Common use of Recalculation of Base Rent Clause in Contracts

Recalculation of Base Rent. Notwithstanding anything contained herein to the contrary, Tenant shall have the one-time right during the initial term of this Lease to have the Base Rent hereunder recalculated in accordance with this subsection (h). Within thirty (30) days after Landlord's receipt of Tenant's recalculation notice, Landlord and Tenant shall each select an independent disinterested MAI appraiser, which appraisers shall (within ten (10) days) mutually select a third independent disinterested MAI appraiser. Landlord and Tenant shall then each submit for arbitration to the third appraiser their respective offers of the Fair Market Value for the Base Rent. Such third appraiser shall then (within five (5) business days) select only the Landlord's or the Tenant's offer as the Fair Market Rental Value of the Premises. The decision of such third appraiser shall be final and binding on the parties and the fees and costs of such third appraiser shall be borne by the unsuccessful party. At a minimum, each of the MAI appraisers shall be disinterested commercial real estate appraisers in ▇▇▇▇▇▇ County, Tennessee experienced in commercial leasing

Recalculation of Base Rent. Notwithstanding anything contained herein to the contrary, Tenant shall have the one-time right during the initial term of this Lease to have the Base Rent hereunder recalculated in accordance with this subsection (h). Within thirty (30) days after Landlord's receipt of Tenant's recalculation notice, Landlord and Tenant shall each select an independent disinterested MAI appraiser, which appraisers shall (within ten (10) days) mutually select a third independent disinterested MAI appraiser. Landlord and Tenant shall then each submit for arbitration to the third appraiser their respective offers of the Fair Market Value for the Base Rent. Such third appraiser shall then (within five (5) business days) select only the Landlord's or the Tenant's offer as the Fair Market Rental Value of the Premises. The decision of such third appraiser shall be final and binding on the parties and the fees and costs of such third appraiser shall be borne by the unsuccessful party. At a minimum, each of the MAI appraisers shall be disinterested commercial real estate appraisers in ▇▇▇▇▇▇ County, Tennessee experienced in commercial leasing.