Common use of Determination of Option Rent Clause in Contracts

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent, (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.

Appears in 3 contracts

Samples: Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.)

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Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, within fifteen five (155) business days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 2 contracts

Samples: Office Lease (Jaguar Animal Health, Inc.), Office Lease (Jaguar Animal Health, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best reasonable good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen thirty (1530) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7, below.

Appears in 2 contracts

Samples: Office Lease (Apptio Inc), Office Lease (Apptio Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) days following the Outside Agreement Datedays, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below, provided that Landlord’s determination of Option Rent submitted to arbitration shall not be higher than the Option Rent contained in the Option Rent Notice (when calculated with any concessions to be given on a net effective rental rate basis).

Appears in 2 contracts

Samples: Office Lease (Spinal Elements Holdings, Inc.), Office Lease (Spinal Elements Holdings, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.3.5.1 through 3.2.4.7 2.3.5.7 below.

Appears in 2 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to on the Option Rent, (Rent by the Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.3.1 through 3.2.4.7 2.2.3.7 below.

Appears in 2 contracts

Samples: Office Lease (Health Net Inc), Office Lease (Health Net Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s 's objection to the Option Rent, (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datedays, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 Subparagraphs (i) through 3.2.4.7 (vii) below.

Appears in 2 contracts

Samples: Work Letter Agreement (Simpson Manufacturing Co Inc /Ca/), Office Building Lease (Supergen Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises its option to extend but objects to Landlord’s determination of the Option Rent set forth in concurrently with its exercise of the Option Rent Noticeoption to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith effortsRent. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to delivery of the Option Rent, Notice (the Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.the following:

Appears in 2 contracts

Samples: Office Lease (Intralase Corp), Office Lease (Advanced Medical Optics Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects exercises its option to the Option Rent set forth in the Option Rent Noticeextend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith effortsRent. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to delivery of the Option Rent, Exercise Notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Base Rent, within fifteen ten (1510) business days following after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.3(i) through 3.2.4.7 (viii) below.

Appears in 2 contracts

Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s 's objection to the Option Rent, Rent (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 5.1(d)(i) through 3.2.4.7 5.l(d)(vii), below.

Appears in 1 contract

Samples: Office Lease (Affymetrix Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s 's objection to the Option Rent, (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datedays, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 29.4.1 through 3.2.4.7 29.4.7 below.

Appears in 1 contract

Samples: Lease (E Greetings Network)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s 's objection to the Option Rent, Rent (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent Rent, within fifteen five (155) business days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.

Appears in 1 contract

Samples: Universal Detection Technology

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7, below.

Appears in 1 contract

Samples: Office Lease (TrueCar, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises its option to extend but objects to Landlord’s determination of the Option Rent set forth in concurrently with its exercise of the Option Rent Noticeoption to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith effortsRent. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to delivery of the Option Rent, Notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.3.1 through 3.2.4.7 2.2.3.7 below.

Appears in 1 contract

Samples: Office Lease (Accelrys, Inc.)

Determination of Option Rent. In the event If Tenant timely and appropriately objects to Landlord's determination of the Option Rent set forth in the Option Rent NoticeTenant's Acceptance, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten twenty-one (1021) days following Tenant’s objection to the Option Rent, 's Acceptance (the “"Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement Date, and such determinations which shall be submitted to each other and to arbitration in accordance with Sections 3.2.4.1 the following items (i) through 3.2.4.7 below.(vii):

Appears in 1 contract

Samples: Single Tenant Lease (Biocept Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises its option to extend but objects to Landlord’s determination of the Option Rent set forth in concurrently with its exercise of the Option Rent Noticeoption to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith effortsRent. If Landlord and Tenant fail to reach agreement within ten twenty (1020) days following Tenant’s objection to delivery of the Option Rent, Notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, within fifteen five (155) business days following after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.3(a) through 3.2.4.7 2.2.3(g) below.

Appears in 1 contract

Samples: To Lease (Plumtree Software Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen ten (1510) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 1 contract

Samples: Office Lease (Obagi Medical Products, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s 's objection to the Option Rent, Rent (the "Option Term Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7, below.

Appears in 1 contract

Samples: Office Lease

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten fifteen (1015) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 7.4.1 through 3.2.4.7 7.4.7 below.

Appears in 1 contract

Samples: Office Lease (LoopNet, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Noticeaccordance with Section 5.3 above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best reasonable good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to the date Tenant delivers the Option Rent, Exercise Notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen ten (1510) days following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 5.4.1 through 3.2.4.7 5.4.7, below.

