Common use of Authority's Determination Clause in Contracts

Authority's Determination. a When Authority is required to determine value, additional cost or any adjustment (increase or decrease) to the Concession Period, it shall consult with the Concessionaire in an endeavor to reach an agreement within 45 (forty five) days of the receipt of notice wherein the Authority is required to determine such value, cost or adjustment to the Concession Period. The Authority’s determination on value, cost and adjustment of the Concession Period shall be intimated to the Concessionaire within 45 (forty five) days of the date of receipt of the notice requesting any such adjustment. b If the Concessionaire disputes Authority's determination of value, cost or adjustment to the Concession Period, the matter shall be referred to an Independent Advisor (the “Independent Advisor” / “Expert”) to be appointed by the Authority, in accordance with the following provisions: i If the Concessionaire disagrees with the value, cost or adjustment determined by the Authority, it shall give a notice in writing of its intention to the Authority, as soon as may be reasonable and in any event within 15 (fifteen) days after receipt of notice of the value, cost or adjustment and thereafter within a further period of 7 (seven) days to notify the Independent Advisor of such dispute.