Common use of Renegotiation Period Clause in Contracts

Renegotiation Period. Not more than one (1) year nor less than nine (9) months prior to the Renegotiation Date, Lessee shall deliver to County written notice setting forth Lessee’s determination of the Fair Market Rental Value of the Premises for (a) the Annual Minimum Rent, and (b) the Gross Receipts percentage for Percentage Rent. Lessee’s notice shall include a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as Lessee deems relevant or as may be reasonably requested by County. Within one hundred twenty (120) days after receipt of Lessee’s notice, if County disagrees with Lessee’s determination, County shall deliver to Lessee written notice of such disagreement, together with County’s determination of Fair Market Rental Value and a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as County deems relevant or as may be reasonably requested by Lessee, to the extent available to County. If County fails to deliver to Lessee notice of its disagreement within the aforementioned period and such failure continues for fifteen (15) days after receipt of written notice from Lessee, then Lessee’s determination of Fair Market Rental Value shall be binding on County as of the Renegotiation Date; provided, however, that Lessee’s notice to County shall conspicuously state in bold faced type that such determination of Fair Market Rental Value shall be binding on County unless County delivers notice of its disagreement within such fifteen (15) day period. If Lessee fails to deliver the notice described in the first sentence of this subsection, setting forth Lessee’s determination of Fair Market Rental Value, and such failure continues for fifteen (15) days after receipt of written notice from County, then County shall submit its determination of Fair Market Rental Value to Lessee, and Lessee shall have fifteen (15) days after the submittal by County to Lessee of County’s determination of Fair Market Rental Value to deliver to County written notice of Lessee’s agreement or disagreement with County’s determination. If Lessee fails to deliver notice of such disagreement within such fifteen (15) day period and County’s notice to Lessee conspicuously stated in bold faced type that such determination of Fair Market Rental Value shall be binding on Lessee unless Lessee delivers notice of its disagreement within such fifteen (15) day period, then County’s determination of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date.

Renegotiation Period. Not more than one (1) year nor less than nine (9) months prior to the Renegotiation Date, Lessee Concessionaire shall deliver to County written notice setting forth LesseeConcessionaire’s determination of the Fair Market Rental Value of the Premises for (a) the Annual Minimum Rent, and (b) the Gross Receipts percentage for Percentage Rent. LesseeConcessionaire’s notice shall include a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as Lessee Concessionaire deems relevant or as may be reasonably requested by County. Within one hundred twenty (120) days after receipt of LesseeConcessionaire’s notice, if County disagrees with LesseeConcessionaire’s determination, County shall deliver to Lessee Concessionaire written notice of such disagreement, together with County’s determination of Fair Market Rental Value and a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as County deems relevant or as may be reasonably requested by LesseeConcessionaire, to the extent available to County. If County fails to deliver to Lessee Concessionaire notice of its disagreement within the aforementioned period and such failure continues for fifteen (15) days after receipt of written notice from LesseeConcessionaire, then LesseeConcessionaire’s determination of Fair Market Rental Value shall be binding on County as of the Renegotiation Date; provided, however, that LesseeConcessionaire’s notice to County shall conspicuously state in bold faced type that such determination of Fair Market Rental Value shall be binding on County unless County delivers notice of its disagreement within such fifteen (15) day period. If Lessee Concessionaire fails to deliver the notice described in the first sentence of this subsection, setting forth LesseeConcessionaire’s determination of Fair Market Rental Value, and such failure continues for fifteen (15) days after receipt of written notice from County, then County shall submit its determination of Fair Market Rental Value to LesseeConcessionaire, and Lessee Concessionaire shall have fifteen (15) days after the submittal by County to Lessee Concessionaire of County’s determination of Fair Market Rental Value to deliver to County written notice of LesseeConcessionaire’s agreement or disagreement with County’s determination. If Lessee Concessionaire fails to deliver notice of such disagreement within such fifteen (15) day period and County’s notice to Lessee Concessionaire conspicuously stated in bold faced type that such determination of Fair Market Rental Value shall be binding on Lessee Concessionaire unless Lessee Concessionaire delivers notice of its disagreement within such fifteen (15) day period, then County’s determination of Fair Market Rental Value shall be binding on Lessee Concessionaire as of the Renegotiation Date.

