Initial Selected Liabilities Statement and Post-Closing Cash. Facet shall provide PDL in writing with its estimate for the amount of the Selected Liabilities within fifteen (15) business days after the Effective Time (the “Selected Liabilities Statement”). PDL shall have ten (10) business days following the receipt of the Selected Liabilities Statement to review and analyze Facet’s calculation of the amount set forth in the Selected Liabilities Statement (the “Post-Closing Cash”) and PDL shall then pay to Facet any undisputed part of the Post-Closing Cash. If PDL does not agree with Facet’s calculation of the Post-Closing Cash, the parties shall work in good faith to resolve the disagreement. After resolution of such disagreement, any payments owing either to Facet as a result of such adjustment shall be made within five (5) business days after the agreement of the parties.
Appears in 4 contracts
Samples: Separation and Distribution Agreement (Facet Biotech Corp), Separation and Distribution Agreement (PDL Biopharma, Inc.), Separation and Distribution Agreement (Facet Biotech Corp)
