Common use of Selection of Appraisers Clause in Contracts

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, market area to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days’ notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxx, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 2 contracts

Samples: Lsi Logic Corp, Lsi Logic Corp

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Selection of Appraisers. If Landlord Lessor and Tenant Lessee are unable to agree on the Base Rent for that Extended the Extension Term within the thirty sixty (3060) day period, then within ten (10) business days after the expiration of the thirty sixty (3060) day period period, Lessor and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.Lessee each, Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-years' full time commercial appraisal experience in the Milpitas, California, market geographical area of the Building to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord Lessor or Tenant Lessee does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord Lessor and Tenant Lessee as stated hereinin this paragraph, they shall meet promptly and attempt to set the Base Rent for that Extended during the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this paragraph within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord Lessor or TenantLessee, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord Lessor and Tenant Lessee each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord Lessor or Tenant, or their affiliatesLessee.

Appears in 1 contract

Samples: Lessor and Lessee (Livingston Enterprises Inc)

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Initial Base Rent for that the Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.bParagraph 31.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the Initial Base Rent for that during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Initial Base Rent during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Initial Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Initial Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board of Santa Clarx Xxxnty or to the Presiding Judge of the Superior Court of the County of Santa CxxxxClarx Xxxnty, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.The

Appears in 1 contract

Samples: Infoseek Corp

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Fair Market Rent for that Extended Term within the aforementioned thirty (30) day periodperiod as evidenced by a written amendment to this Lease executed by them, then then, within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market geographical area of the Property or a broker with at least five (5) years' brokerage experience in the geographical area of the Property (each is hereinafter referred to as an "appraiser") to appraise the Fair Market Rental Value of the Premises and set the monthly Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the monthly Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant as stated hereinin this Section, they shall meet promptly and attempt to set the monthly Base Rent for that Extended the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this Section within ten (10) business days after the last day the two (2) appraisers are given to set the monthly Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Property is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Property is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Sanctuary Woods Multimedia Corp

Selection of Appraisers. If Landlord Lessor and Tenant Lessee are unable to agree on the ----------------------- Base Rent for that Extended the Extension Term within the thirty sixty (3060) day period, then within ten (10) business days after the expiration of the thirty sixty (3060) day period period, Lessor and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.Lessee each, Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market geographical area of the Building to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord Lessor or Tenant Lessee does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord Lessor and Tenant Lessee as stated hereinin this paragraph, they shall meet promptly and attempt to set the Base Rent for that Extended during the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this paragraph within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord Lessor or TenantLessee, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord Lessor and Tenant Lessee each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord Lessor or Tenant, or their affiliatesLessee.

Appears in 1 contract

Samples: Intertrust Technologies Corp

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that Extended the Extension Term within the thirty (30) day period, then within ten fifteen (1015) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in area in which the Milpitas, California, market area Premises is located to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant as stated hereinin this section, they shall meet promptly and attempt to set the Base Rent for that Extended the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of Santa Clarx County, or to the Presiding Judge of the Superior Court of the County of Santa CxxxxClarx Xxxnty for, for the selection of a third appraiser who meets the qualifications stated hereinin this section. Landlord and Tenant tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Marvell Technology Group LTD

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that the Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b(P)32.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, Bel Marin Keys area of Novato California market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the Base Rent for that during the Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that the Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended said Extender Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board Board. or to the Presiding Judge of the Superior Court of the County of Santa Cxxxx, in which the Premises are located for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Biomarin Pharmaceutical Inc

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that Extended the Extension Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other partyother, shall appoint a competent and disinterested real estate appraiser with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market geographical area of the Building to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant Txxxxx as stated hereinin this Section, they shall meet promptly and attempt to set the Base Rent for that Extended the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this Section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the a third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other partyother, can apply to the then President president of the Real Estate Board real estate board of Sonoma County, or to the Presiding presiding Judge of the Superior Court of the County of Santa CxxxxSonoma County, for the selection of a the third appraiser who meets the qualifications stated hereinin this Section. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Basic Lease (Northern Empire Bancshares)

Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base amount of the Initial Fair Market Rent for that Extended Term and Average Annual Percentage within the thirty aforementioned fifteen (3015) day periodperiod as evidenced by a written amendment to this Lease executed by them, then then, within ten (10) business days 10)days after the expiration of the thirty fifteen (3015) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each shall each, at its own sole cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with membership in the Appraisal Institute and M.A.I. designation and with at least five (5) years years’ full-time commercial appraisal experience in the Milpitas, California, market area Menlo Park and Palo Alto areas to appraise determine the Initial Fair Market Rental Value of the Premises Rent and set the Base Rent for that Extended TermAverage Annual Percentage. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set determine the Base Initial Fair Market Rent during that Extended Termand Average Annual Percentage. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the in this Section appoint two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointedappraisers, they shall attempt to select a third appraiser meeting the same qualifications stated in this Section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rentdays. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days’ notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Menlo Oaks Corporate Center Lease (E Trade Group Inc)

