Determinations and reliance Sample Clauses
The "Determinations and reliance" clause defines how decisions or judgments made by one party under the contract are to be formed and the extent to which the other party can depend on those decisions. Typically, this clause outlines the standards or criteria that must be used when making determinations, such as acting reasonably or in good faith, and may specify whether the other party is entitled to rely on those determinations without further investigation. Its core function is to provide clarity and trust in the decision-making process within the contract, reducing disputes by setting expectations for both parties regarding how determinations are made and relied upon.
Determinations and reliance. For non- cleared swaps and non-cleared secu- rity-based swaps entered into by cov- ered swap entities described in para- graph (d)(3) of this section, a covered swap entity may satisfy the provisions of this subpart by complying with the foreign regulatory framework for non- cleared swaps and non-cleared secu- rity-based swaps that the prudential regulators jointly, conditionally or un- conditionally, determine by public order satisfy the corresponding re- quirements of §§ 349.3 through 349.8 and §§ 349.10 through 349.12.