Common use of Baseball Arbitration Clause in Contracts

Baseball Arbitration. For all purposes of this Lease, Baseball Arbitration shall follow the following procedures: (a) Within 20 days after the deadline for Landlord and Tenant to present their respective Final Offers, Tenant and Landlord shall each select an arbitrator (“Tenant’s Arbitrator” and “Landlord’s Arbitrator”, respectively) who shall be a qualified and impartial person licensed in the State of California as an MAI appraiser with at least five (5) years of experience in appraising the type of matters for which they are called on to appraise hereunder in the Silicon Valley market area. (b) Landlord’s Arbitrator and Tenant’s Arbitrator shall name a third arbitrator, similarly qualified, within 10 days after the appointment of Landlord’s Arbitrator and Tenant’s Arbitrator. (c) Said third arbitrator shall, after due consideration of the factors to be taken into account under the definition of Market Rate set forth in Section 25.2 and hearing whatever evidence the arbitrator deems appropriate from Landlord, Tenant and others, and obtaining any other information the arbitrator deems necessary, in good faith, make its own determination of the Market Rate for the Premises as of the commencement of the Renewal Term (the “Arbitrator’s Initial Determination”) and thereafter select either Landlord’s Final Offer or the Tenant’s Final Offer, but no other, whichever is closest to the Arbitrator’s Initial Determination (the “Final Determination”), such determination to be made within 30 days after the appointment of the third arbitrator. The Arbitrator’s Initial Determination, Final Determination and the market information upon which such determinations are based shall be in writing and counterparts thereof shall be delivered to Landlord and Tenant within said 30-day period. The arbitrator shall have no right or ability to determine the Market Rate in any other manner. The Final Determination shall be binding upon the parties hereto. Within 10 days after the delivery of the Final Determination to Landlord and Tenant, Landlord and Tenant shall execute an amendment to the Lease amending the Lease to provide for the extension of the Term for the Renewal Term, and the Renewal Rent and any other terms set forth in Final Determination to improve the Premises or provide any improvement allowance as contemplated in Section 25.1(b). (d) The costs and fees of the third arbitrator shall be paid by Landlord if the Final Determination shall be Tenant’s Final Offer or by Tenant if the Final Determination shall be Landlord’s Final Offer. (e) If Tenant fails to appoint Tenant’s Arbitrator in the manner and within the time specified in Section 25.4, then the Market Rate for the Renewal Term shall be the Market Rate contained in the Landlord’s Final Offer. If Landlord fails to appoint Landlord’s Arbitrator in the manner and within the time specified in Section 25.4 then the Market Rate for the Renewal Term shall be the Market Rate contained in the Tenant’s Final Offer. If Tenant’s Arbitrator and Landlord’s Arbitrator fail to appoint the third arbitrator within the time and in the manner prescribed in Section 25.4, then Landlord and Tenant shall jointly and promptly apply to the local office of the American Arbitration Association for the appointment of the third arbitrator.

Baseball Arbitration. For all purposes of this Lease, Baseball Arbitration shall follow the following procedures: (a) Within 20 twenty (20) days after the deadline for Landlord Lessor’s receipt of Lessee’s Notice of Exercise, Lessee and Tenant to present their respective Final Offers, Tenant and Landlord Lessor shall each select an arbitrator (“TenantLessee’s Arbitrator” and “LandlordLessor’s Arbitrator”, respectively) who shall be a qualified and impartial person licensed in the State of California Nevada as an MAI appraiser with at least five (5) years of experience in appraising the type of matters for which they are called on to appraise hereunder in the Silicon Valley market areaEast Sparks Market Area of Sparks, Nevada. (b) LandlordLessor’s Arbitrator and TenantLessee’s Arbitrator shall name a third arbitrator, similarly qualified, within 10 ten (10) days after the appointment of LandlordLessor’s Arbitrator and TenantLessee’s Arbitrator. (c) Said third arbitrator shall, after due consideration of the factors to be taken into account under the definition of Market Rate set forth in Section 25.2 7.3 and hearing whatever evidence the arbitrator deems appropriate from LandlordLessor, Tenant Lessee and others, and obtaining any other information the arbitrator deems necessary, in good faith, make its own determination of the Market Rate for the Premises as of the commencement of the Renewal Fourth Renewed Term (the “Arbitrator’s Initial Determination”) and thereafter select either LandlordLessor’s Final Offer or the TenantLessee’s Final Offer, but no other, whichever is closest to