INTERPRETATION AND APPLICATION OF THE AGREEMENT Sample Clauses

INTERPRETATION AND APPLICATION OF THE AGREEMENT. The Competent Authorities of the Contracting Parties shall endeavor to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of this Agreement. In particular, the competent authorities may agree to a common meaning of a term.

INTERPRETATION AND APPLICATION OF THE AGREEMENT. This Agreement shall be interpreted and applied in the light of its primary purpose which is to enable the Organisation to fully and efficiently discharge its responsabilities and fulfil its tasks.

INTERPRETATION AND APPLICATION OF THE AGREEMENT. The competent authorities of the Contracting Tax Administrations shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of this Agreement. In particular, the competent authorities may agree to a common meaning of a term.

INTERPRETATION AND APPLICATION OF THE AGREEMENT. The Agreement shall be interpreted and applied according to the following: 2.2.1. The headings are for convenience only and shall be ignored in construing this Agreement. 2.2.2. If the singular presents the plural, plural presents singular, then numbers shall present the meaning other than where the context determines otherwise, the singular includes the plural and vice versa. 2.2.3. References to Clauses of the Law, rules, decisions, orders, methodology, similar legislative references shall include later made amendments. 2.2.4. Amendments and changes to the Agreement, attachments shall be considered legal acting document as a part of the Agreement and attachments. 2.2.5. Unless otherwise interpreted in the Agreement, the generally recognised technical and commercial terms shall have the same recognised meaning.

INTERPRETATION AND APPLICATION OF THE AGREEMENT. With regard to the disputes between the Parties on the interpretation or application of the Agreement, priority is given to amicable settlement, hence the first channel listed is the diplomatic channel, followed by the arbitration channel. As regards the settlement of investment disputes between a Party and an investor of the other Party, the Agreement also gives priority to amicable settlement, through negotiation between the Parties, followed by the submission of the dispute to the competent courts of the Party in the territory from which locates the investment, to an ad hoc arbitral tribunal, to the International Center for the Settlement of Investment Disputes (CIRDI) or to any other arbitration institution or in accordance with any other arbitration rules. As the Parties decide to submit the dispute to one of the procedures referred to in this Agreement, such decision is irreversible. Judgments will be recognized and enforced in accordance with applicable domestic and international law. It is also agreed that neither Party may resort to diplomatic channels to resolve any issue related to arbitration, unless the process has already been completed and the Party has not accepted or complied with the decision. Finally, the Parties have instituted that, if the domestic law of one of the Parties or the international law in force or that will come into force between both Parties establishes a legal regime that grants investments made by investors of the other Party a more favorable treatment than what is provided for in this Agreement, the most favorable regime will prevail. A general obligation has also been defined for the Parties, whenever necessary, to consult each other on any matter relating to the application of this Agreement, at a place and date to be agreed through diplomatic channels. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ – Lawyer