How is Receipt of Payment defined in a legal contract?
- Receipt of Payment means receipt by a financial institution of: (1) a certified or official bank check or wire transfer to the institution; (2) a written or telegraphic advice from a registered clearing agency that funds have been or will be credited to the account of the institution; or (3) a transfer of funds from any of the broker's accounts maintained at the institution. Seen in 18 SEC filings.
- Receipt of Payment means receipt by a custodian of: (1) a certified or official bank check or wire transfer to the custodian; (2) a written or telegraphic advice from a registered clearing agency that funds have been or will be credited to the account of the custodian; or (3) a transfer of funds from any of the broker's accounts maintained at the custodian. Seen in 9 SEC filings.
- Receipt of Payment means receipt by a bank of (1) a certified or official bank check; or (2) a written or telegraphic advice from a registered clearing agency that funds have been or will be credited to the bank. Seen in 1 SEC filing.
- Receipt of Payment means the date the fee that meets the criteria for the selected category and fee type is received by the regulatory body, for the purpose of calculating fee refunds. Seen in 1 SEC filing.
Please note that this is a simplified representation of how the term 'Receipt of Payment' is typically defined in legal contracts. The precise definition may vary based on the context of the contract.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of receipt of payment' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Receipt of Payment means the acquisition by [organization] of certified bank checks, wire transfers, or account credits confirmed by a registered clearing agency.
Relevant Contract Types
Relevant Circumstances
- Full Payment for Goods or Services
- Monthly Rent Payment for a Lease
- Payment for Consulting Services
Relevant Sectors
Genie Definition 2
- Receipt of Payment means the date [organization] receives the fee meeting the chosen criteria for calculating refunds.
Relevant Contract Types
Relevant Circumstances
- Subscription Renewal Payments
- Refunds for Service Cancellation
- Adjustments for Licensing Fees
Relevant Sectors
Receipt of Payment means the acquisition by [organization] of certified bank checks, wire transfers, or account credits confirmed by a registered clearing agency.
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