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1. Parties: Identifies and defines all parties to the agreement, including their legal capacity and contact details
2. Background: Recitals explaining the context of the dispute and the parties' desire to settle
3. Definitions: Defines key terms used throughout the agreement
4. Settlement Terms: Details of the settlement consideration and payment terms
5. Covenant Not to Sue: The core covenant where the promising party agrees not to initiate or pursue legal action
6. Release: Specific claims and rights being released or preserved
7. Representations and Warranties: Statements of fact and promises made by each party
8. Confidentiality: Obligations regarding non-disclosure of settlement terms and related information
9. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and relevant jurisdiction
10. Execution: Signature blocks and execution requirements
1. Non-Disparagement: Mutual agreements not to make negative statements about other parties - used when reputational concerns are significant
2. Tax Implications: Addresses responsibility for taxes arising from settlement - used when settlement involves significant monetary consideration
3. Insurance Obligations: Details any ongoing insurance requirements - used when future risks need to be managed
4. Future Cooperation: Obligations for parties to cooperate on related matters - used when ongoing relationship is necessary
5. Third Party Rights: Addresses rights of related parties not directly party to the agreement - used when settlement affects third party interests
6. Severability: Provisions for maintaining validity if parts are found unenforceable - used in complex settlements
7. Alternative Dispute Resolution: Procedures for resolving future disputes without court action - used when parties want to avoid future litigation
1. Schedule A - Settlement Payment Details: Detailed breakdown of settlement amounts and payment schedule
2. Schedule B - Released Claims: Comprehensive list of specific claims being released
3. Schedule C - Related Proceedings: List of all legal proceedings covered by the covenant
4. Schedule D - Required Actions: Specific actions parties must take to implement the settlement
5. Appendix 1 - Form of Release: Standard form for executing the release of claims
6. Appendix 2 - Related Agreements: Copies of any related agreements referenced in the main document
Affiliate
Business Day
Claims
Commencement Date
Confidential Information
Consideration
Covenant Period
Covenantor
Covenantee
Dispute
Effective Date
Encumbrance
Excluded Claims
Execution Date
Governing Law
Legal Proceedings
Losses
Material Adverse Effect
Parties
Related Entities
Released Claims
Released Matters
Released Parties
Settlement Amount
Settlement Payment
Settlement Terms
Subsidiary
Term
Territory
Third Party Rights
Working Hours
Interpretation
Settlement Terms
Covenant Not to Sue
Release and Discharge
Payment Terms
Confidentiality
Non-Disparagement
Representations and Warranties
Indemnification
Further Assurance
Governing Law
Dispute Resolution
Notices
Assignment
Severability
Entire Agreement
Amendment
Waiver
Force Majeure
Costs and Expenses
Third Party Rights
Counterparts
No Admission of Liability
Compliance with Laws
Termination
Survival
Banking and Finance
Manufacturing
Oil and Gas
Real Estate
Construction
Technology
Healthcare
Telecommunications
Professional Services
Retail and Consumer
Insurance
Mining
Agriculture
Transportation and Logistics
Legal
Compliance
Risk Management
Executive Leadership
Corporate Affairs
Human Resources
Finance
Operations
Commercial
Business Development
Corporate Secretariat
Legal Counsel
Chief Legal Officer
Risk Manager
Compliance Officer
Chief Executive Officer
Chief Financial Officer
Corporate Secretary
Business Development Director
Commercial Director
Operations Manager
Human Resources Director
Contract Manager
Dispute Resolution Officer
General Counsel
Settlement Officer
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