Where terms of settlement provide that pending proceedings will be dismissed 'upon performance' of the settlement terms, the proceedings are not discharged immediately upon execution but are preserved until performance, enabling the innocent party to pursue its original claims in the event of default. A distinction in a settlement clause between 'dismissal' of proceedings and 'discharge' of actions, claims or demands 'arising out of this matter' may be construed as referring to different subject matters — the former to the pending proceedings and the latter to claims not yet made but which might arise from the parties' dealings.
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