Appraisal Process means the following process which shall begin on the business day following delivery of the applicable Put Notice: (i) Executive and Parent shall negotiate to set a valuation in good faith; and (ii) if they cannot agree within 10 days following delivery of the Put Notice (or such longer period as Executive and Parent may agree), then (A) Parent and Executive shall mutually agree upon and promptly appoint an appraiser of national recognition (or, in the event Parent and Executive cannot agree on an appraiser, then Parent and Executive shall each select an appraiser of national recognition, and the appraisers chosen by Parent and Executive shall mutually agree upon and appoint an appraiser of national recognition), (B) each of Parent and Executive shall submit to each other and to such appraiser within 15 days following the engagement of the appraiser (x) its valuation of the fair market value of the Put Units and (y) reasonable documentation in support of such valuation, and (C) the appraiser shall select either Parent’s or Executive’s valuation of the fair market value of the Put Units. Notwithstanding the foregoing, if Executive delivers a Put Notice during the final 45 days of the Initial Put Period and on such date a Restriction applies, the Appraisal Process described in clause (ii) of the foregoing sentence shall not commence unless and until such Restriction ceases to apply at any time during the remainder of the Initial Put Period. The appraiser shall make such selection within 20 days after the receipt of both parties’ valuations and documentation with respect thereto, and Parent and Executive shall cooperate in all reasonable respects with the appraiser. In determining which party’s valuation of the fair market value of the Put Units to select, the appraiser shall not discount the value of the Put Units for illiquidity or minority status or other similar status. The appraiser’s selection of either party’s valuation shall be final, conclusive and binding upon Executive and Parent, and the cost of such appraiser shall be borne entirely by the party whose valuation of the fair market value of the Put Units was not selected by the appraiser. For the avoidance of doubt, the appraiser’s determination shall be limited solely to selecting Parent or Executive’s valuation of the fair market value of the Put Units. Each of Parent and Executive shall, promptly following a written request by the other party, provide the other party and its representatives and ...
Appraisal Process means a systematic Analysis of the factors that bear upon the value or utility of real estate.
Appraisal Process means the process described in the definition of Appraisal Price in order to arrive at the Appraisal Price.
Examples of Appraisal Process in a sentence
Managing Employee Performance and Training: Performance Appraisal & Performance Management – Definition, Objective, Importance, Appraisal Process and Appraisal Methods.
Overview of the Compliance Appraisal Process When CAO receives a complaint about an IFC or MIGA project, the complaint is referred for assessment.
The PAR program affirms the district’s efforts to support and appraise teachers based on the guidelines of the district’s Teacher Appraisal Process (TAP).
Reforming the Transport Infrastructure Appraisal Process: Key IssuesThe process by which governments select infrastructure in and for Sydney is called appraisal.
Code 107A Specialist Appraisal Process Delaware Performance Appraisal System (DPAS II) Revised.
More Definitions of Appraisal Process
Appraisal Process means the process set forth in Article 1, Subsection 4.3.2.2, to resolve disputed Adjusted Base Rent.
Appraisal Process means the following procedure for determination of the Fair Market Rental Value or the Fair Market Purchase Value (each, hereinafter, the “Fair Market Value”), and the procedure for such determination shall be as follows. If either party gives written notice to the other requesting the determination of the Fair Market Value of the Equipment by an appraisal process, then each party will select an independent appraiser within ten (10) Business Days of receipt of such notice. If either party fails to appoint an appraiser within the required time, the decision of the appraiser appointed by the other party will be final. If two appraisers are appointed, they will confer and agree, within twenty (20) Business Days following the selection of the later of them to be appointed, upon Fair Market Value. If they do not agree within such timeframe, then they must, within five (5) Business Days after their failure to agree, select a third independent appraiser who will independently determine Fair Market Value within twenty (20) Business Days following his/her acceptance of his/her appointment, and such determination will be final. If the initial two appraisers do not agree upon such third appraiser within the prescribed timeframe, then either party may request the American Arbitration Association to appoint such third appraiser within twenty (20) Business Days after such request is made, and both parties will be bound by any appointment so made. Any appraiser appointed pursuant to the foregoing procedure will be instructed to determine, within twenty (20) Business Days after his appointment, Fair Market Value of the Equipment, and his determination thereof will be final. All expenses and costs relating to the Appraisal Procedure will be borne by Lessee.
