Examples of Earnout Objection Notice in a sentence
If Seller does not timely deliver an Earnout Objection Notice to Buyer or if Seller notifies Buyer that it has no objections, Buyer’s determination of the Earnout Eligible Product Revenue and Revenue Refund (if any) shall be final and binding on all parties.
Seller and Purchaser will use reasonable efforts to resolve any disagreements as to the calculations included in the Earnout Notice but if they do not agree to a final resolution with respect to any disagreement within thirty (30) days after Purchaser has received the Earnout Objection Notice, Seller, Parent and Purchaser will jointly retain an Independent Accounting Firm to resolve any remaining disagreements.
The failure of the Seller to deliver an Earnout Objection Notice within the thirty (30) day period hereinabove provided shall constitute the acceptance by the Seller of the Earnout EBITDA and the amount of Earnout Consideration set forth in the Earnout Notice whereupon such amounts shall be final, binding and conclusive for all purposes hereunder.
If an Earnout Objection Notice is timely delivered by Sellers’ Representative pursuant to Section 5(b), Buyer and Sellers’ Representative shall negotiate in good faith to agree upon the disputed items and/or amounts.
If applicable, following the delivery of an Earnout Objection Notice, the Seller Representative and Purchaser shall attempt in good faith to resolve the issues and objections in such Earnout Objection Notice.
If the Sellers’ Representative fails to deliver the Earnout Objection Notice within such seven-day period, the Net Profit set forth in the Earnout Notice shall be final and binding on all parties, including the Sellers’ Representative and Sellers.
Any Earnout Objection Notice shall specify in reasonable detail the basis for the objections set forth therein.
The Earnout Objection Notice shall specify the items and/or the amounts in the applicable Earnout Notice disputed by Sellers and shall describe in reasonable detail the basis for such objection.
If no Earnout Objection Notice has been sent by the Seller Representative within such thirty (30) Business Day period, then such Earnout Statement shall be deemed final.
In making such calculation, the Auditor shall consider only those items and amounts in the calculation of the Net Profit which are identified in the Earnout Objection Notice as being items as to which Sellers’ Representative has disagreed and the Auditor may not assign a value to any item greater than the greatest value for such item claimed by either party or less than the smallest value for such item claimed by either party.