Examples of Earnout Review Period in a sentence
If Seller disputes the calculations set forth in the Interim Earnout Statement, Seller shall deliver, prior to the expiration of the Earnout Review Period, written notice to Buyer setting forth any objection of Seller to such Interim Earnout Statement (an “Earnout Statement of Objections”).
On or prior to the last day of the Earnout Review Period, Seller may object to the Earnout Calculation Statement by delivering to Buyer a written statement setting forth Seller’s objections in reasonable detail (the “Statement of Earnout Calculation Objections”).
If Seller fails to deliver the Statement of Earnout Calculation Objections before the expiration of the Earnout Review Period, the Earnout Calculation Statement shall be deemed to have been accepted by Seller.
If Seller does not deliver an Earnout Statement of Objections to Buyer prior to the expiration of the Earnout Review Period, then the Interim Earnout Statement prepared and delivered by Buyer shall be deemed final.
If the Seller delivers an Earnout Statement of Objections prior to the expiration of an applicable Earnout Review Period and Buyer agrees with the calculations set forth on the Earnout Statement of Objections, then the Interim Earnout Statement shall be revised to reflect such agreement and shall be deemed final.
During the Earnout Review Period, the Buyer shall deliver, or cause the Company to deliver, such financial statements and books and records and supporting documentation as may be reasonably requested by such Rollover Sellers to confirm in all material respects the Company’s calculation of the Earnout Payment.
Prior to the expiration of the Earnout Review Period, the Sellers’ Representative may object to the Earnout Calculation set forth in the Earnout Calculation Statement for the applicable EBIT Year by delivering a written notice of objection signed by the Sellers’ Representative (an “ Earnout Calculation Objection Notice ”) to Buyer.
If the Member delivers an Earnout Dispute Notice to Holdco prior to the expiration of the Earnout Review Period, then Holdco and the Member shall negotiate in good faith to reach agreement on any items disputed in the Earnout Dispute Notice within the thirty (30)-day period commencing upon the delivery to Holdco of the Earnout Dispute Notice.
If the Sellers’ Representative fails to deliver the Adjusted EBITDA Earnout Statement of Objections before the expiration of the Adjusted EBITDA Earnout Review Period, the Adjusted EBITDA Earnout Payment as calculated by Buyer and set forth in the Adjusted EBITDA Earnout Statement shall be deemed final and to have been accepted by the Sellers’ Representative and the Seller Members.
If Seller fails to deliver the Earnout Statement of Objections before the expiration of the Earnout Review Period, the Revenue, Earnout Shares and Earnout Payment reflected in the Earnout Statement shall be deemed to have been accepted by Seller as of the last day of the Earnout Review Period.