Binding upon Receipt Sample Clauses

The 'Binding upon Receipt' clause establishes that an agreement or notice becomes legally effective as soon as the recipient receives it. In practice, this means that once a party receives a document—such as a contract amendment, notice of termination, or other formal communication—they are immediately bound by its terms, regardless of whether they have acknowledged or responded to it. This clause ensures certainty and prevents disputes about when obligations or rights under the agreement take effect, thereby reducing ambiguity and potential delays in enforcement.
Binding upon Receipt. No communication shall be binding on the Trustee until it is received by the Trustee, and no communication shall be binding on the Company, the Board of Directors or the Committee until it is received by the Company, the Board of Directors or the Committee, respectively and no communication shall be binding on a Participant or the Participant's Beneficiaries until it is received by the Participant or the Participant's Beneficiaries, respectively.
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Binding upon Receipt. No communication shall be binding on the Trustee, Company or Committee until it is received by such party.
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Binding upon Receipt. 24 9.4 Communication in Writing.................................................. 24 ARTICLE 10
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Binding upon Receipt. No communication shall be binding on the party to whom it is intended until it is received by such party.
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Binding upon Receipt. No communication shall be binding on the Trustee until it is received by the Trustee, no communication shall be binding on the Company until it is received by the Company, no communication shall be binding on a Participant until it is received by the Participant, no communication shall be binding on an HFCP Investor until it is received by the Ultimate General Partner and no communication shall be binding on the Management Voting Trust until it is received by the Voting Trustee representative (set forth in Section 13.5(a)).
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Related to Binding upon Receipt

  • Binding upon Successors This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives, successors and permitted assigns.

  • Binding Obligation Each Receivable represents the genuine, legal, valid and binding payment obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’ rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).

  • Binding Agreement This Agreement shall be binding and inure to the benefit of the Parties hereto and their respective heirs, legal successors, and assigns.

  • Binding Obligations The obligations expressed to be assumed by it in each Finance Document are, subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation), legal, valid, binding and enforceable obligations.

  • Binding Decision The arbitrator shall hear and determine the grievance, and shall issue a decision which is final and binding on the Parties and any person affected by it.