Common use of FMV Clause in Contracts

FMV. For purposes of Section 22.1, Section 22.2 and Section 22.3 above, FMV shall be determined by mutual agreement of the Investor Member and the Managing Member. If the parties are unable to agree to FMV within seventy-five (75) days after the initial notice given under Section 22.1 or 22.3, then each party shall obtain a broker's opinion of value of the Offered Facilities or Designated Facilities and the two opinions of value shall be averaged together to obtain FMV; provided, that if the opinions of value vary in value by more than five percent (5%), a third broker shall be selected by mutual agreement of the parties, and the three opinions of value shall be average together to obtain FMV; provided, further, that if one of the three opinions of value is more than 110% or less than 90% of the average of the other two opinions of value, FMV shall be the average of the other two opinions of value. The Company shall pay the cost of all opinions of value required under this Section 22.4.