CONDITIONAL WAIVER AND RELEASE Sample Clauses
A Conditional Waiver and Release clause serves to release a party’s claim to payment or lien rights only after certain conditions, typically the actual receipt of payment, have been met. In practice, this means that a contractor, subcontractor, or supplier agrees to waive their right to file a lien or pursue further payment, but only once the specified payment has cleared or been confirmed. This clause is commonly used in construction contracts to protect both payers and payees by ensuring that waivers are not effective until payment is actually received, thereby preventing premature loss of rights and reducing the risk of nonpayment disputes.
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CONDITIONAL WAIVER AND RELEASE. In addition to the requirements of Section 6.5.1 herein, prior to PG&E ES making any progress or final payment to SUBCONTRACTOR. SUBCONTRACTOR shall provide to PG&E ES a Conditional Waiver and Release at time of invoicing, in a form acceptable to PG&E ES, that states that upon receipt of payment from PG&E ES for Work under the Work Order, SUBCONTRACTOR shall waive and release any right to a mechanic's lien, stop notice, or any right against any bond for Work completed to date, except for any disputed amount identified in the waiver and release.
CONDITIONAL WAIVER AND RELEASE. This document waives and releases lien, stop payment notice, and payment bond rights the claimant has for labor and service provided, and equipment and material delivered, to the customer on this job through the Through Date of this document. Rights based upon labor or service provided, or equipment or material delivered, pursuant to a written change order that has been fully executed by the parties prior to the date that this document is signed by the claimant, are waived and released by this document, unless listed as an Exception below. This document is effective only on the claimant’s receipt of payment from the financial institution on which the following check is drawn: Amount of Check: $ Check Payable to: This document does not affect any of the following:
CONDITIONAL WAIVER AND RELEASE. UPON PROGRESS PAYMENT
CONDITIONAL WAIVER AND RELEASE. ON FINAL PAYMENT
CONDITIONAL WAIVER AND RELEASE. The Executive, on behalf of himself, his heirs, executors, administrators, successors and assigns, hereby waives and releases the McLeodUSA Consolidated Group and the Lenders (as hereinafter defined) whose Claims are released as contemplated by clause (i) or (iii) below, from any and all charges, complaints, claims, liabilities, promises, agreements, causes of action, damages or other obligations (collectively, "Claims") arising from or relating to the McLeod USA Consolidated Group including, without limitation, any rig▇▇▇ (▇hether derived from any contract, certificate of incorporation, by-laws, statute or otherwise) to indemnification, contribution or on any similar basis, against any of the McLeodUSA Consolidated Group or the Lenders, known or unknown, whether arising at law or in equity, that he had, may have or might otherwise in the future have, (provided, that such release shall not operate as a waiver of or release from any causes of action arising out of the willful misconduct of the Company or the Lenders), effective only upon the satisfaction of the following conditions:
CONDITIONAL WAIVER AND RELEASE. UPON FINAL PAYMENT Upon receipt by the undersigned of a check from (name of payor) in the amount of $ payable to (payee or payees of check) and when the check has been properly endorsed and has been paid by the bank upon which it is drawn, this document shall become effective to release any mechanic’s lien, stop notice or bond right the undersigned has on the project of the County of ▇▇▇▇▇▇ located at (project name and location). This release covers the final payment to the undersigned for all labor, services, equipment or material furnished on the job, except for disputed claims for extra work in the amount of $ . Before any recipient of this document relies on it, said party should verify evidence of payment to the undersigned. Dated: (Company Name) By: Title: REDUCTION OF STOP NOTICE CIVIL CODE § 3262 NOTICE: THIS DOCUMENT WAIVES RIGHTS UNCONDITIONALLY AND IS ENFORCEABLE AGAINST YOU IF YOU SIGN IT, EVEN IF YOU HAVE NOT BEEN PAID. SEEK LEGAL ADVICE PRIOR TO SIGNING THIS DOCUMENT. TO: THE COUNTY OF ▇▇▇▇▇▇ The Stop Notice claimed by (Claimant/Name of Person or Firm Claiming Stop Notice) on that project known as (name of project as it appears on Stop Notice) against the County of ▇▇▇▇▇▇ dated (date of Stop Notice) is hereby partially reduced in the amount of $ . The remaining balance of the stop notice is $ . Dated: Firm Name By: (Owner or Agent of Stop Notice Claimant Must Sign Here and Verify Below) NOTE: This reduction: (1) shall not preclude the service of a subsequent stop notice that is timely and proper;