Procedure for Determining Appraised New Base Rent Sample Clauses

Procedure for Determining Appraised New Base Rent. If a majority of the three appraisers so appointed are unable to agree as to the Appraised New Base Rent for purposes of a determination under Article 3 within fifteen (I 5) Business Days after the exchange of appraisals, the Appraised New Base Rent, determined as provided in Section 19.2(b) for each of the three appraisers, shall be added together and their total divided by three to determine their average. Once the average has been determined for the Appraised New Base Rent, the three appraisals shall be subject to the following two (2) tests: (I) each of Lessor's and ▇▇▇▇▇▇'s appraisals for the Appraised New Base Rent shall be compared to the average to determine if any one or more of them is more than five percent (5%) above or below such quotient; and (2) each of Lessor's and Lessee's appraisals shall be compared to the Third Appraiser's appraisal. If ▇▇▇▇▇▇'s and ▇▇▇▇▇▇'s appraisals are within five percent (5%) above or below the ​ ​ average and within ten percent (I 0%) above or below the Third Appraiser's appraisal, such quotient shall be the Appraised New Base Rent for the purposes set forth in this Lease. If either of Lessor's or Lessee's appraisal is more than five percent (5%) above or below the average or more than ten percent (10%) above or below the Third Appraiser's appraisal, such appraisal or appraisals shall be disregarded, and the Appraised New Base Rent shall be the average of the remaining appraisals or, if neither of Lessor's or Lessee's appraisals meet either criteria, the Appraised New Base Rent shall be the remaining appraisal. Examples illustrating the determination of the Appraised New Base Rent, applying the foregoing principles are set forth on Exhibit L attached hereto.
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