METHOD OF APPRAISAL Sample Clauses

METHOD OF APPRAISAL. Any appraisal required or permitted by the terms of this Lease shall be conducted in a manner consistent with sound appraisal practice, taking into account each of the income, market and cost appraisal methodologies. Notwithstanding the provisions of Section 25.1, if the difference between the appraisal amounts determined by the appraisers appointed pursuant to Section 25.1 exceeds ten percent of the lesser of such appraisal amounts, then the two appraisers shall have 20 days to appoint a third appraiser. If no such appraiser is appointed within such 20 days or within 90 days of the original request for a determination of Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental (as the case may be), whichever is earlier, either Landlord or Tenant may apply to any court having jurisdiction to have such appointment made by such court. Any appraiser appointed by the original appraisers or by such court shall be instructed to determine the Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental (as the case may be) within 45 days after the appointment of such appraiser. The determination of the three appraisers which differs most in the terms of dollar amount from the determinations of the other two
Sample 1
AutoNDA by SimpleDocs
METHOD OF APPRAISAL. Any appraisal required or permitted by the terms of this Lease shall be conducted in a manner consistent with sound appraisal practice, taking into account market and cost approaches and shall not include the income approach to valuation or the going concern or business enterprise value attributable to factors other than the highest and best use of the Property. Notwithstanding the provisions of Section 25.1, if the difference between the appraisal amounts determined by the appraisers appointed pursuant to Section 25.1 exceeds ten percent of the lesser of such appraisal amounts, then the two appraisers shall have 20 days to appoint a third appraiser. If no such appraiser is appointed within such 20 days or within 90 days of the original request for a determination of Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental (as the case may be), whichever is earlier, either Landlord or Tenant may apply to any court having jurisdiction to have such appointment made by such court. Any appraiser appointed by the original appraisers or by such court shall be instructed to determine the Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental (as the case may be) within 45 days after the appointment of such appraiser. The determination of the three appraisers which differs most in the terms of dollar amount from the determinations of the other two appraisers shall be excluded, and 50% of the sum of the remaining two determinations shall be the appraised value, which a[praised value shall be final and binding upon Landlord and Tenant as the Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental of the Property, as the case may be. If the lowest and highest appraised values are equidistant in amount from the middle appraised value, then such middle appraised value shall be the Fair Market Value, Fair Market Value Purchase Price or Fair Market Rental (as the case may be). The provisions of this Article shall be specifically enforceable to the extent such remedy is available under applicable law, and any determination hereunder shall be final and binding upon the parties except as otherwise provided by applicable law. Landlord and Tenant each shall pay the fees and expenses of the appraiser appointed by it, and each shall pay one-half of the fees and expenses of the third appraiser and one- half of all other costs and expenses incurred in connection with each appraisal.
Sample 1
METHOD OF APPRAISAL. The Appraisal Report shall describe all information analyzed, the appraisal procedures followed, and the reasoning that supports the analysis, opinions and conclusions. All appraisal methods shall be considered and all appropriate appraisal methods shall be applied, however as a minimum, the sales comparison and income approaches to value must be included. If standard approaches to value are not included, the report must contain a discussion of the reason for the exclusions. The Income Capitalization Approach This required valuation approach will include an estimate of market rent and market value of the Premises. Values will be estimated base on the direct capitalization approach or a discounted cash flow methodology. Direct land, building and or total property capitalization rates will be derived from verified comparable sale properties with similar characteristics. Discounted cash flow analyses will contain internal rates of return derived from investor surveys and interviews with buyers of verified comparable sales. Comparables will consist of similar use San Xxxxx Bay properties or industrial zoned properties within a 15 mile radius of the Port of Los Angeles (“POLA-Adjacent Properties”). The Cost Approach This analysis, if applied, will value the improvements as a whole and will set forth the reproduction cost new, including direct costs, indirect costs, and entrepreneurial profit. Indirect costs shall include, but not be limited to, construction interest and costs, long- term financing costs, insurance, taxes, fees, permits architectural and engineering fees, site costs, land holding costs, utility connection fees and an estimate of construction time. A depreciation analysis will estimate total life, remaining economic life, effective age, and total accrued depreciation from all forms. This approach to market and rental value will reconcile total value for the land, improvements and or total property considered as a whole and the individual estimates for each area of appraised classification. When applied to estimate land value and rent, the analysis will abstract the value the land from the value of the total property by deducting the depreciated value of the improvements. The Sales Comparison Approach This required valuation method will include, where relevant, a direct comparison of sales or leases of similar use in San Xxxxx Bay or POLA-Adjacent Properties. These property types may include: office, retail, R & D and industrial properties as well...
Sample 1Sample 2
METHOD OF APPRAISAL. Any appraisal required or permitted by the terms of this Lease shall be conducted in a manner consistent with sound appraisal practice, taking into account each of the income, market and cost appraisal methodologies. Notwithstanding the
Sample 1
METHOD OF APPRAISAL. 59 ARTICLE XXVI
Sample 1
METHOD OF APPRAISAL. If Authority and a majority of the hangar lessees are unable to agree on the Adjusted Base Rent as provided in Paragraph 3.4, then the following procedures will be followed:
Sample 1
METHOD OF APPRAISAL. If Authority and a majority of the hangar lessees are unable to agree on the fair market value for purpose of adjusting the Base Rent for the Premises as provided in Paragraph 3.4, then the following procedures will be followed:
Sample 1
AutoNDA by SimpleDocs

