Defense and Settlement The Receiver shall have the right, in its discretion, to (i) defend or settle any claim or suit against the Assuming Institution with respect to which the Receiver has indemnified the Assuming Institution in the same manner and to the same extent as provided in Article XII, and (ii) defend or settle any claim or suit against the Assuming Institution with respect to any Liability Assumed, which claim or suit may result in a loss to the Receiver arising out of or related to this Agreement, or which existed against the Failed Bank on or before the Bank Closing Date. The exercise by the Receiver of any rights under this Section 9.3(a) shall not release the Assuming Institution with respect to any of its obligations under this Agreement.
Modification of Settlement Agreement Any modification to this Settlement Agreement shall be in writing and signed by the Parties.
Enforcement of Settlement Agreement If one Party alleges the other Party is in breach of this Settlement Agreement, that Party shall notify the other party. The Parties agree to meet and confer in good faith for a period of up to thirty days from the initial notice to attempt to resolve the allegation. If informal efforts fail, any party may file suit before the Superior Court of the County of Los Angeles, consistent with the terms and conditions set forth in this Settlement Agreement, to enforce the terms and conditions contained in this Settlement Agreement. The prevailing party shall be entitled to its reasonable attorneys’ fees and costs associated with such proceeding. This Settlement Agreement may be enforced exclusively by the Parties hereto.
EXECUTION OF SETTLEMENT AGREEMENT This Settlement Agreement may be signed in one or more counterparts which together shall constitute a binding agreement.
Settlement Agreement Respondent understands that Respondent has the right to a formal adjudicatory hearing concerning this matter and that at said hearing