Common use of Parties’ Brokers Clause in Contracts

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) day period, then, within seven (7) days after the expiration of such twenty (20) day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) years’ fulltime experience in commercial office leasing in the Boulder, Colorado metropolitan area (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) day period, then within five (5) business days after the expiration of such ten (10) day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) business day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) business day period, then the Parties’ Brokers will have an additional seven (7) days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant.

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) 20 day period, then, within seven (7) days after the expiration of such twenty (20) 20 day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) 10 years’ fulltime full-time experience in commercial office leasing in the Boulder, Colorado metropolitan area East Bay office and industrial market (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) 10 days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) 10 day period, then within five (5) business days after the expiration of such ten (10) 10 day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) business day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) business day period, then the Parties’ Brokers will have an additional seven (7) days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant.

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) 20 day period, then, within seven (7) 7 days after the expiration of such twenty (20) 20 day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) 10 years’ fulltime full-time experience in commercial office retail leasing in the BoulderFranklin, Colorado metropolitan area Tennessee market (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) 10 days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) 10 day period, then within five (5) business days after the expiration of such ten (10) 10 day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) business day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) business day period, then the Parties’ Brokers will have an additional seven (7) days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant.

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) 10 business-day period, then, within seven (7) three business days after the expiration of such twenty (20) 10 business-day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) 10 years’ fulltime full-time experience in commercial office retail leasing in the Bouldernorthwest Austin, Colorado metropolitan Texas market area (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) 10 business days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) 10 business-day period, then within five (5) three business days after the expiration of such ten (10) 10 business-day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) three business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) three-business day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) three-business day period, then the Parties’ Brokers will have an additional seven (7) business days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant.

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) 20 day period, then, within seven (7) five business days after the expiration of such twenty (20) 20 day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) 10 years’ fulltime full-time experience in commercial office and lab/research and development leasing in the BoulderAlameda, Colorado metropolitan California market area (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) 10 days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) 10 day period, then within five (5) business days after the expiration of such ten (10) 10 day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) business day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) business day period, then the Parties’ Brokers will have an additional seven (7) days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant.

Parties’ Brokers. If the parties are unable to agree upon the Market Rental Rate during such twenty (20) 10 day period, then, within seven (7) days after the expiration of such twenty (20) 10-day period, Landlord and Tenant will each appoint their own licensed real estate broker who has at least ten (10) 10 years’ fulltime full-time leasing experience in commercial office leasing in the BoulderEnglewood, Colorado metropolitan area industrial market (the “Parties’ Brokers”). The Parties’ Brokers will negotiate in good faith for ten (10) 10 days after the date that both Parties’ Brokers have been appointed to determine a Market Rental Rate acceptable to both Landlord and Tenant. If the Parties’ Brokers cannot reach agreement on the Market Rental Rate within such ten (10) -day period, then within five (5) business days after the expiration of such ten (10) -day period, Landlord will deliver to Tenant a written determination of the Market Rental Rate as determined by Landlord and its broker using the criteria set forth below (“Landlord’s Determination”). Tenant will have five (5) business days from the date of Landlord’s delivery of Landlord’s Determination to notify Landlord of Tenant’s acceptance of Landlord’s Determination or deliver to Landlord Tenant’s written determination of the Market Rental Rate using the criteria set forth below (“Tenant’s Determination”). If Tenant does not deliver Tenant’s Determination to Landlord within such five (5) business five-day period, Tenant will be deemed to have accepted Landlord’s Determination and the rental rate set forth in Landlord’s Determination will be the Market Rental Rate. If Tenant does deliver Tenant’s Determination within such five (5) business five-day period, then the Parties’ Brokers will have an additional seven (7) days from the date of delivery of Tenant’s Determination to negotiate a Market Rental Rate acceptable to both Landlord and Tenant. Third Broker. If no agreement can be reached as to the Market Rental Rate within such seven-day period, then, within five days after such seven-day period expires, the Parties’ Brokers will appoint a third broker (the “Third Broker”). The Third Broker will be a person who has not previously acted in any capacity for either party and who meets the same experience qualifications as required for the Parties’ Brokers. Within 10 days of his or her appointment, the Third Broker will review Landlord’s Determination and Tenant’s Determination of the Market Rental Rate and such other information as he or she deems necessary and will select either Landlord’s Determination or Tenant’s Determination of the Market Rental Rate (but no other rate) as being more reasonable. The Third Broker will be instructed, in deciding whether Landlord’s Determination or Tenant’s Determination is more reasonable, to use the criteria as to the Market Rental Rate set forth below. The Third Broker will immediately notify the parties of his or her selection of the Landlord’s Determination or the Tenant’s Determination as being more reasonable, and then such selected determination will be the Market Rental Rate. Each of the parties will bear the entire cost of their own broker and 1/2 of the cost of the Third Broker.