Three Broker Method definition

Three Broker Method means three Broker Method as defined in Section 2.5(d).
Sample 1Sample 2
Three Broker Method shall operate as follows: The FMR shall be based upon one hundred percent (100%) of the current fair market rental rate for renewals of comparable, space, in comparable office buildings in the Mountain View, California area, taking into, account appropriate allowances and, concessions, which shall be determined by a board of three (3) licensed real estate brokers, one of whom shall be named by Lessor, one by Lessee, and the two so appointed shall select a third broker. Each member of the board shall be licensed in California as a real estate broker, specializing in the field of commercial office leasing in the Mountain View area of California having no less than ten (10) years’ experience in such field and recognized as, ethical and reputable within the field. Lessor and Lessee agree to make their appointments within five (5) days after Lessor and Lessee are unable to agree upon the FMR. The two (2) brokers selected by Lessor, and Lessee shall select the third broker within ten (10) days after they both have been appointed, and each broker within ten (10) days after the third broker is elected shall submit his or her determination of the FMR. The FMR shall be the determination of the broker that is not the highest or the lowest. (or, if two brokers reach an identical determination, the, determination of such two brokers). Lessor and Lessee shall each pay the fee of the brokers selected by it, and they shall equally share payment of the fee of the third broker.
Sample 1Sample 2
Three Broker Method shall operate as follows: The FMR shall be based upon the current fair market rental rate expressed in terms of rent per square of rentable area of the Premises for comparable space in comparable buildings in the Reston, Virginia area, (taking into account concessions which are being offered in the marketplace for renewals) which shall be determined by a board of three (3) licensed real estate brokers, one of whom shall be named by Landlord, one by Tenant, and the two so appointed shall select a third broker. Each member of the board of brokers shall be licensed in Virginia as a real estate broker, specializing in the field of commercial office leasing in the Reston area of Virginia, having no less than ten (10) years' experience in such field, and recognized as ethical and reputable within the field. Landlord and Tenant agree to make their appointments promptly after Landlord and Tenant are unable to agree upon the FMR. The two (2) brokers selected by Landlord and Tenant shall Select the third broker within ten (10) days after they both have been appointed, and each broker, within fifteen (15) days after the third broker is elected, shall submit his or her determination of the FMR. The FMR shall be the determination of the broker that is not the highest or the lowest (or, if two brokers reach an identical determination, the determination of such two brokers). Landlord and Tenant shall each pay the fee of the broker selected by it, and they shall equally share the payment of the fee of the third broker. The FMR shall be the Base Rent with respect to the Premises during the first year of the Renewal Term and shall thereafter escalate during the remainder of the Renewal Term at three percent (3%) per annum over the prior year's Base Rent.
Sample 1

Examples of Three Broker Method in a sentence

  • In the event of a disagreement between the parties as to prevailing market rate, such rate will be resolved by arbitration using the "Three Broker Method" as utilized in connection with Tenant's renewal option.

  • In the event that Landlord and Tenant cannot agree on terms however Tenant still elects to lease such space, then the parties shall then proceed to arbitration based on the Three Broker Method.

  • Landlord and Tenant agree that the fair market rental rate applicable under clause (ii)(B), above shall (1) include both base rental and Additional Rent, and (2) shall be determined under the Renewal Parameters as defined herein, and using either the Three Broker Method substantially as described in Section 51 of this Lease, or by a court of competent jurisdiction, as Landlord may elect in its sole discretion.

  • Tenant acknowledges that election of the Three Broker Method shall irrevocably bind Tenant to lease the Additional Space.

  • Recent work shows that the leading loads model can be deployed on real hardware by using performance counters available on modern processors [39].

  • For a Stub Period of more than two years, if the parties have not executed a Lease amendment reflecting the economic terms for the Non-Expansion Space by the later of (i) 30 days after delivery of the Acceptance Notice, or (ii) 6 months prior to the expiration of the 10th Lease Year, then the Current Market Rent shall be determined pursuant to the Three Broker Method.

  • If Tenant elects to lease the Option Space with the Current Market Rent to be determined by the Three Broker Method, then the rent for such Option Space shall be determined in accordance with the following procedure (the “Three-Broker Method”): Landlord and Tenant shall each appoint one real estate broker, and the two brokers so appointed shall select a third broker.

