Answer: The giving of the Torah happens when we reach a deficiency for it. This is speaking about the Light, about giving from Above, not about receiving from below.
A person is not a free man; he is not free as long as he has not received the Torah. And after receiving the Torah, we begin to acquire the characteristic of Bina, freedom. This is freedom from our ego, from the desire to receive. And then it is possible to declare that we are working on receiving the Torah.
But on this day itself, when we are compelled under the pressure of the plagues of Pharaoh and all of the troubles that brought us to Mount Sinai, we agree to accept the mutual guarantee, but sill don’t have a strong enough desire In the meantime this is only the giving of the Torah, given from Above.
And receiving the Torah begins when we already approach its realization: beginning with the Ohr Hassadim, to bestow for the sake of bestowal, the correction of the desire of Galgalta ve Eynaim on all levels; and after this the correction of the desire of AHP on all levels. When we correct the desire of AHP, this is truly called the receiving of the Torah, for there the Light that Reforms is working with all its power.
From the 1st part of the Daily Kabbalah Lesson 6/3/14, Shamati #66 “The Giving of the Torah”