APPRAISER APPROVAL Sample Clauses

APPRAISER APPROVAL. The Application states that the Sundale Systems lie in Tazewell County and serve a total of approximately 1,410 sewer customers and 550 water customers. It indicates that, under the terms of the Asset Purchase Agreement and subject to approval of the Commission, IAWC would acquire substantially all of the assets of the Sundale water system for a purchase of One Million Five Hundred Thousand Dollars ($1,500,000), and substantially all of the assets of the Sundale wastewater system for a purchase of Five Hundred Thousand Dollars ($500,000), pursuant to Section 9-210.5 of the Act. IAWC is a large public utility and the Sundale Systems are within the smaller range as provided in Section 9-210.5(a). Section 9-210.5(c) provides that the fair market value of the water or sewer utility being acquired is determined by averaging three appraisals. The appraisers are to be selected by the Commission's water department manager. The appraisers may not have an interest in the matter and must comply with the standards set forth in Subsection 9-210.5(c)(1)-(5). The appraisers may be engaged by either the buyer or the seller of the water or sewer system. Section 9-210.5 of the Act provides that the terms of the engagement must be reasonable and must be approved by the Commission. In his Affidavit, Xx. Xxxxxx recounts that, on April 21, 2017, he received an e-mail from IAWC identifying three appraisers – Xxxxxxx, Inc. ("Volkert"), Xxxxxxx Appraisal Consultants, LLC ("Xxxxxxx"), and Xxxxxx X. Xxxxx & Associates, Inc. ("Xxxxx") – with whom IAWC proposed to contract to determine the fair market value of the Sundale Systems. IAWC provided copies of the engagement agreements ("Engagement Agreements") into which IAWC proposed to enter with those three appraisers. . In a letter from Xxxx Xxxxxxxxxx, Director of the Safety and Reliability Division to IAWC, dated April 24, 2017, Xx. Xxxxxxxxxx indicates that to the best of his belief each of the appraisers, Volkert, Xxxxxxx, and Xxxxx, are disinterested and are licensed as a State certified general real estate appraiser and therefore meet the requirements of Section 9-210.5(c) of the Act. He indicates that he approves the three appraisers and directs that the appraisers comply with each of the requirements of Subsection 9-210.5(c)(1)-(5). Xx. Xxxxxx asserts that he reviewed the Engagement Agreements and concluded that they are reasonable, and they meet the requirements of Section 9-210.5(c) of the Act. He includes copies of the IAWC ...
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Related to APPRAISER APPROVAL

  • FAA APPROVAL This Agreement may be subject to approval of the FAA. If the FAA disapproves this Agreement, it will become null and void, and both Parties will bear their own expenses relative to this Agreement, up to the date of disapproval.

  • Prior Approval Required Consultant shall not subcontract any portion of the work required by this Agreement, except as expressly stated herein, without prior written approval of LAFCO. Subcontracts, if any, shall contain a provision making them subject to all provisions stipulated in this Agreement.

  • Approval/Non-Approval We will notify you whether your Application has been approved or denied within 14 days after the date we receive a completed Application. Notification may be in person or by mail or telephone unless you have requested that notification be by mail. You must not assume approval until you receive actual notice of approval. The 14-day time period may be changed only by separate written agreement.

  • Seller’s Approval Buyer must obtain Seller’s approval, in writing, to any change to the letter described in Section IV(c) regarding the financial institution, type of financing, or allocation of closing costs; and

  • Final Approval After Acceptance, Engineer shall perform any required modifications, changes, alterations, corrections, redesigns, and additional work necessary to receive Final Approval by the County. "Final Approval" in this sense shall mean formal recognition that the Engineering Services have been fully carried out.

  • Prior Approval The Engineer shall not assign, subcontract or transfer any portion of professional services related to the work under this contract without prior written approval from the State.

  • REQUIRED APPROVAL Any indemnification under this Article shall be made by the Trust if authorized in the specific case on a determination that indemnification of the Agent is proper in the circumstances by (i) a final decision on the merits by a court or other body before whom the proceeding was brought that the Agent was not liable by reason of Disqualifying Conduct (including, but not limited to, dismissal of either a court action or an administrative proceeding against the Agent for insufficiency of evidence of any Disqualifying Conduct) or, (ii) in the absence of such a decision, a reasonable determination, based upon a review of the facts, that the Agent was not liable by reason of Disqualifying Conduct, by (1) the vote of a majority of a quorum of the Trustees who are not (x) “interested persons” of the Trust as defined in Section 2(a)(19) of the 1940 Act, (y) parties to the proceeding, or (z) parties who have any economic or other interest in connection with such specific case (the “disinterested, non-party Trustees”); or (2) by independent legal counsel in a written opinion.

  • Approval Required This Agreement may not be amended without written consent of all of the Partners.

  • Board Approval No reimbursement shall be paid to the Investment Adviser pursuant to this provision in any fiscal year, unless the Trust's Board of Trustees has determined that the payment of such reimbursement is appropriate in light of the terms of this Agreement. The Trust's Board of Trustees shall determine quarterly in advance whether any portion of the Reimbursement Amount may be paid to the Investment Adviser in such quarter.

  • Union Approval Where the grievance relates to the interpretation or application of this Collective Agreement, the employee is not entitled to present the grievance unless she has the approval in writing of the Union or is represented by the Union.

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