MAI Appraiser. With respect to any real property, a member of the American Institute of Real Estate Appraisers with a minimum of 5 years of experience appraising real property of a type similar to the real property being appraised and located in the same geographical area as the real property being appraised.
MAI Appraiser means an appraiser licensed or otherwise qualified to do business in the state(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof and is certified as a member of the American Institute of Real Estate Appraisers or certified as a SRPA by the Society of Real Estate Appraisers, or, if such organizations no longer exist or certify appraisers, such successor organization or such other organization as is approved by Landlord.
MAI Appraiser means an appraiser licensed or otherwise qualified to do business in the state(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof and is certified as a member of the American Institute of Real Estate Appraisers or certified as a SRPA by the Society of Real Estate Appraisers, or, if such organizations no longer exist or certify appraisers, such successor organization or such other organization as is approved by Landlord. THIS INSTRUMENT PREPARED BY AND RETURN TO: Xxxxxxx X. Xxxxxxxx, Xx., Esq. Baker, Donelson, Bearman, Xxxxxxxx & Xxxxxxxxx, P.C. 1800 Republic Centre 000 Xxxxxxxx Xxxxxx Xxxxxxxxxxx Xxxxxxxxx 00000 THIS AGREEMENT is made as of the ____ day of _____________, 2015, between ____________________ Property Holdings, LLC, a Georgia limited liability company having an address at Two Buckhead Plaza, 0000 Xxxxxxxxx Xxxx XX, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000 (“Prime Landlord”) and Highlands of _________________, LLC, a Delaware limited liability company having an address at 0 Xxxxxx Xxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000-0000 _________________________ (“Tenant”).
Examples of MAI Appraiser in a sentence
Each party shall pay half the fees and expenses of the third MAI Appraiser selected by the respective MAI Appraisers selected by each of the parties.
Tenant shall pay the fees and expenses of any MAI Appraiser retained pursuant to this Exhibit.
Unless an appraisal prepared by an MAI Appraiser who is Independent in accordance with the provisions of 12 C.F.R.
Unless an appraisal prepared by an MAI Appraiser who is Independent in accordance with the provisions of 12 C.F.R. 225.65 shall have been obtained in connection with the acquisition of such REO Property, promptly following any acquisition by the Purchaser (through the Servicer) of an REO Property, the Servicer shall obtain a narrative appraisal thereof (at the expense of the Purchaser) in order to determine the fair market value of such REO Property.
Landlord shall pay the fees and expenses of any MAI Appraiser it retains pursuant to this Exhibit.
More Definitions of MAI Appraiser
MAI Appraiser means an appraiser licensed or otherwise qualified to do business in the state(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof and is certified as a member of the American Institute of Real Estate Appraisers or certified as a SRPA by the Society of Real Estate Appraisers, or, if such organizations no longer exist or certify appraisers, such successor organization or such other organization as is approved by Landlord. EXHIBIT D PERMITTED EXCEPTIONS
MAI Appraiser means an appraiser licensed or otherwise qualified to do business in the state(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof and holds the Appraisal Institute’s MAI designation, or, if such organization no longer exists or certifies appraisers, such successor organization or such other organization as is reasonably agreed upon by Lessee and Lessor. Monthly financial reports concerning the Business at the Facilities consisting of: (1)a reasonably detailed income statement showing, among other things, gross revenues; (2)total patient days; (3)occupancy; and (4)payor mix. (All via e-mail to _______________________) Thirty (30) days after the end of each calendar month Quarterly consolidated or combined financial statements of Lessee(via e-mail to xxxxxxxxxx@xxxxxxxxxxxx.xxx) Thirty (30) days after the end of each of the first three quarters of the fiscal year of Lessee and such Guarantor Annual consolidated or combined financial statements of Lessee audited by a reputable certified public accounting firm (via e-mail to xxxxxxxxxx@xxxxxxxxxxxx.xxx) Ninety (90) days after the fiscal year end of Lessee and such Guarantor Regulatory reports with respect to the Facilities, as follows: (1)all federal, state and local licensing and reimbursement certification surveys, inspection and other reports received by Lessee as to any portion of the Premises and any portion of the Business, including state department of health licensing surveys;(2)Medicare and Medicaid certification surveys; and (3)life safety code reports. Five (5) business days after receipt Reports of regulatory violations,by written notice of the following:(1)any violation of any federal, state or local licensing or reimbursement certification statute or regulation, including Medicare or Medicaid;(2)any suspension, termination or restriction placed upon Lessee or any portion of the Premises, the operation of any portion of the Business or the ability to admit residents or patients; or (3)any violation of any other permit, approval or certification in connection with any portion of the Premises or any portion of the Business, by any federal, state or local authority, including Medicare or Medicaid. Two(2) business days after receipt Cost Reports Fifteen (15) days after filing
MAI Appraiser means a member of the American Institute of Real Estate Appraisers.
