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Beaumont Texas Form 1120-H: What You Should Know
Disbursement of funds has been obtained from the United States (referred to as the Respondent hereinafter). In connection with this Consent Judgment, the Settling Distributors hereby: • Agree to the settlement by means of a Form 715-B, which is to be duly endorsed on the documents and which shall provide a statement indicating that the Settlement Agreements have been fully and finally approved by the Settling States. • Agree that any and all funds paid into the settlement are held in reserve and not subject to any payment requirements of any other agreement. • Agree that in the event of a default on these settlement agreements by the Respondent, and such default would result in a default by the Settling States, such default shall be referred to the President of the United States, in which case, the President shall have the power to declare the Respondent to be in default for purposes of Article 5 of the United Nations Convention of the International Fund for Agricultural Development, (also known as the ILL Convention for the Protection of New Year's Resolutions to Ensure Fair Compensation for Land Used for Economic Activities, and for other purposes). 2) Notice is hereby given to the States to the effect that the Settling States, upon receipt of this Consent Judgment, as well as the Settling Distributors from the Respondent, will no longer be liable as a party to any judgment for any and all amounts and damages resulting from breaches of an obligation to pay such sums of money or damages arising out of claims and demands under the provisions of this Consent Judgment, or otherwise resulting from the Settling States' exercise of rights arising hereunder. 3) The United States hereby agrees that it will not pursue any action or other proceeding against the Settling States or the distributions which, after the Effective Date, are made or made part of them or any interest in this Consent Judgment.
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