Calculation Agent Determinations Final and Binding Clause Samples
The 'Calculation Agent Determinations Final and Binding' clause establishes that any decisions or calculations made by the designated calculation agent are conclusive and enforceable for all parties involved. In practice, this means that if there is a dispute or ambiguity regarding financial calculations, such as interest rates, payment amounts, or valuation of assets, the calculation agent's determination will prevail unless there is a clear error or evidence of bad faith. This clause is essential for ensuring efficiency and certainty in contractual relationships by preventing prolonged disputes over calculations and providing a clear authority for resolving such matters.
POPULAR SAMPLE Copied 1 times
Calculation Agent Determinations Final and Binding. (a) All determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Accelerated Shortfall Amount, Accelerated Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final and binding absent manifest error. The Calculation Agent shall provide the Adviser and the Trust with copies of, or access to, all supporting documentation reasonably requested by such parties for the purpose of verifying the Shortfall Amount or Accelerated Shortfall Amount.
(b) Upon request of the Fund or Adviser, the Warranty Provider shall provide, or shall cause the Calculation Agent to provide, copies of the information used in, and the calculation supporting, its determination of the Shortfall Amount or Accelerated Shortfall Amount, as applicable.
Calculation Agent Determinations Final and Binding. All determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final, binding and unchallengeable absent manifest error.