Voluntary Compromise Clause Samples

A Voluntary Compromise clause allows the parties to a contract or dispute to mutually agree to settle their differences without proceeding to a formal judgment or arbitration. This clause typically outlines the process by which both sides can negotiate and reach a settlement, often specifying that any agreement reached is binding and may include terms such as payment, release of claims, or other concessions. Its core practical function is to provide a structured mechanism for resolving disputes amicably, saving time and costs associated with litigation, and offering flexibility in crafting mutually acceptable solutions.
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Voluntary Compromise. The Parties to this Compromise acknowledge and agree that each of them is entering into this Compromise freely and voluntarily and not acting under any misapprehension as to the effect hereof, and has acted and does hereby act freely and voluntarily and not under any coercion or duress.
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Voluntary Compromise. 14 This Agreement is the result of a voluntary compromise settlement reached among 15 the Parties. Accordingly, no provision of this Agreement or its adoption as part of any 16 General Stream Adjudication shall be construed as altering or affecting the determination 17 of any issues relating to any other reserved water rights claims that may belong to other 18 Indian tribes within or outside of Utah.
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Related to Voluntary Compromise

  • Voluntary Compliance Consequential Damages for Gross Negligence or Willful Misconduct.

  • Compromise To compromise, arbitrate or otherwise adjust claims in favor of or against the Trust or any matter in controversy, including but not limited to claims for taxes;

  • Voluntary Insolvency Grantee (i) is generally not paying its debts as they become due,

  • Notification of Compromise or Potential Compromise The compromise or potential compromise of Confidential Information must be reported to the DSHS Contact designated on the contract within one (1) business day of discovery. Contractor must also take actions to mitigate the risk of loss and comply with any notification or other requirements imposed by law or DSHS.

  • Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.