Objection to Statements Sample Clauses
The Objection to Statements clause allows a party to formally dispute or challenge statements, claims, or assertions made by the other party within a contract or legal proceeding. In practice, this clause outlines the process and timeframe for raising objections, such as requiring written notice within a specified period after receiving a statement. Its core function is to ensure that disagreements over factual or legal assertions are addressed promptly and transparently, thereby preventing misunderstandings and preserving the right to contest potentially inaccurate or misleading information.
Objection to Statements. Tenant’s failure to object to any statement, invoice or billing rendered by Landlord within a period of thirty (30) days after receipt thereof shall constitute Tenant’s acquiescence with respect thereto.
Objection to Statements. Notwithstanding the provisions of Section 24.1, Tenant's failure to object to any statement, invoice or billing rendered by Landlord within a period of thirty (30) days after receipt thereof shall constitute Tenant's acquiescence with respect thereto and shall render such statement, invoice or billing an account stated between Landlord and Tenant.
Objection to Statements. Concessionaire's failure to object to any statement, invoice or billing rendered by Authority within a period of sixty (60) days after receipt thereof shall constitute Concessionaire's agreement and acceptance with respect to such statement, Invoice or billing and any claim based in the same shall be time barred.
Objection to Statements. In the event that the Shareholder Committee objects in good faith to the Closing Statement, the Software Revenue Statement delivered in accordance with Section 2.7(2) or the Software Revenue Statement for the Earn-out Year delivered in accordance with Section 2.7(3), the Shareholders shall so advise the Purchaser by delivery to the Purchaser of a written notice executed by such Shareholders (the "OBJECTION NOTICE") within 20 Business Days after the later of (i) delivery to the last of the Shareholders who are members of the Shareholder Committee of such statement, and (ii) the date that the Shareholder Committee had reasonable access to the relevant information supporting such statement in accordance with Section 2.7(4). The Objection Notice shall set out the reasons for the Shareholders' objection as well as the amount under dispute and reasonable details to the extent available of the calculation of such amount. In the event that the Parties agree on a resolution of the dispute set out in the Objection Notice, the Parties shall confirm the resolution in writing and shall thereafter be bound by such resolution and any adjustment to the Purchase Price required in accordance with Section 2.7(1) and Section 2.4 or any resulting payments shall be made within 10 Business Days of such resolution. In the event that the Parties are unable to settle any dispute set out in the Objection Notice within 30 days after the delivery by the Shareholders to the Purchaser of the Objection Notice, the dispute shall forthwith, and in any event within 45 days after the delivery by the Shareholders to the Purchaser of the Objection Notice, be referred to the Reviewing Accountants. The Reviewing Accountants shall finally settle the dispute between the Parties and no recourse may thereafter be had with regard to the referred dispute to any court or tribunal. In making a determination, the Reviewing Accountants shall act as experts and not as arbitrators. If the settlement of any dispute results in an adjustment to the Purchase Price in favour of the Shareholders of an aggregate amount that is less than the greater of (i) $25,000 and (ii) all costs of the Reviewing Accountants in respect of that dispute, then all costs of the Reviewing Accountants in respect of that dispute shall be borne by the Shareholders and shall be deducted by the Purchaser from any amount payable to the Shareholders pursuant to the Closing Statement or any of the Software Revenue Statements and remitted to ...