Common use of Final Settlement Statement Clause in Contracts

Final Settlement Statement. (a) As soon as practicable after the Closing, but in no event later than ninety (90) days after Closing, Sellers shall prepare and deliver to Buyers, in accordance with this Agreement and generally accepted accounting principles, a statement ("Final Settlement Statement") setting forth each adjustment (other than adjustments for Title Defects) finally determined as of Closing and showing the calculation of such adjustments. Within thirty (30) days after receipt of the Final Settlement Statement, Buyers shall deliver to Sellers a written report containing any changes that Buyers propose be made in good faith to resolve any questions with respect to the amounts due pursuant to such Final Settlement Statement no later than one hundred twenty (120) days after the Closing. The Parties shall employ that degree of effort as would prudent business persons engaged in on going business relationships to reach agreement as to the amounts due pursuant to such Final Settlement Statement no later than thirty (30) days after the submission to Sellers of proposed changes to the Final Settlement Statement. (b) Should the Parties not reach agreement as to the amounts due pursuant to such Final Settlement Statement, the disputed items shall be submitted to KPMG, LLP for resolution The decision of KPMG, LLP shall be considered final as between the Parties. Cost for KPMG, LLP and resolution of the dispute will be apportioned between Sellers and Buyers in proportion to the award by KPMG. (c) The date upon which such agreement or resolution is reached shall be called the "Settlement Date". On the Settlement Date, should one party be obligated to the other by reason of the Final Settlement Statement, the indebted party shall pay to the other party, in immediately available funds, those monies determined to be due under the Final Settlement Statement. Until paid, all past due amounts hereunder shall bear interest at the lesser of prime plus two percent, as established by Bank of Texas, N.A., Houston, Texas (computed based on a 360 day year) or the maximum lawful rate permitted by applicable law (the "Interest Rate").

Final Settlement Statement. (a) As soon as practicable after the Closing, but in no event later than ninety (90) days after Closing, Sellers Seller shall prepare and deliver to BuyersBuyer, in accordance with this Agreement and generally accepted accounting principles, a statement ("Final Settlement Statement") setting forth each adjustment (other than adjustments for Title Defects) finally determined as of Closing and showing the calculation of such adjustments. Within thirty (30) days after receipt of the Final Settlement Statement, Buyers Buyer shall deliver to Sellers Seller a written report containing any changes that Buyers propose Buyer proposes be made in good faith to resolve any questions with respect to the amounts due pursuant to such Final Settlement Statement no later than one hundred twenty (120) days after the Closing. The Parties shall employ that degree of effort as would prudent business persons engaged in on going ongoing business relationships to reach agreement as to the amounts due pursuant to such Final Settlement Statement no later than thirty (30) days after the submission to Sellers Seller of proposed changes to the Final Settlement Statement. (b) Should the Parties not reach agreement as to the amounts due pursuant to such Final Settlement Statement, the disputed items shall be submitted to KPMG, LLP for resolution resolution. The decision of KPMG, LLP shall be considered final as between the Parties. Cost for KPMG, LLP and resolution of the dispute will be apportioned between Sellers Seller and Buyers Buyer in proportion to the award by KPMG. (c) The date upon which such agreement or resolution is reached shall be called the "Settlement Date". ." On the Settlement Date, should one party be obligated to the other by reason of the Final Settlement Statement, the indebted party shall pay to the other party, in immediately available fundsby bank wire transfer, those monies determined to be due under the Final Settlement Statement. Until paid, all past due amounts hereunder shall bear interest from the Settlement Date at the lesser of prime plus two percent, as established by Bank of TexasOklahoma, N.A., Houstonin Oklahoma City, Texas Oklahoma (computed based on a 360 day year) or the maximum lawful rate permitted by applicable law (the "Interest Rate").

Final Settlement Statement. (a) As soon as practicable after the Closing, but in no event later than ninety (90) days after Closing, Sellers Seller shall prepare and deliver to BuyersBuyer, in accordance with this Agreement and generally accepted accounting principles, a statement ("Final Settlement Statement") setting forth each adjustment (other than adjustments for Title Defects) finally determined as of Closing and showing the calculation of such adjustments. Within thirty (30) days after receipt of the Final Settlement Statement, Buyers Buyer shall deliver to Sellers Seller a written report containing any changes that Buyers propose Buyer proposes be made in good faith to resolve any questions with respect to the amounts due pursuant to such Final Settlement Statement no later than one hundred twenty (120) days after the Closing. The Parties shall employ that degree of effort as would prudent business persons engaged in on going ongoing business relationships to reach agreement as to the amounts due pursuant to such Final Settlement Statement no later than thirty (30) days after the submission to Sellers Seller of proposed changes to the Final Settlement Statement. (b) Should the Parties not reach agreement as to the amounts due pursuant to such Final Settlement Statement, the disputed items shall be submitted to KPMG, LLP for resolution resolution. The decision of KPMG, LLP shall be considered final as between the Parties. Cost for KPMG, LLP and resolution of the dispute will be apportioned between Sellers Seller and Buyers Buyer in proportion to the award by KPMG. (c) The date upon which such agreement or resolution is reached shall be called the "Settlement Date". ." On the Settlement Date, should one party be obligated to the other by reason of the Final Settlement Statement, the indebted party shall pay to the other party, in immediately available funds, those monies determined to be due under the Final Settlement Statement. Until paid, all past due amounts hereunder shall bear interest at the lesser of prime plus two percent, as established by Bank of TexasOklahoma, N.A., Houstonin Oklahoma City, Texas Oklahoma (computed based on a 360 day year) or the maximum lawful rate permitted by applicable law (the "Interest Rate").