Independent Accountant definition
Examples of Independent Accountant in a sentence
The Independent Accountant is deemed to be acting as expert and not as arbitrator.
In the case of a dispute and the retention of the Independent Accountant to resolve such dispute, the costs and expenses of the Independent Accountant shall be borne equally by the Purchaser, on the one hand, and the Vendors, on the other hand; provided, that the Purchaser, on the one hand, and the Vendors, on the other hand, will each bear its own costs in presenting its position to the Independent Accountant.
Within 30 Business Days following submission of the dispute to the Independent Accountant, the Independent Accountant shall make a final determination in accordance with the terms and definitions of this Agreement, and based solely on the written submissions of the Purchaser and the Vendors, binding on the Parties, of the appropriate amount of each of the matters that remain in dispute.
If, in such situation, the Purchaser and the Vendors are unable to mutually agree on an Independent Accountant within a further period of 10 Business Days, then either of them may petition a court of competent jurisdiction to appoint the Independent Accountant.
The determination of the Independent Accountant will be final and binding upon the Parties and will not be subject to appeal, absent manifest error.