Determination by Trustees Binding Sample Clauses
The 'Determination by Trustees Binding' clause establishes that any decisions or determinations made by the trustees are final and binding on all parties involved. In practice, this means that if there is any ambiguity or dispute regarding the interpretation or application of the trust's terms, the trustees have the authority to resolve it, and their decision must be accepted by beneficiaries and other stakeholders. This clause ensures efficient administration of the trust by preventing prolonged disputes and providing a clear mechanism for resolving uncertainties.
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Determination by Trustees Binding. All questions or controversies, of whatsoever character, arising in any manner or between any parties or persons in connection with the Trust or its operation, whether as to any claim for payment, or as to the construction of language or meaning of this Agreement, the ProComp Agreement as it relates to the Trust, or by-laws, rules and regulations adopted by the Trustees, or as to any writing, decision, instrument or account in connection with the operation of the Trust or otherwise, shall be submitted to the Trustees or, where Trustee responsibility has been delegated to others, to such delegates for decision. The decision of the Trustees or their delegates shall be binding upon all persons dealing with the Trust or claiming any payment thereunder, except to the extent that such decision may be determined to be arbitrary or capricious by a court having jurisdiction over such matter.
Determination by Trustees Binding. The Trustees retain discretion to construe the Plan terms and to determine when Plan benefits will be paid. The Trustees or, where Trustee responsibility has been delegated to others, such delegates shall have complete authority to determine the standard of proof required in any case and to apply and interpret the Plan. Benefits under the Plan will be paid only if the Trustees decide in their discretion that the Participant or the Participant's beneficiary is entitled to them. The decisions of the Trustees or their delegates shall be final and binding. All questions or controversies, of whatsoever character, arising in any manner or between any parties or persons in connection with the Plan or its operation, whether as to any claim for benefits, or as to the construction of language or meaning of the Plan or rules and regulations adopted by the Trustees, or as to any writing, decision, instrument or account in connection with the operation of the Plan or otherwise, shall be submitted to the Trustees or, where Trustee responsibility has been delegated to others, to such delegates for decision. The decision of the Trustees or their delegates shall be binding upon all persons dealing with the Plan or claiming any benefit hereunder, except to the extent that such decision may be determined to be arbitrary or capricious by a court having jurisdiction over such matter.