![]() ![]() Such a person must be accredited or certified as being qualified by the National Association of Corrosion Engineers or be a registered professional engineer who has certification or licensing that includes education and experience in corrosion control of buried or submerged metal piping systems and metal tanks. The Calculation Expert shall submit his determination together with the reasons therefore in writing to the BRPs and Disputed Creditor within 10 days of the date of his appointment, and such determination shall be final and binding on the Company and the Disputed Creditor, save in the event of a manifest error.Ĭorrosion expert means a person who, by reason of thorough knowledge of the physical sciences and the principles of engineering and mathematics acquired by a professional education and related practical experience, is qualified to engage in the practice of corrosion control on buried or submerged metal piping systems and metal tanks. ![]() Set out the arithmetic formula to be used to calculate the Settlement Value, define all components of the formula, identify the circumstances in which the Calculation Expert will calculate the Settlement Value and provide an example of a calculation of Settlement Value using the formula. Since the most recent Commission Filing, there has not been any Purchaser Material Adverse Change. In certain circumstances, the Calculation Expert shall be required to make alternative calculations as it may deem appropriate to determine the Settlement Value of the Warrants. The prospectus must disclose that the Calculation Expert will act as an independent expert and not as an agent for the issuer of the Warrants and that Warrantholders are entitled to rely on calculations and confirmations made by the Calculation Expert, including circumstances in which a dispute arises between the Calculation Expert and the issuer, and that all calculations and confirmations of the Calculation Expert will be available upon request, without charge, at the Canadian head office of the issuer. If a Calculation Expert has been retained as of the date of the receipt for the prospectus, disclosure must be made of any past, present or anticipated relationship between the Calculation Expert and the issuer, notwithstanding the fact that the Calculation Expert is Independent. Should the Disputed Creditor fail to request AFSA to appoint a Calculation Expert, within the three-day period allowed, then the Disputed Creditor shall be deemed to have abandoned its Claim and will not thereafter be entitled to make such a request and will accordingly not, in terms with section 154 of the Companies Act, be able to enforce any Claim that, that creditor believes is owed to it by the Company. The Disputed Creditor will be afforded seven days from the Rejection Date to agree with the BRPs on a Calculation Expert to preside over the dispute, and which expert shall be a senior counsel with no less than 12 years' experience. To the extent that the Calculation Expert, as nominated, refuses to act or is not available to act, the Disputed Creditor must within three days of receiving notice of the Calculation Expert's refusal or unavailability, request AFSA to appoint an alternate Calculation Expert, and which expert shall be a senior counsel with no less than 12 years' experience, until one such Calculation Expert is available, and is agreeable to act. Should the Disputed Creditor and the BRPs be unable to agree on a Calculation Expert, then the matter may, within three days from the expiry of the aforementioned seven-day period, be referred by the Disputed Creditor to AFSA for the appointment of a Calculation Expert, and which expert shall be a senior counsel with no less than 12 years' experience. ![]() Examples of Calculation Expert in a sentence ![]()
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