Common use of Appointment of Appraisers Clause in Contracts

Appointment of Appraisers. The party required or permitted to request an appraisal or other determination under this ARTICLE XXXV shall, within the applicable time period, if any, specified in this Lease, give written notice (an “Appraisal Notice”) to the other party, which Appraisal Notice shall state the requesting party’s desire for an appraisal or other determination under this ARTICLE XXXV, and identify which matters are to be appraised or determined. Within thirty (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the “Final Appraiser” hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the “Final Appraiser”). The two appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 11 contracts

Samples: Master Lease Agreement (Kindred Healthcare, Inc), Master Lease Agreement (Kindred Healthcare, Inc), Guaranty of Lease (Kindred Healthcare, Inc)

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Appointment of Appraisers. The party required or permitted to request an appraisal or other determination under this ARTICLE Article XXXV shall, within the applicable time period, if any, specified in this Lease, give written notice (an “Appraisal Notice”) to the other party, which Appraisal Notice shall state the requesting party’s desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determineddetermined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the “Final Appraiser” hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the “Final Appraiser”). The two appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 2 contracts

Samples: Master Lease Agreement (Kindred Healthcare Inc), Master Lease Agreement (Ventas Inc)

Appointment of Appraisers. The party required or permitted ------------------------- to request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty --------- ----------- (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final Appraiser"). The two --------------- appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization 112 thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Kindred Healthcare Inc)

Appointment of Appraisers. The party required or permitted ------------------------- to request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty (30) days after --------- ----------- receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final ----- Appraiser"). The two appraisers selected by the parties shall, promptly --------- following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Kindred Healthcare Inc)

Appointment of Appraisers. The party required or permitted to -------------------------- request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty (30) --------- ----------- days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final Appraiser"). The two --------------- appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original 111 Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Ventas Inc)

Appointment of Appraisers. The party required or permitted to ------------------------- request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty (30) --------- ----------- days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter --------------- described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final Appraiser"). The two appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original 111 Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Kindred Healthcare Inc)

Appointment of Appraisers. The party required or permitted to request an appraisal or other determination under this ARTICLE Article XXXV shall, within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determineddetermined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final Appraiser"). The two appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization 112 thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Ventas Inc)

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Appointment of Appraisers. The party required or permitted ------------------------- to request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty --------- ----------- (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final Appraiser"). The two --------------- appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Kindred Healthcare Inc)

Appointment of Appraisers. The party required or permitted ------------------------- to request an appraisal or other determination under this ARTICLE Article XXXV shall, ------------ within the applicable time period, if any, specified in this Lease, give written notice (an "Appraisal Notice") to the other party, which Appraisal Notice shall state the requesting party’s 's desire for an appraisal or other determination under this ARTICLE Article XXXV, and identify which matters are to be appraised or determined------------ determined (e.g., Fair Market Rental of the Leased Properties, and creation of an amended Exhibit C hereto, pursuant to Section 3.2 hereof). Within thirty --------- ----------- (30) days after receipt of any such Appraisal Notice by the party to which such Appraisal Notice is directed, each party shall, by written notice to the other party, appoint an appraiser meeting the qualifications set forth below selected by such party to act as appraiser on its behalf. If either party fails so to appoint an appraiser within the aforesaid thirty (30) day period, the appraiser selected by the other party shall act as the "Final Appraiser" hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within ten (10) days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the "Final ----- Appraiser"). The two appraisers selected by the parties shall, promptly --------- following their agreement upon a Final Appraiser, provide written notice of the identity of the aforesaid Final Appraiser to each of Lessor and Tenant. Such appointment shall be binding on the parties. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid ten (10) day period, then either party may request that the American Arbitration Association or any successor organization thereto appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such request, and both parties shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply to any court having jurisdiction to have such appointment made by such court.

Appears in 1 contract

Samples: Master Lease Agreement (Kindred Healthcare Inc)

Appointment of Appraisers. The party required or permitted to request an Tenant shall make demand for appraisal or other determination under this ARTICLE XXXV shall, in writing within the applicable time period, if any, specified in this Lease, give written notice twenty (an “Appraisal Notice”20) to the other party, which Appraisal Notice shall state the requesting party’s desire for an appraisal or other determination under this ARTICLE XXXV, and identify which matters are to be appraised or determined. Within thirty (30) business days after receipt service of any such Appraisal Notice by Landlord’s determination of Fair Rental Value given under Section 2.3 specifying therein the party to which such Appraisal Notice is directed, each party shall, by written notice to name and address of the other party, appoint an appraiser meeting the qualifications set forth below selected by such party person to act as the appraiser on its behalf. If either party fails so to appoint an The appraiser within the aforesaid thirty (30) day period, the shall be a real estate appraiser selected by the other party shall act as the “Final Appraiser” hereinafter described. If both parties appoint an appraiser as aforesaid in a timely manner, within with at least ten (10) years’ experience in the field and a qualified member of the American Institute of Real Estate Appraisers, or any successor of such Institute (or if such organization or successor shall not longer be in existence, a recognized national association or institute of land appraisers) familiar with the fair market rent of first-class commercial office space in Boston, Massachusetts. If Tenant fails to specify the name of its appraiser in its demand for appraisal, then Landlord shall give notice (a “Reminder Notice”) to Tenant indicating such failure and requesting that Tenant appoint an appraiser. If Tenant fails to notify Landlord of the appointment of its appraiser within five (5) business days after such two appraisers are appointed, such two appraisers shall meet and agree upon a third appraiser meeting the qualifications set forth below (herein, the “Final Appraiser”). The two appraisers selected by the parties shall, promptly following their agreement upon a Final Appraiser, provide written notice delivery of the identity Reminder Notice by Landlord, then such failure shall constitute a waiver of the aforesaid Final Appraiser right of Tenant to each of Lessor appoint an appraiser, and Tenant. Such appointment the appraiser appointed by Landlord shall be binding on the partiessole appraiser to determine the Fair Rental Value. If the two appraisers selected by the parties are unable to agree upon a Final Appraiser within the aforesaid Within ten (10) day periodbusiness days after receipt of the name of, or the deemed waiver of, the appointment of Tenant’s appraiser, Landlord shall give notice to Tenant, specifying the name and address of the person designated by Landlord to act as an appraiser on its behalf who shall be similarly qualified. If Landlord fails to notify Tenant of the appointment of its appraiser within said ten (10) business days, then either party may request that Tenant shall send a second notice (a “Reminder Notice”) to Landlord indicating such failure and requesting Landlord to appoint an appraiser. If Landlord fails to notify Tenant of the American Arbitration Association or any successor organization thereto appointment of its appraiser within five (5) business days after the delivery of the Reminder Notice by Tenant, then such failure shall constitute a waiver of the right of Landlord to appoint a Final Appraiser meeting the qualifications set forth below within twenty (20) days of such requestan appraiser, and both parties the appraiser appointed by Tenant shall be bound by any appointment so made within such twenty (20) day period. If no such Final Appraiser shall have been appointed in such manner within such twenty (20) day period or within ninety (90) days after issuance of the original Appraisal Notice, either Lessor or Tenant may apply sole appraiser to any court having jurisdiction to have such appointment made by such courtdetermine the Fair Rental Value.

Appears in 1 contract

Samples: Sublease (Tokai Pharmaceuticals Inc)

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