the Arbitrator’s Initial Determination (the “Final Determination”), such determination to be made within 30 thirty (30) days after the appointment of the third arbitrator. The Arbitrator’s Initial Determination, Final Determination and the market information upon which such determinations are based shall be in writing and counterparts thereof shall be delivered to Landlord Lessor and Tenant Lessee within said thirty (30-) day period. The arbitrator shall have no right or ability to determine the Market Rate in any other manner. The Final Determination shall be binding upon the parties hereto. Within 10 days after the delivery of the Final Determination to Landlord and Tenant, Landlord and Tenant shall execute an amendment to the Lease amending the Lease to provide for the extension of the Term for the Renewal Term, and the Renewal Rent and any other terms set forth in Final Determination to improve the Premises or provide any improvement allowance as contemplated in Section 25.1(b). (d) The costs and fees of the third arbitrator shall be paid by Landlord Lessor if the Final Determination shall be TenantLessee’s Final Offer or by Tenant Lessee if the Final Determination shall be LandlordLessor’s Final Offer. (e) If Tenant Lessee fails to appoint TenantLessee’s Arbitrator in the manner and within the time specified in Section 25.47.4, then the Market Rate for the Renewal Fourth Renewed Term shall be the Market Rate contained in the LandlordLessor’s Final Offer. If Landlord Lessor fails to appoint LandlordLessor’s Arbitrator in the manner and within the time specified in Section 25.4 7.4, then the Market Rate for the Renewal Fourth Renewed Term shall be the Market Rate contained in the TenantLessee’s Final Offer. If TenantLessee’s Arbitrator and LandlordLessor’s Arbitrator fail to appoint the third arbitrator within the time and in the manner prescribed in Section 25.4, 7.4 then Landlord Lessor and Tenant Lessee shall jointly and promptly apply to the local office of the American Arbitration Association for the appointment of the third arbitrator.

Baseball Arbitration. For all purposes of this Lease, Baseball Arbitration shall follow the following procedures: (ai) Within 20 twenty (20) days after the deadline for Landlord and Tenant to present their respective Final OffersLandlord’s receipt of Tenant’s Notice of Exercise, Tenant and Landlord shall each select an arbitrator (“Tenant’s Arbitrator” and “Landlord’s Arbitrator”, respectively) who shall be a qualified and impartial person licensed in the State of California as an MAI appraiser with at least five (5) years of experience in appraising the type of matters for which they are called on to appraise hereunder in the Silicon Valley market areaManhattan Beach/EI Segundo Area. (bii) Landlord’s Arbitrator and Tenant’s Arbitrator shall name a third arbitrator, similarly qualified, within 10 ten (10) days after the appointment of Landlord’s Arbitrator and Tenant’s Arbitrator. (ciii) Said third arbitrator shall, after due consideration of the factors to be taken into account under the definition of Market Rate set forth in Section 25.2 27.2 and hearing whatever evidence the arbitrator deems appropriate from Landlord, Tenant and others, and obtaining any other information the arbitrator deems necessary, in good faith, make its own determination of the Market Rate for the Premises as of the commencement of the applicable First Renewal Term or Second Renewal Term for a term equal to the duration of the applicable First Renewal Term or Second Renewal Term (the “Arbitrator’s Initial Determination”) and thereafter select either Landlord’s Final Offer or the Tenant’s Final Offer, but no other, whichever is closest to the Arbitrator’s Initial Determination (the “Final Determination”), such determination to be made within 30 thirty (30) days after the appointment of the third arbitrator. The Arbitrator’s Initial Determination, Final Determination and the market information upon which such determinations are based shall be in writing and counterparts thereof shall be delivered to Landlord and Tenant within said thirty (30-) day period. The arbitrator shall have no right or ability to determine the Market Rate in any other manner. The Final Determination shall be binding upon the parties hereto. Within 10 days after the delivery of the Final Determination to Landlord and Tenant, Landlord and Tenant shall execute an amendment to the Lease amending the Lease to provide for the extension of the Term for the Renewal Term, and the Renewal Rent and any other terms set forth in Final Determination to improve the Premises or provide any improvement allowance as contemplated in Section 25.1(b). (div) The costs and fees of the third arbitrator shall be paid by Landlord if the Final Determination shall be Tenant’s Final Offer or by Tenant if the Final Determination shall be Landlord’s Final Offer. (ev) If Tenant fails to appoint Tenant’s Arbitrator in the