Procedure to agree Adjustment Amount following Completion Sample Clauses

Procedure to agree Adjustment Amount following Completion. (a) If agreed between the parties, within 30 days after the end of the month in which Completion occurs, the Vendor will prepare the final Cash Adjustment Statement and submit it to the Purchaser, made up to the Completion Date. The Vendor will provide supporting documentation reasonably adequate to justify all of the figures. (b) Within 15 Business Days of the date on which the Purchaser receives the Cash Adjustment Statement (or such shorter time as the parties agree), the Purchaser agrees to advise the Vendor in writing of any amounts to which it does not agree, including its reasons. (c) The Vendor and the Purchaser will in good faith seek to reach agreement without delay on any amounts not agreed to between them. (d) If no notice is given by the Purchaser under paragraph (b), then the Cash Adjustment Statement will be considered final for the purposes of determining the Adjustment Amount. (e) If a notice is given under paragraph (b) and the Vendor and Purchaser do not resolve the matter within 10 Business Days following receipt of the notice, then that amount of the Adjustment Amount not disputed under paragraph (b) shall comprise the Adjustment Amount. (f) If the parties are unable to resolve the dispute within 15 Business Days, the parties shall refer such dispute to a certified public accountant to be selected by the Vendor and the Purchaser, or failing which to be appointed by the American Institute of Certified Public Accountants (AICPA). The decision of such chartered accountant as to the Adjustment Amount shall be final and binding on the Vendor and the Purchaser, and the Adjusted Amount thereon shall be paid or repaid by Purchaser or the Vendor (as the case may be) within 5 Business Days of such decision by the chartered accountant. (g) Subject to paragraph (f), the Adjustment Amount shall be settled between the parties within 20 Business Days of the date on which the Purchaser receives the Cash Adjustment Statement. (h) Where the Vendor Account exceeds the Purchaser Account, the Adjustment Amount shall be payable by the Vendor to the Purchaser. (i) Where the Purchaser Account exceeds the Vendor Account, the Adjustment Amount shall be payable by the Purchaser to the Vendor.
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