Dispute Resolution Auditor definition
Examples of Dispute Resolution Auditor in a sentence
Any further submissions to the Dispute Resolution Auditor must be written and delivered to each party to the dispute.
The resolution of the dispute by the Dispute Resolution Auditor shall be final, binding and non-appealable on the parties hereto.
The resolution of the dispute by the Dispute Resolution Auditor shall be final, binding and non‑appealable on Buyer, the Stockholders and the Optionholders for purposes of this Section 2.11.
For example, if the Member Representative claims the Net Working Capital is $1,000 greater than the amount determined by Buyer’s accountants, and Buyer contests only $500 of the amount claimed by the Member Representative, and if the Dispute Resolution Auditor ultimately resolves the dispute by awarding the Sellers $300 of the $500 contested, then the costs and expenses of arbitration will be allocated 60% (i.e., 300 ÷ 500) to Buyer and 40% (i.e., 200 ÷ 500) to the Sellers.
The Member Representative and Buyer shall use their commercially reasonable efforts to cause the Dispute Resolution Auditor to resolve all disagreements as soon as practicable.
The costs and expenses of the Dispute Resolution Auditor shall be allocated between Buyer, on the one hand and the Sellers on the other hand, based upon the percentage which the portion of the contested amount not awarded to each party bears to the amount actually contested by such party (with each Seller responsible for his or her portion of such costs and expenses (determined on a pro rata basis according to each party’s membership interests)).
The Dispute Resolution Auditor shall consider only those items and amounts which are identified in the Objections Statement as being items which the Member Representative and Buyer are unable to resolve.
The fees, costs and expenses of the Dispute Resolution Auditor shall be borne equally by the Buyer and Sellers, unless the Dispute Resolution Auditor determines otherwise on the basis that any party has acted unreasonably.
The Representative and Buyer shall use their commercially reasonable efforts to cause the Dispute Resolution Auditor to resolve all disagreements as soon as practicable.
The Dispute Resolution Auditor shall consider only those items and amounts which are identified in the Notice of Disagreement as being items which the Representative and Buyer are unable to resolve.