Official Body Clause Samples
The 'Official Body' clause defines which governmental or regulatory authorities are recognized as having jurisdiction or authority over the agreement or its subject matter. In practice, this clause specifies the particular agencies, courts, or organizations whose decisions, approvals, or regulations may impact the parties' obligations or the execution of the contract. By clearly identifying the relevant official bodies, the clause helps prevent disputes over which authorities' rules apply, ensuring clarity and compliance throughout the contractual relationship.
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Official Body any regulator, government body, government agency, parliamentary commission, official trade body, or any similar body having legal authority to investigate the affairs of an Insured.
Official Body the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).