Common use of Audit Adjustment Clause in Contracts

Audit Adjustment. If any audit of the records, books or accounts relating to the Project discloses an overpayment or underpayment of the Management Fee or any other fee payable to Manager pursuant to this Agreement, the Owner or the Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of the Management Fee or any other fee payable to Manager pursuant to this Agreement for any fiscal year of more than the correct Management Fees or other fees for such fiscal year, the Manager shall bear the cost of such audit.

Audit Adjustment. If any audit of the records, books or accounts relating to the Project discloses an overpayment or underpayment of the Management Fee or any other fee payable to Manager pursuant to this Agreement, the Owner or the Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment by more than five percent (5%) of the correct Management Fee or any other fee payable to Manager pursuant to this Agreement for any fiscal year of more than the correct Management Fees or other fees for such fiscal year, the Manager shall bear the cost of such audit.

Audit Adjustment. If any audit of the records, books or accounts relating to the Project discloses an overpayment or underpayment of the Management Fee or any other fee payable to Manager pursuant to this AgreementFees, the Owner or the Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of the Management Fee or any other fee payable to Manager pursuant to this Agreement Fees for any fiscal year of 5% more than the correct Management Fees or other fees for such fiscal year, the Manager shall bear the cost of such audit.