  • If Tenant does not deliver the Building 3 Expansion Withdrawal Notice prior to the expiration of the aforesaid 45-day period without execution of such a Lease amendment, then the aforesaid Building 3 Expansion Notice shall become irrevocable and Current Market Rent shall be determined pursuant to the Three Broker Method.

  • The FMR shall be determined by Landlord and Tenant by mutual agreement; however, if Landlord and Tenant cannot agree in writing on the FMR within thirty (30) days after Tenant’s notice of its election to extend, the FMR shall be determined by the Three Broker Method set forth below.

  • If Tenant does not deliver the First Offer Right Withdrawal Notice prior to the expiration of the aforesaid 45-day period without execution of such a Lease amendment, then the aforesaid Acceptance Notice shall become irrevocable and Current Market Rent shall be determined pursuant to the Three Broker Method.


More Definitions of Three Broker Method

Three Broker Method shall operate as follows: FMR shall be based upon the current fair market rental rate for comparable space in comparable buildings in the Boston area, which shall be determined by a board of three (3) licensed real estate brokers, one of whom shall be named by Landlord, one by Tenant, and the two so appointed shall select a third broker. Each member of the board of brokers shall be licensed in the state in which the Premises is located as a real estate broker, specializing in the field of commercial office leasing in the Boston area, having no less than ten (10) years' experience in such field, and recognized as ethical and reputable within the field. Landlord and Tenant agree to make their appointments promptly within five (5) business days after Landlord receives Tenant's Election Notice. The two (2) brokers selected by Landlord and Tenant shall select the third broker within ten (10) days after they both have been appointed, and each broker, within fifteen (15) days after the third broker is elected, shall submit his or her determination of the FMR. The FMR shall be the average of the two (2) closest determinations made by the three (3) brokers (except if two brokers reach an identical determination, then the FMR shall be the determination of such two brokers, and if the middle determination is equal to the average of the highest and lowest determination, the middle determination shall constitute the FMR). Landlord and Tenant shall each pay the fee of the broker selected by it, and they shall equally share the payment of the fee of the third broker.
Sample 1
Three Broker Method shall operate as follows: The Prevailing Market Rate shall be based upon the current fair market rental rate for comparable space in comparable buildings in the Atlanta, GA "perimeter" area, (taking into account concessions which are being offered in the marketplace) which shall be determined by a board of three (3) licensed real estate brokers, one of whom shall be named by Landlord, one by Tenant, and the two so appointed shall select a third broker. Each member of the board of brokers shall be licensed in Georgia as a real estate broker, specializing in the field of commercial office leasing in the Atlanta, Georgia area, having no less than ten (10) years' experience in such field, and recognized as ethical and reputable within the field. Landlord and Tenant agree to make their appointments within five (5) days after Landlord and Tenant are unable to agree upon the Prevailing Market Rate. The two (2) brokers selected by Landlord and Tenant shall select the third broker within ten (10) days after they both have been appointed, and each broker, within fifteen (15) days after the third broker is elected, shall submit his or her determination of the Prevailing Market Rate. The Prevailing Market Rate shall be the determination of the broker that is not the highest or the lowest (or, if two brokers reach an identical determination, the determination of such two brokers). Landlord and Tenant shall each pay the fee of the broker selected by it, and they shall equally share the payment of the fee of the third broker.
Sample 1
Three Broker Method means each party appoints its own broker. If the two (2) representatives can agree on the market rate for the Annual Rental, that figure will be binding on the parties. If not, the two (2) will agree on a third, impartial broker, who then either makes an independent determination of the market rate that is binding on the Parties, or some calculation is done to average two (2) or all three (3) of the brokers’ proposed Annual Rental rates.
Sample 1
Three Broker Method shall operate as follows: The FMR shall be determined by a board of three (3) licensed real estate brokers, one of whom shall be named by Landlord, one by Tenant, and the two so appointed shall select a third broker. Each member of the board of brokers shall be licensed in the State of Georgia as a real estate broker, specializing in the field of commercial office leasing in the metropolitan area of Atlanta, Georgia, having no less than ten (10) years’ experience in such field, and recognized as ethical and reputable within the field. Landlord and Tenant agree to make their appointments promptly after Landlord and Tenant are unable to agree upon the FMR. The two (2) brokers selected by Landlord and Tenant shall select the third broker within ten (10) days after they both have been appointed, and each broker, within fifteen (15) days after the third broker is elected, shall submit his or her determination of the FMR. The FMR shall be the average of the two (2) closest determinations of the FMR. Landlord and Tenant shall each pay the fee of the broker selected by it, and they shall equally share the payment of the fee of the third broker.
Sample 1

Related to Three Broker Method

  • Data Broker means either of the following:

  • Designated Broker means the financial services firm or other agent designated by the Company to maintain ESPP Share Accounts on behalf of Participants who have purchased shares of Common Stock under the Plan.

