Valid Receipt Clause Samples
The Valid Receipt clause defines the requirements for what constitutes an acceptable proof of delivery or payment in a contractual context. Typically, this clause specifies the form and content a receipt must have—such as including a date, signature, or official stamp—and may outline the process for submitting or verifying such receipts. Its core practical function is to ensure that parties have clear, objective evidence of transactions or deliveries, thereby reducing disputes and providing a reliable basis for enforcing contractual obligations.
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Valid Receipt. Upon any such sale or other disposition referred to in Clause 10.2 and upon any other dealing or transaction under the provisions of this Deed, the receipt of the Lender or any Receiver for the purchase money of the property or asset sold or for any other moneys paid to or other consideration received by the Lender or any Receiver shall effectually discharge the purchaser or person paying or giving the same therefrom and from being concerned to see to the application or being answerable for the loss, non-application or mis-application thereof.
Valid Receipt. The Vendor’s Solicitors are authorised to receive payment of the Consideration on behalf of the Vendor. The receipt of the Vendor’s Solicitors shall be a complete discharge to the Purchaser who shall not be obliged to enquire as to the distribution of the Consideration.