Renegotiation Period. Not more than one (1) year nor less than nine (9) months prior to the each Renegotiation Date, Lessee shall deliver to County written notice (“Lessee’s Determination Notice”) setting forth Lessee’s determination of the Percentage Rent component of the Fair Market Rental Value of the Premises for each of the Percentage Rent categories set forth in clauses (a) through (s1) of Subsection 4.2.2 which constitute Permitted Uses at such time (with any remaining category percentages to be subsequently calculated, if necessary, in accordance with the grammatical paragraph immediately preceding Subsection 4.2.2.1 of this Lease), expressed in terms of a percentage for each such Percentage Rent category. In addition, in the case of the First Renegotiation Date, Xxxxxx’s Determination Notice shall also include Xxxxxx’s determination of the Annual Minimum Rent, and (b) Rent component of the Gross Receipts percentage Fair Market Rental Value of the Premises for Percentage Rentthe First Renegotiation Date. Lessee’s notice Determination Notice shall include be accompanied by a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determinationdeterminations, together with such other information regarding such comparable properties or the Premises as Lessee deems relevant or as may be reasonably requested by County. Within one hundred twenty (120) days after receipt of Lessee’s noticeDetermination Notice, if County disagrees with Lessee’s determinationdeterminations, County shall deliver to Lessee written notice of such disagreement, together with County’s determination determinations of any disputed components of the Fair Market Rental Value and a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determinationdeterminations, together with such other information regarding such comparable properties or the Premises as County deems relevant or as may be reasonably requested by LesseeXxxxxx, to the extent available to County. If County fails to deliver to Lessee notice of its disagreement within the aforementioned period and such failure continues for fifteen thirty (1530) days after receipt of a subsequent written notice from Lessee, then Lessee’s determination determinations of Fair Market Rental Value set forth in Lessee’s Determination Notice shall be binding on County as of the Renegotiation DateDate (subject to the minimum Annual Minimum Rent (if applicable) and Percentage Rent provisions set forth in this Section 4.4); provided, however, that LesseeXxxxxx’s subsequent written notice to County shall conspicuously state in bold faced type that such determination determinations of Fair Market Rental Value shall be binding on County unless County delivers notice of its disagreement within such fifteen thirty (1530) day period. If Lessee fails to deliver the notice described Xxxxxx’s Determination Notice in the first sentence of compliance with this subsection, setting forth Lessee’s determination of Fair Market Rental Value, Subsection 4.4.4 and such failure continues for fifteen thirty (1530) days after receipt of written notice from County, then County shall submit its determination determinations of Fair Market Rental Value to Lessee, and Lessee shall have fifteen thirty (1530) days after the submittal by County to Lessee of County’s determination determinations of Fair Market Rental Value to deliver to County written notice of Lessee’s agreement or disagreement with County’s determinationdeterminations. If Lessee fails to deliver notice of such disagreement within such fifteen thirty (1530) day period period, and such failure continues for ten (10) days after receipt of a subsequent written notice from County, then County’s determinations of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date; provided, however, that County’s subsequent notice to Lessee shall conspicuously stated state in bold faced type that such determination determinations of Fair Market Rental Value shall be binding on Lessee unless Lessee delivers notice of its disagreement within such fifteen ten (1510) day period, then County’s determination of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date.

