Certificate by Security Trustee Sample Clauses
The 'Certificate by Security Trustee' clause establishes that a certificate or statement issued by the security trustee is deemed conclusive evidence of certain facts or amounts in relation to the agreement. In practice, this means that if there is a dispute over, for example, the amount owed or whether a particular event has occurred, the security trustee’s certificate will be accepted as definitive unless there is a manifest error. This clause streamlines dispute resolution and provides certainty for all parties by designating a trusted authority to make binding determinations, thereby reducing the potential for prolonged disagreements.
Certificate by Security Trustee. For the purposes of Clauses 17.1 and 17.2, a certificate in writing signed by or on behalf of the Security Trustee to the effect that any particular transfer, assignment, assurance, act or thing required by it is required shall (in the absence of manifest error) be conclusive evidence of the fact.