Landlord’s Right to Audit. If Tenant shall fail to submit to Landlord (i) any Annual Statement on the date due, and such failure continues for 5 days after notice from Landlord, or (ii) any Quarterly Statement on the date due, and such failure continues for 5 days after notice from Landlord in any 2 quarters, whether or not consecutive, in any period of 12 months, then Landlord shall have the right to perform a complete audit, at Tenant’s expense, of Tenant’s books of accounts and records of Gross Revenues. Landlord shall also have the right, at any time from time to time, to perform a complete audit of any one or more Quarterly or Annual Statements, and in connection with such audit, to examine Tenant’s books of account and records of Gross Revenues, and Tenant shall make all such books of account and records available for examination by Landlord in the Borough of Manhattan, City of New York. Tenant shall permit Landlord to make copies of any such books, records and information as Landlord may require in connection with such audit, at Tenant’s cost and expense. Tenant shall pay to Landlord within 10 Business Days after demand any additional Percentage Rent which such audit discloses is due to Landlord, with interest thereon at the Interest Rate from the date upon which Tenant should have paid such Percentage Rent through the date paid. In addition, if (A) such audit discloses that the actual amount of Gross Revenues differs from the amount reported by more than 5%, or (B) the Person conducting such audit reports that, in its opinion, Tenant’s records and procedures are insufficient to permit an accurate determination of Gross Revenues for any period, Tenant shall also pay the costs of such audit as Additional Rent to Landlord within 5 days following rendition of a xxxx therefor. Upon reasonable written notice, Tenant shall permit Landlord to examine Tenant’s books of account and records and record-keeping procedures during regular business hours, and to have a representative present on the Premises from time to time to check, verify and tabulate Gross Revenues and to evaluate Tenant’s control features affecting the determination of Gross Revenues. All of Landlord’s rights of inspection, audit, examination and evaluation granted pursuant to this Section (f) may be exercised by Landlord’s accountants or other authorized agents or representatives. Subject to any Requirements, Landlord agrees to maintain the information obtained from such audit in strict confidence, except that Landlor...
Landlord’s Right to Audit. Tenant shall permit Landlord, its employees and its agents (including its environmental consultant), access to all areas of the Premises for the purposes of conducting an environmental assessment or inspection during regular business hours, or during other hours either by agreement of the parties or in the event of an environmental emergency. In the event Landlord shall exercise its rights under this Section 11.4, (i) Landlord shall use reasonable efforts to minimize interference with Tenant’s business, but shall not be liable for any interference caused thereby, provided Landlord shall have used such reasonable efforts; and (ii) except in the case of an environmental emergency, Landlord shall exercise said assessment or inspection right no more than one time during any 12 month period of the term, provided, however, that said limitation of one audit every 12 months (a) shall not apply and be counted towards any assessments or inspections required by any lender of Landlord; and (b) shall be deemed void and of no force and effect in the event Landlord has a reasonable belief that a release or threat of release of Hazardous Materials or a violation of a Legal Requirement existed or exists at, on, under or from the Premises or the Property.
Landlord’s Right to Audit. If Tenant omits to prepare and deliver promptly any statement, report or financial statements required by the provisions of this Article 4, Landlord shall have the right, in addition to all other rights available to Landlord upon Tenant's default, to make, or cause to be made, an audit of all books and records of Tenant and any Subtenants, including their respective bank accounts which in any way pertain to or show Tenant's activities, and to prepare, or cause to be prepared, the statement, report or financial statements which Tenant has failed to prepare and deliver; Tenant shall give Landlord and its designated representatives access to such books and records at all reasonable times for purposes of making any such audit and preparing any such statement, report or financial statements. Such audit shall be made and such statements and reports shall be prepared by a person or persons selected by Landlord. The statements or reports so prepared shall be conclusive on Tenant, and Tenant shall pay all expenses of the audit and other costs incurred by Landlord in connection therewith. If any such audit shall disclose any willful inaccuracy of Tenant, such inaccuracy shall constitute an incurable breach of this Lease.
Landlord’s Right to Audit. Tenant shall permit Landlord, its employees and its agents (including its environmental consultant), access to all areas of the Premises, from time to time during the term, for the purposes of conducting an environmental assessment or inspection during regular business hours, or during other hours either by agreement of the parties or in the event of an environmental emergency. In the event Landlord shall exercise its rights under this Section 11.4, Landlord shall use reasonable efforts to minimize interference with Tenant’s business, but shall not be liable for any interference caused thereby, provided Landlord shall have used such reasonable efforts. Landlord shall reasonably cooperate with Tenant so that, except in the case of emergencies, Tenant’s representative may accompany such persons who enter the Premises for such audit(s).
