Landlord's Audit Clause Samples

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Landlord's Audit. At any time following receipt of Tenant's Annual Statement Landlord may conduct a Landlord's Audit. The term "Landlord's Audit" will mean and refer to a report of Tenant's Records audited by, at Landlord's choice, either (a) Landlord, its employees, or agents, or (b) a certified public accountant of Landlord's choice. Landlord's Audit, if conducted by a certified public accountant, will be binding and conclusive on Landlord and Tenant for purposes of calculating the Adjusted Percentage Rent (as defined below). Landlord shall pay the costs and expense of Landlord's Audit, except in the event that Landlord's Audit reveals that the amount of Sales and Business Transacted exceeds by 3% or more the amount set forth in the Tenant's Annual Statement, in which event Tenant shall pay all costs and expenses of Landlord's Audit as part of the Adjusted Percentage Rent.
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Landlord's Audit a. Upon prior notice and during normal business hours, Tenant shall provide Landlord access to those records relating to the Premises and ▇▇▇▇▇▇’s use and occupancy of the Premises under this Lease that are necessary for the purpose of conducting an audit of such records to verify the calculation and payment of Rent for any of the three (3) preceding Lease Years. b. If Landlord determines as a result of such audit that there has been a deficiency in the payment of any Rent for any Lease Year, then such deficiency shall become immediately due and payable and shall bear interest at the Interest Rate from the date the payment should have been made until paid. If such audit determines that there has been an overpayment of any rentals, such overpayment shall be credited against the next rents and charges due to Landlord under this Lease. c. If Tenant disputes the findings of the audit conducted by Landlord or if the amount of deficiency is estimated by Landlord to be greater than three percent (3%) of the amount due, then, at the request of the Landlord, upon not less than ten (10) days prior written notice and during normal business hours, Tenant shall provide Landlord access to those records relating to the Premises and Tenant’s use and occupancy of the Premises under this Lease that are necessary for the purpose of conducting an audit of such records by an independent certified public accountant to verify the calculation and payment of Rent for any of the three (3) preceding Lease Years. The accountant shall consult with both parties during the audit process. d. Should Landlord conduct an audit by an independent certified public accountant for the purposes of Section 7.3(c) above then Tenant shall reimburse Landlord in full for Landlord’s reasonable out of pocket payments for the audit by the independent certified public accountant if such audit determines that Tenant owes additional sums to Landlord and the amount of such deficiency is greater than three percent (3%) of the amount due.
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Landlord's Audit. In addition to providing the information described in Addendum #3, Landlord shall arrange for an annual audit to be made of its books and records relating to this Lease (including with respect to Net Proceeds under Addendum #3). Landlord shall deliver a copy of this annual audit to Tenant within ten (10) days after it is received in final form by Landlord. Tenant shall have the right, at its sole cost and expense, at any time during the term of this Lease and for six (6) months thereafter, to consult with Landlord's auditors regarding such audit. If the results of an annual audit made by Landlord's auditors show an underpayment or overpayment with respect to Net Proceeds, the shortfall or the excess, as applicable, will be paid or refunded within thirty (30) days after the final results of such audit have been delivered to Landlord and Tenant.
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Related to Landlord's Audit

  • Landlord Improvements Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) As of November 4, 2011, after consultation with Tenant, Landlord has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Landlord Improvements (such plans and specifications, as amended in accordance with the provisions of this Rider 101, are hereafter called “Plans and Specifications”). (b) The Plans and Specifications have been accepted by both Tenant and Landlord, the Plans and Specifications are incorporated herein by reference and made a part hereof for all purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page ▇▇▇▇▇▇▇▇▇▇▇ Page, LLP have been approved by both parties and shall constitute the “Plans and Specifications.” (d) Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. All bids have been opened together, with Landlord selecting the general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction not to exceed the Landlord’s Contribution.

  • Landlord’s Fees Whenever Tenant requests Landlord to take any action not required of it hereunder or give any consent required or permitted under this Lease, Tenant will reimburse Landlord for Landlord’s reasonable, out-of-pocket costs payable to third parties and incurred by Landlord in reviewing the proposed action or consent, including reasonable attorneys’, engineers’ or architects’ fees, within thirty (30) days after Landlord’s delivery to Tenant of a statement of such costs. Tenant will be obligated to make such reimbursement without regard to whether Landlord consents to any such proposed action.

  • Landlord’s Expenses In the event Tenant shall assign this Lease or sublet the Premises or request the consent of Landlord to any Transfer, then Tenant shall pay Landlord's reasonable costs and expenses incurred in connection therewith, including, but not limited to, attorneys', architects', accountants', engineers' or other consultants' fees.

  • LANDLORD'S MAINTENANCE Subject to the provisions of Articles 4 and 14, Landlord shall, as an Operating Expense, maintain and make necessary repairs to the foundations, roofs, exterior walls, and the structural elements of the Building, the electrical, plumbing, heating, ventilating, air-conditioning, mechanical, communication, security and the fire and life safety systems of the Building and those corridors, washrooms and lobbies which are Common Areas of the Building, except that: (a) Landlord shall not be responsible for the maintenance or repair of any floor or wall coverings in the Premises or any of such systems which are located within the Premises and are supplemental or special to the Building’s standard systems; and (b) the cost of performing any of said maintenance or repairs whether to the Premises or to the Building caused by the negligence of Tenant, its employees, agents, servants, licensees, subtenants, contractors or invitees, shall be paid by Tenant, subject to the waivers set forth in Section 16.4. Landlord shall not be liable to Tenant for any expense, injury, loss or damage resulting from work done in or upon, or in connection with the use of, any adjacent or nearby building, land, street or alley.

  • Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.