POWER TO INTERPRET Clause Samples
The "Power to Interpret" clause grants a designated party, often the contract drafter or a specific authority, the right to determine the meaning and application of the contract's terms. In practice, this means that if any ambiguity or dispute arises regarding the language or intent of the agreement, the specified party has the authority to clarify or decide how the provisions should be understood. This clause is primarily used to prevent prolonged disputes over interpretation and to ensure that the contract is applied consistently according to the drafter's intended meaning.
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POWER TO INTERPRET. Event management shall have the full power in interpretation and enforcement of all terms and rules contained herein, and such further rules and regulations as it shall consider necessary for the proper conduct related to participation in the event related to this agreement.
POWER TO INTERPRET. Promoter shall have the full power in interpretation and enforcement of all terms and rules contained herein and such further rules and regulations as it shall consider necessary for the proper conduct and safety of the show.
POWER TO INTERPRET. ▇▇▇▇▇ shall have the full power in interpretation and enforcement of all terms and rules contained herein and such further rules and regulations as it shall consider necessary for the proper conduct and safety of the OASIS Gift Show.
POWER TO INTERPRET. This Agreement shall be interpreted and effectuated to comply with the applicable requirements of ERISA and the Code; and all such applicable requirements are hereby incorporated herein by reference. Any reference in this Agreement to the requirements of ERISA or any section or title thereof shall be construed with due regard to Sections 108, 109 and 110 of ERISA. Subject to the above, the Committee shall have power to construe and interpret this Agreement and to make determinations of fact under this Agreement, including but not limited to the power to construe and interpret all provisions of this Agreement and to make factual determinations relating to eligibility for benefits and the amount, manner, and time of payment of benefits, any such construction and interpretation or factual determination by the Committee and any action taken thereon in good faith by any Administrative Party to be final and conclusive upon any affected party. The Committee shall also have power to correct any defect, supply any omission, or reconcile any inconsistency in such manner and to such extent as the Committee shall deem proper to carry out and put into effect this Agreement; and any construction, interpretation or factual determination made or other action taken by the Committee pursuant to this Paragraph (C), if and when communicated in writing to any other Administrative Party or affected party, shall be binding upon such other party and may be relied upon by such other party.
POWER TO INTERPRET. The Corporation shall have full power and authority to interpret, construe, and administer this Agreement and the Corporation's reasonable interpretations and construction thereof, and actions thereunder, including any valuation of the Deferred Compensation Account, or the amount or recipient of the payments to be made therefrom, shall be binding and conclusive on all persons for all purposes. Neither the Corporation nor any director, officer, employee or agent of the Corporation shall be liable to any person for any action taken or omitted in connection with the interpretation and administration of this Agreement unless attributable to willful misconduct or lack of good faith.