Common use of Determination of Remuneration Clause in Contracts

Determination of Remuneration. If no agreement on the amount of consideration for the Shares can be reached within 4 (four) weeks following receipt of the termination notice by the remaining shareholder(s), the fair market value of the shares shall be determined by a certified Austrian auditing and tax consultancy company or by a certified Austrian auditor and tax consultant mutually agreed upon by AboveNet and RRZ (hereinafter referred to as "the Arbitration Expert"). If AboveNet and RRZ cannot agree to an arbitration expert within 14 (fourteen) days, each shall select an expert and have the price evaluated. If the two evaluations are more than 20 (twenty) % apart, an Arbitration Expert shall be appointed upon application by one of the shareholders by the President of the Vienna Chamber of Certified Accountants. The arbitration opinion by this expert shall be binding upon the respective Parties. The costs for the Arbitration Expert shall be shared by the Parties, whereby AboveNet shall pay 50% and RRZ shall pay 50%.

Appears in 2 contracts

Samples: Shareholders Agreement (Metromedia Fiber Network Inc), Shareholders Agreement (Abovenet Communications Inc)

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Determination of Remuneration. If no agreement on the amount of consideration for the Shares can be reached within 4 14 (fourfourteen) weeks days following receipt of the termination notice by Effective Date, the remaining shareholder(s), price shall be the fair market value of the shares shall be as determined by a certified Austrian auditing and tax consultancy company or by a certified Austrian auditor and tax consultant mutually agreed upon by AboveNet and RRZ (hereinafter referred to as "the Arbitration Expert"). If AboveNet and RRZ cannot agree to an arbitration expert within 14 (fourteen) days, each shall select an expert and have the price evaluated. If the two evaluations are more than 20 (twenty) % apart, an Arbitration Expert shall be appointed upon application by one of the shareholders by the President of the Vienna Chamber of Certified Accountants. The arbitration opinion by this expert shall be binding upon the respective Parties. The costs for the Arbitration Expert shall be shared borne by the both Parties, whereby AboveNet shall pay 50% one half, and RRZ shall pay 50%the other half.

Appears in 2 contracts

Samples: Shareholders Agreement (Metromedia Fiber Network Inc), Shareholders Agreement (Abovenet Communications Inc)

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