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b¶29.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, market area to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days’ notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxx, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2½) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Lsi Logic Corp

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for that the Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.bpar30.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the Base Rent for that during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board of Santa Xxxxx County or to the Presiding Judge of the Superior Court of the County of Santa CxxxxXxxxx County, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-one- half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Media Arts Group Inc

Selection of Appraisers. If Landlord Lessor and Tenant Lessee are unable to agree on the Base Rent for that Extended the Extension Term within the thirty sixty (3060) day period, then within ten (10) business days after the expiration of the thirty sixty (3060) day period period, Lessor and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.Lessee each, Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market geographical area of the Building to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord Lessor or Tenant Lessee does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord Lessor and Tenant Lessee as stated hereinin this paragraph, they shall meet promptly and attempt to set the Base Rent for that Extended during the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this paragraph within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord Lessor or TenantLessee, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord Lessor and Tenant Lessee each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord Lessor or Tenant, or their affiliatesLessee.

Appears in 1 contract

Samples: Innovacom Inc

Selection of Appraisers. The party to whom such notice is given shall have fifteen (15) days after the receipt of such notice to designate a second appraiser by written notice to the party who invoked the appraisal procedure. If Landlord and Tenant no second appraiser is so designated, the first appraiser shall act singly hereunder. If two appraisers have been designated in accordance with this Section, the two appraisers shall have fifteen (15) days from the date of the notice designating the second appraiser in which to attempt to agree on a valuation. If the two appraisers are unable to agree on the Base Rent for that Extended Term a valuation within the thirty such fifteen (3015) day period, then they shall have an additional period of fifteen (15) days thereafter to designate a third appraiser by written notice to both parties hereto. If the two appraisers designated by the parties fail to designate a third appraiser within ten the required fifteen (1015) business days after day period, then either party hereto may request that the expiration President of the thirty Washington Board of Realtors or any successor organization designate such third appraiser. If no such third appraiser is selected by said President within fifteen (3015) day period and provided that Tenant has timely exercised days of a written request, the subject renewal option in accordance with ¶ 29.b., Landlord and Tenant each at its own cost and by giving notice to the other party, first two appraisers shall appoint a competent and disinterested real estate appraiser with at least have five (5) years full-time commercial appraisal experience in the Milpitas, California, market area additional days thereafter to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rentappraiser. If they are unable to agree on the first two appraisers still have not selected a third appraiser, either Landlord or Tenant, by giving ten (10) days’ notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxx, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, first two appraisers shall be a person dismissed and the process of selecting appraisers shall be commenced again by the designation of an appraiser by the first party who has not previously acted designated an appraiser in any capacity for either Landlord or Tenant, or their affiliatesaccordance with this Section.

Appears in 1 contract

Samples: Transaction Agreement (Sunrise Assisted Living Inc)

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for that the subject Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.bP.31.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, Silicon Valley market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the Base Rent for that (including periodic adjustments) during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent (including periodic adjustments) during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base RentRent (including periodic adjustments). If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxin which the Premises are located, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2-1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Arena Pharmaceuticals Inc

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Selection of Appraisers. If Landlord and Tenant are unable to ------------------------ agree on the Base Rent for that Extended the Extension Term within the thirty (30) day period, then within ten fifteen (1015) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-full- time commercial appraisal experience in the Milpitas, California, market area Mountain View to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant as stated hereinin this section, they shall meet promptly and attempt to set the Base Rent for that Extended the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of Santa Xxxxx County, or to the Presiding Judge of the Superior Court of the Santa Xxxxx County of Santa Cxxxxfor, for the selection of a third appraiser who meets the qualifications stated hereinin this section. Landlord and Tenant each shall bear one-half (1/2l/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Tenant Improvements Construction Agreement (Consilium Inc)

Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base Fair Market Rent for that Extended Term within the aforementioned thirty (30) day periodperiod as evidenced by a written amendment to the Lease executed by them, then then, within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with membership in the Appraisal Institute and M.A.I. designation and with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market Fremont area to appraise the Fair Market Rental Value of the Premises and set the monthly Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the monthly Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant as Tenaxx xx stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointedin this Section, they shall attempt to select a third appraiser meeting the same qualifications stated in this Section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rentdays. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Buildings are located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Buildings are located, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.the

Appears in 1 contract

Samples: Industrial Lease (Protein Design Labs Inc/De)

