Define: Release Payment

How is Release Payment defined in a legal contract?

• Release Payment means the funds mentioned in a lender's or seller's agreement, as relevant. Seen in 9 SEC filings.
• Release Payment means the funds related to the sale or other disposition of any asset, or any direct or indirect interest in the asset owned by the business or subsidiary. The payment is calculated as 110% of the allocated amount for that property minus the amount of any distributions related to the unrecovered capital of the class A member that were previously made from the net sale proceeds, net disposition proceeds and/or net financing proceeds from that property. Seen in 7 SEC filings.
• Release Payment means the funds connected with any removed asset for which a payment is required to be made by the issuer or servicer under an agreement. This payment is calculated on a remittance date on which the release payment must be made, as the excess, if any, of the original funding amount loaned with respect to the pool containing such removed asset over the aggregate amount of all net proceeds on and after the funding date with respect to that removed asset. Seen in 5 SEC filings.
• Release Payment means a severance payment from the company to the participant in an amount equal to: firstly, the product of a specified calculation multiplied by a specified value, multiplied by a count of quarterly distribution dates occurring between the participant's separation of service date and a specified future date; and secondly, if the participant separates after a certain date, the product of the number of units withheld to pay applicable income and employment tax, multiplied by a specified value, multiplied by a count of the quarterly distribution dates between a specified date and the date the participant separated from service. Seen in 4 SEC filings.

Please note that any specific numeric values, referenced clauses or sections, and identified organizational entities in the original definitions have been generically summarized to assist comprehension and ensure a more global application.

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 release payment' yourself to verify these results. We are always keen to point people to source documents.

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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.

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Genie Definition 1

Release Payment means the funds related to a disposition or sale of an asset or an interest therein, calculated using a set formula.

Relevant Contract Types

• Asset Purchase Agreement
• Sales Contract
• Loan Agreement
• Sale and Leaseback Agreement

Relevant Circumstances

• Disposition or sale of an asset
• Restructuring of ownership interests
• Refinancing of debts

Relevant Sectors

• Finance
• Property & Real Estate
• Manufacturing

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Genie Definition 2

Release Payment means a severance payment from [organization] to [individual], calculated in accordance with predefined conditions.

Relevant Contract Types

• Employment Agreement
• Termination Agreement
• Settlement Agreement

Relevant Circumstances

• Termination of Employee
• Settlement of Disputes
• Restructuring of a business

Relevant Sectors

• Human Resources
• Legal
• Management

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