Landlord’s Right to Audit of the Lease shall be replaced in its entirety as follows: “If (i) Landlord elects in its sole and absolute discretion, or (ii) Tenant omits to prepare and deliver promptly any statement, report or financial statements required by the provisions of this Article 4, Landlord shall have the right to make, or cause to be made, an audit of all books and records of Tenant and any Subtenants, including their respective bank accounts which in any way pertain to or show Tenant’s activities, and to prepare, or cause to be prepared, the statement, report or financial statements which Tenant has failed to prepare and deliver; Tenant shall give Landlord and its designated representatives access to such books and records at all reasonable times for purposes of making any such audit and preparing any such statement, report or financial statements. Such audit shall be made and such statements and reports shall be prepared by a person or persons selected by Landlord. The statements or reports so prepared shall be conclusive on Tenant. Any audit made by Landlord pursuant to this Section 4.04 shall be at Landlord’s expense, except if the audit is made due to Tenant’s omission described in clause (ii) above or Landlord’s audit discloses an inaccuracy of any statement of income or expense of five percent (5%) or more then Tenant shall pay all expenses of the audit and other costs incurred by Landlord in connection therewith. If any such audit shall disclose any willful inaccuracy of Tenant, such inaccuracy shall constitute an incurable breach of this Lease. Landlord’s audit rights shall be in addition to all other rights available to Landlord upon Tenant’s default.”
Landlord’s Right to Audit. Landlord shall have the right, from time to time, to examine and make copies of records pertaining to the Base Rent Statement and the Annual Percentage Rent Statement (“Audit”). Upon request of Landlord to review said records, Tenant shall promptly provide Landlord reasonable access to them electronically if feasible, or otherwise at a site located in Fayette County, Kentucky. If the Audit discloses any deficiency in the payment of Base Rent or Percentage Rent by Tenant (“Deficient Amount”), then Tenant shall promptly pay Landlord the Deficient Amount upon demand. If the Deficient Amount is greater than five percent (5%) of the actual Base Rent and Percentage Rent (if any) due, then Tenant shall reimburse Landlord for the cost of the Audit and Tenant shall also pay Landlord interest on the Deficient Amount at the Default Rate accruing from the date the Deficient Amount was originally due to Landlord. If the Audit shall disclose any overpayment of Base Rent or Percentage Rent to Landlord, Landlord shall promptly reimburse Tenant for said overpayment.
Landlord’s Right to Audit. Upon at least twenty-four (24) hours prior written notice to Tenant (which may be by email) and no more than one (1) time in any 12-month period, Tenant shall permit Landlord, its employees and its agents (including its environmental consultant), access to all areas of the Premises, from time to time during the term, for the purposes of conducting an environmental assessment or inspection during regular business hours, or during other hours either by agreement of the parties or in the event of an environmental emergency. In the event Landlord shall exercise its rights under this Section 10.4, Landlord shall use reasonable efforts to minimize interference with Tenant’s business, but shall not be liable for any interference caused thereby, provided Landlord shall have used such reasonable efforts. Landlord and any other permitted parties shall in all events (except emergencies) comply with the security and access procedures required by Tenant.
Landlord’s Right to Audit. At its option, the Landlord may cause, at any reasonable time upon five days’ prior written notice to the Tenant, a complete audit to be made of the Tenant’s entire business affairs and records relating to the Premises for the period covered by any statement issued by the Tenant pursuant to section 3.3. If such audit discloses a liability for Percentage Rent to the extent of three percent or more in excess of the Percentage Rent theretofore computed and paid by the Tenant for such period, the Tenant shall promptly pay to the Landlord the cost of said audit, in addition to the deficiency, which deficiency shall be payable in any event, and in addition, the Landlord will have the further remedy of terminating this Lease upon five days written notice to the Tenant, such remedy to be exercised within 60 days following the completion of such audit. Provided always that if the shortage in computation of Percentage Rent by the Tenant was due to clerical or demonstrable error or as a result of the fraud or negligence of an employee of the Tenant, then the foregoing remedy of terminating this Lease shall not be applicable with respect to such shortage, but the Tenant shall still be obligated to pay to the Landlord the cost of said audit, together with the said deficiency. Any information obtained by the Landlord as a result of such audit shall be held in strict confidence by the Landlord, provided, however, that the Landlord shall have the right to disclose to its lenders, prospective lenders and prospective purchasers of the Lands and Building the contents of any statements, reports and audits.
Landlord’s Right to Audit. The Landlord shall have the right, upon reasonable notice to the Tenant, to audit the books and records relating to the Tenant’s operation in order to determine the accuracy and completeness of the fees paid to the Landlord for any Contract Year which ended no more than three (3) years prior to the date of commencement of such audit. The Landlord’s right to audit will extend to related parties of the Tenant. Additionally, the Landlord representatives may conduct interviews with Tenant personnel, contact financial institutions, and make copies of records as necessary. The Landlord and its auditors also shall have the right to conclude that the documents provided in support of the audit are the Tenant’s complete records; that transactions lacking source documents may be subjected to additional scrutiny; and make recommendations for recovery of any additional Gross Revenues associated with the missing documents or a decision to exclude any amount normally included as an allowable deduction.
Landlord’s Right to Audit. Landlord, First Mortgagee, Highmark Guarantor, and Servicer, and their respective duly authorized representatives, shall be given the right, upon reasonable advance notice to the School, to audit, examine and make excerpts or transcripts of or from records of such School, and to make audits of all books and records of income and expenses and other financial information relating to the School.
