Common use of Landlord's Audit Clause in Contracts

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.

Appears in 4 contracts

Samples: Option Agreement (Polycom Inc), Lease (Cabletron Systems Inc), Agreement (Picturetel Corp)

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