Additional Appraiser definition
Examples of Additional Appraiser in a sentence
In the event that the Independent Appraisers fail to jointly appoint the Additional Appraiser no later than one hundred thirty (130) days after the Appraisal, either of the Appraisal Option Parties may initiate an arbitration proceeding with JAMS in the District of Columbia for the purpose of appointing a replacement for the Additional Appraiser.
The appointment of such replacement for the Additional Appraiser (who, for the purposes of the remainder of this Section 8.1(c), shall also be known as the “Additional Appraiser”) and the determination of the Fair Market Value and the submission of an FMV Report to each of the Appraisal Option Parties by such appraiser shall occur as promptly as reasonably practicable.
The Additional Appraiser shall determine the Fair Market Value and submit an FMV Report no later than one hundred sixty (160) days after the Appraisal Anniversary.
All costs and expenses for the appraisal performed by the Additional Appraiser shall be borne equally by the Appraisal Option Parties.
The Additional Appraiser shall forthwith give written notice of his determination to the Corporation and the Stockholder.
The Additional Appraiser shall complete the necessary research and render an opinion promptly.
If the difference between the resulting appraisals is not greater than ten percent (10%) of the higher appraisal, then the average of the appraisals shall be deemed the Appraised Value; otherwise, the Initial Appraisers shall select an additional appraiser who shall be experienced in a manner similar to the Initial Appraisers (the "Additional Appraiser").
If the Appraisers first appointed shall be unable to agree on an Additional Appraiser, such Additional Appraiser shall be appointed by the American Arbitration Association, located in New York City.
The Additional Appraiser shall appraise such shares to be redeemed as of the date of the redemption and shall forthwith give written notice of his determination to the Corporation and the holders of the Preferred Stock.
The Additional Appraiser shall forthwith give written notice of his determination to the Seller and the Buyer.