Objection Statement definition
Examples of Objection Statement in a sentence
If an Objection Statement is delivered within such thirty (30) day period, then the Seller Representative and the Purchaser Representative shall negotiate in good faith to resolve any such objections for a period of twenty (20) days thereafter.
If an Objection Statement is not delivered by a Representative Party within thirty (30) days following the date of delivery of the Closing Statement, then such Representative Party will have waived its right to contest the Closing Statement, all determinations and calculations set forth therein, and the resulting Merger Consideration set forth therein.
The cost of such review and report shall be borne by the party whose determination of the Adjustment Calculations (as set forth in the statement submitted by the Buyer or in the Objection Statement), yielded the final Closing Payment farthest from that based upon the Adjustment Calculations determined by the Accounting Referee, or equally if the final Closing Payment based upon the determination of the Accounting Referee is equidistant between the determinations of the parties.
The Seller Representative shall be deemed to have agreed with all other items and amounts contained in the Adjustment Calculations that are not disputed in the Objection Statement.
The Accounting Referee’s calculation shall not be more favorable to the Buyer than the amount thereof shown in the Buyer’s calculation delivered pursuant to Section 1.3(b) nor more favorable to the Sellers than the amount thereof shown in the Objection Statement.