Definitions Interpretation and Accounting Terms Sample Clauses

The "Definitions, Interpretation and Accounting Terms" clause establishes the specific meanings of key terms and sets out rules for interpreting the contract, including how accounting-related language should be understood. It typically lists defined terms used throughout the agreement, clarifies how references to laws, documents, or time periods should be read, and specifies which accounting standards apply to financial calculations. By providing clear definitions and interpretive guidelines, this clause ensures consistency and reduces ambiguity, helping all parties understand their rights and obligations under the contract.