Adjustment Statement Dispute Resolution. If the Shareholders’ Representative timely notifies the Purchaser of an objection by the Shareholders’ Representative to the Preliminary Adjustment Statement in accordance with Section 2.5.2, and if the Shareholders’ Representative and the Purchaser are unable to resolve such dispute through good faith negotiations within fifteen (15) days after the Shareholders’ Representative’s delivery of such notice of objection, then the Shareholders’ Representative and the Purchaser shall mutually engage and submit such dispute to, and the same shall be finally resolved in accordance with the provisions of this Agreement by the Chicago office of BDO ▇▇▇▇▇▇▇ or, if such firm declines the representation, a nationally recognized accounting firm mutually agreed on by the Shareholders’ Representative and the Purchaser (the accounting firm ultimately chosen, the “Accounting Referee”). The Accounting Referee shall determine and report in writing to the Shareholders’ Representative and the Purchaser as to the resolution of all disputed matters and the effect of such determinations on the Preliminary Adjustment Statement within thirty (30) days after such submission or such longer period as the Accounting Referee may reasonably require, and such determinations shall be final, binding and conclusive on the Parties and upon which a judgment may be entered by a court of competent jurisdiction. The fees and disbursements of the Accounting Referee shall be borne fifty percent (50%) by the Shareholders and fifty percent (50%) by Buyer.
Appears in 1 contract
Adjustment Statement Dispute Resolution. If the ShareholdersStockholders’ Representative timely notifies the Purchaser Parent in accordance with paragraph (e) above of an objection by the ShareholdersStockholders’ Representative to the Preliminary Adjustment Statement in accordance with Section 2.5.2or the Preliminary Post-Closing Adjustment, and if the ShareholdersParent and Stockholders’ Representative and the Purchaser are unable to resolve such dispute through good faith negotiations within fifteen (15) days after the ShareholdersStockholders’ Representative’s delivery of such notice of objection, then the Shareholders’ Representative and the Purchaser parties shall mutually engage and submit such dispute to, and the same shall be finally resolved in accordance with the provisions of this Agreement by by, the Chicago Seattle, Washington office of BDO ▇▇▇▇▇▇▇ or, if such firm declines the representation, a nationally recognized accounting firm mutually agreed on by the Shareholders’ Representative and the Purchaser (the accounting firm ultimately chosen, the “Accounting Referee”)Independent Accountants. The Accounting Referee Independent Accountants shall determine and report in writing to the ShareholdersParent and Stockholders’ Representative and the Purchaser as to the resolution of all disputed matters submitted to the Independent Accountants and the effect of such determinations on the Preliminary Adjustment Statement and the Preliminary Post-Closing Adjustment within thirty twenty (3020) days after such submission or such longer period as the Accounting Referee Independent Accountants may reasonably require, and such determinations shall be final, binding and conclusive on the Parties as to Parent, Stockholders’ Representative, Stockholders and upon which a judgment may be entered by a court of competent jurisdictiontheir respective Affiliates. The fees and disbursements of the Accounting Referee Independent Accountants shall be borne fifty percent (50%) by the Shareholders party (i.e., Parent, on the one hand, and fifty percent Stockholders’ Representative (50%on behalf of the Securities Holders), on the other hand) that assigned amounts to items in dispute that were, on a net basis, furthest in amount from the amount finally determined by Buyer.the Independent
Appears in 1 contract
Sources: Merger Agreement (Globalscape Inc)
Adjustment Statement Dispute Resolution. If the ShareholdersStockholders’ Representative timely notifies the Purchaser Parent and Merger Sub in accordance with Section 3.5.2 of an objection by the ShareholdersStockholders’ Representative to the Preliminary Adjustment Statement in accordance with Section 2.5.2or the Preliminary Post-Closing Adjustment, and if the ShareholdersStockholders’ Representative and the Purchaser Parent are unable to resolve such dispute through good faith negotiations within fifteen (15) days after the ShareholdersStockholders’ Representative’s delivery of such notice of objection, then the Shareholders’ Representative and the Purchaser parties shall mutually engage and submit such dispute to, and the same shall be finally resolved in accordance with the provisions of this Agreement by the Chicago office of BDO ▇▇▇▇▇▇▇ or, if such firm declines the representation, a nationally recognized accounting firm of national reputation as shall be mutually agreed on by acceptable to Parent and the ShareholdersStockholders’ Representative and the Purchaser (the accounting firm ultimately chosen, the “Accounting RefereeIndependent Accountants”). The Accounting Referee Independent Accountants shall determine and report in writing to Parent and the ShareholdersStockholders’ Representative and the Purchaser as to the resolution of all disputed matters submitted to the Independent Accountants and the effect of such determinations on the Preliminary Adjustment Statement and the Preliminary Post-Closing Adjustment within thirty twenty (3020) days after such submission or such longer period as the Accounting Referee Independent Accountants may reasonably require, and such determinations shall be final, binding and conclusive on as to Parent and the Parties Stockholders’ Representative and upon which a judgment may be entered by a court of competent jurisdictiontheir respective Affiliates. The fees and disbursements of the Accounting Referee Independent Accountants shall be borne fifty percent (50%) by shared equally between Parent, on the Shareholders one hand, and fifty percent (50%) by Buyerthe Stockholders’ Representative, on the other hand.
Appears in 1 contract
Sources: Merger Agreement (Smucker J M Co)