Valuation of Contribution. Where a Party makes a contribution not in the form of cash, such contribution may be valuated and assessed by the relevant authority pursuant to the practice of PRC. Where a Party disputes the value of the contribution by another Party assessed hereunder, the Party shall be allowed to apply for re-assessment pursuant to the practice of PRC or as agreed by the Parties. Where a Party disputes the result of the re- assessment, the dispute shall be referred to the arbitration procedure provided for herein. The decision of arbitration shall be final and binding on the Parties.
Appears in 3 contracts
Samples: Equity Joint Venture Agreement (Integrated Carbonics Corp), Equity Joint Venture Agreement (Integrated Carbonics Corp), Equity Joint Venture Agreement (Integrated Carbonics Corp)
Valuation of Contribution. Where a Party makes a contribution not in the form of cash, such contribution may be valuated and assessed by the relevant authority pursuant to the practice of PRC. Where a Party disputes the value of the contribution by another Party assessed hereunder, the Party shall be allowed to apply for re-assessment pursuant to the practice of PRC or as agreed by the Parties. Where a Party disputes the result of the re- assessment, the dispute shall be referred to the arbitration procedure provided for herein. The decision of arbitration shall be final and binding on the Parties. 25.
Appears in 2 contracts
Samples: Agreement (Integrated Carbonics Corp), Equity Joint Venture Agreement (Integrated Carbonics Corp)