Appraisal Process means the process set forth in Article 1, Subsection 4.3.2.2, to resolve disputed Adjusted Land Rent.
Appraisal Process shall have the meaning set forth in Section 8.04.
Appraisal Process means the following process: within three (3) business days after the effectiveness of the Drag Along Notice, the Participating Drag Along Sellers shall, by Majority Series A Holder vote, select a representative (the “Representative”) to meet with the Prospective Drag Along Sellers. If no such Representative has been selected within such three (3) business day period, then the Board shall serve as the Representative. The Prospective Drag Along Sellers shall meet with the Representative to discuss the per share price for each type of Share to be paid in the proposed Sale as set forth in the Drag Along Notice. If the Representative agrees to the per share price for each type of Share set forth in the Drag Along Notice, then the Prospective Drag Along Sellers may effect the proposed Sale pursuant to Section 3.2. If the Representative does not agree to the per share price for each type of Share set forth in the Drag Along Notice within three (3) business days after the first meeting between the Prospective Drag Along Sellers and the Representative, then the Representative and the Prospective Drag Along Sellers shall each select an Appraiser within three (3) business days and the two (2) Appraisers shall each make an independent appraisal as to the per share fair value of each type of Share to be sold in the proposed Sale. If the average of the two (2) per share fair values for a type of Share determined by the Appraisers is less than or equal to the per share price for such type of Share as set forth in the Drag Along Notice, then the Prospective Drag Along Sellers may effect the proposed Sale pursuant to Section 3.2, as applicable, at the per share price for such type of Share set forth in the Drag Along Notice. If the average of the two (2) per share fair values for a type of Share determined by the Appraisers is greater than the per share price for such type of Share as set forth in the Drag Along Notice, then the Prospective Drag Along Sellers may either effect the proposed Sale pursuant to Section 3.2, as applicable, at such average per share fair value for such type of Share or request that a third appraiser be selected, in which case the Prospective Drag Along Sellers and the Representative shall attempt to agree on a third Appraiser. If, within three (3) business days, the Prospective Drag Along Sellers and the Representative cannot agree on a third Appraiser, then the two (2) Appraisers selected by each of the Prospective Drag Along Sellers and the Re...
Appraisal Process means the process pursuant to which the Members shall determine the Fair Market Value of one or more Projects, which shall be as follows; the Members shall attempt in good faith to agree in writing upon a single appraiser within 5 Business Days thereafter. If the Members agree, then such appraiser shall determine the Fair Market Value of (the applicable Project(s), which determination shall be binding upon the Members. If the Members cannot agree upon a single appraiser within such 5 Business Day period, then each Member shall appoint one appraiser by providing Notification to the other Member within 5 Business Days thereafter. Each of the two appraisers so appointed shall deliver its respective final written determination of Fair Market Value of the applicable Projects) to each Member within 30 days after the appointment of the second of such two appraisers. If either Member fails to appoint its appraiser within the time period prescribed above, the single appraiser appointed by the other Member shall determine the Fair Market Value of the applicable Project(s), which determination shall be binding upon the Members. If the difference between the two appraised values is not more than 10% of the higher value, then the Fair Market Value of the applicable Project(s) shall be the average of the two values. If the difference between the two appraised values is greater than 10% of the higher value, then within 5 Business Days thereafter, the two appointed appraisers shall appoint a third appraiser by providing Notification to the Members. If the two appraisers cannot agree upon a third appraiser, a third appraiser shall be appointed by the American Institute of Real Estate Appraisers (or, if such organization refuses to act in a timely manner or no longer exists, then by an organization deemed reasonably equivalent by the two appointed appraisers or, if they cannot agree, by the Members). The third appraiser shall deliver its final written determination of the Fair Market Value of the applicable Project(s) to both Members within 30 days after its appointment. If the third appraiser’s value is equal to or greater than the higher of the first two appraised values, or equal to or less than the lower of the first two appraised values, then the Fair Market Value of the applicable Projects) shall be the appraised value from one of the first two appraisers that is closest to the third appraised value. If the third appraised value is between the first two appraised valu...
Appraisal Process has the meaning set forth in Section 5.4. 22