Disputed Item definition
Examples of Disputed Item in a sentence
In resolving any Disputed Item, the Neutral Accountant may not assign a greater or lesser value to any Disputed Item than that assigned to such Disputed Item by the Purchaser or the Seller in the Initial Closing Statement or the Notice of Disagreement, as applicable.
The Seller and the Purchaser shall request that the Neutral Accountant (A) make a final determination of all the Disputed Items within twenty (20) Business Days from the Initial Submission Date, and (B) provide a reasonably detailed basis for its determination in respect of each Disputed Item.
Within fifteen (15) Business Days after the Initial Submission Date, each of such Party may simultaneously deliver to the Neutral Accountant and to each other its response to the other’s position on each Disputed Item.
The Parties agree that the determination of the Accountant with respect to any Disputed Item is not intended to permit the introduction of accounting methods, policies, principles, practices, procedures, classifications or estimation methodologies different from those described in the Accounting Principles.
In resolving any Disputed Items, the Accountant may not assign a value to any Disputed Item greater than the greatest value for such Disputed Item claimed by the HS Parties or FPH or less than the lowest value for such Disputed Item claimed by the HS Parties or FPH, in each case.