Tenant’s Right to Audit. The annual Statement of Operating Costs for the preceding year shall be provided by Landlord on or before April 30th of each calendar year after the Base Year of the Lease term. Within ninety (90) days after receipt of the Statement, Tenant shall be entitled, upon ten (10) days prior written notice (“Inspection Notice”) and during normal business hours, at Landlord’s office or such other place as Landlord shall reasonably designate, to inspect and examine those books and records of Landlord relating to the determination of Operating Costs for only the immediately preceding calendar year. Any third party engaged by Tenant to inspect or examine the books and records shall be a certified public accountant from a nationally or regionally recognized accounting firm and such accountant shall not be compensated on a contingency fee or similar basis. Should Tenant elect to inspect such records, Tenant’s inspection shall be completed and the results thereof submitted to Landlord no later than two (2) months after Tenant’s notification to Landlord of its intent to inspect Landlord’s books and records. Tenant shall be deemed to have waived its right to inspect Landlord’s books and records if Tenant fails to timely deliver the Inspection Notice, or fails to timely complete the inspection (unless Landlord was the cause of the delay). If, after inspection and examination of such books and records, Tenant disputes the amounts of Operating Costs charged by Landlord, Tenant may, by written notice to Landlord, request an independent audit of such books and records. The independent audit of the books and records shall be conducted by a certified public accountant (“CPA”) acceptable to both Landlord and Tenant. If, within thirty (30) days after Landlord’s receipt of Tenant’s notice requesting an audit, Landlord and Tenant are unable to agree on the CPA to conduct such audit, then Landlord may designate a nationally recognized accounting firm not then employed by Landlord or Tenant to conduct such audit. The audit shall be limited to the determination of the amount of Operating Costs for the subject calendar year. If the audit discloses that the amount of Operating Costs billed to Tenant was incorrect, the appropriate party shall pay to the other party the deficiency or overpayment, as applicable. All costs and expenses of the audit shall be paid by Tenant unless the audit shows that Landlord overstated Operating Costs for the subject calendar year by more than five percent (5...
Tenant’s Right to Audit. Subject to the provisions of this Section and provided that no Event of Default of Tenant exists, Tenant shall have the right to examine the correctness of the Statement or any item contained therein:
Tenant’s Right to Audit. In the event of any dispute or uncertainty as to the amount of Operating Costs and Tenant's Share thereof, Tenant may require clarification as to any disputed amount, including without limitation, receiving and reviewing legible copies of all of Landlord's invoices and paid receipts, with respect to the disputed items, and pursuing an audit as hereinafter specified, provided Tenant notifies Landlord in writing within one hundred eighty (180) days of its receipt of Landlord's statement that Tenant elects to inspect and/or audit such records pursuant to this Paragraph. If Landlord and Tenant are unable to agree as to any disputed item, Tenant may, at its sole cost and expense, audit on its own Landlord's records related to the disputed items, which audit shall be conducted by an independent Big 6 accounting firm selected by Tenant and approved by Landlord, whose approval shall not be unreasonably withheld, and scheduled promptly at the reasonable convenience of both Landlord and Tenant with such audit to take place in Landlord's offices and be completed no later than twelve (12) months from Tenant's receipt of Landlord's statement. If the results of such audit indicate that the aggregate cost of the disputed items is incorrect, then the Landlord shall refund the discrepancy. If the amount of the discrepancy is more than five percent (5%) of the Total Operating Costs Landlord shall pay the costs of the audit not to exceed $7,500.00.
Tenant’s Right to Audit. In the event Tenant shall dispute the amount set forth in Landlord's statement of actual Operating Expenses of the Building, Tenant shall have the right, not later than sixty (60) days following receipt of such statement, to cause Landlord's books and records with respect to the preceding Calendar Year to be audited by an independent certified public accountant mutually acceptable to Landlord and Tenant. Such audit shall occur upon not less than ten (10) business days' written notice to Landlord, at Landlord's place of business or the actual location of the Landlord's books and records if different from Landlord's place of business, during Landlord's normal business hours. The amount payable under this Section by Landlord to Tenant or by Tenant to Landlord, as the case may be, shall be appropriately adjusted on the basis of such audit. If such audit discloses an overstatement by Landlord of the Operating Expenses for the Land and Building of more than ten percent (10%), the cost of such audit shall be borne by Landlord and shall not be considered as an Operating Expense for purposes of this Lease; otherwise, the cost of such audit shall be borne by Tenant. Notwithstanding the foregoing, in no event shall Landlord's cost for such audit exceed One Thousand Dollars ($1,000.00). If Tenant shall not request an audit in accordance with the provisions of this Section within (60) days of receipt of Landlord's statement of actual Operating Expenses, such statement shall be conclusively biding upon Landlord and Tenant.
