Common use of Determination by Trustees Binding Clause in Contracts

Determination by Trustees Binding. All questions or controversies, of whatsoever character, arising in any manner or between any parties or persons in connection with the Trust or its operation, whether as to any claim for payment, or as to the construction of language or meaning of this Agreement, the ProComp Agreement as it relates to the Trust, or by-laws, rules and regulations adopted by the Trustees, or as to any writing, decision, instrument or account in connection with the operation of the Trust or otherwise, shall be submitted to the Trustees or, where Trustee responsibility has been delegated to others, to such delegates for decision. The decision of the Trustees or their delegates shall be binding upon all persons dealing with the Trust or claiming any payment thereunder, except to the extent that such decision may be determined to be arbitrary or capricious by a court having jurisdiction over such matter.