Release Requirements Clause Samples
The Release Requirements clause defines the specific conditions and actions that must be fulfilled before a party is formally released from certain obligations or liabilities under an agreement. Typically, this clause outlines steps such as the completion of all contractual duties, submission of required documentation, or the payment of outstanding amounts. By clearly stating what is necessary for a release to take effect, the clause ensures that both parties understand their responsibilities and helps prevent disputes over whether obligations have been properly discharged.
Release Requirements. Notwithstanding the foregoing, the Executive shall not be entitled to receive any of the payments or benefits described in Section 6(d) (other than the Accrued Benefits) unless, not later than sixty (60) days after the Termination Date, the Executive has executed the Release, and the period during which the Release may be revoked has expired without the Executive having revoked the Release; provided, however that if the Executive dies or incurs a Permanent Disability (such that the Executive is unable to legally execute an enforceable Release) following termination by the Company without Cause or by the Executive with Good Reason but prior to the date that such Release becomes effective, the Executive or the Executive’s estate shall remain eligible to receive such payments without the Release becoming effective. None of the payments or benefits described in Section 6(d) (other than the Accrued Benefits) shall be paid until the Release has been signed and become effective (other than in the event of death or Permanent Disability as provided in the previous sentence), and any payments, which would otherwise be payable during such sixty-day period prior to the date the Release becomes effective, shall be accumulated and paid to on the first payroll date following the date the Release becomes effective without interest, or, if such sixty-day period begins in one calendar year and ends in a second calendar year, the first payroll date during the second calendar year following the date the Release becomes effective, as described above.
Release Requirements. For purposes of this Agreement, the “Release Requirements” shall be satisfied as of any date if, as of such date, Executive (or, for purposes of Paragraph 4(f), the legal representative of Executive’s estate) has signed a form of general release and waiver satisfactory to Company and Executive if prior to death (the “Release”) and the Release has become effective in accordance with applicable law (including that the Release has not been revoked and the revocation period applicable under applicable law has expired).
Release Requirements. This AGREEMENT shall remain in full force and effect and the associated financial guarantee shall not be released until all terms of this AGREEMENT have been completed to the satisfaction of the CITY and the APPLICANT has received written notice of release of the AGREEMENT. The APPLICANT shall be responsible for maintaining all records of release of this AGREEMENT. The APPLICANT shall produce evidence of the AGREEMENT release upon request of the CITY or financial institutions associated with the financial guarantee.
Release Requirements. To be eligible to receive the Option Acceleration and/or the Severance Benefits, the Executive must meet the following requirements (the “Release Requirements”): (a) the Executive must first timely execute, make effective, and deliver to the Company within sixty (60) days after the date of the Executive’s employment termination a general release of all known and unknown claims, in a form acceptable to the Company (which may, at the Company’s election, be incorporated into a separation agreement); (b) the statutory period under which the Executive may revoke the release provided to the Company pursuant to this Section 9 shall have expired without the Executive revoking such release; and (c) the Executive must not be in material breach of any other agreement or contract between the Executive and the Company at the time of the receipt of such benefits. In the event that, during such time as the Executive continues to receive any Severance Benefits, the Executive materially breaches any other agreement or contract between the Executive and the Company, the Company’s obligation to continue to provide the Severance Benefits will immediately cease in full, and the Executive will not be entitled to receive any additional Severance Benefits as of the date of the Executive’s breach.
Release Requirements. In consideration of the Severance Payments (as defined in Section 4 hereof) provided to Executive in accordance with this Agreement, on or before the Termination Date Executive is required to execute a Mutual Release and Waiver, in the form set forth as Exhibit A of this Agreement (as the same may be updated in connection with the Termination Date (as defined in Section 3 hereof)), which Exhibit A is attached to and forms a part of this Agreement (the “Executive Release”), the Executive Release shall become effective, and the Executive Release shall not be revoked by Executive. The requirements set forth in this Section 2 are referred to herein as the “Release Requirements”. Company also agrees to enter into the Executive Release.
Release Requirements. Notwithstanding the foregoing, the Executive shall not be entitled to receive certain of the payments or benefits described in Section 5(c) above unless, not later than sixty (60) days after the Termination Date, the Executive has executed the Release, and the period during which the Release may be revoked has expired without the Executive having revoked the Release. None of the payments or benefits described in Section 5 contingent upon the Release shall be paid until the Release has been signed and become effective, and any payments, which would otherwise be payable during such sixty-day period prior to the date the Release becomes effective, shall be accumulated and paid on the first payroll date following the date the Release becomes effective without interest, or, if such sixty-day period begins in one calendar year and ends in a second calendar year, the first payroll date during the second calendar year following the date the Release becomes effective, as described above. In addition, Executive must continue to comply with the terms of this Agreement throughout any notice period, including (unless otherwise requested by the Company) continuing to carry out assigned duties and responsibilities to be eligible for any of the aforementioned payments.
Release Requirements. To be eligible to receive the General Severance Benefits or the Change of Control Severance Benefits, you must meet the following requirements (the “Release Requirements”): (a) you must first timely execute, make effective, and deliver to the Company a general release of all known and unknown claims, in a form acceptable to the Company (which may, at the Company’s election, be incorporated into a separation agreement); (b) you must not be in material breach of the Proprietary Information Agreement or any other agreement or contract between you and the Company at the time of the receipt of such benefits; and (c) if you are a member of the Board of Directors of the Company (the “Board”) as of the termination date, you must promptly resign from the Board if your resignation is requested by the Board. In the event that, during such time as you continue to receive the General Severance Benefits or Change of Control Severance Benefits, as applicable, you materially breach the Proprietary Information Agreement or any other agreement or contract between you and the Company, the Company’s obligation to continue to provide the General Severance Benefits or Change of Control Severance Benefits will immediately cease in full, and you will not be entitled to receive any such additional benefits as of the date of your breach.
Release Requirements. This AGREEMENT and the associated financial guarantee shall remain in full force and effect and shall not be released until all terms of this AGREEMENT have been completed to the satisfaction of the Planning & Community Development Director or his/her designee. The APPLICANT shall notify Planning & Community Development in writing when all terms of the AGREEMENT are complete to request a final inspection and a final release from the terms of this AGREEMENT.
Release Requirements. To be eligible to receive the Severance Benefits, you must meet the following requirements (the “Release Requirements”): (a) you must first timely execute, make effective, and deliver to the Company a general release of all known and unknown claims, in a form acceptable to the Company (which may, at the Company’s election, be incorporated into a separation agreement) within sixty (60) days following your termination of employment; and (b) you must not be in material breach of any other agreement or contract between you and the Company Group at the time of the receipt of such benefits. In the event that, during such time as you continue to receive any Severance Benefits, you materially breach any other agreement or contract between you and the Company Group, the Company’s obligation to continue to provide the Severance Benefits will immediately cease in full, and you will not be entitled to receive any additional Severance Benefits as of the date of your breach.
Release Requirements. To receive the Change of Control accelerated vesting benefits set forth above, you must (i) first sign and deliver to the Company a general release of claims, in a form acceptable to the Company, within sixty (60) days of the date your employment with the Company ends; and (ii) not be in breach of the Proprietary Information and Inventions Agreement at the time of the receipt of such benefits.