Effective Time of Release Sample Clauses
The 'Effective Time of Release' clause defines the exact moment when a release of claims or obligations becomes legally binding between the parties. Typically, this clause specifies whether the release takes effect immediately upon signing, at a future date, or upon the occurrence of a specific event, such as the completion of payment or delivery of goods. By clearly establishing when the release is operative, this clause ensures both parties understand their rights and obligations, thereby preventing disputes over the timing and enforceability of the release.
Effective Time of Release. This Release shall not become effective until it has been fully executed by both parties, but no earlier than the eighth (8th) day after Executive signs it. During the seven-day period immediately following the date of Executive’s execution of this Release, Executive shall be entitled to revoke it by putting the revocation in writing and delivering to the Company, by hand delivery or certified mail, return receipt requested, within seven (7) calendar days of the date on which Executive signs the Release. If Executive delivers the revocation by mail, it must be postmarked within seven (7) calendar days of the date Executive executes the Release. If this release is not revoked during such seven (7) calendar day period, then such seventh day shall be the effective day of the Release (the “Release Effective Date”). If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. If the Executive does not execute this Release or exercises his right to revoke hereunder, he shall forfeit his right to receive any of the Termination Benefits, and to the extent such Termination Benefits have already been provided, the Executive agrees that he will immediately reimburse the Company for the amounts of such payment.
Effective Time of Release. (a) The release of Collateral (i) in connection with the events specified in Section 7.l(a)(i) of this Agreement shall be effective upon the receipt by the Collateral Trustee of the written confirmation from the Lender and the Indenture Trustee required by Section 7.2(a) or upon the occurrence of the events set forth in Section 7.2(c) of this Agreement and (ii) in connection with the events specified in Section 7.l(a)(ii) of this Agreement shall be effective upon confirmation by the Collateral Trustee of the Discharge Notice or upon the occurrence of the events set forth in Section 7.2(c) of this Agreement. The Collateral Trustee shall promptly notify the Grantors and the Secured Parties, in the manner specified in Section 8.2 of this Agreement, when the release of the Collateral is effective.
(b) When the release of all of the Collateral is effective, all right, title and interest of the Collateral Trustee in, to and under the Trust Estate shall terminate and shall revert to the Grantors or their respective successors and assigns, and the estate, right, title and interest of the Collateral Trustee therein shall thereupon cease, terminate and become void except with respect to those provisions of this Agreement that expressly survive. In such case, each Grantor at its sole cost and expense shall deliver to the Collateral Trustee one or more instruments of discharge, satisfaction and release in form reasonably satisfactory to the Collateral Trustee, and, upon the written request of a Grantor or its successors or assigns, and at the cost and expense of such Grantor or its successors or assigns, the Collateral Trustee shall execute a satisfaction of the Collateral Documents and such instruments as are necessary or desirable to terminate and remove of record any documents constituting public notice of the Collateral Documents and the Liens and assignments granted thereunder and shall assign and transfer, or cause to be assigned and transferred, and shall deliver or cause to be delivered to the Grantors, all property, including all moneys, instruments and securities of the Grantors, then held by the Collateral Trustee. The cancellation and satisfaction of the Collateral Documents shall be without prejudice to the rights of the Collateral Trustee or any successor Collateral Trustee to charge and be reimbursed for any expenditures which it may thereafter incur in connection therewith.
Effective Time of Release. The Executive may accept this Release by signing it and delivering it to the Company as provided in Section 15 of this Release within 21 days of his receipt hereof. After executing this Release, the Executive will have seven calendar days (the “Revocation Period”) to revoke this Release by indicating his desire to do so in writing delivered to the Company as provided in Section 15 of this Release by no later than 12:00 p.m. EST on the seventh calendar day following the date on which he executes and delivers this Release. The effective date of this Release shall be the eighth day after the Executive executes and delivers this Release (the “Release Effective Date”). If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. If the Executive does not execute this Release or exercises his right to revoke hereunder, he shall forfeit his right to receive any of the Termination Benefits set forth in Section 3 above and any other payments or benefits referenced in this Release with the sole exception of the Amounts and Benefits, and to the extent such Termination Benefits have already been provided, the Executive agrees that he will immediately reimburse the Company for the amounts of such payment.
