant has received or is entitled to receive as a result of the terrorist-re- lated aircraft crashes of September 11, 2001, or debris removal in the imme- diate aftermath, including life insur- ance, pension funds, death benefits pro- grams, payments by Federal, State, or local governments related to the terrorist- related aircraft crashes of September 11, 2001, or debris removal and payments made pursuant to the settlement of a civil action as de- scribed in section 405(c)(3)(C)(iii) of the Act. In determining the appropriate collateral source offset for future ben- efit payments, the Special Master may employ an appropriate methodology for determining the present value of such future benefits. In determining the ap- propriate value of offsets for pension funds, life insurance and similar collat- eral sources, the Special Master may, as appropriate, reduce the amount of offsets to take account of self- con- tributions made or premiums paid by the victim during his or her lifetime. In determining the appropriate collat- eral source offset for future benefit payments that are contingent upon one or more future event(s), the Special Master may reduce such offsets to ac- count for the possibility that the fu- ture contingencies may or may not occur. In cases where the recipients of collateral source compensation are not beneficiaries of the awards from the Fund, the Special Master shall have discretion to exclude such compensa- tion from the collateral source offset where necessary to prevent bene- ficiaries from having their awards re- duced by collateral source compensa- tion that they will not receive.

Appears in 4 contracts

Samples: Confidentiality Agreement, Confidentiality Agreement, Confidentiality Agreement

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