Acknowledgment of Benefits Clause Samples
An Acknowledgment of Benefits clause serves to confirm that a party recognizes and accepts the advantages, rights, or value received under an agreement. In practice, this clause may require a party to state that they have received certain goods, services, payments, or other contractual benefits, and that they are satisfied with what has been provided. Its core function is to prevent future disputes by documenting that the party has received and acknowledged the agreed-upon benefits, thereby reducing the risk of later claims of non-performance or dissatisfaction.
POPULAR SAMPLE Copied 2 times
Acknowledgment of Benefits. Each Guarantor acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Finance Documents and that the waivers set forth in this Clause 16 are knowingly made in contemplation of such benefits.
Acknowledgment of Benefits. Consideration. Executive agrees and acknowledges that the Separation Payment and eligibility for the Bonus Payment, described above at subparts (a) and (c), collectively constitute the Separation Package. Executive further agrees and acknowledges that the Separation Package is above and beyond that to which Executive would otherwise be entitled, including pursuant to any Company policy, practice or plan addressing bonuses, incentives, awards or any other compensation, and thus constitutes valid consideration in support of this Agreement, specifically including but not limited to Executive’s release of claims. Executive agrees and acknowledges that Executive has no entitlement to receive any or all of this Separation Package, unless Executive enters into this Agreement. Executive further agrees and acknowledges that Executive is not and shall not be entitled to any additional payments or benefits of any kind that are not expressly provided for in this Agreement. Executive further agrees and acknowledges that the Company reserves the right to discontinue and recoup the Separation Package in the event Executive breaches any of the terms or conditions of this Agreement. Executive shall be solely and exclusively responsible for any taxes or liabilities relating to Executive’s receipt of the Separation Package (or any portion thereof).
Acknowledgment of Benefits. Each Subsidiary Guarantor acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Transaction Documents and that the waivers set forth in this Section 18 are knowingly made in contemplation of such benefits.
Acknowledgment of Benefits. You agree and acknowledge that the payments and benefits to be made in accordance with paragraphs 2 through 8, exceed any sums of which you would otherwise be entitled under any AMBAC policy, plan and/or procedure. /s/ WDN /s/ JRE --------- --------- WDN JRE
Acknowledgment of Benefits. Each Guarantor acknowledges that a portion of the Loans may be directly or indirectly advanced for its benefit, that Letters of Credit may be issued for the direct or indirect benefit of its business, that it receives direct and indirect benefits from the Swap Agreements, and that the Guaranteed Obligations are being incurred for and will inure to its direct and indirect benefit.
Acknowledgment of Benefits. The Guarantor acknowledges that the Guaranteed Obligations are being incurred for and will inure to its direct and indirect benefit.
Acknowledgment of Benefits. Employee understands that any payments or benefits paid or granted to them pursuant to Paragraph 2 hereof represent consideration for signing this Agreement and are not salary, payments or benefits to which they were already entitled. Employee further acknowledges and agrees that the payments, benefits and other consideration that they are receiving pursuant to this Agreement are just and sufficient consideration for the waivers, releases, covenants, restrictions, and commitments set forth in this Agreement. Employee understands and agrees that they will not receive the payments and benefits specified in Paragraph 2 hereof unless they execute this Agreement and do not revoke this Agreement within the time period permitted.
Acknowledgment of Benefits. The Relevant Parent acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Transaction Documents and that the waivers set forth in this Section 18 are knowingly made in contemplation of such benefits.
Acknowledgment of Benefits. Each of the Borrowers acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Finance Documents and the Master Agreements and that the waivers set forth in this Clause 16A are knowingly made in contemplation of such benefits.