Imagine this setup:

Formula in G2:

=SUM(--(FREQUENCY(IF(($A$2:$A$8=G2)*($D$2:$D$8="Settled"),IF(COUNTIFS($B$2:$B$8,$B$2:$B$8,$D$2:$D$8,"Waiting")=0,MATCH($B$2:$B$8,$B$2:$B$8,0))),ROW($B$2:$B$8)-ROW($B$2)+1)>0))

Note: It's an array formula and needs to be confirmed through Ctrl+Shift+Enter

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