Common use of Receipt and Release for Payments Clause in Contracts

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.