Common use of Third Appraisal Clause in Contracts

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 10% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 10% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' reports, either party sends written notice to the other calling for a third appraiser, the two previously-selected appraisers shall promptly (but in any event within thirty (30) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in question. The first two appraisers shall notify the Company, which shall in turn notify the owner of the shares of Stock and all other Stockholders, of the name and address of the third appraiser so selected; provided, however, that if the Company has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, the Stockholder whose shares of Stock are being purchased, the Company, the Stockholders nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit to the owner of the shares of Stock and the Company his appraisal report, in which case the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two appraisals that are closest to each other.

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 1020% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party Member has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question Interest to be sold shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 1020% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' reports, either party Member sends written notice to the other calling for a third appraiser, the two previously-selected appraisers shall promptly (but in any event within thirty fifteen (3015) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in questionInterest to be sold. The first two appraisers shall notify the Company, which shall in turn notify the owner of the shares of Stock and all other Stockholders, Members of the name and address of the third appraiser so selected; provided, however, that if the Company has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, appraisers nor the Stockholder whose shares of Stock are being purchased, the Company, the Stockholders Members nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit his appraisal report to the owner of the shares of Stock and the Company his appraisal reportMembers, in which case the Appraisal Process shall be concluded and the fair market value of the property in question Interest to be sold shall be the average of the two appraisals that are closest to each other.

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 10% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 10% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' reports, either party sends written notice to the other calling for a third appraiser, the two previously-selected appraisers shall promptly (but in any event within thirty (30) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in question. The first two appraisers shall notify the CompanyLLC, which shall in turn notify the owner of the shares of Stock Interest and all other StockholdersMembers, of the name and address of the third appraiser so selected; provided, however, that if the Company LLC has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, the Stockholder Member whose shares of Stock are Interest is being purchased, the CompanyLLC, the Stockholders Members nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit to the owner of the shares of Stock Interest and the Company LLC his appraisal report, in which case the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two appraisals that are closest to each other.

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 1020% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 1020% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' ’ reports, either party sends written notice to the other calling for a third appraiser, the two previously-previously selected appraisers shall promptly (but in any event within thirty (30) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in question. The first two appraisers shall notify the Company, which shall in turn notify the owner of the shares of Stock Interest and all other StockholdersMembers, of the name and address of the third appraiser so selected; provided, however, that if the Company has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, the Stockholder Member whose shares of Stock are Interest is being purchased, the Company, the Stockholders Members nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit to the owner of the shares of Stock Interest and the Company his appraisal report, in which case the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two appraisals that are closest to each other.

Third Appraisal. If the higher fair market value of the two appraisals exceeds the lower fair market value by more than 10% of the lower fair market value and, as of the eleventh (11th) day following the submission of both appraisal reports, neither party has sent written notice calling for a third appraiser, the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two fair market values as set forth in the two appraisal reports. If, however, the higher fair market value exceeds the lower fair market value by more than 10% of the lower fair market value and, within ten (10) days following the submission of the first two appraisers' reports, either party sends written notice to the other calling for a third appraiser, the two previously-selected appraisers shall promptly (but in any event within thirty (30) days following the submission of both appraisal reports) select a third appraiser to determine the fair market value of the property in question. The first two appraisers shall notify the Company, which shall in turn notify the owner of the shares of Stock and all other Stockholders, of the name and address of the third appraiser so selected; provided, however, that if the Company has not received notice of the name and address of the third appraiser within such thirty (30) day period, then the fair market value of the property in question shall be the average of the two appraisals that have been completed. Neither the previously selected appraisers, the Stockholder whose shares of Stock are being purchased, the Company, the Stockholders nor any Persons related to any of them shall disclose to the third appraiser the appraisal reports of the first two appraisers or the results of the first 135 two appraisals. Within thirty (30) days following his appointment, the third appraiser shall submit to the owner of the shares of Stock and the Company his appraisal report, in which case the Appraisal Process shall be concluded and the fair market value of the property in question shall be the average of the two appraisals that are closest to each other.