Common use of Powers of the Administrator Clause in Contracts

Powers of the Administrator. Subject to the provisions of the Agreement, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: (i) to determine the Fair Market Value; (ii) to construe and interpret the terms of the Option and the Agreement; (iii) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of the Option; and (iv) to make all other determinations deemed necessary or advisable for administering the Option and the Agreement.

Powers of the Administrator. Subject to the provisions of the Agreement, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: (i) to determine the Fair Market Value; (ii) to construe and interpret the terms of the Option and the Agreement;; INDUCEMENT OPTION AGREEMENT (iii) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of the Option; and (iv) to make all other determinations deemed necessary or advisable for administering the Option and the Agreement.