Common use of Asset Value Clause in Contracts

Asset Value. Upon completion of due diligence, should ATOW determine the fair market value of an asset detailed in Exhibit A is less than the listed value, the parties agree to negotiate in good faith to establish a fair value. If the parties are unable to arrive at an agreement as to the value of any specific asset, ATOW reserves the right to exclude that asset from the assets being purchased and reduce the purchase price by an amount equal to the estimated fair market value listed on Exhibit A. In the event the total of such excluded assets equals or exceeds 10% of the total assets listed on Exhibit A, ATOW shall be exempt from having to honor any agreement to purchase the assets of Seller.

Appears in 3 contracts

Samples: Asset Purchase Agreement (1 800 Autotow Inc), Asset Purchase Agreement (1 800 Autotow Inc), Asset Purchase Agreement (1 800 Autotow Inc)

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Asset Value. Upon completion of due diligence, should ATOW determine the fair market value of an asset detailed in Exhibit A C is less than the listed value, the parties agree to negotiate in good faith to establish a fair value. If the parties are unable to arrive at an agreement as to the value of any specific asset, ATOW reserves the right to exclude that asset from the assets being purchased and reduce the purchase price by an amount equal to the estimated fair market value listed on Exhibit A. C. In the event the total of such excluded assets equals or exceeds 10% of the total assets listed on Exhibit AC, ATOW shall be exempt from having to honor any agreement to purchase the assets of SellerSELLER.

Appears in 1 contract

Samples: Asset Purchase Agreement (1 800 Autotow Inc)

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