Appears in 1 contract

Samples: Lease Agreement (Sonim Technologies Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of Tenant may give written notice (“Appraisal Notice”) to Landlord that Tenant desires to have the Option Rent within fifteen (15) days following determined by appraisal pursuant to the Outside Agreement Dateprocedures set forth in Sections 3.2.3.1 through 3.2.3.5, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.

Appears in 1 contract

Samples: Office Lease (Oxis International Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice(or First Offer Rent), then Landlord and Tenant shall attempt to agree upon the Option Rent (or First Offer Rent) using their best good-good faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent or First Offer Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent or First Offer Rent within fifteen five (155) business days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 1 contract

Samples: Office Lease (Imperial Capital Group, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s 's objection to the Option Rent, (the “Outside Agreement Date”"OUTSIDE AGREEMENT DATE"), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datedays, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7, below.

Appears in 1 contract

Samples: Lease (Broadcom Corp)

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Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.6 below.

Appears in 1 contract

Samples: Celtron International Inc

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s 's objection to the Option Rent, (the “Outside Agreement Date”"OUTSIDE AGREEMENT DATE"), then each party shall make a separate determination of the Option Rent Rent, as the case may be within fifteen five (155) days following the Outside Agreement Datedays, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 Section 2.2.4.1 through 3.2.4.7 2.2.4.7, below.

Appears in 1 contract

Samples: Office Lease (Gadzoox Networks Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, within fifteen (15) days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 1 contract

Samples: Lease (Neophotonics Corp)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Noticeproposed by Landlord, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 Subparagraphs (i) through 3.2.4.7 (vii) below.

Appears in 1 contract

Samples: Office and Industrial/Commercial Lease (Input Output Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects exercises its option to extend the Option Rent set forth in the Option Rent NoticeLease, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement upon the Option Rent applicable to the Option Term on or before the date that is ninety (90) days prior to the expiration of the initial Lease Term (the "Outside Agreement Date"), then, within ten (10) business days following Tenant’s objection to the Option Rentthereafter, (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement DateRent, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.3.1 through 3.2.4.7 2.2.3.4, below.

Appears in 1 contract

Samples: Lease (Myriad Genetics Inc)

Determination of Option Rent. In the event If Tenant timely and appropriately objects to the Option Rent set forth in the Tenant's Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s objection to the 's Option Rent, Notice (the “"Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement Date, and such determinations which shall be submitted to each other and to arbitration in accordance with Sections 3.2.4.1 the following items (i) through 3.2.4.7 below.(vii):

Appears in 1 contract

Samples: Office Lease (Central Coast Bancorp)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best reasonable, good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s 's timely and appropriate objection to the Option Rent, Rent (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen ten (1510) business days following after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.5.4.1 through 3.2.4.7 2.5.4.7 below.

Appears in 1 contract

Samples: Office Lease (C3.ai, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 Subparagraphs (i) through 3.2.4.7 (vii) below.

Appears in 1 contract

Samples: Commercial Lease (Hei Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen live (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7. below.

Appears in 1 contract

Samples: Office Lease (KAYAK SOFTWARE Corp)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 3.2.3.7 below.

Appears in 1 contract

Samples: Office Lease (Pacific Mercantile Bancorp)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best reasonable, good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty (1030) days following Tenant’s 's timely and appropriate objection to the Option Rent, Rent (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent within fifteen ten (1510) business days following after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.5.1 through 3.2.4.7 2.2.5.7, below.

Appears in 1 contract

Samples: Office Lease (Collectors Universe Inc)

Determination of Option Rent. In the event If Tenant timely and appropriately objects to Landlord’s determination of the Option Rent set forth in the Option Rent NoticeTenant’s Acceptance, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten twenty-one (1021) days following Tenant’s objection to the Option Rent, Acceptance (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen (15) days following the Outside Agreement Date, and such determinations which shall be submitted to each other and to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.the following terms:

Appears in 1 contract

Samples: Lease (Ligand Pharmaceuticals Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s 's objection to the Option Rent, Rent (the "Outside Agreement Date"), then each party shall make a separate determination of the Option Rent Rent, as the case may be, within fifteen five (155) days following the Outside Agreement Datebusiness days, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 1 contract

Samples: Office Lease (Pacific Crest Capital Inc)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 through 3.2.4.7 below.

Appears in 1 contract

Samples: Form Office Lease (Abraxis BioScience, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately objects to the Option Rent set forth in the Option Rent NoticeRent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent, Rent (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent within fifteen five (155) business days following after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.2.4.1 2.2.4.1 through 3.2.4.7 2.2.4.7 below.

Appears in 1 contract

Samples: Office Lease (Wells Real Estate Investment Trust Ii Inc)

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