Statement of Objections Clause Samples
A Statement of Objections clause outlines the process by which one party formally notifies another of specific concerns, breaches, or issues regarding the agreement. Typically, this clause details the required format, timing, and method for delivering such objections, and may specify the information that must be included, such as the nature of the objection and supporting evidence. Its core function is to ensure that disputes or concerns are communicated clearly and promptly, providing a structured mechanism for addressing and resolving potential problems before they escalate.
Statement of Objections. If Sellers fail to deliver the Statement of Objections before the expiration of the Review Period, the Closing Working Capital Statement and the Post-Closing Adjustment, as the case may be, reflected in the Closing Working Capital Statement shall be deemed to have been accepted by Sellers. If Sellers deliver the Statement of Objections before the expiration of the Review Period, Buyer and Sellers shall negotiate in good faith to resolve such objections within thirty (30) days after the delivery of the Statement of Objections (the “Resolution Period”), and, if the same are so resolved within the Resolution Period, the Post-Closing Adjustment and the Closing Working Capital Statement with such changes as may have been previously agreed in writing by Buyer and Sellers, shall be final and binding.
Statement of Objections. Upon receipt of any such statement of objections, FOCAS shall either: (1) correct, or cause the applicable Qualified Contractor to correct, the objections or defects, whereupon ▇▇▇ shall re-inspect the same within fifteen (15) working days following receipt from FOCAS that the work has been corrected, and if found corrected, issue an Acceptance of Construction as stated above; or (2) dispute such statement of objections or defects by referring the disputed issues for determination to the Chief Engineers of FOCAS and ▇▇▇ (without thereby waiving any rights with respect to the issues in controversy). Notwithstanding the foregoing, acceptance of the construction and installation work associated with the Cable and the Cable Accessories for any System Segment by ▇▇▇ shall constitute ELI's approval solely with respect to ELI's telecommunications system and shall in no way be deemed to constitute an opinion of ▇▇▇ with respect to the effect of the telecommunications system on any Utility Company's electric transmission system.
Statement of Objections. Unless Seller provides written notice to Purchaser setting forth in reasonable detail its good faith objection to any portion of the Closing Date Balance Sheet relating to the calculation of the Closing Net Working Capital on the basis that such portion shall not have been prepared in accordance with GAAP consistent with the accounting principles and practices applied in preparation of the 2000 Audited Financial Statements and/or that the Closing Net Working Capital was not calculated in accordance with the methodologies set forth on SCHEDULE 1.3(b) of this Agreement (the "STATEMENT OF OBJECTIONS") prior to the close of business on the forty-fifth (45th) day following the receipt by Seller of the Closing Date Balance Sheet from Purchaser (the "OBJECTION PERIOD"), the Closing Date Balance Sheet (and the Closing Net Working Capital reflected in and calculated from such Closing Date Balance Sheet) shall thereafter be binding upon Seller and its Affiliates and Purchaser for purposes of the post-closing adjustments set forth in this SECTION 1.4. If Seller delivers to Purchaser a Statement of Objections before the expiration of the Objection Period, then those elements of the Closing Net Working Capital objected to in the Statement of Objections shall not thereafter be binding on Seller or its Affiliates until resolved in accordance with this SECTION 1.4.
Statement of Objections. Unless SunSource provides specific written notice to the Partnership setting forth a good faith objection to any portion of the Closing Date Balance Sheet relating to the calculation of either the Closing Net Working Capital or the Closing Net Tangible Asset Value on the basis that such portion shall not have been prepared in accordance with Section 2.3(a) of this Agreement (the "Statement of Objections"), prior to the close of business on the thirtieth (30th) day following the receipt by SunSource of the Closing Date Balance Sheet from the Partnership (the "Objection Period"), the Closing Date Balance Sheet (and the Closing Net Working Capital and the Closing Net Tangible Asset Value reflected thereon or calculated therefrom) shall thereafter be binding upon the SunSource Entities and the Partnership for purposes of the post-closing adjustments set forth in this Section 2.3. If SunSource delivers to the Partnership a Statement of Objections before the expiration of the Objection Period, then those aspects relating to the calculation of the Closing Net Working Capital or the Closing Net Tangible Asset Value objected to in the Statement of Objections shall not thereafter be binding until resolved in accordance with this Section 2.3.
Statement of Objections. Section 2.5(b) Statutory Statements................................................................................................................................Section 3.9(b) Survival Period.......................................................................................................................................Section 10.1(d) Tax Contest............................................................................................................................................Section 6.13(e) Third Party Claim....................................................................................................................................Section 10.3(a) Third Party Reinsurance Contracts.............................................................................................................Section 3.20 Transferred Employee..............................................................................................................................Section 6.3(b) Transition Plan............................................................................................................................................Section 6.17 Voting Debt...............................................................................................................................................Section 3.2(b)
Statement of Objections. Section 1.3(b)(ii)
Statement of Objections. The Seller may object to the Buyer’s determination of the Purchase Price as set forth in the Post-Closing Statement by delivery of a detailed written statement of objections (a “Statement of Objections”) (stating the basis of the objections with reasonable specificity and the Seller’s calculations of the objected amounts) to the Buyer within thirty (30) days following delivery to the Seller of such Post-Closing