Power to Construe the Plan Sample Clauses

Power to Construe the Plan. (a) The Trustees shall have the exclusive power to determine the eligibility requirements and conditions for participation in the Plan and the benefits to be provided thereunder, including the right to change the same from time to time. (b) The Trustees shall have all the powers, authority, and discretion necessary to operate, administer, and manage the Plan in accordance with its terms, including, but not limited to, the following: (1) to make and enforce such standards, rules, and regulations as they deem necessary or desirable for the efficient administration of the Plan; (2) to interpret the Plan, including the right to remedy possible ambiguities, inconsistencies or omissions; (3) to decide all questions, including factual and legal questions, related to participation in the Plan and eligibility for and payment of benefits thereunder; (4) to prescribe procedures for filing an application for benefits and to review applications for review of denial thereof; (5) to authorize the payment of benefits; and (6) to maintain all necessary records for the administration of the Plan. (c) The exercise of said powers by the Trustees shall be binding upon all persons.
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Related to Power to Construe the Plan

  • Governing Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

  • Laws Applicable to Construction The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware as applied to contracts executed in and performed wholly within the State of Delaware, without reference to principles of conflict of laws.

  • Governing Law; Severability; Rules of Construction This Security Instrument is governed by federal law and the law of the State of Tennessee. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. If any provision of this Security Instrument or the Note conflicts with Applicable Law (i) such conflict will not affect other provisions of this Security Instrument or the Note that can be given effect without the conflicting provision, and (ii) such conflicting provision, to the extent possible, will be considered modified to comply with Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence should not be construed as a prohibition against agreement by contract. Any action required under this Security Instrument to be made in accordance with Applicable Law is to be made in accordance with the Applicable Law in effect at the time the action is undertaken. As used in this Security Instrument: (a) words in the singular will mean and include the plural and vice versa; (b) the word “may” gives sole discretion without any obligation to take any action; (c) any reference to “Section” in this document refers to Sections contained in this Security Instrument unless otherwise noted; and (d) the headings and captions are inserted for convenience of reference and do not define, limit, or describe the scope or intent of this Security Instrument or any particular Section, paragraph, or provision.

  • Laws Applicable to Construction; Consent to Jurisdiction The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware without reference to principles of conflict of laws, as applied to contracts executed in and performed wholly within the State of Delaware. In addition to the terms and conditions set forth in this Agreement, the Restricted Stock Units are subject to the terms and conditions of the Plan, which is hereby incorporated by reference.

  • No Strict Construction The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.