Common use of Lender’s Right to Audit Clause in Contracts

Lender’s Right to Audit. The books, accounts and records of Borrower and the Lightstone Property Owners shall at all times be maintained at Borrower’s Property Management Office. Upon reasonable notice to Borrower, Lender may at its option and expense conduct audits of the books, records and accounts of the Lightstone Properties, on either a continuing or periodic basis or both, by employees of Lender, an Affiliate of Lender, or by a national firm of independent certified public accountants selected by Lender (“Auditor”). If Lender’s accountants are not the Auditor and disagree with the Auditor’s decision as to any matter concerning the books, accounts and records of either Lightstone Property, Lender may notify Borrower of such disagreement, and Borrower and Lender shall cause the Auditor and Lender’s accountants, respectively, to hold such meetings and discussions as they shall deem necessary concerning the disagreement and to use all reasonable efforts to reach a mutually acceptable resolution of the matter in question. If the Auditor and the Lender’s accountants are unable to reach a mutually acceptable resolution of the matter in question, they shall select a national firm of certified public accountants to act as a third auditor to review and make a determination as to the matter in question. Such third auditor’s determination shall be final and binding upon the parties, the Auditor and Lender’s accountants. Such third auditor shall have full access to the books, records and accounts of the Lightstone Properties. The charges and expenses of such third auditor shall be paid by Borrower as an Operating Expense.

Lender’s Right to Audit. The books, accounts and records of Borrower and the Lightstone Martinsburg Property Owners Owner shall at all times be maintained at the office of Borrower’s Property Management Office's property managing agent. Upon reasonable notice to Borrower, Lender may at its option and expense conduct audits of the books, records and accounts of the Lightstone PropertiesMartinsburg Property, on either a continuing or periodic basis or both, by employees of Lender, an Affiliate of Lender, or by a national firm of independent certified public accountants selected by Lender (“"Auditor”"). If Lender’s 's accountants are not the Auditor and disagree with the Auditor’s 's decision as to any matter concerning the books, accounts and records of either Lightstone the Martinsburg Property, Lender may notify Borrower of such disagreement, and Borrower and Lender shall cause the Auditor and Lender’s 's accountants, respectively, to hold such meetings and discussions as they shall deem necessary concerning the disagreement and to use all reasonable efforts to reach a mutually acceptable resolution of the matter in question. If the Auditor and the Lender’s 's accountants are unable to reach a mutually acceptable resolution of the matter in question, they shall select a national firm of certified public accountants to act as a third auditor to review and make a determination as to the matter in question. Such third auditor’s 's determination shall be final and binding upon the parties, the Auditor and Lender’s 's accountants. Such third auditor shall have full access to the books, records and accounts of the Lightstone PropertiesMartinsburg Property. The charges and expenses of such third auditor shall be paid by Borrower as an Operating ExpenseBorrower.

Lender’s Right to Audit. The books, accounts and records of Borrower and the Lightstone Property Owners shall at all times be maintained at Borrower’s Property Management Office. Upon reasonable notice to Borrower, Lender may at its option and expense conduct audits of the books, records and accounts of the Lightstone Properties, on either a continuing or periodic basis or both, by employees of Lender, an Affiliate of Lender, or by a national firm of independent certified public accountants selected by Lender (“Auditor”). If Lender’s accountants are not the Auditor and disagree with the Auditor’s decision as to any matter concerning the books, accounts and records of either Lightstone Property, Lender may notify Borrower of such disagreement, and Borrower and Lender shall cause the Auditor and Lender’s accountants, respectively, to hold such meetings and discussions as they shall deem necessary concerning the disagreement and to use all reasonable efforts to reach a mutually acceptable resolution of the matter in question. If the Auditor and the Lender’s accountants are unable to reach a mutually acceptable resolution of the matter in question, they shall select a national firm of certified public accountants to act as a third auditor to review and make a determination as to the matter in question. Such third auditor’s determination shall be final and binding upon the parties, the Auditor and Lender’s accountants. Such third auditor shall have full access to the books, records and accounts of the Lightstone Properties. The charges and expenses of such third auditor shall be paid by Borrower as an Operating Expense.

Lender’s Right to Audit. The books, accounts and records of Borrower and the Lightstone Property Owners shall at all times be maintained at Borrower’s 's Property Management Office. Upon reasonable notice to Borrower, Lender may at its option and expense conduct audits of the books, records and accounts of the Lightstone Properties, on either a continuing or periodic basis or both, by employees of Lender, an Affiliate of Lender, or by a national firm of independent certified public accountants selected by Lender (“"Auditor”"). If Lender’s 's accountants are not the Auditor and disagree with the Auditor’s 's decision as to any matter concerning the books, accounts and records of either any Lightstone Property, Lender may notify Borrower of such disagreement, and Borrower and Lender shall cause the Auditor and Lender’s 's accountants, respectively, to hold such meetings and discussions as they shall deem necessary concerning the disagreement and to use all reasonable efforts to reach a mutually acceptable resolution of the matter in question. If the Auditor and the Lender’s 's accountants are unable to reach a mutually acceptable resolution of the matter in question, they shall select a national firm of certified public accountants to act as a third auditor to review and make a determination as to the matter in question. Such third auditor’s 's determination shall be final and binding upon the parties, the Auditor and Lender’s 's accountants. Such third auditor shall have full access to the books, records and accounts of the Lightstone Properties. The charges and expenses of such third auditor shall be paid by Borrower as an Operating Expense.