Common use of Audit of Quarterly Statement Clause in Contracts

Audit of Quarterly Statement. Within thirty (30) days after Tenant's receipt of a Quarterly Statement, if Tenant disputes the amount of Tenant's obligations set forth therein, at Tenant's expense an independent certified public accountant designated by Tenant, may, after reasonable notice to Landlord and at reasonable times, inspect Landlord's records pertaining to Expenses for the subject quarter. If Tenant still disputes any matter set forth in the subject Quarterly Statement after such inspection, a certification as to the proper amount owing by Tenant with respect to Expenses for the subject quarter shall be made at Tenant's expense by an independent certified public accountant mutually acceptable to Landlord and Tenant, and such certification shall be final and conclusive (the "Final Audit"), and any necessary adjustment shall be made for the next monthly rental payment in light of the Final Audit. If the Final Audit shows that Expenses for the particular quarter have been overstated by more than three percent (3%), then Landlord shall be responsible for the cost of the Final Audit. Both Landlord and Tenant shall have fifteen (15) days from the date the Final Audit is received by them to dispute the calculation of Expenses set forth therein. If either party disputes the calculation of Expenses reflected in the Final Audit, then Landlord and Tenant shall resolve such dispute in the manner set forth in Section 10.18 of the Contribution Agreement. Notwithstanding the foregoing, with respect to the Quarterly Statement for the last full or partial quarter occurring during the Lease Term, Tenant shall have six (6) months after Tenant's receipt of the subject Quarterly Statement to dispute such statement in accordance with the terms of this paragraph. Tenant shall pay all Rent during the pendency of any audit hereunder. The provisions of this paragraph shall survive the expiration or earlier termination of this Lease.

Audit of Quarterly Statement. Within thirty (30) days after Tenant's receipt of a Quarterly Statement, if Tenant disputes the amount of Tenant's obligations set forth therein, at Tenant's expense an independent certified public accountant designated by Tenant, may, after reasonable notice to Landlord and at reasonable times, inspect Landlord's records pertaining to Expenses for the subject quarter. If Tenant still disputes any matter set forth in the subject Quarterly Statement after such inspection, a certification as to the proper amount owing by Tenant with respect to Expenses for the subject quarter shall be made at Tenant's expense by an independent certified public accountant mutually acceptable to Landlord and Tenant, and such certification shall be final and conclusive Tenant (the "Final Audit"), and any necessary adjustment shall be made for the next monthly rental payment in light of the Final Audit. If the Final Audit shows that Expenses for the particular quarter have been overstated by more than three one percent (31%), then Landlord shall be responsible for the cost of the Final Audit. Both Landlord and Tenant shall have fifteen (15) days from the date the Final Audit is received by them to dispute the calculation of Expenses set forth therein. If either party disputes the calculation of Expenses reflected in the Final Audit, then Landlord and Tenant shall resolve such dispute in the manner set forth in Section 10.18 of the Contribution Agreement. Notwithstanding the foregoing, with respect to the Quarterly Statement for the last full or partial quarter occurring during the Lease Term, Tenant shall have six (6) months after Tenant's receipt of the subject Quarterly Statement to dispute such statement in accordance with the terms of this paragraph. Tenant shall pay all Rent rent during the pendency of any audit hereunder. The provisions of this paragraph shall survive the expiration or earlier termination of this Lease.