Resolving Disagreement Over Fair Market Rental Value Sample Clauses

Resolving Disagreement Over Fair Market Rental Value. If Subtenant timely and effectively objects to Sublandlord's determination of Fair Market Rental Value under subparagraph 18(c) above, the disagreement shall be resolved under this subparagraph 18(j) as follows: (i) Sublandlord and Subtenant shall diligently attempt in good faith to agree on the Fair Market Rental Value on or before the tenth (10th) business day after Subtenant's objection to the Fair Market Rental Value (hereinafter "Outside Agreement Date"). (ii) If Sublandlord and Subtenant fail to reach agreement on or before the Outside Agreement Date, Sublandlord and Subtenant shall each make a separate determination of the Fair Market Rental Value and notify the other party of the determination within five (5) business days after the Outside Agreement Date. (a) If each party makes a timely determination of the Fair Market Rental Value, those determinations shall be submitted to arbitration in accordance with subparagraph 18(j)(iii). (b) If Sublandlord or Subtenant fails to make a determination of the Fair Market Rental Value within the five (5) business day period, that failure shall be conclusively considered to be that party's approval of the Fair Market Rental Value submitted within the five (5) business day period by the other party. (iii) If both parties make timely individual determinations of the Fair Market Rental Value under subparagraph 18(j)(ii)(a), the Fair Market Rental value shall be determined by arbitration under this subparagraph 18(j)(iii). (a) The determination of the arbitrator(s) shall be limited to the sole issue of whether Sublandlord's or Subtenant's submitted Fair Market Rental Value is the closest to the actual Fair Market Rental Value as determined by the arbitrators, taking into account the requirements of subparagraph 18(i). (b) The arbitrator(s) must be a licensed real estate broker or appraiser who is a member of the American Institute of Real Estate Appraisers who has been active in the leasing or appraising, as the case may be, of commercial office properties comparable to the Building in the greater Meadowlands market over the five (5) year period ending on the date of his/her appointment as arbitrator(s). (c) Within fifteen (15) days after the Outside Agreement Date, Sublandlord and Subtenant shall each appoint one arbitrator and notify the other party of the name and business address of such arbitrator. (d) If each party timely appoints an arbitrator, the two (2) arbitrators shall, within ten (10) days after the a...
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Resolving Disagreement Over Fair Market Rental Value. The determination of Fair Market Rental Value shall be as provided this Section 41.4.
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Resolving Disagreement Over Fair Market Rental Value. If Tenant timely and effectively objects to Landlord’s determination of Fair Market Rental Value under subsections 51.1(b)(iv) or 51.2(b)(iv), the disagreement shall be resolved under this section 51.4.
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Resolving Disagreement Over Fair Market Rental Value. If Lessee timely and effectively objects to Lessor's determination of Fair Market Rental Value under Paragraph 56.3.4, the disagreement shall be resolved under this Paragraph 56.5.
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Resolving Disagreement Over Fair Market Rental Value. If Tenant timely and effectively objects to Landlord's determination of Fair Market Rental Value or to Landlord's determination of the Security Deposit for the Option Term, under subsection 1.6.4 or 3.5.2.4, the disagreement shall be resolved under this section 26.2. For purposes of this Section 26.2, references to "Fair Market Rental Value" shall also refer to the Security Deposit during the Option Period, if the amount of the Security Deposit is disputed.
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Related to Resolving Disagreement Over Fair Market Rental Value

  • Disagreement Any dissension between the parties other than a grievance defined in the agreement and other than a dispute defined in the Labour Code.

  • Expert Determination If a Dispute relates to any aspect of the technology underlying the provision of the Goods and/or Services or otherwise relates to a financial technical or other aspect of a technical nature (as the Parties may agree) and the Dispute has not been resolved by discussion or mediation, then either Party may request (which request will not be unreasonably withheld or delayed) by written notice to the other that the Dispute is referred to an Expert for determination. The Expert shall be appointed by agreement in writing between the Parties, but in the event of a failure to agree within ten (10) Working Days, or if the person appointed is unable or unwilling to act, the Expert shall be appointed on the instructions of the relevant professional body. The Expert shall act on the following basis: he/she shall act as an expert and not as an arbitrator and shall act fairly and impartially; the Expert's determination shall (in the absence of a material failure to follow the agreed procedures) be final and binding on the Parties; the Expert shall decide the procedure to be followed in the determination and shall be requested to make his/her determination within thirty (30) Working Days of his appointment or as soon as reasonably practicable thereafter and the Parties shall assist and provide the documentation that the Expert requires for the purpose of the determination; any amount payable by one Party to another as a result of the Expert's determination shall be due and payable within twenty (20) Working Days of the Expert's determination being notified to the Parties; the process shall be conducted in private and shall be confidential; and the Expert shall determine how and by whom the costs of the determination, including his/her fees and expenses, are to be paid.

  • Disagreement on Decision Should the parties disagree as to the meaning of the Board's decision, either party may apply to the Chairperson of the Arbitration Board to reconvene the Board to clarify the decision, which it shall make every effort to do within seven days.

  • Calculation Disputes If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Settlement Amount or Termination Payment, in whole or in part, the Defaulting Party will, within two Business Days of receipt of Non-Defaulting Party’s calculation, provide to the Non- Defaulting Party a detailed written explanation of the basis for such dispute; provided, however, that the Defaulting Party must first transfer Performance Assurance to the Non-Defaulting Party in an amount equal to the full Settlement Amount or Termination Payment, as applicable. References to Defaulting Party and Non-Defaulting Party in this Section include the Potentially Defaulting Party and Potentially Non-Defaulting Party, as applicable.

  • Resolving Disputes The Company and the customer will use all reasonable endeavours to resolve any dispute between them. If they cannot resolve their dispute between them, they will:- a. Refer the dispute to mediation which will be conducted in accordance with the Resolution Institute New Zealand Standard Mediation Agreement; and b. If mediation is unsuccessful, the matter of dispute shall be referred to a single arbitrator in accordance with the provisions contained in the Arbitration ▇▇▇ ▇▇▇▇ and any amendments. Nothing in this clause will preclude either party from taking immediate steps to seek urgent equitable relief before an appropriate Court.