Fair Market Value Procedures Clause Samples

Fair Market Value Procedures. The fair market value of the Interest shall be determined by either: (a) the Interest’s fair market value as agreed upon by the transferring and acquiring Party; or (b) if the transferring and acquiring Party cannot agree on the fair market value, each party, at their own expense, shall select a business valuation appraiser and the average valuation shall be used, subject to Section 9.7 (c). (c) in the event that either Party is not satisfied with the average valuation obtained pursuant to Section 9.7 (b), then the two selected business valuation appraisers shall select a third independent business valuation appraiser who shall determine the fair market value of the Interest. The appraisal cost of the third independent business valuation appraiser shall be paid equally by the Parties.