Parties’ Separate Determinations Clause Samples
The 'Parties’ Separate Determinations' clause establishes that each party to an agreement is responsible for making its own independent decisions regarding the contract or transaction. In practice, this means that neither party is relying on the other for advice, recommendations, or assurances, and each must assess the risks and benefits based on its own judgment and due diligence. This clause serves to clarify that both parties act autonomously, thereby reducing the risk of future disputes over alleged reliance or misrepresentation.
Parties’ Separate Determinations. If Landlord and Tenant fail to reach agreement on or before the Outside Agreement Date, Landlord and Tenant shall each make a separate determination of the Fair Market Rental Value and notify the other party of this determination within five (5) days after the Outside Agreement Date.
Parties’ Separate Determinations. If Landlord and Tenant fail to reach agreement on or before the Outside Agreement Date and Tenant elects or deems to have elected to have the Fair Market Rental Value determined by arbitration, Landlord and Tenant shall each make a separate determination of the Fair Market Rental Value and notify the other party of this determination within five (5) days after the date Tenant elects or is deemed to have elected to have the Fair Market Rental Value determined by arbitration.
Parties’ Separate Determinations. If Landlord and Tenant fail to reach agreement on or before the date that is ten (10) business days following Tenant’s objection to the Option Rent for the applicable Extension Period (the “Outside Agreement Date”), then Landlord and Tenant shall each make a separate determination of the Fair Market Rental Value and notify the other party of this determination within ten (10) days after the Outside Agreement Date.