Accord and Satisfaction. The amounts set forth in the Amended and Restated Executive Officer Change in Control Agreement shall be complete and unconditional payment, settlement, accord and/or satisfaction with respect to all obligations and liabilities of the Released Parties to me, including, without limitation, all claims for back wages, salary, vacation pay, draws, incentive pay, bonuses, cash awards, equity awards, commissions, severance pay, reimbursement of expenses, any and all other forms of compensation or benefits, attorney’s fees, or other costs or sums. Revocation Period: I may revoke this Release Agreement at any time during the seven-day period immediately following my execution hereof. As a result, this Release Agreement shall not become effective or enforceable and the Company shall have no obligation to make any payments or provide any benefits described herein until the seven-day revocation period has expired. Name: Date Witness Date IF YOU DO NOT WISH TO USE THE 21-DAY PERIOD, PLEASE CAREFULLY REVIEW AND SIGN THIS DOCUMENT I, , acknowledge that I was informed and understand that I have 21 days within which to consider the attached Release Agreement, have been advised of my right to consult with an attorney regarding such Agreement and have considered carefully every provision of the Agreement, and that after having engaged in those actions, I prefer to and have requested that I enter into the Agreement prior to the expiration of the 21 day period. Dated: Name: Dated: Witness
Accord and Satisfaction. No payment by Lessee or receipt by Lessor of a lesser amount than the rent and additional charges payable hereunder shall be deemed to be other than a payment on account of the earliest stipulated Fixed Basic Rent and Additional Rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment for Fixed Basic Rent or Additional Rent be deemed an accord and satisfaction, and Lessor may accept such check or payment without prejudice to Lessor's right to recover the balance of such Fixed Basic Rent and Additional Rent or pursue any other remedy provided herein or by law.
Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than any installment or payment of Rental due shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment of Rental shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such installment or payment of Rental or pursue any other remedies available to Landlord. No receipt of money by Landlord from Tenant after the termination of this Lease or Tenant's right of possession of the Premises shall reinstate, continue or extend the Term.
Examples of Accord and Satisfaction in a sentence
Novation Accord and satisfaction Contractual change Mutual rescission Xxxx xxxxx Xxxx to mow his lawn while he is on vacation to Europe for 8 weeks and agrees to pay her $50 each time she mows, but she should only mow as the grass needs it.
Accord and satisfaction imply an agreement to take the money in satisfaction of the claim in respect of which it is sent.
Accord and satisfaction, if any, will be accomplished by a separate document executed by both parties.
More Definitions of Accord and Satisfaction
Accord and Satisfaction. The amounts set forth in the Agreement Regarding Termination Benefits shall be complete and unconditional payment, settlement, accord and/or satisfaction with respect to all obligations and liabilities of the Released Parties to me, including, without limitation, all claims for back wages, salary, vacation pay, draws, incentive pay, bonuses, stock and stock options, commissions, severance pay, reimbursement of expenses, any and all other forms of compensation or benefits, attorney’s fees, or other costs or sums. Revocation Period: I may revoke this Release Agreement at any time during the seven-day period immediately following my execution hereof. As a result, this Release Agreement shall not become effective or enforceable and the Company shall have no obligation to make any payments or provide any benefits described herein until the seven-day revocation period has expired.
Accord and Satisfaction. No act or thing done by Landlord or Landlord's agents during the term hereof, including, but not limited to, any agreement to accept surrender of the Premises or to amend or modify this Lease, shall be deemed to be binding on Landlord, unless such act or thing shall be by a partner or officer of Landlord, as the case may be, or a party designated in writing by Landlord as so authorized to act. The delivery of keys to Landlord, or Landlord's agents, employees, or officers shall not operate as a termination of this Lease or a surrender of the Premises. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly rent and all other amounts owing, as herein stipulated, shall be deemed to be other than on account of the earliest stipulated rent or other amounts nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy available to Landlord.
Accord and Satisfaction. The amounts set forth in the Agreement Regarding Termination Benefits shall be complete and unconditional payment, settlement, accord and/or satisfaction with respect to all obligations and liabilities of the Released Parties to me, including, without limitation, all claims for back wages, salary, vacation pay, draws, incentive pay, bonuses, cash awards, Equity Awards, commissions, severance pay, reimbursement of expenses, any and all other forms of compensation or benefits, attorney’s fees, or other costs or sums.
