Common use of Determination of FMV of Non-Cash Consideration Clause in Contracts

Determination of FMV of Non-Cash Consideration. If any part of the consideration to acquire the Leased Property as described in the Third Party Asset Offer is not in cash, then before the end of the ROFR Asset Election Period, Tenant may also elect to have the Fair Market Value of such non-cash consideration (the “Non-Cash Consideration”) determined pursuant to this subsection (g). Landlord and Tenant shall negotiate in good faith to reach an agreement as to the Fair Market Value of the Non-Cash Consideration as of the date of the ROFR Asset Offer (the “Non-Cash Consideration Value”). If Landlord and Tenant do not agree within ten (10) Business Days following the end of the ROFR Asset Election Period as to the deemed Non-Cash Consideration Value, then each of Landlord and Tenant shall submit to the other a notice within fifteen (15) Business Days following the end of the ROFR Asset Election Period, (A) its good faith estimate of the Non-Cash Consideration Value (collectively referred to as the “FMV Estimates”), and (B) the name of the Independent Appraiser appointed by it to determine which of the two (2) FMV Estimates most closely reflects the Fair Market Value of the Non-Cash Consideration, and Fair Market Value shall be determined as follows:

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Energy XXI LTD), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.), Connection and Access Agreement (CorEnergy Infrastructure Trust, Inc.)

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Determination of FMV of Non-Cash Consideration. If any part of the consideration to acquire the Leased Property as described in the Third Party Asset Offer is not in cash, then before the end of the ROFR Asset Election Period, Tenant may also elect to have the Fair Market Value of such non-cash consideration (the Non-Cash ConsiderationConsideration ”) determined pursuant to this subsection (g)) . Landlord and Tenant shall negotiate in good faith to reach an agreement as to the Fair Market Value of the Non-Cash Consideration as of the date of the ROFR Asset Offer (the Non-Cash Consideration ValueValue ”). If Landlord and Tenant do not agree within ten (10) Business Days following the end of the ROFR Asset Election Period as to the deemed Non-Cash Consideration Value, then each of Landlord and Tenant shall submit to the other a notice within fifteen (15) Business Days following the end of the ROFR Asset Election Period, (A) its good faith estimate of the Non-Cash Consideration Value (collectively referred to as the FMV EstimatesEstimates ”), and (B) the name of the Independent Appraiser appointed by it to determine which of the two (2) FMV Estimates most closely reflects the Fair Market Value of the Non-Cash Consideration, and Fair Market Value shall be determined as follows:

Appears in 1 contract

Samples: Connection and Access Agreement (Energy XXI LTD)

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