Effective Time of Release. The Executive may accept this Release by signing it and returning it to Iconix Brand Group, Inc., ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇: [●] within [twenty-one (21)] [forty-five (45)] days of his receipt of the same. After executing this Release, the Executive will have seven (7) days (the “Revocation Period”) to revoke this Release by indicating his desire to do so in writing delivered to [●] at the address above (or by fax at [●]) by no later than 5:00 p.m. EST on the seventh (7th) day after the date he signs this Agreement. The effective date of this Agreement shall be the eight (8th) day after the Executive signs this Agreement (the “Release Effective Date”). If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. If the Executive does not execute this Release or exercises his right to revoke hereunder, he shall forfeit his right to receive any of the Termination Benefits, and to the extent such Termination Benefits have already been provided, the Executive agrees that he will immediately reimburse the Company for the amounts of such payment.
Effective Time of Release. The Executive may accept this Release by signing it and returning it to GNC as follows: General Nutrition Centers, Inc., ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇; Attention: Chief Human Resources Officer, within twenty-one (21) days of his receipt of the same, which receipt occurred on November 6, 2014. After executing this Release, the Executive will have seven (7) days (the “Revocation Period”) to revoke this Release by indicating his desire to do so in writing delivered to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, Chief Human Resources Officer at the address above (or by electronic mail delivery in “pdf” form to: ▇▇▇▇▇-▇▇▇▇▇▇▇▇▇▇▇@▇▇▇-▇▇.▇▇▇ or by fax at (▇▇▇) ▇▇▇-▇▇▇▇ by no later than 5:00 p.m. EST on the seventh (7th) day after the date the Executive signs this Release. The effective date of this Release shall be the eighth (8th) day after the Executive signs this Release (the “Release Effective Date”). If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. If the Executive does not execute this Release or exercises his right to revoke hereunder, (a) he shall forfeit his right to receive any of the Separation Benefits, and to the extent such Separation Benefits have already been provided, the Executive agrees that he will immediately reimburse the Company for the amounts of such payments and benefits and (b) this Release, including GNC’s release of claims set forth in Section 7 of this Release, shall be immediately void and of no further force and effect. * * * * * *
Effective Time of Release. This Release, once signed (and dated on the date signed) and returned to the Company by the date required under the Employment Agreement at its headquarters at: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: Chairman of the Board, shall be effective on the eighth (8th) day after this Release is signed.
Effective Time of Release. 5.01 The releases provided in this Agreement shall be effective upon receipt of the later to occur of the receipt by ▇▇▇▇▇ of the (i) First Cash Tranche and (ii) the Shares.
Effective Time of Release. This Release shall be effective as of the Effective Time (the “Effective Time”) as such term is defined in that certain Bellingham Execution Agreement dated as of , 2004 by and among the Utility, NEA, and Commonwealth Electric Company (the “Execution Agreement”).
Effective Time of Release. For any Release hereunder to be valid, the Executive must deliver an executed copy of such Release to the Company as provided in Section 5 of this Agreement within the applicable time period specified herein. The Executive shall have seven calendar days from the date of delivery of any Release (the “Revocation Period”) to revoke such Release; provided, that if the last day of the Revocation Period falls on a Saturday, Sunday or legal holiday, the last day of the Revocation Period will be deemed to be the next business day. The Executive may revoke any Release by indicating her desire to do so in writing delivered to the Company as provided in Section 5 of this Agreement by no later than 11:59 p.m. PT on the last day of the Revocation Period. The effective date of any Release (the “Release Effective Date”) shall be the day after the last day of the applicable Revocation Period.
Effective Time of Release. The Executive may accept this Release by signing it and returning it to the Company at One Liberty Plaza, ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, Attn: General Counsel, within twenty-one (21) days of his receipt of the same, which receipt occurred on [INSERT DATE OF RECEIPT]. After executing this Release, the Executive will have seven (7) days (the “Revocation Period”) to revoke this Release by indicating his desire to do so in writing delivered to the General Counsel at the address above (or by electronic mail delivery in “pdf” form to: [INSERT EMAIL ADDRESS] or by fax at [INSERT FAX NUMBER] by the seventh (7th) day after the date the Executive signs this Release. The effective date of this Release shall be the eighth (8th) day after the Executive signs this Release. If the last day of the Revocation Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. If the Executive does not execute this Release or exercises his right to revoke hereunder, he shall forfeit his right to receive any of the Termination Benefits, and to the extent such Termination Benefits have already been provided, the Executive agrees that he will immediately reimburse the Company for the amounts of such payment.