Examples of Contest Notice in a sentence
If a Contest Notice is timely delivered, then Indemnitor and the Indemnitee shall attempt to resolve the dispute; provided that if the dispute if not resolved within thirty (30) days, either party may submit the dispute to a court of competent jurisdiction.
The Contest Notice shall include a statement of the grounds of such contest in reasonable detail and shall state the amount of the Claim Amount that the Stockholders’ Representative does not dispute.
The undisputed portion of the Claim Amount, if any, stated in such Contest Notice shall be available for immediate release to the Buyer from the Escrow Amount (as directed pursuant to the Claim Notice), and the Buyer and Stockholders’ Representative shall provide the Escrow Agent with an executed Disbursement Request (as defined below) regarding the release of such undisputed portion of the Claim Amount from the Escrow Amount.
Upon expiration of the Contest Notice Period, if no Contest Notice has been delivered to the Buyer during such period, the Buyer and the Stockholders’ Representative shall provide the Escrow Agent with an executed Disbursement Request to release a portion of the Escrow Amount with sufficient value to satisfy the Claim Amount, as calculated in Section 1.4(d) herein.