Common use of Appraisers Clause in Contracts

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser shall arrange for the simultaneous delivery to Landlord of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

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

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Initial Base Rent for the Extended Term. If a majority of the appraisers are unable to set the Initial Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Initial Base Rent for the Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Initial Base Rent for the Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section(P)31 .c.3), the middle appraisal shall be the monthly Initial Base Rent for the Premises during the Extension Extended Term.

Appears in 1 contract

Sources: Standard NNN Lease (Infoseek Corp)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the appraisers is unable to set the Base Rent within the stipulated period of time, Lessor's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining remain two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Estoppel Certificate (Livingston Enterprises Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the appraisers is unable to set the Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety-five percent (95%) of the resulting quotient shall be the monthly initial Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety-five percent (95%) of the resulting quotient shall be the monthly initial Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety-five percent (95%) of the middle appraisal shall be the monthly initial Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Sub Sublease (Computer Literacy Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Initial Base Rent for the Extended Term. If a majority of the appraisers are unable to set the Initial Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Initial Base Rent for the Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Initial Base Rent for the Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension TermParagraph 31.c.

Appears in 1 contract

Sources: Standard NNN Lease (Infoseek Corp)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) ----------------------------------------- days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the appraisers is unable to set the Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety-five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety-five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety-five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Lease (Consilium Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the a third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the Appraisers is unable to set the Base Rent within the stipulated period of time, Lessor's appraiser shall arrange for the a simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low lower appraisal and/or the high higher appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Innovacom Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extended Term. If a majority of the appraisers are unable to set the Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section(P)32.c.3), the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Extended Term.

Appears in 1 contract

Sources: Standard NNN Lease (Biomarin Pharmaceutical Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extended Term. If a majority of the appraisers are unable to set the Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Extended Term. If, however, the low appraisal and/or the high appraisal are/is more than ten fifteen percent (1015%) lower and/or higher than the middle appraisal, the such low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Extended Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Termpar30.

Appears in 1 contract

Sources: Standard Single Tenant NNN Lease (Media Arts Group Inc)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the appraisers is unable to set the Base Rent for within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Sublease (Marvell Technology Group LTD)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the monthly Base Rent for the Extension Term. If a majority of the appraisers is unable to set the monthly Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises Property during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises Property during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the monthly Base Rent for the Premises Property during the Extension Term.

Appears in 1 contract

Sources: Lease Agreement (Sanctuary Woods Multimedia Corp)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty (30) days after ---------------------------------------- the selection of the a third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the Appraisers is unable to set the Base Rent within the stipulated period of time, Lessor's appraiser shall arrange for the a simultaneous delivery to Landlord exchange of written appraisals from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal areand/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low lower appraisal and/or the high higher appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this Sectionparagraph, the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Intertrust Technologies Corp)

Appraisers. The Appraisers shall determine the Fair Market Rent by using the "Market Comparison Approach" with the relevant market being buildings located in Ardenwood Corporate Commons, in Fremont, California, of a quality and age and with interior improvements (other than those constructed and paid for by Tenant), parking, site amenities, building systems, location, identity and access all comparable to that of the Premises. Within thirty ---------------------------------------- (30) days after the selection of the third appraiser, Land▇▇▇▇'▇ ▇ppraiser a majority of the appraisers shall set the Base Rent for the Extension Term. If a majority of the appraisers is unable to set the Base Rent within the stipulated period of time, Landlord's appraiser shall arrange for the simultaneous delivery to Landlord exchange of written appraisals of the fair market rental value of the Premises from each of the appraisers and the three (3) appraisals shall be added together and their total divided by three (3); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2); ninety five percent (95%) of the resulting quotient shall be the monthly Base Rent for the Premises during the Extension Term. If both the low appraisal and the high appraisal are disregarded as stated in this SectionParagraph, ninety five percent (95%) of the middle appraisal shall be the monthly Base Rent for the Premises during the Extension Term.

Appears in 1 contract

Sources: Sublease (Ibeam Broadcasting Corp)