Selection of Third Broker Sample Clauses

The 'Selection of Third Broker' clause establishes the procedure for appointing a neutral third broker when two parties cannot agree on a valuation or decision that requires broker input. Typically, each party selects its own broker, and if those brokers cannot reach consensus, they jointly appoint a third, impartial broker to resolve the impasse. This mechanism ensures that disputes over valuations or other broker-related matters are resolved fairly and efficiently, preventing deadlocks and facilitating continued progress in the transaction or agreement.