Assets Received that Implement the Award Clause Samples
The 'Assets Received that Implement the Award' clause defines how assets distributed or transferred as a result of an arbitration or legal award are to be handled by the parties involved. In practice, this clause clarifies what constitutes an asset received under the award, such as cash payments, property, or securities, and may specify the timing and manner of their transfer. Its core function is to ensure that both parties have a clear understanding of their obligations regarding the receipt and management of assets awarded, thereby reducing disputes and facilitating smooth enforcement of the award.
Assets Received that Implement the Award. The amount of all assets it receives to implement its Award, the accompanying Underlying Agreement, and any Amendments thereto including, but not limited to all federal assistance or the value of any property the Federal Government provides that implement its Award, the accompanying Underlying Agreement, and any Amendments thereto, and all other funds and the value of any property or services it has received from sources other than the Federal Government provided for, accruing to, or otherwise received on account of its Award, the accompanying Underlying Agreement, and any Amendments thereto.