Three Appraisers Sample Clauses
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Three Appraisers. If the values attic appraisals differ by more than ten percent (10%) of the value of the higher appraisal, then within ten (10) days after the date the appraisals are compared, the two (2) appraisers selected by the parties shall appoint a third similarly qualified appraiser. If the two (2) appraisers fail to so select a third appraiser, a third similarly qualified appraiser shall be appointed at the request of either Landlord or Tenant by the then presiding judge of the lowest state court of general jurisdiction within the county in which the Premises is located. The third appraiser shall then issue his or her appraisal of Market Rent within thirty (30) days after appointment. The Market Rent conclusively shall be the average of the two appraisals closest to each other.
Three Appraisers. If the lower appraisal is less than eighty percent (80%) of the higher appraisal under Section 1.1(c), the two appraisers shall attempt to select a third appraiser meeting the qualifications stated in Section 1.1(a) within thirty (30) days after the second appraiser is appointed. Unless they select a third appraiser and notify the Company of such selection within that thirty (30)-day period, the Company shall select a third appraiser who meets the qualifications stated in Section 1.1(a). The third appraiser, however selected, shall be a person who has not previously acted in any capacity for any Manager, Officer, Member or Affiliate thereof. Within thirty (30) days after the selection of the third appraiser, each appraiser shall submit his or her determination of the Fair Market Value. The Fair Market Value shall be the average of the two determinations that are closest in amount (so that if, for example, the determinations were 5.0, 8.0 and 10.0, the Fair Market Value would 9.0 (the average of 8.0 and 10.0)); provided that if one of the appraisals (“Middle Appraisal”) is exactly the average of the other two appraisals, the Fair Market Value shall be the Middle Appraisal (so that if, for example, the determinations were 5.0, 7.5 and 10.0, the Fair Market Value would be 7.5).
Three Appraisers. If the values of the appraisals differ by more than ten percent (10%) of the value of the higher appraisal, the two (2) appraisers shall designate a third appraiser meeting the qualifications set forth in subsection (c), above. If the two (2) appraisers have not agreed on the third appraiser after ten (10) days, either Lessor or Lessee, by giving ten (10) days notice to the other party, may apply to the then Presiding Judge of the Superior Court of Alameda County for the selection of a third appraiser who meets the qualifications set forth in subsection (c) above. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either party. The role of the third appraiser shall be to select, within ten (10) days after submission to him or her of the appraisals of the two other appraisals, which of the two appraisals most closely approximates the third appraiser's determination, consistent with the criteria of subsection (g) hereof, of Market Rent. The third appraiser shall have no right to propose a middle ground or any modification of either of the two other appraisals. The determination of Market Rent chosen by the third appraiser shall be final and binding upon the parties.
Three Appraisers. If the values of the appraisals differ by more than five percent (5%) of the value of the higher appraisal, the two (2) appraisers shall designate in writing a third appraiser meeting the qualifications set forth in subsection (a) above. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either party. The third appraiser shall make an appraisal of the Fair Market Value within forty-five (45) days after selection and without consultation with the first two (2) appraisers. The Fair Market Value shall be the value selected by one of the two (2) appraisers that is closest, on a dollar basis, to the Fair Market Value selected by the third appraiser. The appraisal shall be concluded within one hundred five (105) days of the matter being submitted to the appraisers.