Responsibility for Calculations Clause Samples
The "Responsibility for Calculations" clause assigns the duty of performing and verifying numerical computations or financial calculations to a specific party under the agreement. This may include tasks such as determining payment amounts, interest accruals, or other quantitative obligations, and often requires the responsible party to provide supporting documentation or calculations upon request. By clearly designating who is accountable for these calculations, the clause helps prevent disputes over numbers and ensures accuracy and transparency in the execution of the contract.
Responsibility for Calculations. All calculations of (i) the Company’s Return on Invested Capital and Relative Total Shareholder Return and (ii) the Earned Percentages of the ROIC Units and the RTSR Units shall be determined by the Committee in the exercise of its sole discretion, and any such calculations shall be final.
Responsibility for Calculations. All calculations required to be made under Section 3.3.1(b), Section 3.3.1(c), Section 3.3.1(d), Section 3.3.5 and Section 6 will be the responsibility of the Company and confirmed by written notice to the Warrant Agent (or Co-Agent, if applicable) of which can be relied upon for all purposes.
(o) Section 7.2 of the Warrant Agreement is hereby amended by deleting such Section and replacing it entirely as follows:
Responsibility for Calculations. The calculation of mega watt mile allocations in accordance with this methodology shall be performed under the direction of the PTO Administrative Committee (or such subcommittee as the PTO Administrative Committee shall designate for such purpose).
Responsibility for Calculations. The calculation of megawatt mile allocations in accordance with this methodology shall be performed under the direction of the Reliability Committee.
Responsibility for Calculations. The calculation of megawatt mile allocations in accordance with this methodology shall be performed under the direction of the Regional Transmission Planning Committee ("RTPC").
Responsibility for Calculations. The Owner assumes all responsibility for all calculations and figures relating to the determination of the eligible basis and qualified basis of the Project and agrees that the amount of Federal Tax Credit which has been or may be allocated to the Project is calculated by reference to the figures and information submitted by the Owner in its application, including figures as to the eligible basis and qualified basis of the Project.
Responsibility for Calculations. Except to the extent otherwise set forth in this Indenture, the Company or its agents will be responsible for making all calculations called for under the Debentures and this Indenture. These calculations include, but are not limited to, determination of the Closing Price of the Common Stock, accrued interest payable on the Debentures and the Conversion Rate applicable to the Debentures on any Trading Day. The Company and its agents will make all such calculations in good faith and, absent manifest error, the calculations of the Company and its agents will be final and binding on Debenturesholders. The Company and its agents will provide a schedule of these calculations to the Trustee and the Conversion Agent (if other than the Trustee) as requested or required hereunder, and the Trustee and the Conversion Agent are entitled to conclusively rely upon the accuracy of these calculations without independent verification, and neither the Trustee nor the Conversion Agent will have any responsibility for making any such calculation. The Trustee and/or the Conversion Agent will forward (at the Company’s expense) the Company’s calculations to any Debentureholder upon request of such Debentureholder.