Determination of Amount of Reduction Clause Samples

The "Determination of Amount of Reduction" clause defines the method and criteria for calculating how much a particular value, such as payment, liability, or obligation, should be decreased under specified circumstances. Typically, this clause outlines the factors or events that trigger a reduction, the formula or process for determining the new amount, and any limitations or minimum thresholds that apply. For example, it may apply to reducing contract payments if certain milestones are not met or if a party receives compensation from another source. The core function of this clause is to provide a clear and agreed-upon mechanism for adjusting amounts, thereby preventing disputes and ensuring fairness when reductions are warranted.
Determination of Amount of Reduction. (if any). The determination of whether the Payments shall be reduced as provided in Section 7.1 and the amount of such reduction shall be made at the Company’s expense by an accounting firm selected by the Company from among the four (4) largest accounting firms in the United States (the “Accounting Firm”). The Accounting Firm shall provide its determination (the “Determination”), together with detailed supporting calculations and documentation, to the Company and the Executive within ten (10) days after the Executive’s final day of employment. If the Accounting Firm determines that no Excise Tax is payable by the Executive with respect to the Payments, it shall furnish the Executive with an opinion reasonably acceptable to the Executive that no Excise Tax will be imposed with respect to any such payments and, absent manifest error, such Determination shall be binding, final and conclusive upon the Company and the Executive.
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Determination of Amount of Reduction. The determination of whether the Payments shall be reduced as provided in Section 7.1 and the amount of such reduction shall be made at the Company’s expense by an accounting firm selected by the Company from among the four (4) largest accounting firms in the United States (the
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Related to Determination of Amount of Reduction

  • Determination of Net Asset Value The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of regular trading on the New York Stock Exchange on each day for all or part of which such Exchange is open for unrestricted trading.