Effective interpretation Sample Clauses

Effective interpretation. Under the principle of effective interpretation (effete utile), when the wording of the agreement raises the question whether the intent to arbitrate exists or not (e.g. in a pathological, optional arbitration clause), weight should be given to the interpretation which results in the arbitration clause being effective rather than one which “renders them useless or nonsensical”.298 In other words, the principle relying on consent assumes that parties who have included an arbitration clause in their contract have intended that the clause is also effective (ut res magis valeat quam pereat).299 293 See ibid. 294 See Saudi Arabia v. Arabian American Oil Co. (ARAMCO), 27 International Law Report 117 (1963). 295 See Lehrberg 1995, pp. 66-67. 296 See Waincymer 2012, p. 140. 297 See Hemmo 2007a, pp. 586-587; KKO 1997:134. 298 See Xxxxxxxx-Xxxxxx 1999, pp. 258-259; Aho 1968, p. 257; Hemmo 2007a, pp. 652-653; Article 4.5 of the UNIDROIT Principles of International Commercial Contracts; Article 5.106 of the Principles of European Contract Law. 299 See Waincymer 2012, p. 141; Born 2009, p. 1065. It is noteworthy that Xxxxxxxxx asserts that the principle of effective interpretation is well suited for evaluating the existence of the arbitration agreement, but not so much as to the subjective scope thereof because “there typically is no starting point where that person can be presumed to want a valid arbitration”.300 While this is true in the sense that the non- signatory is typically not present when the arbitration agreement is drafted and therefore any determination as to the non-signatory’s intent is obviously futile, the principle may be deemed to carry significance when considering whether the signatory parties meant to include the non-signatory beneficiary in the scope of the arbitration agreement. Although this topic will be discussed below, it may already be stated briefly that it would be rather peculiar if the signatories deliberately wanted to exclude the non-signatory from possible arbitration proceedings and thus possibly subject themselves to multiple proceedings in several fora.
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Related to Effective interpretation

  • Interpretation, etc Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Section, Appendix, Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the word “include” or “including,” when following any general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not no limiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term or matter.

  • Interpretation of results 2.1.3.1. In the case of all vehicles, the time t shall not exceed 20 seconds.

  • 2Interpretation The interpretation and construction of the Contract shall be subject to the following provisions:

  • Contract Interpretation The Contract Documents completely describe the Services to be provided. Contractor will provide any Services that may reasonably be inferred from the Contract Documents or from prevailing custom or trade usage as being required to produce the intended result whether or not specifically called for or identified in the Contract Documents. Words or phrases which have a well-known technical or construction industry or trade meaning and are used to describe Services will be interpreted in accordance with that meaning unless a definition has been provided in the Contract Documents.

  • Interpretation; Effect When a reference is made in this Agreement to Sections, Exhibits or Schedules, such reference shall be to a Section of, or Exhibit or Schedule to, this Agreement unless otherwise indicated. The table of contents and headings contained in this Agreement are for reference purposes only and are not part of this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

  • Integration; Interpretation The Loan Documents contain or expressly incorporate by reference the entire agreement of the parties with respect to the matters contemplated therein and supersede all prior negotiations or agreements, written or oral. The Loan Documents shall not be modified except by written instrument executed by all parties. Any reference to the Loan Documents includes any amendments, renewals or extensions now or hereafter approved by Lender in writing.

  • Neutral Interpretation This Agreement constitutes the product of the negotiation of the parties hereto and the enforcement hereof shall be interpreted in a neutral manner, and not more strongly for or against any party based upon the source of the draftsmanship hereof.

  • Construction; Interpretation The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. Unless otherwise indicated to the contrary herein by the context or use thereof: (i) the words, “herein,” “hereto,” “hereof” and words of similar import refer to this Agreement as a whole, including the Schedules and exhibits, and not to any particular section, subsection, paragraph, subparagraph or clause contained in this Agreement; (ii) masculine gender shall also include the feminine and neutral genders, and vice versa; (iii) words importing the singular shall also include the plural, and vice versa; (iv) the words “include,” “includes” or “including” shall be deemed to be followed by the words “without limitation”; (v) financial terms shall have the meanings given to such terms under GAAP unless otherwise specified herein; (vi) references to “$” or “dollar” or “US$” shall be references to United States dollars; (vii) where the context permits, the use of the term “or” will be non-exclusive and equivalent to the use of the term “and/or”; (viii) the word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”; and (ix) if any action under this Agreement is required to be done or taken on a day that is not a Business Day or on which a government office is not open with respect to which a filing must be made, then such action shall be required to be done or taken not on such day but on the first succeeding Business Day thereafter.

  • Intention of the Parties and Interpretation Each of the parties acknowledges and agrees that the purpose of Article XI of this Agreement is to facilitate compliance by the Securities Administrator, the Master Servicer and the Depositor with the provisions of Regulation AB promulgated by the SEC under the 1934 Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be amended from time to time and subject to clarification and interpretive advice as may be issued by the staff of the SEC from time to time. Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) the parties shall comply (to the extent practical from a timing and information systems perspective) with requests made by the Securities Administrator, the Master Servicer or the Depositor for delivery of additional or different information as the Securities Administrator, the Master Servicer or the Depositor may determine in good faith is necessary to comply with the provisions of Regulation AB, and (d) no amendment of this Agreement shall be required to effect any such changes in the parties’ obligations as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.

  • Interpretation Nothing herein contained shall be deemed to require the Trust or the Fund to take any action contrary to the Trust’s Declaration of Trust or Bylaws, or any applicable statutory or regulatory requirement to which it is subject or by which it is bound, or to relieve or deprive the Trust’s Board of Trustees of its responsibility for and control of the conduct of the affairs of the Trust or the Fund.

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