Second Appraisal Sample Clauses
The Second Appraisal clause establishes a process for obtaining an independent, additional valuation when parties disagree with an initial appraisal. Typically, if one party disputes the outcome of the first appraisal—such as the value of property, damages, or assets—a second, neutral appraiser is appointed to reassess the matter. This mechanism ensures fairness and accuracy in valuation disputes, providing a structured way to resolve disagreements and prevent prolonged conflicts over appraised values.
Second Appraisal. If a second appraiser has been selected pursuant to subparagraph (i) above, the two appraisers so selected shall consult with each other in an effort to reach an agreement as to the fair market value. If the two appraisers shall agree in writing as to the fair market value of the property in question within forty-five (45) days following the appointment of the second appraiser, the fair market value of such property shall be the amount to which the appraisers have agreed, and the Appraisal Process shall be concluded. In the event the two appraisers are unable to agree as to the fair market value, the two appraisers shall prepare their separate reports and submit them to the Company and the owner of the shares of Stock within sixty (60) days following the appointment of the second appraiser. If the higher fair market value exceeds the lower fair market value by 10% or less of the lower fair market value the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If the higher fair market value exceeds the lower fair market value by more than 10% of the lower fair market value, the owner of the shares of Stock and the Company shall further attempt to agree as to the fair market value.
Second Appraisal. If either Groom or HDD objects to the First Appraisal within the time period described in Section 2(c) of this Exhibit B, the objecting party shall, within ten (10) days after delivery of the First Objection Notice, designate a second Qualified Appraiser to serve as the second Designated Appraiser. Such second Designated Appraiser shall, within thirty (30) days after designation, deliver to Groom and HDD a written report describing in reasonable detail its determination of the fair market value of Trademark Assets (the "Second Appraisal"). Either party has seven (7) days after delivery of the Second Appraisal to object to the Second Appraisal, by delivery of a written notice of objection to the other party describing in reasonable detail the grounds for objection (the "Second Objection Notice"). If neither party objects to the Second Appraisal within the designated time, or a party does deliver a Second Objection Notice but fails to select a third Designated Appraiser within the time period described in Section 2(e) of this Exhibit, the Second Appraisal shall be deemed to be accepted by both parties and shall serve as the Trademark Assets Valuation for the purposes of the Agreement. Regardless of whether or not the Second Appraisal is accepted, the party who objected to the First Appraisal shall pay all of the fees charged by the second Designated Appraiser and all other cost related to the Second Appraisal.
Second Appraisal. In the event that D▇▇▇▇▇▇ (or her legal representative) shall dispute the Initial Valuation within such 20-day period, D▇▇▇▇▇▇ (or her legal representative) shall, at her sole expense, retain a qualified appraiser (the “Second Appraiser”) of her own choosing to make a second appraisal (the “Second Appraisal”) of the Fair Market Value of each D▇▇▇▇▇▇ Share. Any Second Appraisal shall, in any event, be completed within 30 days following delivery of the original Valuation Notice.
i. If the Second Appraisal is less than the Initial Valuation, the Initial Valuation shall be binding upon the parties.
ii. If the Second Appraisal exceeds the Initial Valuation by an amount not greater than 10 percent of the Initial Valuation, the Fair Market Value of each D▇▇▇▇▇▇ Share shall be the average of the Initial Valuation and the Second Appraisal.
Second Appraisal. At least five (5) Business Days and no more than thirty (30) days prior to the First Closing Date, and otherwise as soon as practicable with the written consent of Acquiror, the Transferors shall cause the Agreed Appraisers to conduct a further appraisal of the Transferor Vessels and the Substitute Vessels (the “Second Appraisal”) and shall cause copies thereof to be delivered to Acquiror promptly upon receipt thereof certified, with respect to each Transferor Vessel and each Substitute Vessel, by the Agreed Appraisers and an authorized representative of the relevant Transferor. Notwithstanding anything herein to the contrary, in the event that the First Closing does not occur within thirty (30) days of the Second Appraisal, the Transferors shall cause the Agreed Appraisers to conduct a further appraisal of the Transferor Vessels and the Substitute Vessels, to be delivered to Acquiror in accordance with the preceding sentence, whereupon such appraisals shall be deemed the “Second Appraisal” for the purposes of this Agreement, and this process shall be repeated each time required until the termination of this Agreement or until the First Closing Date.
Second Appraisal. If a second appraiser has been selected pursuant to subparagraph (i) above, the two appraisers so selected shall consult with each other in an effort to reach an agreement as to the fair market value. If the two appraisers shall agree in writing as to the fair market value of the property in question within forty-five (45) days following the appointment of the second appraiser, the fair market value of such property shall be the amount to which the appraisers have agreed, and the Appraisal Process shall be concluded. In the event the two appraisers are unable to agree as to the fair market value, the two appraisers shall prepare their separate reports and submit them to the Company and the owner of the shares of Stock within sixty (60) days following the appointment of the second appraiser. If the higher fair market value exceeds the lower fair market value by 10% or less of the lower fair market value the Appraisal Process shall be concluded and the fair market value of the