MAI Appraiser means an appraiser licensed or otherwise qualified to do business in the state(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof and holds the Appraisal Institute’s MAI designation, or, if such organization no longer exists or certifies appraisers, such successor organization or such other organization as is reasonably agreed upon by Sublessee and Sublessor. HNZW/493109_4.doc/3583-95 (Greenfield) HNZW/493109_4.doc/3583-95 (Greenfield) 28 Monthly financial reports concerning the Business at the Facility consisting of: (1) a reasonably detailed income statement showing, among other things, gross revenues; (2) total patient days; (3) occupancy; and (4) payor mix. (All via e-mail to _______________________) Thirty (30) days after the end of each calendar month Quarterly consolidated or combined financial statements of Sublessee and any Guarantor(via e-mail to xxxxxxxxxx@xxxxxxxxxxxx.xxx) Thirty (30) days after the end of each of the first three quarters of the fiscal year of Sublessee and such Guarantor Annual consolidated or combined financial statements of Sublessee and any Guarantor audited by a reputable certified public accounting firm (via e-mail to xxxxxxxxxx@xxxxxxxxxxxx.xxx) Ninety (90) days after the fiscal year end of Sublessee and such Guarantor Regulatory reports with respect to the Facility, as follows: (1) all federal, state and local licensing and reimbursement certification surveys, inspection and other reports received by Sublessee as to any portion of the Premises and any portion of the Business, including state department of health licensing surveys; (2) Medicare and Medicaid certification surveys; and (3) life safety code reports. Five (5) business days after receipt Reports of regulatory violations, by written notice of the following: (1) any violation of any federal, state or local licensing or reimbursement certification statute or regulation, including Medicare or Medicaid; (2) any suspension, termination or restriction placed upon Sublessee or any portion of the Premises, the operation of any portion of the Business or the ability to admit residents or patients; or (3) any violation of any other permit, approval or certification in connection with any portion of the Premises or any portion of the Business, by any federal, state or local authority, including Medicare or Medicaid. Two(2) business ...
MAI Appraiser means an individual who holds an MAI designation conferred by, and is an independent member of, the American Appraisal Institute (or its successor organization, or in the event there is no successor organization, the organization and designation most similar) and who is not affiliated with Landlord or Tenant. Upon selection, Landlord’s and Tenant’s appraisers shall work together in good faith to agree upon which of the two Estimates more closely reflects the Fair Market Rental Rate for the Premises for the Extension Period. The Estimate chosen by such appraisers shall be binding on both Landlord and Tenant as the Base Rent rate for the Extension Period. If either Landlord or Tenant fails to appoint an appraiser within the fifteen (15) day period referred to above, then the appraiser appointed by the other party shall be the sole appraiser for the purposes hereof. If the two appraisers cannot agree upon which of the two Estimates most closely reflects the Fair Market Rental Rate within twenty (20) days after their appointment; then, within ten (10) days after the expiration of such twenty (20) day period, the two (2) appraisers shall select a third appraiser meeting the aforementioned criteria (or, if such two appraisers are unable to select a third appraiser, such selection shall be made by the President of the local chapter of the American Appraisal Institute [or its successor organization]). Once the third appraiser has been selected as provided for above, then, as soon thereafter as practicable, but in any case within fourteen (14) days, the third appraiser shall make its determination of which of the two Estimates more closely reflects the Fair Market Rental Rate for the Premises for the Extension Period and such appraiser shall not select anything other than one of the two Estimates from Landlord and Tenant and the Estimate so selected by the third appraiser shall be binding on both Landlord and Tenant as the Fair Market Rental Rate for the Premises for the Extension Period. The party whose Estimate is not selected as the Fair Market Rental Rate shall pay the costs of the third appraiser and of any experts retained by the third appraiser. Any fees of any appraiser, counsel or experts engaged directly by Landlord or Tenant, however, shall be borne by the party retaining such appraiser, counsel or expert.
MAI Appraiser. As defined in Exhibit C.
MAI Appraiser means a Member Appraisal Institute designated and Indiana State certified real estate appraiser with at least ten (10) combined years of experience in office, recreational, or medical office leasing valuations in the Indianapolis metropolitan market. The fees of the third MAI Appraiser, if applicable, shall be shared equally by Landlord and Tenant. The fees of each party's respective MAI Appraiser, if applicable, shall be borne by that party.