Common use of Appraisers Clause in Contracts

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent determined by an appraisal, then within ten (10) business days after receipt of Tenant’s written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker to render a written opinion of the Fair Market Rent for the Extension Period. Each broker must be a real estate broker licensed in the State where the Building is located for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers shall render their written opinion of the Fair Market Rent for the Extension Period to Landlord and Tenant within thirty (30) days after the appointment of the second broker. If the Fair Market Rent of each broker is within three percent (3%) of each other, then the average of the two appraisals of Fair Market Rent shall be the Fair Market Rent for the Extension Period. If one party does not appoint its broker as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent determined by an appraisal, then within ten (10) business days after receipt of Tenant’s written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker an appraiser to render a written opinion of the Fair Market Rent for the Extension Period. Each broker appraiser must be a real estate broker licensed in member of the State where the Building is located Appraisal Institute of America (MAI) for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers appraisers shall render their written opinion of the Fair Market Rent for the Extension Period to Landlord and Tenant within thirty (30) days after the appointment of the second brokerappraiser. If the Fair Market Rent of each broker appraiser is within three five percent (35%) of each other, then the average of the two appraisals of Fair Market Rent shall be used as the Fair Market Rent for the Extension Period. If one party does not appoint its broker appraiser as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent ---------- determined by an appraisal, then within ten (10) business days after receipt of Tenant’s 's written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker an appraiser to render a written opinion of the Fair Market Rent for the Extension Period. Each broker appraiser must be a real estate broker licensed in member of the State where the Building is located Appraisal Institute of America (MAI) for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers appraisers shall render their written opinion of the Fair Market Rent for the Extension Period to Landlord and Tenant within thirty (30) days after the appointment of the second brokerappraiser. If the Fair Market Rent of each broker appraiser is within three five percent (35 %) of each other, then the average of the two appraisals of Fair Market Rent shall be the Fair Market Minimum Monthly Rent for the Extension Period. If one party does not appoint its broker appraiser as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent determined by an appraisal, then within ten (10) business days after receipt of Tenant’s 's written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker an appraiser to render a written opinion of the Fair Market Rent for the applicable Extension Period. Each broker appraiser must be a real estate broker licensed in member of the State where the Building is located Appraisal Institute of America (MAI) for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers appraisers shall render their written opinion of the Fair Market Rent for the applicable Extension Period to Landlord and Tenant within thirty (30) days after the appointment of the second brokerappraiser. If the Fair Market Rent of each broker appraiser is within three five percent (35%) of each other, then the average of the two appraisals of Fair Market Rent shall be the Fair Market Base Rent for the applicable Extension Period. If one party does not appoint its broker appraiser as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent determined by an appraisal, then within ten (10) business days after receipt of Tenant’s written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker an appraiser to render a written opinion of the Fair Market Rent for the Extension PeriodTerm. Each broker appraiser must be a real estate broker licensed in member of the State where the Building is located Appraisal Institute of America (MAI) for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers appraisers shall render their written opinion of the Fair Market Rent for the Extension Period Term to Landlord and Tenant within thirty (30) days after the appointment of the second brokerappraiser. If the Fair Market Rent of each broker appraiser is within three five percent (35%) of each other, then the average of the two appraisals of Fair Market Rent shall be the Fair Market Base Monthly Rent for the Extension PeriodTerm. If one party does not appoint its broker appraiser as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.

Appraisers. If Tenant has elected (or deemed to have elected) to have the Fair Market Rent determined by an appraisal, then within ten (10) business days after receipt of Tenant’s written notice of such an election, each party, by giving written notice to the other party, shall appoint a broker an appraiser to render a written opinion of the Fair Market Rent for the Extension Period. Each broker appraiser must be a real estate broker licensed in member of the State where the Building is located Appraisal Institute of America (MAI) for at least five years and with at least five years experience in the appraisal of rental rates of leases or in the leasing of space in full service office buildings in the area in which the Building is located and otherwise unaffiliated with either Landlord or Tenant. The two brokers appraisers shall render their written opinion of the Fair Market Rent for the Extension Period to Landlord and Tenant within thirty twenty (3020) days after the appointment of the second brokerappraiser. If the Fair Market Rent of each broker appraiser is within three five percent (35%) of each other, then the average of the two appraisals of Fair Market Rent shall be the Fair Market Base Monthly Rent for the Extension Period. If one party does not appoint its broker appraiser as provided above, then the one appointed shall determine the Fair Market Rent. The Fair Market Rent so determined under this section shall be binding on Landlord and Tenant.