Common use of Appraisers Clause in Contracts

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Property during the Extension Term.

Appears in 1 contract

Samples: Sanctuary Woods Multimedia Corp

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Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent (including periodic adjustments) for the Extension each Extended Term. If a majority of the appraisers is are unable to set the monthly Base Rent (including periodic adjustments) within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent (including periodic adjustments) for the Property Premises during the Extension each Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen 27 percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises (including periodic adjustments) during the Extension each Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionP.31.c.3), the middle appraisal shall be the monthly Base Rent (including periodic adjustments) for the Property Premises during the Extension each Extended Term.

Appears in 1 contract

Samples: Arena Pharmaceuticals Inc

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Extended Term. If a majority of the appraisers is are unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section(P)32.c.3), the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Extended Term.

Appears in 1 contract

Samples: Biomarin Pharmaceutical Inc

Appraisers. Within thirty (30) ----------------------------------------- days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety-five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety-five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety-five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Tenant Improvements Construction Agreement (Consilium Inc)

Appraisers. Within thirty (30) days after the selection of the a third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers Appraisers is unable to set the monthly Base Rent within the stipulated period of time, LandlordLessor's appraiser shall arrange for a simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low lower appraisal and/or the high higher appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Innovacom Inc

Appraisers. Within thirty (30) days after ---------------------------------------- the selection of the a third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers Appraisers is unable to set the monthly Base Rent within the stipulated period of time, LandlordLessor's appraiser shall arrange for a simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal areand/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low lower appraisal and/or the high higher appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Intertrust Technologies Corp

Appraisers. Within thirty ---------------------------------------- (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Ibeam Broadcasting Corp

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent (including periodic adjustments) for the Extension each Extended Term. If a majority of the appraisers is are unable to set the monthly Base Rent (including periodic adjustments) within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent (including periodic adjustments) for the Property Premises during the Extension each Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises (including periodic adjustments) during the Extension each Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section(P)31.c.3), the middle appraisal shall be the monthly Base Rent (including periodic adjustments) for the Property Premises during the Extension each Extended Term.

Appears in 1 contract

Samples: Medarex Inc

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Initial Base Rent for the Extension Extended Term. If a majority of the appraisers is are unable to set the monthly Initial Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph 31.c.3), the middle appraisal shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term.

Appears in 1 contract

Samples: Infoseek Corp

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser Landxxxx'x xppraiser shall arrange for the simultaneous exchange delivery to Landlord of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Industrial Lease (Protein Design Labs Inc/De)

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Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent for within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Marvell Technology Group LTD

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Initial Base Rent for the Extension Extended Term. If a majority of the appraisers is are unable to set the monthly Initial Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section(P)31 .c.3), the middle appraisal shall be the monthly Initial Base Rent for the Property Premises during the Extension Extended Term.

Appears in 1 contract

Samples: Infoseek Corp

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, LandlordLessor's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining remain two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Lessor and Lessee (Livingston Enterprises Inc)

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Extended Term. If a majority of the appraisers is are unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Property Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionpar30.c.3), the middle appraisal shall be the monthly Base Rent for the Property Premises during the Extension Extended Term.

Appears in 1 contract

Samples: Media Arts Group Inc

Appraisers. Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for simultaneous exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety-five percent (95%) of the resulting quotient shall be the monthly initial Base Rent for the Property Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety-five percent (95%) of the resulting quotient shall be the monthly initial Base Rent for the Property Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety-five percent (95%) of the middle appraisal shall be the monthly initial Base Rent for the Property Premises during the Extension Term.

Appears in 1 contract

Samples: Sub Sublease (Computer Literacy Inc)

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