Determination of Basic Rent Sample Clauses

Determination of Basic Rent. (a) Each determination of Basic Rent for the purposes of sections 1.3 and 2.1(d), (e) and (f) shall be made, to the extent not inconsistent with this section, in accordance with the rules from time to time in effect of the American Arbitration Association or, if the American Arbitration Association shall have ceased to function as an arbitration association, of a successor or comparable organization (the "Rules"). There shall be three arbitrators: one designated by Lessor; one designated by Lessee; and one designated in the manner hereinafter described. Each arbitrator shall, as of the date of his designation, be a real estate broker licensed in the State of New York doing business in the Borough of Manhattan and having at least 15 years experience in first-class Manhattan office building leases. Lessor shall, by notice ("Lessor's Designation Notice") to Lessee given not later than the applicable date indicated below, designate the name and address of its arbitrator. 9