Related to METHOD OF APPRAISAL

  • Method of Calculation The Finance Charge on my account is calculated by multiplying the number of days in the billing period by the daily periodic rate and multiplying the result by the "average daily balance". The "daily periodic rate" is the corresponding Annual Percentage Rate divided by 365. The "average daily balance" is figured by taking the beginning balance each day, adding any new advances, purchases, fees, or adjustments, and subtracting any payments or credits. The result is the daily balance, then all daily balances for the billing period are added together and the result is divided by the number of days in the billing period. To avoid paying Finance Charges on Purchase Transactions, the entire outstanding balance of all Purchase, Cash Advance, and Balance Transfer transactions as of the statement date and any Cash Advance or Balance Transfer transactions posted after the statement date, plus any Finance Charges and fees must be paid in full by the due date or the Finance Charge will be assessed from the date each purchase transaction posted. I cannot avoid Interest Charges on Cash Advance and Balance Transfers. Cash Advance and Balance Transfer transactions accrue interest immediately beginning on the date the transaction posts to the account. When there are different rates for purchase, cash advances, or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each balance. Purchases and Cash Advances. I may use my card to buy goods and services anywhere it is accepted. I may also use my card to borrow cash from you by making cash advances at any financial institution or ATM (Automated Teller Machine) that accepts it. Making Payment. I will be sent a combined statement each month that shows me the new card account balance. I may pay the entire balance owing at any time, or I may pay in monthly installments. My monthly statement will show the minimum payment I must make and the date when you must receive the payment. My payment of the minimum payment due may be applied to what I owe the Credit Union in any manner you choose. If I make a payment in excess of the required minimum payment due, you will allocate the excess amount first to the balance with the highest annual percentage rate "APR" and any remaining portion to the other balances in descending order based on the next highest APR, as of the date you receive my payment unless otherwise prescribed by law. Other Charges. If I request copies of charge slips or statements, you can charge me a per item fee to cover the cost of finding and duplicating them. If I dispute a charge on my account, and after investigation it is found to be my charge, you can charge a fee to cover the cost of the research. The costs for such services is available in the Fee Schedule posted at each branch and you will provide me information regarding the current costs for such services at the time I make my request. My Credit Limit. From time to time, you may adjust my maximum credit limit. I agree to keep the total of purchases and cash advances made on my account within this limit. Exceeding Credit Limit. I understand that any amount charged over my credit limit will be immediately due and payable in addition to my regularly scheduled payment. The amount over limit will be reflected under the "Past Due" field on my statement and will be added to the "Current Payment". The total amount I will be required to pay in that billing cycle will include the amount exceeding the credit limit and all other amounts that would otherwise be due for that billing cycle.

  • Method of Computation To determine the Adviser’s liability with respect to the Excess Amount, each month the Fund Operating Expenses for the Fund shall be annualized as of the last day of the month. If the annualized Fund Operating Expenses for any month exceeds the Operating Expense Limit of the Fund, the Adviser shall first waive or reduce its investment advisory fee for such month by an amount sufficient to reduce the annualized Fund Operating Expenses to an amount no higher than the Operating Expense Limit. If the amount of the waived or reduced investment advisory fee for any such month is insufficient to pay the Excess Amount, the Adviser shall also remit to the Fund an amount that, together with the waived or reduced investment advisory fee, is sufficient to pay such Excess Amount.

  • Method of Liquidation Upon the happening of any of the events specified in Section 10.1 above, which require the Partnership to be liquidated and dissolved, the then General Partner of the Partnership or, in the event there is no remaining General Partner of the Partnership, such persons as may be designated by a majority of the Limited Partners, shall convert the Partnership assets into cash, and shall account for all cash proceeds separately for each Restaurant. All such cash shall be applied and distributed separately for each Restaurant in the following manner and in the following order of priority:

  • Method of Allocation The Employer must specify in its Adoption Agreement the manner of allocating each annual Employer contribution to this Trust.

  • Method of Adjustment Calculation Agent Adjustment; notwithstanding anything in the 2002 Definitions to the contrary, the Calculation Agent may make an adjustment pursuant to Calculation Agent Adjustment to any one or more of the Base Amount, the Forward Price and any other variable relevant to the settlement or payment terms of the Transaction.

  • Method of Subscription It is hereby acknowledged and agreed by the parties hereto that any subscription for Shares shall be made by the Subscriber:

  • Method of Accounting The Company will use the method of accounting previously determined by the Members for financial reporting and tax purposes.

  • Method of Notice All notices shall be given (i) by delivery in person (ii) by a nationally recognized next day courier service, (iii) by first class, registered or certified mail, postage prepaid, (iv) by facsimile, or (v) by electronic mail] to the address of the OETC Contract Administrator or Contractor's Contract Coordinator or such other address as either party may specify in writing.

  • Method of Distribution (a) All distributions with respect to each Class of Certificates on each Distribution Date shall be made pro rata among the outstanding Certificates of such Class, based on the Percentage Interest in such Class represented by each Certificate. Payments to the Certificateholders on each Distribution Date will be made by the Trustee to the Certificateholders of record on the related Record Date by check or money order mailed to a Certificateholder at the address appearing in the Certificate Register, or upon written request by such Certificateholder to the Trustee made not later than the applicable Record Date, by wire transfer to a U.S. depository institution acceptable to the Trustee, or by such other means of payment as such Certificateholder and the Trustee shall agree.

  • Method of Giving Consent Any consent of a member required by this Agreement may be given by a written consent.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!