Renegotiation Period. Not more than one (1) year nor less than nine (9) months prior to the each Renegotiation Date, Lessee shall deliver to County written notice (“Lessee’s Determination Notice”) setting forth Lessee’s determination of the Percentage Rent component of the Fair Market Rental Value of the Premises for each of the Percentage Rent categories set forth in clauses (a) through (s1) of Subsection 4.2.2 which constitute Permitted Uses at such time (with any remaining category percentages to be subsequently calculated, if necessary, in accordance with the grammatical paragraph immediately preceding Subsection 4.2.2.1 of this Lease), expressed in terms of a percentage for each such Percentage Rent category. In addition, in the case of the First Renegotiation Date, Lessee’s Determination Notice shall also include Lessee’s determination of the Annual Minimum Rent, and (b) Rent component of the Gross Receipts percentage Fair Market Rental Value of the Premises for Percentage Rentthe First Renegotiation Date. Lessee’s notice Determination Notice shall include be accompanied by a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determinationdeterminations, together with such other information regarding such comparable properties or the Premises as Lessee deems relevant or as may be reasonably requested by County. Within one hundred twenty (120) days after receipt of Lessee’s noticeDetermination Notice, if County disagrees with Lessee’s determinationdeterminations, County shall deliver to Lessee written notice of such disagreement, together with County’s determination determinations of any disputed components of the Fair Market Rental Value and a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determinationdeterminations, together with such other information regarding such comparable properties or the Premises as County deems relevant or as may be reasonably requested by Lessee, to the extent available to County. If County fails to deliver to Lessee notice of its disagreement within the aforementioned period and such failure continues for fifteen thirty (1530) days after receipt of a subsequent written notice from Lessee, then Lessee’s determination determinations of Fair Market Rental Value set forth in Lessee’s Determination Notice shall be binding on County as of the Renegotiation DateDate (subject to the minimum Annual Minimum Rent (if applicable) and Percentage Rent provisions set forth in this Section 4.4); provided, however, that Lessee’s subsequent written notice to County shall conspicuously state in bold faced type that such determination determinations of Fair Market Rental Value shall be binding on County unless County delivers notice of its disagreement within such fifteen thirty (1530) day period. If Lessee fails to deliver the notice described in the first sentence of this subsection, setting forth Lessee’s determination of Fair Market Rental Value, Determination Notice in compliance with this Subsection 4.4.4 and such failure continues for fifteen thirty (1530) days after receipt of written notice from County, then County shall submit its determination determinations of Fair Market Rental Value to Lessee, and Lessee shall have fifteen thirty (1530) days after the submittal by County to Lessee of County’s determination determinations of Fair Market Rental Value to deliver to County written notice of Lessee’s agreement or disagreement with County’s determinationdeterminations. If Lessee fails to deliver notice of such disagreement within such fifteen thirty (1530) day period period, and such failure continues for ten (10) days after receipt of a subsequent written notice from County, then County’s determinations of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date; provided, however, that County’s subsequent notice to Lessee shall conspicuously stated state in bold faced type that such determination determinations of Fair Market Rental Value shall be binding on Lessee unless Lessee delivers notice of its disagreement within such fifteen ten (1510) day period, then County’s determination of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date.

Renegotiation Period. Not more than one (1) year nor less than nine (9) months prior to the Renegotiation Date, Lessee shall deliver to County written notice setting forth Lessee’s determination of the Fair Market Rental Value of the Premises for (a) the Annual Minimum Rent, and (b) the Gross Receipts percentage for Percentage Rent. Lessee’s notice shall include a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as Lessee deems relevant or as may be reasonably requested by County. Within one hundred twenty (120) days after receipt of LesseeXxxxxx’s notice, if County disagrees with LesseeXxxxxx’s determination, County shall deliver to Lessee written notice of such disagreement, together with County’s determination of Fair Market Rental Value and a list of comparable properties and/or complete copies of any appraisals which it has utilized in its determination, together with such other information regarding such comparable properties or the Premises as County deems relevant or as may be reasonably requested by Lessee, to the extent available to County. If County fails to deliver to Lessee notice of its disagreement within the aforementioned period and such failure continues for fifteen (15) days after receipt of written notice from LesseeXxxxxx, then LesseeXxxxxx’s determination of Fair Market Rental Value shall be binding on County as of the Renegotiation Date; provided, however, that LesseeXxxxxx’s notice to County shall conspicuously state in bold faced type that such determination of Fair Market Rental Value shall be binding on County unless County delivers notice of its disagreement within such fifteen (15) day period. If Lessee fails to deliver the notice described in the first sentence of this subsection, setting forth Lessee’s determination of Fair Market Rental Value, and such failure continues for fifteen (15) days after receipt of written notice from County, then County shall submit its determination of Fair Market Rental Value to Lessee, and Lessee shall have fifteen (15) days after the submittal by County to Lessee of County’s determination of Fair Market Rental Value to deliver to County written notice of LesseeXxxxxx’s agreement or disagreement with County’s determination. If Lessee Xxxxxx fails to deliver notice of such disagreement within such fifteen (15) day period and County’s notice to Lessee conspicuously stated in bold faced type that such determination of Fair Market Rental Value shall be binding on Lessee unless Lessee delivers notice of its disagreement within such fifteen (15) day period, then County’s determination of Fair Market Rental Value shall be binding on Lessee as of the Renegotiation Date.