Apr 8, 2018 08:36
6 yrs ago
10 viewers *
English term

to be satisfied out of the proceeds of the settlement

Non-PRO English Law/Patents Law: Contract(s)
Resident understands and agrees that each party is to bear its own attorney’s fees and costs, if any, in connection with the claim and settlement evidenced by this Agreement and that all liens or claims for payment upon Resident are to be satisfied by the Resident out of the proceeds of the settlement.

What does it mean "to be satisfied by the Resident out of the proceeds of the settlement"?
Change log

Apr 8, 2018 15:15: Robert Forstag changed "Level" from "PRO" to "Non-PRO"

Votes to reclassify question as PRO/non-PRO:

Non-PRO (3): Rachel Fell, Jennifer Levey, Robert Forstag

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Responses

+6
2 hrs
Selected

to be covered/to be paid

To Satisfy in this context means to be covered as payment or to be paid by
Peer comment(s):

agree Tony M
17 mins
Thank you!
agree Jennifer Levey
1 hr
Thank you!
agree Robert Forstag
4 hrs
Thank you!
neutral philgoddard : You've only answered half of the question.
4 hrs
agree writeaway : you've undoubtedly answered the part the Asker didn't understand. proceeds and settlement were already mentioned elsewhere in the text and are relatively obvious/easily found/I said easily found, not easy. but it is a basic term for sure
5 hrs
Thank you, Charlie! I should've given a more extent "explanation", but I saw it as obvious/easy as you mentioned. =) . Hehe I see what you mean, but I was not literally quoting you. "easily" did not apply to the sentence I wrote.
agree AllegroTrans
8 hrs
Thank you!
agree NishantM
3 days 5 hrs
Thank you!
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4 KudoZ points awarded for this answer.
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