Calculations; Adjustments Clause Samples
The "Calculations; Adjustments" clause defines how financial or quantitative figures are determined and modified under the agreement. It typically outlines the methods, formulas, or standards to be used for calculations, and specifies the circumstances under which adjustments may be made, such as changes in market conditions, regulatory requirements, or errors in initial calculations. This clause ensures that both parties have a clear, agreed-upon process for determining and updating key figures, thereby reducing disputes and maintaining fairness throughout the contract's term.
Calculations; Adjustments. The Committee shall have the full and plenary authority to interpret this Award Agreement, and to calculate the achievement of the performance metrics described herein. The Committee’s determinations with respect to any such interpretations or calculations shall be final and binding upon the Participant. The Committee shall have the authority to make appropriate adjustments to the definitions of Hotel NOI, Debt-Preferred-TEV Ratio, and Annualized TSR, or the calculation of any of the foregoing, to the extent that the Committee deems necessary.
Calculations; Adjustments. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding. To the extent the application of any provision in this Section 3 would result in a deviation from, or a result inconsistent with, the intent of the parties hereto, as reflected herein, the Company and the Holder shall cooperate in good faith to make appropriate and equitable adjustments thereto to effectuate the intent of the parties hereto.
Calculations; Adjustments. The Committee shall have the full and plenary authority to interpret this Award Agreement, and to calculate the achievement of the performance metrics described herein. The Committee’s determinations with respect to any such interpretations or calculations shall be final and binding upon the Participant. The Committee shall have the authority to make appropriate adjustments to the definitions of Median Annual Adjusted EBITDAre Growth Multiplier, Ending Net Debt/Gross Investment Property Ratio Multiplier, and Annualized TSR, or the calculation of any of the foregoing, to the extent that the Committee deems necessary.