Arbitration of Market Rent Sample Clauses

Arbitration of Market Rent. If Tenant notifies Landlord of Tenant’s objection to Landlord’s determination of Market Rent and sends a Decision Notice requesting arbitration under the preceding subsection, such Decision Notice shall also set forth a request for arbitration and Tenant’s appointment of an MAI appraiser having at least ten (10) years’ experience in the Class A office and laboratory leasing market in the Seaport District or the Longwood Medical Area of the City of Boston, Massachusetts, and who shall not be affiliated with either Landlord or Tenant and has not worked for either party or its affiliates at any time during the prior five (5) years (an “Arbitrator”). Within five (5) days thereafter, Landlord shall by notice to Tenant appoint a second Arbitrator having such experience. Each Arbitrator shall be advised to determine the Market Rent for the applicable Extension Term within thirty (30) days after Landlord’s appointment of the second Arbitrator. On or before the expiration of such thirty-(30)-day period, the two Arbitrators shall confer to compare their respective determinations of the Market Rent. If the difference between the amounts so determined by the two Arbitrators is less than or equal to ten percent (10%) of the lower of said amounts, then the final determination of the Market Rent shall be equal to the average of said amounts. If such difference between said amounts is greater than ten percent (10%), then the two Arbitrators shall have ten (10) days thereafter to appoint a third Arbitrator (the “Third Arbitrator”), who shall be instructed to determine the Market Rent for the applicable Extension Term within ten (10) days after its appointment by selecting one of the amounts determined by the other two Arbitrators. Each party shall bear the cost of the Arbitrator selected by such party. The cost for the Third Arbitrator, if any, shall be shared equally by Landlord and Tenant. Failure of the Arbitrators, singly or collectively, to complete this process within the time frame set forth (i) shall not terminate the Tenant’s exercise of the applicable Extension Term, or (ii) cause the arbitration process to end; the parties shall thereafter continue to work in good faith to conclude the arbitration process.
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Arbitration of Market Rent. If Tenant notifies Landlord of Tenant’s objection to Landlord’s determination of Market Rent and sends a Decision Notice requesting arbitration under the preceding subsection, such Decision Notice shall also set forth a request for arbitration and Tenant’s appointment of an MAI appraiser having at least ten (10) years’ experience in the Class A office and laboratory leasing market in the Seaport District or the Longwood Medical Area of the City of Boston, Massachusetts, and who shall not be affiliated with either Landlord or Tenant and has not worked for either party or its affiliates at any time during the prior five (5) years (an “Arbitrator”). Within five (5) days thereafter, Landlord shall by notice to Tenant appoint a second Arbitrator having such experience. Each Arbitrator shall be advised to determine the Market Rent for the applicable Extension Term within thirty (30) days after Landlord’s appointment of the second Arbitrator. On or before the expiration of such thirty-(30)-day period, the two Arbitrators shall confer to compare their respective determinations of the Market Rent. If the difference between the amounts so determined by the two Arbitrators is less than or equal to ten percent

Related to Arbitration of Market Rent

  • Expedited Arbitration (a) The parties may meet, to review outstanding grievances filed at arbitration to determine those grievances suitable for this process, and will set dates and locations for hearings of groups of grievances considered suitable for expedited arbitration. (b) All grievances will be considered suitable for and resolved by expedited arbitration except grievances in the nature of: (1) dismissals; (2) rejection on probation; (3) suspensions in excess of 20 workdays; (4) policy grievances; (5) grievances requiring substantial interpretation of a provision of the collective agreement; (6) grievances requiring presentation of extrinsic evidence; (7) grievances where a party intends to raise a preliminary objection;

  • Cost of Arbitration The fees for a single Arbitrator, or a Chairperson of a Board of Arbitration, shall be shared equally by the parties.

