Date of the grant Sample Clauses

The 'Date of the grant' clause establishes the specific date on which a grant, such as an option or award, is officially made to a recipient. This date is crucial because it typically determines when the rights or benefits associated with the grant begin, such as the start of a vesting period or the calculation of exercise prices for stock options. By clearly defining the grant date, the clause ensures both parties have a mutual understanding of when obligations and entitlements commence, thereby preventing disputes and providing clarity for administrative and legal purposes.