Common use of Tenant’s Audit Right Clause in Contracts

Tenant’s Audit Right. In the event that the Auditor finds an error in Landlord's statement of Operating Expenses, Tenant and/or Landlord shall have the right to require the Auditor by notice to the Auditor and the other party within sixty (60) days after receipt of the Auditor's notice of error, to review Landlord's books and records relating to Operating Expenses for preceding years for the purpose of determining whether the same error resulted in an overcharge or undercharge to Tenant with respect to the same or substantially similar line items in such preceding years, and if so, any undercharge shall be paid by Tenant within thirty (30) after notice from the Auditor of such undercharge or, any overcharge to Tenant shall be adjusted by a credit in the amount of such overpayment against Tenant's next required payment of Rent, or in the event that the Term has expired or terminated, by payment to Tenant within thirty day after notice to Landlord of any such overpayment. The provisions of this Section 4.06 shall survive the expiration or earlier termination of this Lease.