Common use of Contest and Appraisal Rights Clause in Contracts

Contest and Appraisal Rights. Upon each determination of Market Price or Fair Market Value, as the case may be, hereunder, the Company shall promptly give notice thereof to the Warrantholder, setting forth in reasonable detail the calculation of such Market Price or Fair Market Value, and the method and basis of determination thereof, as the case may be. If the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders) shall disagree with such determination and shall, by notice to the Company given within 15 days after the Company’s notice of such determination, elect to dispute such determination, such dispute shall be resolved in accordance with this Section 15. In the event that a determination of Market Price, or Fair Market Value (if such determination solely involves Market Price), is disputed, such dispute shall be submitted, at the Company’s expense, to a NASDAQ member firm selected by the Company and acceptable to the Warrantholder, whose determination of Market Price or Fair Market Value, as the case may be, shall be binding on the Company and the Warrantholder. In the event that a determination of Fair Market Value, other than a determination solely involving Market Price, is disputed, such dispute shall be resolved through the Appraisal Procedure.

Appears in 5 contracts

Samples: Registration Rights Agreement (First Mariner Bancorp), Investment Agreement (Sterling Financial Corp /Wa/), Investment Agreement (Sterling Financial Corp /Wa/)

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Contest and Appraisal Rights. Upon each determination of Market Price or Fair Market Value, as Value hereunder (other than a determination relating solely to setting the case may be, hereundervalue of fractional shares), the Company shall promptly give notice thereof to the Warrantholderall Warrantholders, setting forth in reasonable detail the calculation of such Market Price or Fair Market Value, Value and the method and basis of determination thereof, as the case may be. If the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders) Holders shall disagree with such determination and shall, by notice to the Company given within 15 30 days after the Company’s notice of such determination, elect to dispute such determination, such dispute shall be resolved in accordance with this Section 153.2. In the event that a determination of Market Price, or a determination of Fair Market Value (if such determination solely involves involving Market Price), is disputed, such dispute shall be submitted, at the Company’s expense, to a NASDAQ New York Stock Exchange member firm selected by the Company and acceptable to the WarrantholderWarrantholders, whose determination of Market Price or Fair Market ValueValue and/or Market Price, as the case may be, shall be binding on the Company and the WarrantholderWarrantholders. In the event that a determination of Fair Market Value, other than a determination solely involving Market Price, is disputed, such dispute shall be resolved through the Appraisal Procedure.

Appears in 4 contracts

Samples: Registration Rights Agreement (Freedom Financial Group Inc), Registration Rights Agreement (Freedom Financial Group Inc), Registration Rights Agreement (Freedom Financial Group Inc)

Contest and Appraisal Rights. Upon each determination of Market Price or Fair Market Value, as the case may be, hereunder, the Company shall promptly give notice thereof to the Warrantholder, setting forth in reasonable detail the calculation of such Market Price or Fair Market Value, and the method and basis of determination thereof, as the case may be. If the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders) shall disagree with such determination and shalland, by notice to the Company given within 15 fifteen (15) days after the Company’s notice of such determination, elect to dispute such determination, such dispute shall be resolved in accordance with this Section 1514. In the event that a determination of Market Price, or Fair Market Value (if such determination solely involves Market Price), is disputed, such dispute shall be submitted, at the Company’s expense, to a NASDAQ member firm qualified third party selected by the Company and reasonably acceptable to the Warrantholder, whose determination of Market Price or Fair Market Value, as the case may be, shall be binding on the Company and the Warrantholder. In the event that a determination of Fair Market Value, other than a determination solely involving Market Price, is disputed, such dispute shall be resolved through the Appraisal Procedure.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Intermountain Community Bancorp), Securities Purchase Agreement (Intermountain Community Bancorp)

Contest and Appraisal Rights. Upon each determination of Market Price or Fair Market Valuefair market value, as the case may be, hereunder, the Company shall promptly give notice thereof to the Warrantholder, setting forth in reasonable detail the calculation of such Market Price or Fair Market Valuefair market value, and the method and basis of determination thereof, as the case may be. If the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders) shall disagree with such determination and shall, by notice to the Company given within 15 fifteen (15) days after the Company’s notice of such determination, elect to dispute such determination, such dispute shall be resolved in accordance with this Section 15. In the event that a determination of Market Price, or Fair Market Value fair market value (if such determination solely involves Market Price), is disputed, such dispute shall be submitted, at the Company’s expense, to a NASDAQ New York Stock Exchange member firm selected by the Company and acceptable to the Warrantholder, whose determination of Market Price or Fair Market Valuefair market value, as the case may be, shall be binding on the Company and the Warrantholder. In the event that a determination of Fair Market Valuefair market value, other than a determination solely involving Market Price, is disputed, such dispute shall be resolved through the Appraisal Procedure.

Appears in 2 contracts

Samples: Investment Agreement (Mbia Inc), Investment Agreement (Mbia Inc)

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Contest and Appraisal Rights. Upon each determination of Market Price or Fair Market Value, as the case may be, hereunder, the Company shall promptly give notice thereof to the Warrantholder, setting forth in reasonable detail the calculation of such Market Price or Fair Market Value, and the method and basis of determination thereof, as the case may be. If the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders) shall disagree with such determination and shall, by notice to the Company given within 15 fifteen (15) days after the Company’s notice of such determination, elect to dispute such determination, such dispute shall be resolved in accordance with this Section 15. In the event that a determination of Market Price, or Fair Market Value (if such determination solely involves Market Price), is disputed, such dispute shall be submitted, at the Company’s expense, to a NASDAQ New York Stock Exchange member firm selected by the Company and reasonably acceptable to the Warrantholder, whose determination of Market Price or Fair Market Value, as the case may be, shall be binding on the Company and the Warrantholder. In the event that a determination of Fair Market Value, other than a determination solely involving Market Price, is disputed, such dispute shall be resolved through the Appraisal Procedure.

Appears in 1 contract

Samples: Funding Agreement (Hilltop Holdings Inc.)

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