Common use of Qualified Appraiser Clause in Contracts

Qualified Appraiser. Qualified Appraiser" means a real estate ------------------- appraiser who (i) is a member of the Appraisal Institute, (ii) is unaffiliated with Owner, Holder, and the third party under the Tendered Agreement, and (iii) has had full-time experience, during each of the immediately preceding five years, in appraising commercial real property in the area of the Real Estate. But if Holder will be purchasing Business Property, the Qualified Appraiser must also have had substantial experience, during the immediately preceding five years, in appraising business assets in the area of the Real Estate. If the Appraisal Institute ceases to exist, a reasonably comparable, nationally recognized organization of real estate appraisers will be substituted in the definition of Qualified Appraiser.

Qualified Appraiser. Qualified Appraiser" means a real estate ------------------- appraiser who (i) is a member of the Appraisal Institute, (ii) is unaffiliated with Owner, Holder, and the third party under the Tendered Agreement, and (iii) has had full-time experience, during each of the immediately preceding five years, in appraising commercial real property in the area of the Real Estate. But if Holder will be purchasing -5- Business Property, the Qualified Appraiser must also have had substantial experience, during the immediately preceding five years, in appraising business assets in the area of the Real Estate. If the Appraisal Institute ceases to exist, a reasonably comparable, nationally recognized organization of real estate appraisers will be substituted in the definition of Qualified Appraiser.

Qualified Appraiser. Qualified Appraiser" means a real estate ------------------- appraiser who (i) is a member of the Appraisal Institute, (ii) is unaffiliated with Owner, Holder, and the third party under the Tendered Agreement, and (iii) has had full-time experience, during each of the immediately preceding five years, in appraising commercial real property in the area of the Real Estate. But if Holder will be purchasing Business Property, ; the Qualified Appraiser must also have had substantial experience, during the immediately preceding five years, in appraising business assets in the area of the Real Estate. If the Appraisal Institute ceases to exist, a reasonably comparable, nationally recognized organization of real estate appraisers will be substituted in the definition of Qualified Appraiser.