Payment Acknowledgment Clause Samples
A Payment Acknowledgment clause serves to formally confirm that a payment has been received by one party from another under the terms of an agreement. Typically, this clause specifies the amount received, the date of receipt, and may reference the related invoice or obligation being satisfied. Its core practical function is to provide clear evidence of payment, reducing the risk of future disputes over whether payment was made or received.
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Payment Acknowledgment. The Employee hereby acknowledges that the Company has made a payment to Employee in the amount of $ and that such amount constitutes all amounts due and owing under the Employment Agreement, including all amounts due under Section 4 (Compensation and Benefits) and Section 5 (Termination of Employment and Severance Benefits). Employee acknowledges and agrees that the Company shall have no further payment obligations under the Employment Agreement, including any future payments of severance benefits thereunder.
Payment Acknowledgment. (a) Company acknowledges that the payments under this Agreement (i) are reasonable and appropriate and have been negotiated in good faith and on an arm’s-length basis to reflect various forms of value that may be obtained by Company from entering into this Agreement with DESRES, including the exclusivity obtained from DESRES during the relevant Exclusivity Period and such insights as may be provided by DESRES to Company with respect to the structure or function of any Target that then is, or formerly was, a Category 1 Target or of any Compound that Interacts with any such Target, which insights have the potential to aid Company, or any of its Subsidiaries or any Rights-Holding Party, in Generating, identifying, discovering or Pursuing Category 1 Compounds, and (ii) do not, to any material extent, represent consideration for the assignment of, or granting of any license under, any Patents or Know-How hereunder.
(b) Subject to Section 1.7 and Section 4.1(b)(ii), Company acknowledges that it is required to make the payments under this ARTICLE 5 with respect to any Target that then is, or formerly was, a Category 1 Target, and any Compound that Interacts with any such Target, and any product containing any such Compound, whether or not (i) the activities conducted by or on behalf of Company, any of its Subsidiaries or any Rights-Holding Party with respect to any such Target, Compound or product occur before, during or after the Research Term, (ii) any research into any such Target by Company, any of its Subsidiaries or any Rights-Holding Party is conducted using, or is enhanced in any way by, the insights provided, or any Know-How or Patents assigned or licensed, to Company by DESRES, or (iii) any Generation, identification, discovery or Pursuit of any such Compound or product by Company, any of its Subsidiaries or any Rights-Holding Party is conducted using, or enhanced in any way by, the insights provided, or any Know-How or Patents assigned or licensed, to Company by DESRES.
(c) Subject to Section 1.7 and Section 4.1(b)(ii), Company hereby waives any right to claim that it is not obligated to make a payment under this ARTICLE 5 with respect to any Target that then is, or formerly was, a Category 1 Target, or any Compound that Interacts with any such Target, or any product containing any such Compound, on the grounds that (i) any research into any such Target by Company, any of its Subsidiaries or any Rights-Holding Party was not conducted using, or was not ...
Payment Acknowledgment. The Releasor hereby agrees and acknowledges receiving the full payment of the Debt Amount from the Releasee, including all and any interest, fees, and penalties incurred, on by way of .