Exercise of discretions Clause Samples
The 'Exercise of discretions' clause defines how a party may make decisions or judgments under the contract where discretion is granted. Typically, this clause requires that any discretion be exercised reasonably, in good faith, and not arbitrarily or capriciously. For example, if a contract allows one party to approve or reject a request, this clause would guide how that decision should be made. Its core function is to ensure fairness and prevent abuse of power by setting standards for how discretionary rights are used within the contractual relationship.
Exercise of discretions. Subject to clause 13.1(b), the Trustee may decide how and when to exercise the Trustee’s powers and discretions.
Exercise of discretions. The Servicer must, in servicing the Mortgage Loan Rights which then form part of the Assets of the Series Trust, exercise its power and discretions under this Deed, the Servicing Guidelines, and the relevant Mortgage Documents to which it is a party in accordance with standards and practices suitable for a prudent lender in the business of making retail home loans.
Exercise of discretions. 33.1 Any right conferred on us under the JBWere Agreement or an Additional Service Agreement may be exercised or not exercised in our absolute discretion.
33.2 We may waive your obligations or the exercise of our rights under the JBWere Agreement, an Additional Service Agreement, or any part of them, in our absolute discretion and such a waiver does not prevent us from exercising those rights in the future.
33.3 We will act reasonably and be guided by our legitimate business interests in deciding whether and how to exercise any discretion we have under the JBWere Agreement or an Additional Service Agreement.
Exercise of discretions. 33.1 Any right conferred on us under the JBWere Multi-Asset Platform Agreement or an Additional Service Agreement may be exercised or not exercised in our absolute discretion.
33.2 We may waive your obligations or the exercise of our rights under the JBWere Multi-Asset Platform Agreement, an Additional Service Agreement, or any part of them, in our absolute discretion and such a waiver does not prevent us from exercising those rights in the future.
33.3 We will act reasonably and be guided by our legitimate business interests in deciding whether and how to exercise any discretion we have under the JBWere Multi-Asset Platform Agreement or an Additional Service Agreement.
Exercise of discretions. 78 16.6 Servicer's Undertaking Regarding Mortgage Loan Rights...........78 16.7 Interest Rates on Mortgage Loans................................80 16.8 Release or Substitution of Security.............................80 16.9 Variation or Relaxation of Terms of Mortgage Loans..............80 16.10
Exercise of discretions. (a) Unless expressly required by the terms of this agreement, a party is not required to act reasonably in giving or withholding any consent or approval or exercising any other right, power, authority, discretion or remedy, under or in connection with this agreement.
(b) A party may (without any requirement to act reasonably) impose conditions on the grant by it of any consent or approval, or any waiver of any right, power, authority, discretion or remedy, under or in connection with this agreement. Any conditions must be complied with by the party relying on the consent, approval or waiver.
Exercise of discretions. (a) Unless expressly required by the terms of this agreement, a party is not required to act reasonably in giving or withholding any consent or approval or exercising any other right, power, authority, discretion or remedy, under or in connection with this agreement. (b) A party may (without any requirement to act reasonably) impose conditions on the grant by it of any consent or approval, or any waiver of any right, power, authority, discretion or remedy, under or in connection with this agreement. Any conditions must be complied with by the party relying on the consent, approval or waiver. Company Warranties The Company warrants that:
(a) (Registration) it is a corporation registered (or taken to be registered) and validly existing under the Corporations Act.
(b) (Incorporation) if it is a corporation, it is validly incorporated, organised and subsisting in accordance with the laws of its place of incorporation.
(c) (Power and capacity) it has full power and capacity to enter into and perform its obligations under this agreement.
(d) (Corporate authorisations) all necessary authorisations for the execution, delivery and performance by the Company of this agreement in accordance with its terms have been obtained or will be obtained prior to Tranche Completion.
(e) (No legal impediment) the execution, delivery and performance of this agreement: (1) complies with its constitution or other constituent documents (as applicable); and (2) does not constitute a breach of any law or obligation, or cause or result in a default under any agreement, or Encumbrance, by which it is bound and that would prevent it from entering into and performing its obligations under this agreement.
(f) (Solvency): (1) it has not gone, or proposed to go, into liquidation; (2) it has not passed a winding-up resolution or commenced steps for winding-up or dissolution; (3) it has not received a deregistration notice under section 601AB of the Corporations Act or applied for deregistration under section 601AA of the Corporations Act; (4) it has not been presented or threatened with a petition or other process for winding-up or dissolution and, so far as the Company is aware, there are no circumstances justifying a petition or other process; Subscription Agreement page 30 (5) no receiver, receiver and manager, judicial manager, liquidator, administrator, official manager has been appointed, or is threatened or expected to be appointed, over the whole or a substantial part of the undertaki...
Exercise of discretions. (a) Unless expressly required by the terms of this agreement or the ASX Settlement Operating Rules, a party is not required to act reasonably in giving or withholding any consent or approval or exercising any other right, power, authority, discretion or remedy, under or in connection with this agreement.
(b) Subject to the ASX Settlement Operating Rules, a party may (without any requirement to act reasonably) impose conditions on the grant by it of any consent or approval, or any waiver of any right, power, authority, discretion or remedy, under or in connection with this agreement. Any conditions must be complied with by the party relying on the consent, approval or waiver.
Exercise of discretions. 75 16.6 Servicer's Undertaking Regarding Mortgage Loan Rights.................................... 75 16.7
Exercise of discretions. The Commonwealth may exercise its powers, discretions and authorities in its sole and absolute discretion provided that it acts in good faith in exercising discretions, making decisions, approving or rejecting proposals and in all other dealings with the Grantee under this Agreement.