  • Level Four - Arbitration If the grievance is not satisfactorily resolved at the Level Three conference, the grievance shall be submitted to an independent Arbitrator if such request is made within ten (10) days of the Level Three conference. The Arbitrator shall be selected by mutual agreement from the following list. Xxxxxxx Xxxxxxx Xxxxxxx XxxXxxxxx Xxxx Xxxxxx Xxxx Xxxxxxx If no arbitrator can be agreed upon, one shall be chosen by a drawing from the same list. After an arbitrator has been utilized, their name will be placed on the bottom of the list. If any of these arbitrators drops from the list for any reason, a replacement shall be negotiated and agreed upon by the Association and the Employer. The hearing shall be conducted by the Arbitrator selected in the manner described above but independently from the American Arbitration Association. a. The duty and responsibility of the Arbitrator is to apply and interpret the express provisions of the agreement and shall not have the authority to add to, subtract from, alter, modify, vary, or ignore the terms of the Agreement or to determine that any provision is unconstitutional or contrary to any federal or state law or regulation, it being expressly agreed that any such determination shall be made by a court of law. b. The Arbitrator shall be requested to render his written decision within thirty (30) calendar days from the conclusion of the hearing or submission of briefs. c. The rules may be amended in writing by the mutual agreement of the parties. d. Either party shall have the right within ten (10) days from the receipt of the decision of the Arbitrator to apply to a court of competent jurisdiction for a rehearing of the claim both as to the facts and the law, provided however, that if application in not made within such time, the decision of the Arbitrator shall be binding.

  • Mediation/Arbitration (a) All disputes, claims or controversies arising out of or relating to this Agreement (collectively, “Disputes”) shall be submitted to non-binding mediation by either party to an impartial mediator, as agreed to by the parties, and appointed through JAMS in San Francisco, California, for a good faith effort at resolution. The mediator shall review the Dispute within thirty (30) days of submission or at such other time provided the parties so agree. Any mediation fee shall be paid equally among the parties. Any Dispute which is not resolved through such mandatory mediation shall be settled by final and binding arbitration before a single neutral arbitrator of JAMS in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association in San Francisco, California. Judgment on the award rendered by the arbitrator may be entered in any court in California. In the event that any Dispute between Indemnitee and the Corporation should result in arbitration, the prevailing party in the Dispute shall be entitled to recover from the other party all reasonable fees, costs and expenses of enforcing any right of the prevailing party, including, without limitation, reasonable attorneys’ fees, experts’ fees, and expenses. Each party agrees that the Dispute as mediated and/or arbitrated and the final resolution of such Dispute shall be considered to be confidential information, and shall be kept confidential by each party. (b) Indemnitee specifically acknowledges and understands that by agreeing to this provision, Indemnitee is waiving all rights to have his or her claims brought, investigated, and/or adjudicated by an administrative agency, or heard before a judge or jury. Indemnitee also understands that Indemnitee’s rights to discovery may be lesser or narrower in arbitration, that there may be fees and costs associated with mediation and/or arbitration that Indemnitee may not otherwise have, and that Indemnitee is waiving substantial time that Indemnitee might otherwise have to make a claim, prepare his or her case, or investigate his or her claims. The claims include claims of any kind relating to Indemnitee’s relationship with the Corporation, including claims relating to compensation, discrimination, any benefits, status as an officer, director or Agent of the Corporation, conflict of interest, or any other claim or dispute relating to or arising out of Indemnitee’s relationship with the Corporation. The underlying Disputes shall be fully and finally resolved through arbitration, including any right to permanent injunctive relief.

  • Expedited Arbitration Procedure The expedited procedure shall be used for either grievances involving Articles exclusively applying to temporary workers or, with the mutual agreement of the Employer and Union, for other grievances. For grievances that do not involve Articles exclusively applying to temporary workers, either the Employer or Union may request in writing that the expedited arbitration procedure be used at the time the Parties are scheduling dates with the arbitrator. (a) The Employer and Union will develop a stipulation of facts and use affidavits and other time-saving methods whenever possible and when mutually agreed upon. (b) Case presentation will be limited to preliminary opening statements, brief recitation of facts, witness presentation and closing oral argument. No post hearing briefs shall be filed or transcripts made. The hearing will be completed within one (1) business day unless otherwise agreed upon by the Parties. (c) The hearing shall be conducted by the arbitrator in whatever manner will most expeditiously permit full presentation of the evidence and arguments of the Parties. (d) The arbitrator may issue, at their discretion, a bench decision at the conclusion of the hearing or may issue a written award no later than seven (7) calendar days from the close of the hearing excluding weekends and holidays. (e) All decisions shall be final and binding on the Employer and Union. An arbitration award will be non-precedential if mutually agreed upon by the Parties before the hearing starts. The arbitrator’s award shall be based on the record and shall include a brief explanation of the basis for the award.

  • Location of Arbitration The arbitration shall take place in Oklahoma City, Oklahoma, and the arbitrator shall issue any award at the place of arbitration. The arbitrator may conduct hearings and meetings at any other place agreeable to the parties or, upon the motion of a party, determined by the arbitrator as necessary to obtain significant testimony or evidence.