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for that the subject Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b(P)31.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-full- time commercial appraisal experience in the Milpitas, California, Silicon Valley market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the Base Rent for that (including periodic adjustments) during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent (including periodic adjustments) during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Base RentRent (including periodic adjustments). If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxin which the Premises are located, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (( 1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Medarex Inc

Selection of Appraisers. If Landlord and Tenant are unable to agree on the the. Initial Base Rent for that the Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b(P)31.b., Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the the. Initial Base Rent for that during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business days, the single appraiser appointed shall be the sole appraiser and shall set the initial Base Rent during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Initial Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (10) business days after the last day the two (2) appraisers are given to set the Initial Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board of Santa Xxxxx County or to the Presiding Judge of the Superior Court of the County of Santa CxxxxXxxxx County, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in In any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Infoseek Corp

Selection of Appraisers. If Landlord and Tenant are unable ----------------------- to agree on the Base Rent for that Extended the Extension Term within the thirty (30) day period, then within ten fifteen (1015) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in area in which the Milpitas, California, market area Premises is located to appraise the Fair Market Rental Value of the Premises and set the Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant as stated hereinin this section, they shall meet promptly and attempt to set the Base Rent for that Extended the Extension Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications stated in this section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of Santa Xxxxx County, or to the Presiding Judge of the Superior Court of the Santa Xxxxx County of Santa Cxxxxfor, for the selection of a third appraiser who meets the qualifications stated hereinin this section. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Ibeam Broadcasting Corp

Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base Fair Market Rent for that Extended Term within the thirty aforementioned fifteen (3015) day periodperiod as evidenced by a written amendment to the Lease executed by them, then then, within ten (10) business days after the expiration of the thirty fifteen (3015) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with membership in the Appraisal Institute and M.A.I. designation and with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market Fremont area to appraise the Fair Market Rental Value of the Premises and set the monthly Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) business daysdays after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the monthly Base Rent during that Extended the Extension Term. If two (2) appraisers are appointed by Landlord and Tenant Xxxxxx as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointedin this Section, they shall attempt to select a third appraiser meeting the same qualifications stated in this Section within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rentdays. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser who meets the qualifications stated hereinin this paragraph. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Industrial Lease (Versicor Inc /Ca)

Selection of Appraisers. If Landlord and Tenant are unable to agree on upon the Base Fair Market Rent for that Extended Term within the thirty aforementioned fifteen (3015) day periodperiod (as evidenced by a written amendment to this Lease), then then, within ten (10) business days after the expiration of the thirty fifteen (3015) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.period, Landlord and Tenant each each, at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser broker licensed in California with at least five (5) years years' full-time commercial appraisal experience in the Milpitas, California, market San Francisco/Brisbane area to appraise determine the Fair Market Rental Value of the Premises and set the monthly Base Rent for that Extended during the Extension Term. If either Landlord or Tenant does not appoint an appraiser a broker meeting the qualifications set forth above within said ten (10) business daysdays after the other party has given notice of the name of its broker, the single appraiser broker appointed shall be the sole appraiser broker and shall set determine the monthly Base Rent during that Extended the Extension Term. If two (2) appraisers brokers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Base Rent for that Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointedin this Paragraph, they shall attempt to select a third appraiser broker meeting the same qualifications stated in this Paragraph within ten (10) business days after the last day the two (2) appraisers are given to set the Base Rentdays. If they are unable to agree on the third appraiserbroker, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President president of the Real Estate Board real estate board of the county in which the Building is located, or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Building is located, for the selection of a third appraiser broker who meets the qualifications stated hereinin this Paragraph. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser broker and of paying the third appraiser’s broker's fee. The third appraiserbroker, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Lease (Intermune Pharmaceuticals Inc)

Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for that the subject Extended Term within the thirty (30) day period, then within ten (10) business days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with ¶ 29.b.as set forth above, Landlord and Tenant each at its own cost and by giving notice to the other party, shall appoint a competent and disinterested real estate appraiser with at least five (5) years full-time commercial appraisal experience in the Milpitas, California, Marin County market area to appraise the Fair Market Rental Value fair market rental value of the Premises and set the initial Base Rent for that during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (1020) business days, the single appraiser appointed shall be the sole appraiser and shall set the Initial Base Rent during that said Extended Term. If two (2) appraisers are appointed by Landlord and Tenant as stated herein, they shall meet promptly and attempt to set the Initial Base Rent for that said Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser meeting the same qualifications within ten (1020) business days after the last day the two (2) appraisers are given to set the Initial Base Rent. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' notice to the other party, can apply to the then President of the Real Estate Board or to the Presiding Judge of the Superior Court of the County of Santa Cxxxxcounty in which the Premises are located, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s 's fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either Landlord or Tenant, or their affiliates.

Appears in 1 contract

Samples: Lease (Biomarin Pharmaceutical Inc)

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