Protest Letter definition
Examples of Protest Letter in a sentence
Except for the matters specifically set out in the Inventory Protest Letter, Buyer shall be deemed to have agreed to the Inventory Statement in full.
Except for the matters specifically set out in the Earnout Protest Letter, Seller shall be deemed to have agreed to the Earnout Statement to the extent of information disclosed to Seller at such time.
Except for the matters specifically set out in the NWC Protest Letter, Buyer shall be deemed to have agreed to the Net Working Capital Statement in full.
Notwithstanding the provisions of Section 2.8(c) and Section 2.8(d) to the contrary, in the event Seller elects to conduct an audit as provided above in any year, then delivery of the Earnout Protest Letter and the provisions of Section 2.8(d) for such year shall be deferred until such audit is completed.
Subject to Section 2.8(i), if Seller and Buyer are unable to mutually agree upon the Computed Amounts within twenty (20) days after receipt of an Earnout Protest Letter by Buyer, the Arbiter will be engaged by Seller and Buyer to determine the Computed Amounts.
If Seller timely delivers an Earnout Protest Letter, then Seller and Buyer shall meet by telephone, or at a mutually agreeable location, to discuss in good faith and attempt to reconcile their differences with respect to the amount of the Computed Amounts that are being challenged by Seller.
The Protest Letter is considered filed when the Protest Letter and the required filing fee of $1,000 are both timely received by the Village Clerk’s office.
If the Shareholder Representative delivers to the Buyer a Protest Letter in accordance with Section 2.3(b), the Buyer and the Shareholder Representative shall attempt to resolve the matter(s) in dispute in good faith.
If the only matter in dispute is the amount owed by the Sellers to Purchaser in respect of the final adjustment, the Selling Stockholder shall pay the undisputed amount (a “Selling Stockholder Undisputed Amount”), if any, to Purchaser contemporaneously with delivery of the Protest Letter by wire transfer of immediately available funds to the account designated in writing by Purchaser.
In order for the Protest Letter and filing fee to be considered timely delivered by hand delivery, the date stamp of the Clerk’s office must appear on the original Protest Letter and/or a copy of the Protest Letter and the date stamp must also appear on a copy of the check issued for the payment of the filing fee, or, if payment is made in cash, a receipt must be issued by the Clerk’s office reflecting the date of receipt of the payment.