Accord and Satisfaction. The amounts set forth in the Executive Officer Agreement shall be complete and unconditional payment, settlement, accord and/or satisfaction with respect to all obligations and liabilities of the Released Parties to me, including, without limitation, all claims for back wages, salary, vacation pay, draws, incentive pay, bonuses, cash awards, equity awards, commissions, severance pay, reimbursement of expenses, any and all other forms of compensation or benefits, attorney’s fees, or other costs or sums. Revocation Period: I may revoke this Release Agreement at any time during the seven-day period immediately following my execution hereof. As a result, this Release Agreement shall not become effective or enforceable and the Company shall have no obligation to make any payments or provide any benefits described herein until the seven-day revocation period has expired. /s/ Xxxxxxx Xxxxxxx July 17, 2019 Name: Xxxxxxx Xxxxxxx Date /s/ Xxxxx Xxxxx July 17, 2019 Witness Date IF YOU DO NOT WISH TO USE THE 21-DAY PERIOD, PLEASE CAREFULLY REVIEW AND SIGN THIS DOCUMENT I, Xxxxxxx Xxxxxxx, acknowledge that I was informed and understand that I have 21 days within which to consider the attached Release Agreement, have been advised of my right to consult with an attorney regarding such Release Agreement and have considered carefully every provision of the Release Agreement, and that after having engaged in those actions, I prefer to and have requested that I enter into the Release Agreement prior to the expiration of the 21-day period. Dated: July 17, 2019 /s/ Xxxxxxx Xxxxxxx Name: Xxxxxxx Xxxxxxx Dated: July 17, 2019 /s/ Xxxxx Xxxxx
Accord and Satisfaction means an agreement between the parties that something shall be given to, or done for, the person who has the right of action, in satisfaction of the cause of action. There must be not only agreement (‘accord’) but also consideration (‘satisfaction’). Such an arrangement is really one of substituted performance.” 1 E.W. Chance, Principles of Mercantile Law 101 (P.W. French ed., 13th ed. 1950). Black’s Law Dictionary (online) 11th Ed. 2019.
Accord and Satisfaction. The settlement of a contract dispute. Adequacy of consideration: A value of the bargain that is equal to or reasonably proportioned to the value of that for which it is given. Bargained-for exchange: Exchange that parties engage in that leads to an enforceable contract. Best-efforts contract: A contract clause that requires one or both of the parties to use their best efforts to achieve the objective of the contract. Consideration: Something of legal value given in exchange for a promise. Equitable relief: The kind of relief sought in a court with equity powers (e.g. injunction, specific performance of a contract). Equitable remedies: A remedy based upon settled rules of fairness, justice, and honesty. Equity: A doctrine that permits judges to make decisions based on fairness, equality, moral rights, and natural law. Gift promises: An unenforceable promise because it lacks consideration. Illegal consideration: A promise to refrain from doing an illegal act. Such a promise will not support a contract. Illusory promises: A contract into which both parties enterer, but one or both of the parties can choose not to perform their contractual obligations. Thus the contract lacks consideration. Injunction: A court order that prohibits a person from doing a certain act. Legal value: Where the promise suffers a legal detriment or the promisor receives a legal benefit. Moral obligation: A duty that rests on moral considerations alone and is not imposed or enforced by positive law; a duty binding in conscience but not in law. Output contract: A contract in which one party agrees to sell his or her entire output and the other agrees to buy it. Past consideration: A prior act or performance. Past consideration (prior acts) will not support a new contract. New consideration must be given. Preexisting duty: A promise lacks consideration if a person promises to perform an act or do something he or she is already under an obligation to do. Promissory estoppel (detrimental reliance) Remedies at law: Economic compensation in the form of real property, personal property and money. Requirements contract: A contract in which the purchaser agrees to buy all of its needs of specified material from a particular supplier, and then latter agrees to fill of the purchaser’s need during the period of the contract. Rescission: An action to rescind (undo) the contract. Rescission is available if there has been a material breach of contract, fraud, duress, undue influence, or mistake.
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