Common use of Resolution of Broker Deadlock Clause in Contracts

Resolution of Broker Deadlock. If the Brokers are unable to agree at least by majority on a determination of annual fair market rental value, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental value, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rent.

Appears in 28 contracts

Samples: Lease Agreement (Upstream Bio, Inc.), Lease Agreement (Upstream Bio, Inc.), Lease (Federal Home Loan Bank of Boston)

AutoNDA by SimpleDocs

Resolution of Broker Deadlock. If the Brokers brokers are unable to agree at least by majority on a determination of annual fair market rental value, then the brokers shall send a notice to Landlord Sublandlord and Tenant Subtenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental value, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rent.

Appears in 3 contracts

Samples: Sublease, Sublease (Momenta Pharmaceuticals Inc), Sublease Agreement (Momenta Pharmaceuticals Inc)

Resolution of Broker Deadlock. If the Brokers are unable to agree at least by majority on a determination of annual fair market rental value, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental value, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rentvalue.

Appears in 3 contracts

Samples: Lease Agreement (Dynatrace Holdings LLC), Lease Agreement (Flexion Therapeutics Inc), Lease Agreement (Flexion Therapeutics Inc)

Resolution of Broker Deadlock. If the Brokers are unable to agree at least by majority on a determination of annual fair market rental valuePrevailing Market Rent, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental valuePrevailing Market Rent, and the broker who submitted neither the highest such determination and nor the lowest such determination shall be disregarded and select either the remaining highest determination shall be deemed to be or the lowest such determination as the most reflective of annual fair market rental value and shall be referred to as the Prevailing Market Rent.Rent for the Premises for

Appears in 1 contract

Samples: Lease Agreement (Brightcove Inc)

Resolution of Broker Deadlock. If the Brokers are unable to agree at least ----------------------------- by majority on a determination of annual fair market rental valuePrevailing Fair Market Rent, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental valuePrevailing Fair Market Rent, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Fair Market Rent.

Appears in 1 contract

Samples: Lease Agreement (Parametric Technology Corp)

AutoNDA by SimpleDocs

Resolution of Broker Deadlock. If the Brokers brokers are unable to agree at least ----------------------------- by majority on a determination of annual fair market rental value, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental value, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rent.

Appears in 1 contract

Samples: Sublease (On Technology Corp)

Resolution of Broker Deadlock. If the Brokers are unable to agree at least ----------------------------- by majority on on Exhibit 10.9 a determination of annual fair market rental value, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental value, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rent.

Appears in 1 contract

Samples: Lease Agreement (Workgroup Technology Corp)

Resolution of Broker Deadlock. If the Brokers are unable to agree at least by majority on a determination of annual fair market rental valuevalue and/or other business terms and conditions, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of annual fair market rental valuedeterminations, and in the case of monetary determinations, the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of annual fair market rental value and shall be referred to as the Prevailing Market Rentmonetary term or provision at issue.

Appears in 1 contract

Samples: Lease Agreement (Netegrity Inc)

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