Tenant’s Right to Audit. For a period of ninety (90) days following Tenant’s receipt of Landlord’s Annual Statement, Tenant shall have the right to have an independent public accounting firm, hired by Tenant on an hourly basis and not on a contingent-fee basis, audit, inspect and copy the books and records of Landlord with respect to any Taxes and Operating Expenses passed through to Tenant as reflected in such Annual Statement, upon ten (10) business days advanced written notice by Tenant to Landlord. Landlord shall reasonably cooperate with Tenant by providing Tenant reasonable access to its books and records during normal business hours, at Landlord's offices, for this purpose. If the results of the audit show any overcharge to Tenant, Landlord shall credit or refund to Tenant any overage of such items as discovered by the audit within thirty (30) days of completion of such audit. In addition, if the results of the audit show an overcharge to Tenant of more than ten percent (10%) of the actual amount owed by Tenant, then, as Tenant’s sole and exclusive remedy for such overcharge to Tenant, Landlord shall pay the reasonable costs of such audit within thirty (30) days of completion of such audit and receipt of reasonable documentation from Tenant evidencing the cost of such audit. In the event such audit discloses an undercharge of such items as billed to Tenant, Tenant shall pay Landlord the amount of such undercharge within thirty (30) days of completion of such audit and Tenant shall bear the cost of such audit. Tenant shall be solely responsible for the cost of the any such audit in all other events.
Tenant’s Right to Audit. Within sixty (60) days after receipt of Landlord’s statement setting forth actual Operating Expenses (the “Statement”), Tenant shall have the right to audit at Landlord’s local offices, at Tenant’s expense, Landlord’s accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded. If such audit reveals that Landlord has undercharged Tenant, the amount of undercharge shall be paid by Tenant to Landlord within 30 days after the audit is conducted. In addition, if the Statement exceeds the actual Operating Expenses which should have been charged to Tenant by more than ten percent (10%), the cost of the audit shall be paid by Landlord.
Tenant’s Right to Audit. Each statement provided by Landlord pursuant to this Section 3.2 shall be conclusive and binding upon Tenant unless fifteen (15) days after receipt of the statement, Tenant shall notify Landlord that it disputes the correctness of the statement, specifying the respects in which the statement is claimed to be incorrect. If Landlord and Tenant are unable to resolve the dispute, Tenant shall then have the right to request that Landlord provide, at Tenant’s expense, an audit of its books and records relating to the statement. Pending determination of the dispute, Tenant shall pay within ten (10) days from notice any amounts due from Tenant in accordance with the statement, but such payment shall be without prejudice to Tenant’s position. If the dispute shall be resolved in Landlord’s favor, Tenant shall pay to Landlord upon demand all other costs and expenses incurred by Landlord in connection therewith.
Tenant’s Right to Audit. Within ninety (90) days after receipt of Landlord’s statement setting forth actual Operating Expenses (the “Statement”), Tenant shall have the right to audit at Landlord’s local offices, at Tenant’s expense, Landlord’s accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld, or by Tenant’s independent lease administration consultants who shall not be compensated on a contingency or percentage basis. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded. If such audit reveals that Landlord has undercharged Tenant, the amount of undercharge shall be paid by Tenant to Landlord within 30 days after the audit is conducted. In addition, if the Operating Expenses included in the Statement exceed the actual Operating Expenses which should have been charged to Tenant by more than five percent (5%), the cost of the audit shall be paid by Landlord. Tenant may not withhold any payment due as set forth in this Lease pending completion of the audit.
Tenant’s Right to Audit. Provided Tenant is not in default under any provision of this Lease after notice and expiration of the applicable cure period, if any, provided for in Article 16, within twelve (12) months after the receipt by Tenant of the annual statement with respect to any item of Additional Rent for a calendar year, or tax year, if applicable with respect to taxes, Tenant may, upon no less than thirty (30) days' prior written notice to Landlord, audit Landlord's books pertaining to such Additional Rent payable by Tenant pursuant to Articles 5, 6, and 7 for such calendar year or tax year, as the case may be. Tenant's audit shall be performed by a certified public accountant who is retained strictly on a non-contingency basis. The audit shall be conducted at the office designated by Landlord and shall be during usual business hours. Tenant's right to audit shall be restricted to one (1) per calendar year and shall be at the sole cost and expense of Tenant. In no event shall Tenant's right to audit relieve Tenant of its obligation to pay all amounts due as provided in this Lease. Tenant shall deliver a copy of the results of such audit to Landlord within fifteen (15) days of its receipt by Tenant. Any information gained from such audit shall be confidential and shall not be disclosed by Tenant, its agents and/or employees except to Tenant's attorneys, accountants, and consultants or in connection with any contemplated assignments or in connection with any administrative or judicial proceedings in which Tenant may be required to divulge such information.
Tenant’s Right to Audit. Landlord shall deliver to Tenant an itemization in reasonable detail of the hard costs of construction and Soft Costs of the Work (collectively, the “Construction Costs”) incurred by Landlord in connection with the Work at least monthly during the progress of the Work, including copies of invoices requested by Tenant. Landlord shall maintain such records for a period of two (2) years after the Completion Date. Tenant, its accountants or agents, shall have the right to inspect, at reasonable times and in a reasonable manner, such of Landlord’s books of account and records as pertain to and contain information concerning the Construction Costs in order to verify the amounts thereof. If Tenant’s audit discloses an overcharge by Landlord, Landlord shall reimburse Tenant the amount of such overpayment within 30 days of such determination and if such overcharge is in excess of five percent (5%) of Construction Costs for the year in question, then Landlord shall pay Tenant’s accounting fees reasonably incurred in auditing the Construction Costs, even if Tenant’s auditor is paid on a contingency basis.
