Common use of Offer of Settlement Clause in Contracts

Offer of Settlement. It is a condition precedent to Our liability that You must inform Us in writing as soon as an offer to settle the subject matter of the Claim is received and/or You propose to make an offer of settlement. In deciding whether to accept or reject any settlement offer, You must consider the Legal Expenses incurred or likely to be incurred and recovered. No Services under this Agreement shall be provided if You enter into any agreement to settle without Our prior written consent (this consent not to be unreasonably withheld) and We shall be entitled to recover any Legal Expenses previously paid. If You reject an offer of settlement which We recommend that You accept, or You make an offer with which We do not agree, no further Services under this Agreement shall be provided for the subject matter Claim. We may at Our discretion decide to pay You the amount of damages that You are claiming or that are being claimed against You instead of paying You for Legal Expenses to pursue or defend the dispute or legal proceedings. Where We exercise this discretion, We will cease to be liable for any further Legal Expenses for the subject matter Claim.

Offer of Settlement. It is a condition precedent to Our liability that You must inform Us in writing as soon as an offer to settle the subject matter of the Claim is received and/or You propose to make an offer of settlement. In deciding whether to accept or reject any settlement offer, You must consider to the Legal Expenses incurred or likely to be incurred and recovered. No Services insurance coverage under this Agreement Policy shall be provided if You enter into any agreement to settle without Our prior written consent (this consent not to be unreasonably withheld) and We shall be entitled to recover any Legal Expenses previously paid. If You reject an offer of settlement which We recommend that You accept, or You make an offer with which We do not agree, no further Services insurance coverage under this Agreement Policy shall be provided for the subject matter Claim. We may at Our discretion decide to pay You the amount of damages that You are claiming or that are being claimed against You instead of paying You for Legal Expenses to pursue or defend the dispute or legal proceedings. Where We exercise this discretion, discretion We will cease to be liable for any further Legal Expenses for the subject matter Claim.