Powers And Duties Of The Bank. The Bank shall administer the Agreement in accordance with its terms and shall have the power and discretion to construe the terms of the Agreement, resolve any ambiguities in the Agreement, and to determine all questions arising in connection with the administration, interpretation and application of the Agreement. Any such determination by the Bank shall be conclusive and binding upon all persons. The Bank may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the Agreement; provided, however, that any such procedure, discretionary act, interpretation or construction shall be consistent with the intent set forth in the Income Tax Status and ERISA Status paragraphs above. ARTICLE 6.
Appears in 9 contracts
Samples: Director Retirement Agreement (Community Valley Bancorp), Bank Director Retirement Agreement (Community Valley Bancorp), Continuation Agreement (Community Valley Bancorp)
Powers And Duties Of The Bank. The Bank shall administer the Agreement in accordance with its terms and shall have the power and discretion to construe the terms of the Agreement, resolve any ambiguities in the Agreement, and to determine all questions arising in connection with the administration, interpretation and application of the Agreement. Any such determination by the Bank shall be conclusive and binding upon all persons. The Bank may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the Agreement; provided, however, that any such procedure, discretionary act, interpretation or construction shall be consistent with the intent set forth in the Income Tax Status and ERISA Status paragraphs above. ARTICLE 6.
Appears in 3 contracts
Samples: Bank Director Retirement Agreement (Community Valley Bancorp), Salary Continuation Agreement (Community Valley Bancorp), Bank Director Retirement Agreement (Community Valley Bancorp)
Powers And Duties Of The Bank. The Bank shall administer the Agreement in accordance with its terms and shall have the power and discretion to construe the terms of the Agreement, resolve any ambiguities in the Agreement, and to determine all questions arising in connection with the administration, interpretation and application of the Agreement. Any such determination by the Bank shall be conclusive and binding upon all persons. The Bank may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the Agreement; provided, however, that any such procedure, discretionary act, interpretation or construction shall be consistent with the intent set forth in the Income Tax Status and ERISA Status paragraphs above. ARTICLE 67.
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