Examples of Initiating Notice in a sentence
If the terms of reference are not agreed within five Business Days after the date of submitting the Initiating Notice (or such longer period as agreed between the parties), the referral to the Expert Committee is deemed to be terminated.
If the terms of reference are not agreed within five Business Days after the date of submitting the Initiating Notice (or such longer period as agreed between the parties), the referral to the Expert Committee shall be deemed to be terminated.
If the parties timely deliver their Valuation Documents (or if the Delaying Party delivers its Valuation Documents together with the Late Fee within the 10-business day period set out above) and their Qualified Appraisers reach agreement on the Land Value within 75 days after the Initiating Notice is received by the applicable party, the Reset Rent shall be determined with reference to the agreed Land Value.
If the parties fail to agree on such Reset Rent within 30 days after the date the Initiating Notice is given, then, within 60 days after the date the Initiating Notice is given, each party shall deliver to the other party a notice designating such party’s Qualified Appraiser and stating its determination of the Land Value together with an appraisal supporting such determination (collectively, the “Valuation Documents”).
In the absence of agreement on the terms of reference within 5 Business Days after date of the Initiating Notice (or such longer period as agreed between the parties), the referral to the Expert Committee shall be deemed to be terminated.