Dealer Fallback Sample Clauses

The Dealer Fallback clause establishes a backup procedure for determining a reference rate or value when the primary source is unavailable or fails. In practice, this clause typically designates one or more dealers or market participants who will provide the necessary rate or value, often based on their own independent assessment or market quotes. Its core function is to ensure continuity and certainty in contractual obligations by providing an alternative method for rate determination, thereby mitigating the risk of disruption due to unavailable benchmarks.
Dealer Fallback. On or after six Business Days following the first Calculation Date on which the Market Disruption Event occurred or existed, the Parties shall promptly and jointly agree upon three independent leading participants in the relevant market ("Dealers") selected in good faith from among participants of the highest credit standing which satisfy all the criteria that the Parties apply generally in deciding whether to offer or to make an extension of credit or to enter into a transaction comparable to the Individual Contract that is affected by the Market Disruption Event. The Dealers shall be appointed to make a determination of the Alternative Settlement Price taking into consideration the latest available quotation for the relevant commodity reference price and any other information that in good faith is deemed relevant. The Alternative Settlement Price shall be the arithmetic mean of the three amounts determined to be the Alternative Settlement Price by each Dealer, in which case the calculation shall be binding and conclusive in the absence of manifest error.
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Dealer Fallback which means that the parties shall expeditiously and jointly and in good faith agree on three independent leading dealers in the principal trading market for the relevant underlying commodity market from among those dealers with the highest credit standing. Such dealers shall be appointed to make a determination of the reasonable price payable for the shipments to be made under this Agreement taking into consideration the latest available quotation for the relevant commodity and any other information that, in good faith, they deem relevant. The price to be paid under this Agreement shall be the arithmetic mean of the three prices determined by such dealers, in which case such calculation shall be binding and conclusive absent manifest error. If the parties have not agreed upon the appointment of the dealers on or before the sixth Business Day following the day on which this clause becomes applicable, or if a determination of the price cannot be obtained from at least three dealers, then the dispute shall be referred to arbitration in accordance with clause 22.
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Related to Dealer Fallback

  • Callback Regular employees called back to work on their regular time off shall receive a minimum of two hours overtime pay at the applicable rate.

  • Dealer Agreement The sales and/or servicing agreements between CAC or its subsidiaries and a participating Dealer which sets forth the terms and conditions under which CAC or its subsidiaries (i) accepts, as nominee for such Dealer, the assignment of Contracts for purposes of administration, servicing and collection and under which CAC or its subsidiary may make advances to such Dealers and (ii) accepts outright assignments of Contracts from Dealers or funds Contracts originated by such Dealer in the name of CAC or any of its subsidiaries, in each case as such agreements may be in effect from time to time.

  • Dealer The seller of automobiles or light trucks that originated one or more of the Receivables and assigned the respective Receivable, directly or indirectly, to Ally Bank under an existing agreement between such seller and Ally Bank. Dealer Agreement: An existing agreement between Ally Bank or one of its Affiliates and a Dealer with respect to a Receivable. Default: Any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default.

  • Test method This test is intended to demonstrate the immunity of the vehicle electronic systems. The vehicle shall be subject to electromagnetic fields as described in this annex. The vehicle shall be monitored during the tests. If not otherwise stated in this annex the test shall be performed according to ISO 11451-2.

  • Selected Dealer Agreements a. The Distributor shall have the right to enter into selected dealer agreements with securities dealers of its choice ("selected dealers") for the sale of Class C Shares; provided, that the Corporation shall approve the forms of agreements with dealers. Class C Shares sold to selected dealers shall be for resale by such dealers only at net asset value determined as set forth in Section 3(d) hereof. The form of agreement with selected dealers to be used during the subscription period described in Section 3(a) is attached hereto as Exhibit A and the form of agreement with selected dealers to be used in the continuous offering of the Class C Shares is attached hereto as Exhibit B. b. Within the United States, the Distributor shall offer and sell Class C Shares only to such selected dealers as are members in good standing of the NASD.