  • Prime Broker means a Person that acts as credit counterparty for transactions executed on the SEF in the name and on behalf of such Person by its client or an agent of its client that is a BSEF Participant and that has authorized a Participant to send RFQs, place Orders or enter into Trades in the name and on behalf of such Person.

  • Designated Broker Agreement means an agreement between the Manager, on behalf of the ETFs, and a Designated Broker;

  • Associate broker means a licensed broker who is employed by

  • Participating Broker- Dealer: See Section 2(b) hereof. Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated association, union, business association, firm or other legal entity. Private Exchange: See Section 2(b) hereof.

  • Sponsoring Broker means a Participant other than a DMA Customer that allows its designated Customers to access the SEF Platform using the Participant ID of the Participant and (i) with respect to Cleared Swaps, is a Clearing Member; and (ii) with respect to Non-Cleared Swaps, is (x) an FCM or Introducing Broker; or (y) non-U.S. Person acting in a similar capacity that is not required to register as an FCM or Introducing Broker under the Act and that is appropriately licensed in a jurisdiction where its DMA Customer is located.

  • Approved Broker means any of the companies listed on Schedule 7 or such other company proposed by the Borrowers which the Agent may, with the consent of the Majority Lenders (such consent not to be unreasonably withheld), approve from time to time for the purpose of valuing a Ship, who shall act as an expert and not as arbitrator and whose valuation shall be conclusive and binding on all parties to this Agreement;

  • Principal broker means a broker who is either a real estate proprietor, a partner in a real estate partnership, or an officer in a real estate corporation.

  • Participating Broker-Dealers shall have the meaning set forth in Section 4(a) hereof.

  • Approved Brokers means such firm of insurance brokers, appointed by the Charterer during the Charter Period, as may from time to time be approved in writing by the Mortgagee for the purposes of this Deed;

  • Seller’s Broker means CB Xxxxxxx Xxxxx.

  • Mortgage broker means any person who for compensation or

  • inter-dealer bond broker means a person or company that is approved by the Investment Industry Regulatory Organization of Canada under its Rule No. 36 Inter-Dealer Bond Brokerage Systems, as amended, and is subject to its Rule No. 36 and its Rule 2100 Inter-Dealer Bond Brokerage Systems, as amended from time to time;

  • Authorized Broker means those Brokers which are authorized to deal in Government Securities.

  • Introducing Broker means a third party who introduces prospective Clients to the Company.

  • Broker means any person engaged in the business of effecting transactions in securities for the account of others.

  • Real estate brokerage activity means any activity that involves offering or providing real estate brokerage services to the public, including:

  • Pawnbroker means the same as that term is defined in Section 13-32a-102.

  • Morgan Stanley Broker means a broker-dealer affiliated with Morgan Stanley.

  • Participating Dentist means any Dentist who, at the time of rendering a Covered Dental Service to the Member, has a written agreement with CareFirst BlueChoice or the Dental Plan for the rendering of such service.

  • Tenant’s Broker means the individual or corporate broker identified on the Basic Lease Information sheet as the broker for Tenant.

  • insurance broker means an insurance brokerage firm,

  • Real estate broker means an individual or business entity that, with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses of, lists or offers or attempts to list, or negotiates the purchase, sale, or exchange of real estate; that negotiates the mortgage of real estate; that negotiates for the construction of a building on real estate; that leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; that engages in property management as a whole or partial vocation; that sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or that, as owner or otherwise, engages in the sale of real estate as a principal vocation.

  • Loan broker means any person who, for compensation or gain, or in the expectation

  • Participating Broker-Dealer shall have the meaning set forth in Section 3(t) hereof.