to be satisfied out of the proceeds of the settlement

English translation: to be covered/to be paid

08:36 Apr 8, 2018
English to English translations [Non-PRO]
Law/Patents - Law: Contract(s)
English term or phrase: to be satisfied out of the proceeds of the settlement
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"?
Mohammad Ghaffari
Local time: 03:41
English translation:to be covered/to be paid
Explanation:
To Satisfy in this context means to be covered as payment or to be paid by
Selected response from:

Julio Madrid
Mexico
Local time: 16:41
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +6to be covered/to be paid
Posted via ProZ.com Mobile
Julio Madrid


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +6
to be covered/to be paid


Explanation:
To Satisfy in this context means to be covered as payment or to be paid by

Julio Madrid
Mexico
Local time: 16:41
Native speaker of: Native in SpanishSpanish, Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Tony M
17 mins
  -> Thank you!

agree  Robin 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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