Estimated value. The phrase “estimated value” shall mean an estimate obtained from a M.A.I. appraiser, who has at least five (5) years experience evaluating property located in ▇▇▇▇▇▇ County, Texas similar in nature and function to that of the Property, selected jointly by Seller and Purchaser, and the phrase “estimated cost of repair” shall mean an estimate obtained from an independent contractor selected jointly by Seller and Purchaser. The other necessary determinations in Sections 9.1 and 9.2 shall also be determined by qualified professionals so jointly selected by Purchaser and Seller. Such determinations shall be made as soon as reasonably practicable following the taking or casualty, but in any event within sixty (60) days following the taking or casualty.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Tetra Technologies Inc)