One Determination. If Landlord or Tenant fails to make a determination of the Fair Market Rental Value within the 21-day period, that failure shall be conclusively considered to be that party's approval of the Fair Market Rental Value submitted within the five-day period by the other party. 3489-000151321/1351 Harbor Bay Pkwy -64- (c) Arbitration. If both parties make timely individual determinations of the Fair Market Rental Value under subsection (b), the Fair Market Rental Value shall be determined by arbitration under this subsection (c).
Appears in 1 contract
Sources: Lease Agreement (Penumbra Inc)
One Determination. If Landlord or Tenant fails to make a determination of the Fair Market Rental Value within the 21-day period, that failure shall be conclusively considered to be that party's approval of the Fair Market Rental Value submitted within the five-day period by the other party. 3489-000151321/1351 Harbor Bay Pkwy -64- .
(c) Arbitration. If both parties make timely individual determinations of the Fair Market Rental Value under subsection (b), the Fair Market Rental Value shall be determined by arbitration under this subsection (c).
Appears in 1 contract
Sources: Lease Agreement (Penumbra Inc)