Release Effectiveness Sample Clauses
The Release Effectiveness clause defines when and how a release of claims or liabilities becomes legally binding between the parties. Typically, this clause specifies the conditions that must be met for the release to take effect, such as the execution of a settlement agreement or the fulfillment of certain obligations. For example, it may state that the release is only effective upon receipt of payment or after a specified date. Its core practical function is to provide certainty and clarity regarding the timing and enforceability of the release, thereby preventing disputes about whether parties remain liable for past actions.
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Release Effectiveness. The receipt of any severance payment or benefits pursuant to section 3(a) will be subject to Executive signing and not revoking the Release and provided that such Release is effective within sixty (60) days following the termination of Executive’s employment. No severance pursuant to such section shall be paid or provided until the Release becomes effective.
Release Effectiveness. The receipt of any severance pursuant to Section 3(a) will be subject to Employee signing and not revoking the Release and further subject to the Release becoming effective within fifty-two (52) days following Employee’s termination of employment.
Release Effectiveness. The receipt of any severance pursuant to Section 3(a) will be subject to Employee signing and not revoking the Release and provided that such Release is effective within sixty (60) days following the termination of employment. No severance pursuant to such Section will be paid or provided until the Release becomes effective. In the event the termination occurs at a time during the calendar year where it would be possible for the Release to become effective in the calendar year following the calendar year in which the Employee's termination occurs, any severance that would be considered Deferred Compensation Separation Benefits (as defined in Section 3(d)) will be paid on the first payroll date to occur during the calendar year following the calendar year in which such termination occurs.
Release Effectiveness. Your release and waiver of Claims hereunder (and the related representations, acknowledgements, and covenants as set forth herein) (the “Release”) shall be effective after the applicable Revocation Period (as defined below) expires without you having revoked such Release (the date of such effectiveness, the “Release Effective Date”).
Release Effectiveness. As consideration for the payments and benefits granted to Executive hereunder, Executive agrees to execute and deliver to the Company the release agreement attached hereto as Exhibit A (the “Release Agreement”) concurrently with the execution of this Agreement. For the sake of clarity, the benefits and payments described herein are conditioned upon Executive executing and delivering to the Company the Release Agreement, the Release Agreement becoming effective, and on Executive complying with the terms and conditions set forth in this Agreement.