Common use of Responsibility for Calculations Clause in Contracts

Responsibility for Calculations. The Owner assumes all responsibility for all calculations and figures relating to the determination of the eligible basis and qualified basis of the Project and agrees that the amount of Federal Tax Credit which has been or may be allocated to the Project is calculated by reference to the figures and information submitted by the Owner in its application, including figures as to the eligible basis and qualified basis of the Project.

Responsibility for Calculations. The Owner assumes all responsibility for all calculations and figures relating to the determination of the eligible basis and qualified basis of the Project and agrees that the amount of Federal Tax Credit which has been or may be allocated to the Project and the amount of Massachusetts low-income housing tax credit which has been or may be allocated to the Project is calculated by reference to the figures and information submitted by the Owner in its application, including figures as to the eligible basis and qualified basis of the Project.