Calculation of Required Funding Amount Clause Samples

The "Calculation of Required Funding Amount" clause defines how the necessary amount of funds for a particular purpose or project is determined under the agreement. Typically, this clause outlines the methodology, timing, and responsible parties for calculating the funding needed, such as referencing budgets, cost estimates, or specific financial metrics. Its core practical function is to ensure transparency and consistency in determining funding obligations, thereby preventing disputes and ensuring that adequate resources are allocated as required.
Calculation of Required Funding Amount. As soon as practicable, but in no event later than fifteen (15) days following the occurrence of any Potential Change in Control, the Treasurer of the Company shall compute the Required Funding Amount. Immediately thereafter, the Recordkeeper shall review the Treasurer’s calculations of the Required Funding Amount (including without limitation the calculations under Section 5.5 hereof). The Recordkeeper shall complete its review prior to the thirtieth (30th) day following any Potential Change in Control. If the Recordkeeper concludes that the amounts calculated by the Treasurer are not sufficient to permit the Trustee to make all payments due or to become due under the Plans, together with the fees and expenses described in Sections 6.2 and 6.3 below, the Treasurer shall increase the Required Funding Amount to the amount so calculated by the Recordkeeper. The Company agrees not to challenge the calculations of the Treasurer, and both the Company and the Treasurer agree not to challenge the calculations of the Recordkeeper, and the Trustee shall have no right or obligation to challenge or question such calculation with regard to the Required Funding Amount (including, without limitation, the amount determined under Section 5.5 hereof) upon and after a Potential Change in Control or Change in Control. No Plan Participant shall have the right to challenge the calculations of either the Treasurer or the Recordkeeper with respect to the Required Funding Amount.
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