Common use of Purchase Price Determination Clause in Contracts

Purchase Price Determination. Within 20 days of the date of the exercise of an Involuntary Withdrawal Option, the affected Members shall mutually agree upon a purchase price for the Interest being sold. If the affected Members are unable to mutually agree upon a purchase price, the affected Members shall mutually select a disinterested appraiser nationally recognized as experienced in valuing healthcare businesses including hospitals to evaluate the Business and determine the fair market value of the Company. If the affected Members cannot select an appraiser, then the American Arbitration Association shall be petitioned to designate an appraiser. The cost of the appraisal and any necessary arbitration shall be paid one-half by the Selling Member and one-half by the Purchasing Members. The appraiser shall promptly provide a written notice ("FAIR MARKET VALUE NOTICE") to each affected Member of its determination of the fair market value, which determination shall be binding upon the affected Members. The purchase price for the Interest being acquired pursuant to this Section 8.2 shall then be the product of (i) the fair market value of the Company pursuant to the Fair Market Value Notice multiplied by (ii) the Percentage Share of the Selling Member.

Purchase Price Determination. Within 20 days of the date of the exercise of an Involuntary Withdrawal Option, the affected Members shall mutually agree upon a purchase price for the Interest being sold. If the affected Members are unable to mutually agree upon a purchase price, the affected Members shall mutually select a disinterested appraiser nationally recognized as experienced in valuing healthcare businesses including hospitals to evaluate the Business and determine the fair market value of the Company. If the affected Members cannot select an appraiser, then the American Arbitration Association shall be petitioned to designate an appraiser. The cost of the appraisal and any necessary arbitration shall be paid one-half by the Selling Member and one-half by the Purchasing Members. The appraiser promptly shall promptly provide a written notice ("FAIR MARKET VALUE NOTICE") to each affected Member of its determination of the fair market value, which determination shall be binding upon the affected Members. The purchase price for the Interest being acquired pursuant to this Section 8.2 shall then be the product of (i) the fair market value of the Company pursuant to the Fair Market Value Notice multiplied by (ii) the Percentage Share of the Selling Member.