Common use of Umpire Analysis Clause in Contracts

Umpire Analysis. (a) The Independent Umpire, being an independent testing laboratory, must be chosen by the Buyer and Seller. If the Buyer and Seller fail to agree on the Independent Umpire, the Independent Umpire will be nominated by the Seller. (b) The Umpire Analysis must conduct its analysis as soon as possible. (c) The certified Umpire Analysis will be averaged with whichever of the Seller’s or the Buyer’s analysis is closer to the Umpire Analysis and the average so obtained will be accepted as final and binding by both the Buyer and Seller. (d) The cost of the Umpire Analysis will be borne equally between the Buyer and Seller. (e) Each Party may, at its own expense, have its representatives present during the Umpire Analysis conducted pursuant to this Clause 5 of this Schedule.