Common use of Fair Rental Value Adjustment Clause in Contracts

Fair Rental Value Adjustment. The rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the Property, determined in the following manner: a. If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the rent for the Extension shall be determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of Realtors. Each party shall bear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Base Rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyDemised Premises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be he exercised, the rent for the Extension shall be he determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of RealtorsDemised Premises. Each party shall bear hear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Base Rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyDemised Premises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the rent for the Extension shall be he determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of RealtorsDemised Premises. Each party shall bear hear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Base Rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyDemised Premises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the rent for the Extension shall be determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of RealtorsDemised Premises. Each party shall bear hear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Base Rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyDemised Premises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the rent for the Extension shall be determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15fifteen(15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of RealtorsDemised Premises. Each party shall bear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Basic Rent shall be increased Increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyPremises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the basic rent for the Extension shall be determined as follows: Within fifteen ten (1510) days following the exercise of the optionOption, Landlord and Tenant shall endeavor in good faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen ten (1510) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen ten (1510) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period period, the single appraiser appointed shall determine the Fair Rental Value of the PropertyPremises. If Subject to Tenant's obligation under the two appointed appraisers fail to agree on the third appraisersecond subparagraph of paragraph (2) below, he shall be appointed by the then president of the Greater Dallas Board of Realtors. Each each party shall bear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.

Fair Rental Value Adjustment. The rent Base Rent shall be increased on the first day of the particular Extension to the "Fair Rental Value" of the PropertyDemised Premises, determined in the following manner: a. (1) If the Landlord and Tenant have not been able to agree on the Fair Rental Value Adjustment prior to the date the option is required to be exercised, the rent for the Extension shall be determined as follows: Within fifteen (15) days following the exercise of the option, Landlord and Tenant shall endeavor in good god faith to agree upon a single appraiser. If Landlord and Tenant are unable to agree upon a single appraiser within said fifteen (15) day period, each shall then, by written notice to the other, given within ten (10) days after said fifteen (15) day period, appoint one appraiser. The two appraisers appointed by Landlord and Tenant shall be required to be first approved by the then president of the Greater Dallas Board of REALTORS Inc. as qualified to determine rental applicable to the Property. Within ten (10) days after the two appraisers are appointed, they shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period the single appraiser appointed shall determine the Fair Rental Value of the Property. If the two appointed appraisers fail to agree on the third appraiser, he shall be appointed by the then president of the Greater Dallas Board of RealtorsDemised Premises. Each party shall bear hear the cost of the appraiser appointed by it and the parties shall share equally the cost of the third appraiser.