Referee definition
Examples of Referee in a sentence
The Accounting Referee shall have the authority to determine if the respective party has complied with its obligations under this Section 1.3(e) and to order any non-compliant party to comply with its obligations under this Section 1.3(e).
In making such calculation, the Accounting Referee shall consider only those still unresolved items and amounts in Buyer’s calculation of Adjustment Calculations as to which the Sellers duly objected in accordance with Section 1.3(c) and the Accounting Referee shall not consider any settlement offers exchanged between the parties.
The cost of such review and report shall be borne by the party whose determination of the Adjustment Calculations (as set forth in the statement submitted by the Buyer or in the Objection Statement), yielded the final Closing Payment farthest from that based upon the Adjustment Calculations determined by the Accounting Referee, or equally if the final Closing Payment based upon the determination of the Accounting Referee is equidistant between the determinations of the parties.
The Accounting Referee shall deliver to the Seller Representative and the Buyer, as promptly as practicable (but in any case, no later than thirty (30) days from the date of engagement of the Accounting Referee or such longer period as the Accounting Referee may reasonably require), a report setting forth calculations of the disputed amounts, and its reasonable basis for each of its determinations.
Each party shall comply with any such determination by such Accounting Referee.