  • Step 4 - Arbitration a. If the Union is dissatisfied with the written decision at Step 2 or if the mediation is not successful, within twenty-five (25) days of the Step 2 meeting, the Union may advance the grievance to arbitration. Only the Union (not an individual Bargaining Unit Faculty member) may process a grievance to arbitration. b. Within thirty (30) days of notice of proceeding to arbitration, the Union and the College shall select an impartial third party to be Arbitrator. In the event the parties cannot agree on the selection of an impartial third party, they shall request a list of Arbitrators from Federal Mediation and Conciliation Service. c. Within five (5) days of receipt of the list, the parties shall alternately strike names from the list until one name remains. The person whose name remains shall be the Arbitrator. d. Each party shall bear the expense of preparing and presenting its own case. The costs of the arbitration proceedings, including compensation, fees and expenses of the Arbitrator, and the cost of any hearing transcript, shall be borne equally by the College and the Union. Unless otherwise mutually agreed, each arbitration hearing shall deal with no more than one (1) grievance. e. Subject to the availability of the Arbitrator selected, arbitration shall begin within thirty (30) days unless a delay is agreed upon by both parties. f. The Arbitrator shall have no power to add to, subtract from, modify or disregard any of the provisions of this Agreement. The decision of the Arbitrator shall be final and binding on the parties, although each side retains whatever rights it has under state or federal law to challenge the decision and award. The Arbitrator shall have no jurisdiction or authority to issue any award changing, modifying or restricting any action taken by the College on matters committed to the College’s discretion under Article 23, Management Rights, which are not further abridged by other terms of this Agreement. Jurisdiction shall extend solely to claims of violation of specific written provisions of the Agreement and involve only the interpretation and application of the Agreement.

  • GRIEVANCE AND ARBITRATION 15.01 Either the Employer, the Union or any employee has a right to lodge a grievance with respect to any matter arising out of this Agreement or concerning the interpretation, application or alleged violation of this Agreement. 15.02 Any employee believing that he has been unjustly dealt with or that the provisions of this Agreement have not been complied with, shall have the right to place such grievances in the hands of the Union for review and adjustment by the Employer, if necessary. Such grievances shall be processed as follows: - Between the employee concerned, his Union representative and the Company. The grievance must be filed within eighteen (18) working days after the event giving rise to the grievance occurs and within this period of time it shall be discussed at this Step. The Manager shall give an oral decision within four (4) working days from the date the discussion took place. If the Union wishes to appeal to the next Step, the grievance shall be reduced to writing and the appeal shall be filed with the Store Manger within six (6) working days from the Store Manager's oral decision. Between the employee concerned, the Union representative, the Department Manager, and the Company. The discussion at this Step shall be held within seven (7) working days of the date of the appeal. The decision of the Employer at this Step shall be in writing and be made within four (4) working days of the date of the meeting. Should the Union wish to appeal, such notice of appeal must be in writing to the Company/operator within one (1) week of the decision of the Company at STEP TWO. The grievance shall be forwarded to the Employer, which shall have one (1) week to dispose of the grievance. The disposition shall be in writing and returned to the officers of the Union. If considered necessary by the parties, a meeting may be held by the parties and may include the interested persons. If a meeting is held, the decision shall be given to the other party within seven (7) days from the date of the meeting. 15.03 In the case of a dismissal, a grievance may be filed by an employee who feels he was unjustly dealt with. Such grievance must be filed within five (5) working days from the date of dismissal and shall commence at STEP TWO. In any subsequent disposal of this case during the grievance procedure, the Employer may re-instate the employee with full back pay, suspend the employee for a definite period or sustain the discharge. 15.04 Grievances concerning rates shall be handled in accordance with the above procedure and the disposition of such grievances, if sustained, shall include the determination of the effective date of the increase with retro-activity thereto. 15.05 The Employer and the Union may file grievances commencing at STEP THREE. (a) Failing settlement under the foregoing procedure, such grievance may be submitted to Arbitration, as hereinafter provided; (b) The time limits as prescribed above may be modified by mutual agreement of the parties.

  • Rules of Arbitration The arbitration procedures initiated under this Contract shall operate under the arbitration rules in effect for ICSID or the Additional Facility of the Centre, as the case may be, at the time of the filing of the request for arbitration, which rules are deemed to be incorporated herein by reference in this Clause 25.

  • Final and Binding Arbitration If the grievance has not been resolved at Step 2, either party to this Agreement may refer unsettled grievances to final and binding arbitration.

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