Common use of Time for Objections Clause in Contracts

Time for Objections. After the Purchaser shall have furnished the Initial Accounting Report to the Sellers, if the Sellers should object to that report on the grounds that it is not consistent with GAAP, consistently applied, the Sellers may give written notice of their objection to the Purchaser within twenty (20) calendar days after the Sellers' receipt of that report. If requested by the Sellers at the time of delivery of such notice, the Purchaser shall cause the CPA promptly to make available to the Sellers and the Accountants any report prepared by the CPA with respect to the matters in dispute in connection with the Initial Accounting Report. If no such objection is made within such twenty (20) day period, or if the Purchaser and the Sellers agree upon all matters in dispute, that Initial Accounting Report, as adjusted to reflect any such agreements, shall be final and binding on all parties hereto for the purpose of determining the Net Worth as of the Closing Date and the Net Debt as of the Closing Date and shall be referred to as the "Final Accounting Report".

Time for Objections. After the Purchaser shall have furnished the Initial Accounting Report to the SellersCounsel Entities, if the Sellers Counsel Entities should object to that report on the grounds that it is not consistent with GAAP, consistently applied, the Sellers Counsel Entities may give written notice of their objection to the Purchaser within twenty (20) calendar days after the SellersCounsel Entities' receipt of that report. If requested by the Sellers Counsel Entities at the time of delivery of such notice, the Purchaser shall cause the CPA promptly to make available to the Sellers Counsel Entities and the Accountants any report prepared by the CPA with respect to the matters in dispute in connection with the Initial Accounting Report. If no such objection is made within such twenty (20) day period, or if the Purchaser and the Sellers Counsel Entities agree upon all matters in dispute, that Initial Accounting Report, as adjusted to reflect any such agreements, shall be final and binding on all parties hereto for the purpose of determining the Net Worth as of the Closing Date and the Net Debt as of the Closing Date and shall be referred to as the "Final Accounting Report".