Procedure for Equitable Abatement Sample Clauses

Procedure for Equitable Abatement. Landlord and Tenant shall use best efforts to reach mutual agreement on any equitable abatement of Base Rent pursuant to ¶¶8.1 or 8.2, as the case may be. If the parties cannot agree within a reasonable period of time, then the same shall be referred to a panel of three (3) arbitrators, one of whom is appointed by each party, and the third appointed by the first two arbitrators. The three (3) arbitrators shall meet within ten (10) days of appointment and then and there determine a fair, equitable abatement of Base Rent. Both parties covenant and agree to be bound by the arbitration decision. Tenant and Landlord shall equally share the cost of the arbitrators.