Third Appraiser Sample Clauses

Third Appraiser. If the Fair Market Rent determined by the brokers is more than three percent (3%) apart, then the two brokers shall pick a third broker within ten (10) days after the two brokers have rendered their opinions of Fair Market Rent as provided above. If the two brokers are unable to agree on the third broker within said ten (10) day period, Landlord and Tenant shall mutually agree on the third broker within ten (10) days thereafter. If the parties do not agree on a third qualified broker within ten (10) days, then at the request of either Landlord or Tenant, such third broker shall be promptly appointed by the then Presiding Judge of the Superior Court of the State of California for the County where the Building is located. The third broker shall be a person who has not previously acted in such capacity for either party and must meet the qualifications stated above.
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Third Appraiser. If the Fair Market Rent determined by the appraisers is more than five percent (5%) apart, then the two appraisers shall pick a third appraiser within ten (10) days after the two appraisers have rendered their opinions of Fair Market Rent as provided above. If the two appraisers are unable to agree on the third appraiser within said ten (10) day period, Landlord and Tenant shall mutually agree on the third appraiser within ten (10) days thereafter and if the parties fail to agree within said time period, then at the request of either Landlord or Tenant, such third appraiser shall be promptly appointed by the then Presiding Judge of the Superior Court of the State of California for the County where the Premises are located.. The third appraiser shall be a person who has not previously acted in any capacity for either party and must meet the qualifications stated above.
Third Appraiser. The third appraiser shall determine whether the parties shall use Landlord's or Tenant's last submitted (on the Outside Agreement Date) fair market determination, and shall notify Landlord and Tenant thereof. The determination of the third appraiser shall be limited solely to the issue of whether Landlord's or Tenant's last submitted (on the Outside Agreement Date) fair market determination is the closest to the actual fair market for such area as solely determined by the third appraiser, taking into account the requirements specified above. The decision of the third appraiser shall be final and binding upon Landlord and Tenant.
Third Appraiser. If the Fair Market Rent determined by the appraisers is more than five percent (5%) apart, then the two appraisers shall pick a third appraiser within ten (10) days after the two appraisers have rendered their opinions of Fair Market Rent as provided above. If the two appraisers are unable to agree on the third appraiser within said ten (10) day period, Landlord and Tenant shall mutually agree on the third appraiser within ten (10) days thereafter. If Landlord and Tenant fail to agree on a third appraiser within such time period, then either party may petition the Presiding Judge of the Superior Court of the County where the Building is located for the appointment of such third appraiser. The third appraiser shall be a person who has not previously acted in any capacity for either party and must meet the qualifications stated above.
Third Appraiser. If the Fair Market Rent determined by the appraisers is more than five percent (5%) apart, then the two appraisers shall pick a third appraiser within ten (10) days after the two appraisers have rendered their opinions of Fair Market Rent as provided above. If the two appraisers are unable to agree on the third appraiser within said ten (10) day period, Landlord and Tenant shall mutually agree on the third appraiser within ten (10) days thereafter. The third appraiser shall be a person who has not previously acted in any capacity for either party and must meet the qualifications stated above.
Third Appraiser. If the parties cannot agree as to the rent payable by Lessee, City and Lessee shall promptly notify their designated appraiser of that fact and the two appraisers shall promptly select a third appraiser meeting the qualifications stated in subparagraph 7.2. If they are unable to agree on the third appraiser, either of the parties, by giving ten (10) business days' notice to the other party may apply to the Presiding Judge or Assistant Presiding Judge of the Superior Court of the County of Los Angeles, or the Presiding Judge of the South District of said Court, who shall select and appoint the third appraiser. Each of the parties shall bear one-half of the cost of appointing the third appraiser and of paying the third appraiser's fee. The third appraiser shall (i) promptly meet and confer with the two appraisers appointed by the parties; (ii) review the reports of the two appraisers and the supporting data and reasons supporting the respective conclusions; (iii) determine the rent payable by Lessee; and (iv) notify the parties of his or her determination within ten (10) business days after his or her appointment; provided however that said determination shall not result in Lessee paying rent in an amount lower than nor higher than the determinations of the two appraisers appointed by the parties.
Third Appraiser. The participating Members agree to pay when due the fees and expenses of the Appraisers in accordance with the foregoing provisions.
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Third Appraiser. The Third Appraiser shall determine the Option Price (fair value) of the Option Shares as quickly as practical, but in any event, not later than ninety (90) days from the date of the appointment of the Third Appraiser. The appraisal of fair value by the Third Appraiser shall not be lower than the lowest valuation made by an Appraiser under Section 4.2, nor higher than the highest valuation made by an Appraiser under Section 4.2. Where such valuation by the Third Appraiser falls beyond the range of the lowest valuation or the highest valuation made during the Determination Period, then the Option Price shall be equal to that value (either the highest or the lowest), which is closest to the Third Appraiser’s valuation. Such value shall be the Option Price, which shall be binding and final on all of the Parties.
Third Appraiser. If the difference between the first appraisal and the second appraisal is more than fifteen percent (15%) of the first appraisal, Investor may choose a third appraiser (not chosen as the first or second appraiser) (x) from the list of appraisers set forth on Schedule B with respect to the appraisal of a Schedule A Asset, or (y) who is nationally recognized as qualified to appraise the asset being appraised, with respect to the appraisal of any asset other than a Schedule,A Asset. Investor promptly shall notify the Partnership as to whether it accepts the second appraisal. If Investor elects to choose a third appraiser, Investor shall instruct such third appraiser to determine the Appraised Value of such Schedule A Asset as of the applicable Appraisal Date and to deliver such third appraisal to the Partnership and Investor within sixty (60) Business Days after the Appraisal Date. The finally determined Appraised Value of such Schedule A Asset shall be the arithmetic average appraised value of the three appraised values determined pursuant to the Appraisal Process. (iv)
Third Appraiser. Each Party agrees to execute, if requested by the Third Appraiser, an engagement letter with the Third Appraiser on terms customary and reasonable for engagements of the nature contemplated by this Article VI. The Parties may, upon mutual agreement, replace the Third Appraiser with a different appraisal firm. If the Third Appraiser decides to resign or is for any reason unable to carry out the appraisal of the Newco Assets in the time and manner contemplated hereby, the Parties agree to use their commercially reasonable efforts to designate a mutually acceptable appraisal firm to replace the Third Appraiser as soon as reasonably practicable after being notified of such resignation or becoming aware of such inability, and if the Parties cannot so agree within ten calendar days of such notice or awareness, then the Parties agree to instruct the Micron Appraiser and Tower Appraiser to jointly select a replacement appraisal firm. Any replacement appraisal firm selected pursuant to this Section 6.6 shall be deemed for all purposes thereafter to be the “Third Appraiser” hereunder.
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