Determinations under Section 9 Clause Samples
The "Determinations under Section 9" clause defines the process and authority for making decisions or resolving issues that arise under Section 9 of an agreement. Typically, this clause outlines who is responsible for making such determinations—such as a party, a third-party expert, or an arbitrator—and may specify the criteria or procedures to be followed. For example, it might address how disputes over calculations, compliance, or performance are to be settled. The core function of this clause is to provide a clear and agreed-upon mechanism for resolving uncertainties or disagreements related to Section 9, thereby reducing the risk of protracted disputes and ensuring smoother contract administration.
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Determinations under Section 9. Without limiting the generality of the provisions of Section 13.1.4, for purposes of determining compliance with the conditions specified in this Section 9, each Bank that has signed this Credit Agreement shall be deemed to have consented to, approved, accepted and to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Bank unless the Administrative Agent shall have received notice from such Bank prior to the proposed Closing Date specifying its objection thereto.