Commercial Adjustment definition
Examples of Commercial Adjustment in a sentence
The Final Commercial Adjustment Statement shall include the Annual Projection Adjustment Amounts for fiscal years 2014, 2015, 2016 and 2017 and supporting documentation and information sufficient for SDC to reproduce the calculation of the Total Projection Adjustment Amount and the Volume Price Adjustment Amount.
In resolving the Disputed Commercial Adjustment Items that are Projection Adjustment Input Items, the Accounting Firm shall only assign a value to any Disputed Commercial Adjustment Item that is at or between SDC’s valuation of such Disputed Commercial Adjustment Item and Corning Buyer’s valuation of such Disputed Commercial Adjustment Item.
If SDC objects to the Final Commercial Adjustment Statement within the time period and in the manner set forth in Section 10.7, then the Final Commercial Adjustment Statement shall become final and binding for all purposes hereunder on the date that Corning Buyer receives the Notice of Commercial Adjustment Disagreement except with respect to, and only to the extent of, the Disputed Commercial Adjustment Items in the Notice of Commercial Adjustment Disagreement.
Corning Buyer and SDC agree that the procedures set forth in this SECTION 10 for resolving disputes regarding the Disputed Commercial Adjustment Items shall be the sole methods for resolving such disputes.
Each of SDC and Corning Buyer shall bear and pay one-half of the fees and other costs charged by such Accounting Firm and shall use commercially reasonable efforts to cooperate with the Accounting Firm and ensure that the Accounting Firm is able to resolve the Disputed Commercial Adjustment Items within seventy (70) days.
Each Disputed Commercial Adjustment Item shall become final and binding for all purposes hereunder on the earliest of (i) the date on which Corning Buyer and SDC agree to a resolution of such Disputed Commercial Adjustment Item in a writing signed by both Corning Buyer and SDC or (ii) the date on which the Accounting Firm notifies Corning Buyer and SDC in writing of its resolution of such Disputed Commercial Adjustment Item.
Within seventy (70) days after January 1, 2018, Corning Buyer shall deliver to SDC a statement (the “Final Commercial Adjustment Statement”) setting forth (i) the “Total Projection Adjustment Amount” which shall be calculated for the period from 2014 to 2017 in accordance with the “Projection Adjustment Model” attached hereto as Annex 5-A (an illustrative calculation of the Total Projection Adjustment Amount is provided as Annex 5-B) and (ii) the Volume Price Adjustment Amount.