Common use of Selection of and Procedures for Third Appraiser Clause in Contracts

Selection of and Procedures for Third Appraiser. If the Higher Value is more than 110% of the Lower Value, within seven days thereafter the First Appraiser and the Second Appraiser shall agree upon and jointly designate a third Appraiser (the "Third Appraiser"), by written notice to each Member. If the First Appraiser and the Second Appraiser cannot agree upon a Third Appraiser within seven days, the Third Appraiser shall be chosen by the American Arbitration Association ("AAA") in Boston, Massachusetts. The First Appraiser and the Second Appraiser shall direct the Third Appraiser to determine the Fair Market Value of the Selling Member's Interest (the "Third Value") in accordance with the provisions of subparagraph (ii) above, and to deliver to the Members an Appraiser's Certificate on or before the 30th day after the designation of such Appraiser hereunder. The Third Appraiser will be directed to comply with the provisions of this Section 3.3, and to that end each of the parties will provide to the Third Appraiser a complete and correct copy of this Section 3.3 (and the definitions of capitalized terms used in this Section 3.3 that are defined elsewhere in this Agreement).

Appears in 2 contracts

Samples: License Agreement (Nstar/Ma), Operating Agreement (RCN Corp /De/)

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Selection of and Procedures for Third Appraiser. If the Higher Value is more than 110% of the Lower Value, within seven days thereafter the First RCN-Sub Appraiser and the Second BecoCom Appraiser shall agree upon and jointly designate a third Appraiser (the "Third Appraiser"), by written notice to each Member. If the First RCN-Sub Appraiser and the Second BecoCom Appraiser cannot agree upon a Third Appraiser within seven days, the Third Appraiser shall be chosen by the American Arbitration Association ("AAA") in Boston, Massachusetts. The First RCN-Sub Appraiser and the Second BecoCom Appraiser shall direct the Third Appraiser to determine the Fair Market Value of the Selling Minority Member's Interest (the "Third Value") in accordance with the provisions of subparagraph (ii) above, and to deliver to the Members both RCN-Sub and BecoCom an Appraiser's Certificate on or before the 30th day after the designation of such Appraiser hereunder. The Third Appraiser will be directed to comply with the provisions of this Section 3.32, and to that end each of the parties will provide to the Third Appraiser a complete and correct copy of this Section 3.3 2 (and the definitions of capitalized terms used in this Section 3.3 2 that are defined elsewhere in this Agreement).

Appears in 2 contracts

Samples: License Agreement (Nstar/Ma), Management Agreement (RCN Corp /De/)

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Selection of and Procedures for Third Appraiser. If the Higher Value is more than 110% of the Lower Value, within seven days thereafter the First Appraiser and the Second Appraiser shall agree upon and jointly designate a third Appraiser (the "Third Appraiser"), by written notice to each participating Member. If the First Appraiser and the Second Appraiser cannot agree upon a Third Appraiser within seven days, the Third Appraiser shall be chosen by the American Arbitration Association ("AAA") in Boston, Massachusetts. The First Appraiser and the Second Appraiser shall direct the Third Appraiser to determine the Fair Market Value of the Selling Member's ’s Interest (the "Third Value") in accordance with the provisions of subparagraph (ii) above, and to deliver to the participating Members an Appraiser's ’s Certificate on or before the 30th day after the designation of such Appraiser hereunder. The Third Appraiser will be directed to comply with the provisions of this Section 3.3, and to that end each of the parties will provide to the Third Appraiser a complete and correct copy of this Section 3.3 (and the definitions of capitalized terms used in this Section 3.3 that are defined elsewhere in this Agreement).

Appears in 1 contract

Samples: Operating Agreement (RCN Corp /De/)

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