Selection to be binding Clause Samples
The 'Selection to be binding' clause establishes that once a choice or selection is made under the agreement—such as the appointment of an arbitrator, the selection of a service provider, or the designation of a method for resolving disputes—that decision is final and enforceable on all parties. In practice, this means that after a party or a group makes a selection as permitted by the contract, neither side can later challenge or alter that choice without mutual consent. This clause ensures certainty and efficiency by preventing disputes over selections and streamlining the implementation of agreed-upon processes.
Selection to be binding. The decision of the Lenders’ Representative and the Authority in selection of the Nominated Company shall be final and binding on the Concessionaire. The Concessionaire irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Senior Lenders or the Authority taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. The Concessionaire agrees and confirms that it shall not have any right to seek revaluation of assets of the Project or the Concessionaire’s shares. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Authority and the Concessionaire shall have no right or remedy to prevent, obstruct or restrain the Authority or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative.
Selection to be binding. The decision of the Senior Lenders/Senior Lenders’ Representative and the ConcessioningAuthority in selection of the Nominated Company shall be final and binding on the Concessionaire. The Concessionaire irrevocably agrees and waives any right to challenge theactions of the Senior Lenders’ Representative or the Senior Lenders or the Concessioning Authority taken pursuant to this Agreement including the transfer/novation of the Concession Agreement in favour of the Selectee. The Concessionaire agrees andconfirms that it shall not have any right to seek revaluation of assets comprised in the Project orthe Concessionaire’s shares. It is hereby acknowledged by the Parties that the rights of the Senior Lenders/Senior Lenders’ Representative are irrevocable and shall not be contested inany proceedings before any court or Concessioning Authority and the Concessionaire shallhave no right or remedy to prevent, obstruct or restrain the Concessioning Authority or the Senior Lenders/Senior Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Senior Lenders/SeniorLenders’ Representative.
Selection to be binding. 3.4.1 The decision of the Lenders’ Representative and the *****in selection of the NSL shall be final and binding on the Developer and shall be deemed to have been made with the concurrence of the Developer. The Developer irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the ****taken pursuant to this Agreement including the transfer, assignment and/or novation of the Grant (and the Concession Agreement) in favour of the NSL. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and the Developer shall have no right or remedy to prevent, obstruct or restrain the ***** or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Grant as requested by the Lenders’ Representative.
3.4.2 All actions of the Lenders’ Representative hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.
Selection to be binding. 3.5.1 The decision of the Lenders’ Representative and the Railway Administration in selection of the Nominated Company shall be final and binding on the Concessionaire and shall be deemed to have been made with the concurrence of the Concessionaire.. The Concessionaire irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the Railway Administration taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Railway Administration and the Concessionaire shall have no right or remedy to prevent, obstruct or restrain the Railway Administration or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative.
3.5.2 All actions of the Lenders’ Representative hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.
Selection to be binding. 3.6.1 The decision of RLDA in selection of the Nominated Company or the approval of the Nominated Company selected by the Lenders’ Representative shall be final and binding on the Lessee and shall be deemed to have been made with the concurrence of the Lessee. The Lessee irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or RLDA taken pursuant to the Substitution Agreement including the transfer/assignment of the Grant in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of RLDA and the Lenders’ Representative are irrevocable and the Lessee shall have no right or remedy to prevent, obstruct or restrain RLDA or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Grant as requested by the Lenders’ Representative or as undertaken by RLDA. No consultation, concurrence or approval with or of the Lessee will be required for such substitution.
3.6.2 All actions of the Lenders’ Representative and/or RLDA hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.
Selection to be binding. The decision of the Lenders’ Representative and the Authority in selection of the Nominated Company shall be final and binding on the Lessee. The Lessee irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Senior Lenders or the Authority taken pursuant to this Agreement including the transfer/assignment of the Lease Rights in favour of the Nominated Company. The Lessee agrees and confirms that it shall not have any right to seek revaluation of assets of the Project. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Authority and the Lessee shall have no right or remedy to prevent, obstruct or restrain the Authority or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Lease Rights as requested by the Lenders’ Representative.
Selection to be binding. The decision of the Lenders’ Representative and the Railway Administration in selection of the Nominated Company shall be final and binding on the Concessionaire and shall be deemed to have been made with the concurrence of the Concessionaire.. The Concessionaire irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the Railway Administration taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Railway Administration and the Concessionaire shall have no right or remedy to prevent, obstruct or restrain the Railway Administration or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative.
Selection to be binding. 3.5.1 The decision of the Lenders’ Representative and BSHB in selection of the Nominated Company shall be final and binding on the Developer and shall be deemed to have been made with the concurrence of the Developer. The Developer irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or BSHB taken pursuant to this Agreement including the transfer/assignment of the Grant in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and the Developer shall have no right or remedy to prevent, obstruct or restrain BSHB or the Lenders’ Representative from effecting or causing the transfer by Substitution and endorsement of the Grant as requested by the Lenders’ Representative.
3.5.2 All actions of the Lenders’ Representative hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.
Selection to be binding. The decision of the Lenders’ Representative and the Railway Administration in selection of the Nominated Company shall be final and binding on the Concessionaire and shall be deemed to have been made with the concurrence of the Concessionaire.. The Concessionaire irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the Railway Administration taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Railway Administration and the Concessionaire shall have no right or remedy to prevent, obstruct or restrain the Railway Administration or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative.