Examples of Draft Statement in a sentence
If the Beneficiary and the Obligor do not reach an agreement on the Draft Statement within the period referred to in Clause 1.1.1(c) above, then the Disputed Items (and only those) shall be referred, on the application of either the Beneficiary or the Obligor, for determination to Deloitte Finance SAS.
The decision of the Expert shall be founded and the Expert shall provide the Beneficiary and the Obligor with the Final Statement which shall state the amounts of the Reference Year Revenues and specify in reasonable details what adjustments, if any, have been made to the Draft Statement in respect of the Disputed Items.
Following appointment of the Expert, the Beneficiary, the Obligor and their respective Accountant shall each promptly (and in any event within such time frame as reasonably enables the Expert to make its decision in accordance with the period set forth in paragraph (d) below) prepare and deliver to the Expert a written statement on the Disputed Items (together with the relevant documents including (i) the Notice of Non-Acceptance and (ii) the 2017 Consolidated Accounts and (iii) the Draft Statement.
The Draft Statement shall be prepared in accordance with Schedule 5.
The Beneficiary shall notify the Obligor within forty five (45) Business Days of receipt of the Draft Statement whether or not it agrees on the Reference Year Revenues set out in the Draft Statement.
Within twenty (20) Business Days after the finalization by the Company’s auditor of the 2017 Consolidated Accounts, the Obligor shall draw up a written statement (the " Draft Statement") setting out the proposed amount of the Reference Year Revenues.
If the Beneficiary is satisfied with the Draft Statement or the Beneficiary fails to send a Notice of Non-Acceptance within the period referred to in Clause 4.2(b), then such Exercise Notice shall constitute the Final Statement for the purposes of this Put Option and the Reference Year Revenues set out in the Exercise Notice shall be final and binding upon the Parties.
The Independent Accountant shall allow each of Purchaser and Seller to submit, in writing, their respective positions regarding the Draft Statement, and Purchaser and Seller shall have the right to submit additional documents, materials and other written information with appropriate copies and notifications sent to the other Party at the same time.
In the event of a disagreement of the Beneficiary with respect to the Draft Statement notified within this period (the " Notice of Non-Acceptance"), then the Procedure for Settlement of Disputes described in Schedule 1 (Procedure for the Settlement of Disputes) shall apply.
Within sixty (60) days after each respective Closing Date, Purchaser will cause the applicable Corporation to provide Seller with a statement (the "Draft Statement") that sets out the determination of such Corporation's actual Working Capital and Net Indebtedness of the Closing Date, determined in accordance with this Agreement and in accordance with IFRS, consistently applied.