Common use of GENERAL CONSTRUCTION AND INTERPRETATION Clause in Contracts

GENERAL CONSTRUCTION AND INTERPRETATION. In our opinion: when we determine a matter in our opinion, the determination is made at our absolute discretion. When we act or refuse to act: on any matter including any instruction or transaction, we do not need to provide any reason for our act or refusal unless required by the law. Timing: if we receive any instruction on a nonbusiness day or after the specified clearance or cutoff times, we may treat the instruction as received on the following business day.