Processing of Award Clause Samples

The "Processing of Award" clause defines the procedures and responsibilities for handling an award, typically following a decision in arbitration or litigation. It outlines the steps required to formalize, distribute, and, if necessary, enforce the award, such as timelines for payment, notification to parties, and documentation requirements. This clause ensures that all parties understand how the award will be implemented, thereby promoting efficiency and reducing disputes over the execution of the decision.
Processing of Award 
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Related to Processing of Award

  • Vesting of Award Subject to Section 2(b) below and the other terms and conditions of this Agreement, this Award shall become vested in three equal annual installments on the first, second and third anniversaries of the date hereof. Unless otherwise provided by the Company, all dividends and other amounts receivable in connection with any adjustments to the Shares under Section 4(c) of the Plan shall be subject to the vesting schedule in this Section 2(a).

  • Notice of Award DFPS may use a Notice of Award to announce, modify, or clarify the annual Grant budget, source of funding, performance measures, or other Grant requirements.

  • Letter of Award Prior to the expiry of the Tender Validity Period and upon expiry of the Standstill Period specified in ITT 42, upon addressing a complaint that has been filed within the Standstill Period, the Procuring Entity shall transmit the Letter of Award to the successful Tenderer. The letter of award shall request the successful tenderer to furnish the Performance Security within 21days of the date of the letter.

  • Payment of Award The Performance Shares that may become payable pursuant to this Award Agreement shall be based upon the highest performance determined in accordance with the provisions of Section 4 or, in the event of a Change in Control prior to the Final Measurement Date, based on performance at the level determined in accordance with the provisions of Section 3.4. In other words, the attainment of multiple performance measures under this Award Agreement will not result in the payment of a cumulative number of Performance Shares for each performance measure achieved. Payment of the Award, to the extent earned, shall be made as follows:

  • Notification of Award 30.1 Prior to the expiration of the period of bid validity, the Purchaser will notify the successful Bidder in writing by registered letter or by email, to be confirmed in writing by registered letter, that its bid has been accepted.