Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for the Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area to appraise the fair market rental value of the Premises and set the Base Rent during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during 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 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) 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 Santa Xxxxx 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 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: Standard Single Tenant NNN Lease (Media Arts Group Inc)
Selection of Appraisers. If Landlord Lessor and Tenant Lessee are unable to agree on the ----------------------- Base Rent for the Extended Extension Term within the thirty sixty (3060) day period, then within ten (10) 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 par30.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 market geographical area of the Building to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord Lessor or Tenant Lessee does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Building is located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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- 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 Lessor or Tenant, or their affiliatesLessee.
Appears in 1 contract
Samples: Standard Industrial/Commercial Multi Tenant Lease (Intertrust Technologies Corp)
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for the Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 Bel Marin Keys area of Novato California market area to appraise the fair market rental value of the Premises and set the Base Rent during said the Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent during said 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 said Extended 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) 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 Board. or to the Presiding Judge of the Superior Court of Santa Xxxxx County, the County 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- 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for the 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 par30.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 Fair Market Rental Value of the Premises and set the Base Rent during said 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 said 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 said 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 of Santa Xxxxx County or to the Presiding Judge of the Superior Court of the County of Santa Xxxxx CountyCxxxx, for the selection of a third appraiser who meets the qualifications stated herein. Landlord and Tenant each shall bear one- one-half (1/2½) 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for the subject Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 Silicon Valley market area to appraise the fair market rental value of the Premises and set the Base Rent (including periodic adjustments) during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent (including periodic adjustments) during 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 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) 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 of Santa Xxxxx County or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe County 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- 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base Fair Market Rent for the 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) 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 par30.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 market Fremont area to appraise the fair market rental value of the Premises and set the monthly Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Building is located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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- 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: Industrial Lease (Versicor Inc /Ca)
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for the Extended Extension Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market geographical area of the Building to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County Sonoma County, or to the Presiding presiding Judge of the Superior Court of Santa Xxxxx Sonoma County, for the selection of a the third appraiser who meets the qualifications stated hereinin this Section. 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 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the the. Initial Base Rent for the Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area to appraise the fair market rental value of the Premises and set the the. Initial Base Rent during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the initial Base Rent during 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 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) 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 Santa Xxxxx 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 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: Standard NNN Lease (Infoseek Corp)
Selection of Appraisers. If Landlord and Tenant are unable ----------------------- to agree on the Base Rent for the Extended Extension Term within the thirty (30) day period, then within ten fifteen (1015) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area Premises is located to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 County, or to the Presiding Judge of the Superior Court of Santa Xxxxx CountyCounty for, for the selection of a third appraiser who meets the qualifications stated hereinin this section. 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 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: Sublease (Ibeam Broadcasting Corp)
Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base amount of the Initial Fair Market Rent for the 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) 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 par30.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 market area Menlo Park and Palo Alto areas to appraise determine the fair market rental value of the Premises Initial Fair Market Rent and set the Base Rent during said Extended TermAverage Annual Percentage. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Building is located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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- 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Initial Base Rent for the Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area to appraise the fair market rental value of the Premises and set the Initial Base Rent during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the Initial Base Rent during 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 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) 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 Clarx Xxxnty or to the Presiding Judge of the Superior Court of Santa Xxxxx CountyClarx Xxxnty, 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 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: Standard NNN Lease (Infoseek Corp)
Selection of Appraisers. If Landlord Lessor and Tenant Lessee are unable to agree on the Base Rent for the Extended Extension Term within the thirty sixty (3060) day period, then within ten (10) 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 par30.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 market geographical area of the Building to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord Lessor or Tenant Lessee does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Building is located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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- 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 Lessor or Tenant, or their affiliatesLessee.
Appears in 1 contract
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for the subject Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 Silicon Valley market area to appraise the fair market rental value of the Premises and set the Base Rent (including periodic adjustments) during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) days, the single appraiser appointed shall be the sole appraiser and shall set the Base Rent (including periodic adjustments) during 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 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) 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 of Santa Xxxxx County or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe County 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- one-half (1/2-1/2) 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent (including any periodic adjustments) for the subject Extended Term within the thirty (30) day period, then within ten (10) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 Marin County market area to appraise the fair market rental value of the Premises and set the initial Base Rent during said Extended Term. If either Landlord or Tenant does not appoint an appraiser within said ten (1020) days, the single appraiser appointed shall be the sole appraiser and shall set the Initial Base Rent during 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 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) 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 Santa Xxxxx Countythe county 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- 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
Selection of Appraisers. If Landlord and Tenant are unable to ------------------------ agree on the Base Rent for the Extended Extension Term within the thirty (30) day period, then within ten fifteen (1015) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area Mountain View to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 County, or to the Presiding Judge of the Superior Court of Santa Xxxxx CountyCounty for, for the selection of a third appraiser who meets the qualifications stated hereinin this section. Landlord and Tenant each shall bear one- one-half (1/2l/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: Lease (Consilium Inc)
Selection of Appraisers. If Landlord and Tenant are unable to agree on as to the Base Fair Market Rent for the 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) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market Fremont area to appraise the fair market rental value of the Premises and set the monthly Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Buildings are located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Fair Market Rent for the 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) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 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 during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Santa Xxxxx County the county in which the Property is located, or to the Presiding Judge of the Superior Court of Santa Xxxxx Countythe county 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- 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
Selection of Appraisers. If Landlord and Tenant are unable to agree on the Base Rent for the Extended Extension Term within the thirty (30) day period, then within ten fifteen (1015) days after the expiration of the thirty (30) day period and provided that Tenant has timely exercised the subject renewal option in accordance with par30.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 market area Premises is located to appraise the fair market rental value of the Premises and set the Base Rent during said Extended the Extension Term. If either Landlord or Tenant does not appoint an appraiser within said ten (10) 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 said 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 said 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) 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 Clarx County, or to the Presiding Judge of the Superior Court of Santa Xxxxx CountyClarx 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- 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