Selected Accountant definition
Examples of Selected Accountant in a sentence
Each of the Stockholders’ Representative and the Purchaser may furnish to the Selected Accountant such information and documents as it deems relevant, with copies of such submission and all such documents and information being concurrently given to the other party.
For example, should the items in dispute total in amount to $1,000 and the Selected Accountant awards $600 in favor of the Stockholders’ Representative’s position, 60% of the costs and expenses of its review would be borne by Purchaser and 40% of the costs and expenses would be borne by the Stockholders’ Representative.
All fees and disbursements of the Selected Accountant shall be paid by the Company.
Purchaser and the Stockholders’ Representative agree to (A) execute, if requested by the Selected Accountant, a reasonable engagement letter in customary form and (B) reasonably cooperate with the Selected Accountant so as to enable it to make such determination as quickly and as accurately as practicable.
The Selected Accountant’s determination will be based on such review as the Selected Accountant deems necessary to make its determination.
The Surviving Corporation and the Company Securityholders shall each bear fifty percent (50%) of the costs and expenses of the Selected Accountant.
The Surviving Corporation and the Stockholder Representative will direct the Selected Accountant to render a determination within thirty (30) calendar days of its retention and the Surviving Corporation and the Stockholder Representative will cooperate with the Selected Accountant during its engagement.
The parties hereto agree that the failure of the Selected Accountant to strictly conform to any deadline or time period contained herein shall not render the determination of the Selected Accountant invalid and shall not be a basis for seeking to overturn any determination rendered by the Selected Accountant.
The determination of the Closing Date Payment by the Selected Accountant will be conclusive and binding upon the Surviving Corporation and the Company Securityholders.
The Selected Accountant will consider only those items and amounts in the Closing Date Statement set forth in the Objection Notice which the Surviving Corporation and the Stockholder Representative are unable to resolve.