Receipt by the Corporation Clause Samples
The 'Receipt by the Corporation' clause defines when and how the corporation is considered to have officially received documents, notices, or payments. Typically, this clause specifies acceptable delivery methods—such as hand delivery, mail, or electronic transmission—and may clarify the effective date of receipt depending on the method used. Its core function is to eliminate ambiguity about when communications or obligations are deemed fulfilled, thereby reducing disputes and ensuring clear timelines for both parties.
Receipt by the Corporation. The Corporation acknowledges receipt from the Participant of certificates representing the Restricted Stock, registered in the name of the Participant, and acknowledges receipt of stock powers executed in blank by the Participant covering all of the Restricted Stock. Certificates representing the Restricted Stock shall be held by the Corporation and distributed or transferred as directed by the Committee in accordance with this Agreement.