Common use of LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS Clause in Contracts

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 and in connection with such audits to examine Tenant's book and records with respect thereto (including supporting data, sales tax returns and Tenant's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue for any Fiscal Year is reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time Tenant's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of Tenant's business operations reasonably requested by Landlord.

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though through its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 and in connection with such audits to examine Tenant's book and records with respect thereto (including supporting data, sales tax returns and Tenant's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue for any Fiscal Year is reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time Tenant's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of Tenant's business operations reasonably requested by Landlord.

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 and in connection with such audits to examine TenantXxxxxx's book and records with respect thereto (including supporting data, sales tax returns and TenantXxxxxx's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue for any Fiscal Year is reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time TenantXxxxxx's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of TenantXxxxxx's business operations reasonably requested by Landlord.

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though through its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 and in connection with such audits to examine TenantXxxxxx's book and records with respect thereto (including supporting data, sales tax returns and TenantXxxxxx's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue for any Fiscal Year is reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time TenantXxxxxx's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of TenantXxxxxx's business operations reasonably requested by Landlord.

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 4.5 and in connection with such audits to examine Tenant's book and records with respect thereto (including supporting data, sales tax returns and Tenant's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue for any Fiscal Year is reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time Tenant's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of Tenant's business operations reasonably requested by Landlord.

LANDLORD'S RIGHT TO AUDIT CALCULATION OF GROSS. GOLF REVENUE. Landlord, at its own expense except as provided hereinbelow, shall have the right from time to time directly or though its accountants to audit the information set forth in the Officer's Certificate referred to in Section 4.4 4.5 and in connection with such audits to examine Tenant's book and records with respect thereto (including supporting data, sales tax returns and Tenant's work papers). If any such audit discloses a deficiency in the payment of Percentage Rent or FB&M Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency as finally agreed or determined, together with interest at the Overdue Rate from the date when said payment should have been made to the date of payment thereof; PROVIDED, HOWEVER, that as to any audit that is commenced more than twelve (12) months after the date Gross Golf Revenue and FB&M Revenue for any Fiscal Year is are reported by Tenant to Landlord in the Officer's Certificate, the deficiency, if any, with respect to such Gross Golf Revenue and FB&M Revenue shall bear interest as permitted herein only from the date such determination of deficiency is made unless such deficiency is the result of gross negligence or willful misconduct on the part of Tenant. If any such audit discloses that the Gross Golf Revenue and FB&M Revenue actually received by Tenant for any Fiscal Year exceeds the Gross Golf Revenue and FB&M Revenue reported by Tenant in the Officer's Certificate by more than two percent (2%), then Tenant shall pay all reasonable costs of such audit and examination; provided Tenant shall have the right to submit the audit determination to arbitration in accordance with the procedures set forth in Article 28. Landlord shall also have the right to review and audit from time to time Tenant's business operations including all books, records and financial statements of Tenant. Tenant shall promptly provide to Landlord copies of all such books, records, financial statements or any other documentation of Tenant's business operations reasonably requested by Landlord.