Appraisal Process definition
Appraisal Process means the following process which shall begin on the business day following delivery of the applicable Put Notice: (i) Executive and Parent shall negotiate to set a valuation in good faith; and (ii) if they cannot agree within 10 days following delivery of the Put Notice (or such longer period as Executive and Parent may agree), then (A) Parent and Executive shall mutually agree upon and promptly appoint an appraiser of national recognition (or, in the event Parent and Executive cannot agree on an appraiser, then Parent and Executive shall each select an appraiser of national recognition, and the appraisers chosen by Parent and Executive shall mutually agree upon and appoint an appraiser of national recognition), (B) each of Parent and Executive shall submit to each other and to such appraiser within 15 days following the engagement of the appraiser (x) its valuation of the fair market value of the Put Units and (y) reasonable documentation in support of such valuation, and (C) the appraiser shall select either Parent’s or Executive’s valuation of the fair market value of the Put Units. Notwithstanding the foregoing, if Executive delivers a Put Notice during the final 45 days of the Initial Put Period and on such date a Restriction applies, the Appraisal Process described in clause (ii) of the foregoing sentence shall not commence unless and until such Restriction ceases to apply at any time during the remainder of the Initial Put Period. The appraiser shall make such selection within 20 days after the receipt of both parties’ valuations and documentation with respect thereto, and Parent and Executive shall cooperate in all reasonable respects with the appraiser. In determining which party’s valuation of the fair market value of the Put Units to select, the appraiser shall not discount the value of the Put Units for illiquidity or minority status or other similar status. The appraiser’s selection of either party’s valuation shall be final, conclusive and binding upon Executive and Parent, and the cost of such appraiser shall be borne entirely by the party whose valuation of the fair market value of the Put Units was not selected by the appraiser. For the avoidance of doubt, the appraiser’s determination shall be limited solely to selecting Parent or Executive’s valuation of the fair market value of the Put Units. Each of Parent and Executive shall, promptly following a written request by the other party, provide the other party and its representatives and ...
Appraisal Process means a systematic Analysis of the factors that bear upon the value or utility of real estate.
Appraisal Process means the process set forth in Article 1, Subsection 4.3.2.2, to resolve disputed Adjusted Base Rent.
Examples of Appraisal Process in a sentence
The PAR program affirms the district’s efforts to support and appraise teachers based on the guidelines of the district’s Teacher Appraisal Process (TAP).
The expectation for life-long learning and our beliefs about professional growth are woven throughout the Professional Appraisal Process, and the School Improvement Process.
The recommendation for non-renewal shall be based on his/her inability or unwillingness to correct professional deficiency or deficiencies, identified during the formal Appraisal Process.
All licensed/certified employees participate in the Olathe District Appraisal Process, as outlined in the Appraisal Brochure (Appendix C, Negotiated Agreement).
The Appraisal Process meets the statutory requirements of the Certificated Personnel Evaluation Act K.S.A 72-2407 to 72-2412.
More Definitions of Appraisal Process
Appraisal Process means the process described in the definition of Appraisal Price in order to arrive at the Appraisal Price.
Appraisal Process means the process set forth in Article 1, Subsection 4.3.2.2, to resolve disputed Adjusted Land Rent.
Appraisal Process means the following procedure for determination of the Fair Market Rental Value or the Fair Market Purchase Value (each, hereinafter, the “Fair Market Value”), and the procedure for such determination shall be as follows. If either party gives written notice to the other requesting the determination of the Fair Market Value of the Equipment by an appraisal process, then each party will select an independent appraiser within ten (10) Business Days of receipt of such notice. If either party fails to appoint an appraiser within the required time, the decision of the appraiser appointed by the other party will be final. If two appraisers are appointed, they will confer and agree, within twenty (20) Business Days following the selection of the later of them to be appointed, upon Fair Market Value. If they do not agree within such timeframe, then they must, within five (5) Business Days after their failure to agree, select a third independent appraiser who will independently determine Fair Market Value within twenty (20) Business Days following his/her acceptance of his/her appointment, and such determination will be final. If the initial two appraisers do not agree upon such third appraiser within the prescribed timeframe, then either party may request the American Arbitration Association to appoint such third appraiser within twenty (20) Business Days after such request is made, and both parties will be bound by any appointment so made. Any appraiser appointed pursuant to the foregoing procedure will be instructed to determine, within twenty (20) Business Days after his appointment, Fair Market Value of the Equipment, and his determination thereof will be final. All expenses and costs relating to the Appraisal Procedure will be borne by Lessee.
Appraisal Process shall have the meaning set forth in Section 8.04.
Appraisal Process means the following process: within three business days after the effectiveness of the Drag Along Notice, the Participating Sellers shall, by majority vote, select a representative (the "Representative") to meet with the Prospective Selling Investors. If no such representative has been selected within such three business day period, then the Company shall serve as the Representative. The Prospective Selling Investors shall meet with the Representative to discuss the per share price to be paid in the proposed Sale as set forth in the Drag Along Notice. If the Representative agrees to the per share price set forth in the Drag Along Notice, then the Prospective Selling Investors may effect the proposed Sale pursuant to Section 3.2, 3.3 or 3.4, as applicable. If the Representative does not agree to the per share price set forth in the Drag Along Notice within three business days after the first meeting between the Prospective Selling Investors and the Representative, then the Representative and the Prospective Selling Investors shall each select an Appraiser within three business days and the two Appraisers shall each make an independent appraisal as to the per share fair value of the Shares to be sold in the proposed Sale. If the average of the two per share fair values determined by the Appraisers is less than or equal to the per share price as set forth in the Drag Along Notice, then the Prospective Selling Investors may effect the proposed Sale pursuant to Section 3.2, 3.3 or 3.4, as applicable, at the per share price set forth in the Drag Along Notice. If the average of the two per share fair values determined by the Appraisers is greater than the per share price as set forth in the Drag Along Notice, then the Prospective Selling Investors may either effect the proposed Sale pursuant to Section 3.2, 3.3 or 3.4, as applicable, at such average per share fair value or request that a third appraiser be selected, in which case the Prospective Selling Investors and the Representative shall attempt to agree on a third Appraiser. If, within three business days, the Prospective Selling Investors and the Representative cannot agree on a third Appraiser, then the two Appraisers selected by each of the Prospective Selling Investors and the Representative shall select a third Appraiser who shall make an independent appraisal as to the per share fair value of the Shares to be sold in the proposed Sale. An average shall be taken of the two out of three per share fair va...
Appraisal Process has the meaning set out in Section 8.6(4)(d)(ii).
Appraisal Process shall consist of, (x) in the case of any casualty which shall occur within fifteen (15) days of Closing, the reasonably estimated cost of repairing, restoring or replacing such Casualty as estimated by the Independent Contractor, or (y) in the case of any Casualty not subject to (x) above, (aa) if Buyer's Contractor's and Sellers' Contractor's respective estimation of the cost of repairing, restoring or replacing such Casualty shall not differ by greater than ten percent (10%) of the lower number, the average of Buyer's Contractor's and Sellers' Contractor's respective estimations, or (bb) in all other cases not subject to (aa), the selection by the Independent Contractor in its sole judgment of either Buyer's Contractor's or Sellers' Contractor's reasonably estimated cost of repairing, restoring or replacing such Casualty; provided, that, the Independent Contractor shall be required to select either Buyer's Contractor's estimate or Sellers' Contractor's estimate and shall have no authority to average or otherwise modify such estimates.