Receipt and Release for Payments Clause Samples
The 'Receipt and Release for Payments' clause serves to confirm that a party has received payment and releases the paying party from further liability regarding that payment. In practice, this clause typically requires the recipient to acknowledge receipt of funds, such as a final settlement or installment, and to formally waive any future claims related to that specific payment. Its core function is to provide legal certainty and closure for both parties by documenting that payment obligations have been fulfilled and preventing subsequent disputes over the same payment.
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Receipt and Release for Payments. Subject to the provisions of Section 17.1, any payment made from the Plan to or with respect to any Participant or Beneficiary, or pursuant to a disclaimer by a Beneficiary, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Plan and the Employer with respect to the Plan. The recipient of any payment from the Plan may be required by the Committee, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be acceptable to the Committee.
Receipt and Release for Payments. Unless otherwise provided in a separate Trust agreement, any payment to any Participant, his legal representative, Beneficiary, or to any guardian or committee appointed for such Participant or Beneficiary in accordance with the provisions of the Plan shall be in full satisfaction of all claims hereunder against the Trustee, Employer or Plan Administrator each of whom may require such Participant, legal representative, Beneficiary, guardian or committee as a condition prior to such payment, to execute a receipt and release in such form as shall be determined by the Trustee, Employer or Plan Administrator.
Receipt and Release for Payments. Any payment to any Participant, his legal representative, Beneficiary, or to any guardian or committee appointed for such Participant or Beneficiary in accordance with the provisions of the Plan, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Trustee and the Employer, either of whom may require such Participant, legal representative, Beneficiary, guardian or committee, as a condition precedent to such payment, to execute a receipt and release thereof in such form as shall be determined by the Trustee or Employer.
Receipt and Release for Payments. Any payment made from the Corporation to or with respect to the Executive or his beneficiary, or pursuant to a disclaimer by a beneficiary, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Corporation with respect to the Agreement. The recipient of any payment may be required by the Compensation Committee, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be acceptable to the Compensation Committee.
Receipt and Release for Payments. Any payment to the Executive, any beneficiary or any guardian for either shall, to the extent thereof, be in full satisfaction of any claim hereunder against RLI. RLI may require the distributee, as a condition precedent to such payment, to execute a receipt and release thereof in such form as shall be determined by RLI.
Receipt and Release for Payments. Any payment to any Participant, his legal representative, Beneficiary, any alternate payee, or to the estate of a Participant, Beneficiary or alternate payee, or to any guardian or committee appointed for such Participant, Beneficiary, alternate payee, or estate in accordance with the provisions of the Plan, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Trustee and the Employer (or Participating Employer), either of whom may require such Participant, legal representative, Beneficiary, alternate payee, guardian, or committee, or administrator or executor or such estate, as a condition precedent to such payment, to execute a receipt and release thereof in such form as shall be determined by the Trustee or Employer.
Receipt and Release for Payments. Any payment made to or with respect to the Executive or beneficiary under this Executive Agreement, or pursuant to a disclaimer by a beneficiary, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Bank. The recipient of any payment from this Executive Agreement may be required by the Bank, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be acceptable to the Bank.
Receipt and Release for Payments. Prior to any payment to any Beneficiary such individual may be required by the Trustee, Settlor, or Administrator to execute a receipt and release thereof in such form as shall be determined by the Settlor, Trustee, or Administrator.
Receipt and Release for Payments. Any payment to the Executive, -------------------------------- his Beneficiary, or a legal representative, guardian, or committee appointed for Executive or his Beneficiary in accordance with the provisions of this Agreement, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Trustee, the Company, and the Claims Reviewer. A payee, as a condition precedent to such payment, may be required to execute a receipt and release of the Trustee, the Company, and the Claims Reviewer in such form as shall be determined by the Trustee, the Company, and the Claims Reviewer in their reasonable discretion.
Receipt and Release for Payments. Any payment to any Participant, the Participant’s legal representative, Beneficiary, or to any guardian or committee appointed for such Participant or Beneficiary in accordance with the provisions of this Plan, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Insurer (or Trustee, if applicable) and the Employer, either of whom may require such Participant, legal representative, Beneficiary, guardian or committee, as a condition precedent to such payment, to execute a receipt and release thereof in such form as shall be determined by the Insurer or Employer. Any authorization of, or request for, payment directed to the Insurer shall be signed by the Administrator and/or Participant or Beneficiary.