ASP.NET

public GlobalSettings LoadSettings() {
  // load the settings (but don't store them in the context)
  // return loaded settings
}

 public GlobalSettings GlobalSettings {
    get {
          GlobalSettings oSettings = null;
          // check for context
          if(this.context != null) {
             // load from context ApplicationState
          } 

          // check if found
          if(oSettings == null) {
             // load
             oSettings = this.LoadSettings();

             // check again for context
             if(this.context != null) {
                // save settings in ApplicationState
             }
          } 

          // return result
          return oSettings;
    }
}