Receipt or Release Clause Samples
The 'Receipt or Release' clause establishes the conditions under which one party acknowledges receiving goods, services, or payments from another party, and may also confirm the release of further obligations related to that transaction. In practice, this clause typically requires a formal acknowledgment—such as a signed receipt or written confirmation—once delivery or payment has occurred, and may specify that upon such acknowledgment, the delivering party is discharged from further responsibility. Its core function is to provide clear evidence of fulfillment and to prevent future disputes by documenting that obligations have been met and no further claims remain.
Receipt or Release. Any payment to a Trust Beneficiary in accordance with the provisions of the Trust shall, to the extent thereof, be in full satisfaction of all claims against Trustee and the Company, and Trustee may require such Trust Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect.
Receipt or Release. Any payment to the Executive or the Executive’s Beneficiary in accordance with the provisions of this Agreement shall, to the extent thereof, be in full satisfaction of all claims against the Board, the Committee, the Company and its Subsidiaries. The Company may require such Executive or Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect.
Receipt or Release. Any payment to any Participant or his Beneficiary in accordance with the provisions of this Trust Agreement shall, to the extent thereof, be in full satisfaction of all claims against the Trustee, the Administrator and the Company, and the Administrator may require such Participant or Beneficiary to execute a receipt and release to such effect as a condition precedent to such payment.
Receipt or Release. Any payment to the Executive (or his spouse or estate) in accordance with the provisions of this Agreement shall, to the extent thereof, be in full satisfaction of any and all claims, be they known or unknown at such time, such party may have against the Company pursuant to this Agreement. The Company may require the Executive (or his spouse or estate), as a condition precedent to the commencement of payments pursuant to Section 4(b), to execute a receipt and release to such effect. 13.
Receipt or Release. Any payment to any Participant or Beneficiary in accordance with the provisions of the Plan shall, to the extent thereof, be in full satisfaction of all claims against the Trustee, the Committee, and the Company. The Trustee may require such