manner and within the time specified in Section 25.427.4, then the Market Rate for the applicable First Renewal Term or Second Renewal Term shall be the Market Rate contained in the Landlord’s Final Offer. If Landlord fails to appoint Landlord’s Arbitrator in the manner and within the time specified in Section 25.4 27.4 then the Market Rate for the applicable First Renewal Term or Second Renewal Term shall be the Market Rate contained in the Tenant’s Final Offer. If Tenant’s Arbitrator and Landlord’s Arbitrator fail to appoint the third arbitrator within the time and in the manner prescribed in Section 25.4, then Landlord and Tenant shall jointly and promptly apply to the local office of the American Arbitration Association for the appointment of the third arbitrator.in

Baseball Arbitration. For all purposes of this Lease, Baseball Arbitration shall follow the following procedures: (a) Within 20 twenty (20) days after the deadline for Landlord and Tenant to present their respective Final Offersdisagree on the value of the Premises, Tenant and Landlord shall each select an arbitrator (“Tenant’s Arbitrator” and “Landlord’s Arbitrator”, respectively) who shall be a qualified and impartial person licensed in the State of California Florida as an a MAI appraiser (“Appraiser”) with at least five (5) years of experience in appraising the type of matters for which they are called on to appraise hereunder in the Silicon Valley market area.area where the Premises are located (b) Landlord’s Arbitrator and Tenant’s Arbitrator shall name a third arbitrator, similarly qualified, within 10 ten (10) days after the appointment of Landlord’s Arbitrator and Tenant’s Arbitrator. (c) Said third arbitrator shall, after due consideration of the factors to be taken into account under the definition prevailing market rate for base rent for tenants of Market Rate set forth comparable quality for lease extensions in Section 25.2 property of comparable size, age, use, location and quality in the area where the Premises are located, taking into consideration the extent of the availability of such property as large as the Premises in the marketplace and all other economic terms then customarily prevailing in such similar ground leases in said marketplace, and hearing whatever evidence the arbitrator deems appropriate from the Appraiser, Landlord, Tenant Tenant, Landlord’s Arbitrator and others, Tenant’s Arbitrator and others and obtaining any other information the arbitrator deems necessary, in good faith, make its own determination of the Market Rate fair market rental and/or value, as applicable for the Premises as of the commencement of the applicable Renewal Term (the “Arbitrator’s Initial Determination”Term(s) and thereafter select either Landlord’s Final Offer or the Tenant’s Final Offer, but no other, whichever is closest to the Arbitrator’s Initial Determination within (the “Final Determination”), such determination to be made within 30 30) days after the appointment of the third arbitrator, determine the fair market rent and/or value, as applicable for the Premises. The Arbitratorthird arbitrator’s Initial Determination, Final Determination and the market information upon which such determinations are based determination shall be in writing and counterparts thereof shall be delivered to Landlord and Tenant within said thirty (30-) day period. The arbitrator shall have no right or ability to determine the Market Rate fair market rent and/or value in any other manner. The Final Determination third arbitrator’s determination shall be binding upon the parties hereto. Within 10 days after the delivery of the Final Determination to Landlord and Tenant, Landlord and Tenant shall execute an amendment to the Lease amending the Lease to provide for the extension of the Term for the Renewal Term, and the Renewal Rent and any other terms set forth in Final Determination to improve the Premises or provide any improvement allowance as contemplated in Section 25.1(b). (d) The costs and fees of the third arbitrator shall be paid equally by Landlord if the Final Determination shall be Tenant’s Final Offer or by Tenant if the Final Determination shall be Landlord’s Final Offer. (e) If Tenant fails to appoint Tenant’s Arbitrator in the manner and within the time specified in Section 25.4, then the Market Rate for the Renewal Term shall be the Market Rate contained in the Landlord’s Final Offer. If Landlord fails to appoint Landlord’s Arbitrator in the manner and within the time specified in Section 25.4 then the Market Rate for the Renewal Term shall be the Market Rate contained in the Tenant’s Final Offer. If Tenant’s Arbitrator and Landlord’s Arbitrator fail to appoint the third arbitrator within the time and in the manner prescribed in Section 25.4, then both Landlord and Tenant shall jointly and promptly apply to the local office of the American Arbitration Association for the appointment of the third arbitratorTenant.