Common use of Facilities Inventory Clause in Contracts

Facilities Inventory. Licensor shall have the right to require a jointly conducted physical inventory of Licensee’s Equipment on Licensor Structures and in Licensee Conduit upon ninety (90) days’ advance written notice. In such event, Licensor may select an independent contractor for the performance of such physical inventory through a competitive bid process. Licensee shall be permitted to supplement Licensor’s invitation to bid list to include contractors designated by Licensee. A jointly conducted physical inventory shall be taken no more frequently than once every three years. If the facilities of more than one joint-user are inventoried, each such joint-user shall contribute a proportionate share of the costs of such inventory. As an alternative to performance of the jointly conducted physical inventory, the Parties may, if mutually agreed, determine the number of attachments and feet of occupancy from existing maps and/or attachment records provided that such maps or records exist and provided that each Party agrees that results with reasonable accuracy can be achieved. If the Parties agree to this method, any maps and/or records belonging to one of the Parties and utilized to count attachments and Conduit occupancy shall be made available to the other Party and the number of attachments and feet of Conduit occupancy shall be determined through a mutual and cooperative effort of both Parties. The results of attachment and occupancy counts performed in this manner shall be treated, for the purpose of determining rentals and other charges due for unauthorized attachments, as if results were achieved by an actual jointly conducted physical inventory.