Objection to Draft Closing Date Financial Statement Sample Clauses

Objection to Draft Closing Date Financial Statement. (a) Delivery of Objection Notice — In the event that the Purchaser objects in good faith to any item of the Closing Date Financial Statement, the Purchaser shall so advise the Vendor by delivery to the Vendor of a notice (the “Objection Notice”) within 10 days after the delivery to the Purchaser of the Closing Date Financial Statement. The Objection Notice shall set out the reasons for each of the Purchaser’s objections as well as each amount in dispute and reasonable details of the calculation of each such amount in dispute. If the Closing Date Financial Statement requires that the Purchaser make a payment to the Vendor as contemplated by Section 3.4, the Purchaser, at the same time any Objection Notice is given to the Vendor, will pay to the Vendor the amount to be paid to the Vendor except for the specific amount in dispute as reflected in the Objection Notice.