Common use of Licensor’s Right to Audit Clause in Contracts

Licensor’s Right to Audit. Upon reasonable advance notice to Licensee, Licensee shall permit Licensor, its accountants, attorneys and agents, to enter upon any part of the Hotel at all reasonable times during, and for a period of three (3) years following, the term of this Agreement, for the purpose of examining, inspecting, auditing and making extracts of all financial and other Books and Records of Licensee which relate to the term of this Agreement. If an audit of such Books and Records discloses that Licensor has been paid less than ninety-eight percent (98%) of all Continuing Fees during any Fiscal Year, Licensee shall immediately pay the deficiencies, together with interest thereon at the Interest Rate, and shall also pay to Licensor immediately upon demand therefor all of Licensor’s reasonable costs of such audit. If the audit discloses that ninety-eight percent (98%) or more of all Continuing Fees and other fees and payments due have been made, Licensee shall pay any deficiency immediately, together with interest thereon at the Interest Rate, and Licensor shall bear the costs of the audit. Notwithstanding the foregoing, if, during the Term of this Agreement, it is determined that Licensee has failed to pay at least ninety-eight percent (98%) of all Continuing Fees and such other payments due on three (3) separate occasions then Licensee shall pay the costs of an annual audit thereafter for the duration of the Term of the Agreement and any extensions thereof.

Licensor’s Right to Audit. Upon reasonable advance written notice to Licensee, Licensee shall permit Licensor, its accountants, attorneys and agents, to enter upon any part of the Hotel Licensed Location and the Hotel/Casino at all reasonable times up to four (4) times a year during, and annually for a period of three (3) years following, the term of this AgreementAgreement (subject to Gaming Laws and regulations), for the purpose of examining, inspecting, auditing and making extracts of all financial and other Books and Records of Licensee which relate Licensor, in its discretion, shall deem necessary or advisable in order to the term of confirm compliance with this Agreement. If an audit of such Books and Records discloses that Licensor Licensee has been paid less than ninety-eight five percent (9895%) of all Continuing Fees and other fees and payments due under this Agreement during any Fiscal Year, Licensee shall immediately pay the deficiencies, together with interest thereon at the Interest Rate, and shall also pay to Licensor immediately upon demand therefor all of Licensor’s reasonable costs of such audit. If the audit discloses that ninety-eight five percent (9895%) or more of all Continuing Fees and other fees Fees and payments due have been made, Licensee shall pay any deficiency immediately, together with interest thereon at the Interest Rate, and Licensor shall bear the costs of the audit. Notwithstanding the foregoing, if, during the Term of this Agreement, it is determined that Licensee has failed to pay at least ninety-eight percent (98%) of all Continuing Fees and such other payments due on three (3) separate occasions then Licensee shall pay the costs of an annual audit thereafter for the duration of the Term of the Agreement and any extensions thereof.

Licensor’s Right to Audit. Upon reasonable advance written notice to Licensee, Licensee shall permit Licensor, its accountants, attorneys and agents, to enter upon any part of the Hotel Licensed Location and the Hotel/Casino at all reasonable times up to four (4) times a year during, and annually for a period of three (3) years following, the term of this AgreementAgreement (subject to Gaming Laws and regulations), for the purpose of examining, inspecting, auditing and making extracts of all financial and other Books and Records of Licensee which relate Licensor, in its discretion, shall deem necessary or advisable in order to the term of confirm compliance with this Agreement. If an audit of such Books and Records discloses that Licensor Licensee has been paid less than ninety-eight five percent (9895%) of all Continuing Fees and other fees and payments due under this Agreement during any Fiscal Year, Licensee shall immediately pay the deficiencies, together with interest thereon at the Interest Rate, and shall also pay to Licensor immediately upon demand therefor all of Licensor’s 's reasonable costs of such audit. If the audit discloses that ninety-eight five percent (9895%) or more of all Continuing Fees and other fees Fees and payments due have been made, Licensee shall pay any deficiency immediately, together with interest thereon at the Interest Rate, and Licensor shall bear the costs of the audit. Notwithstanding the foregoing, if, during the Term of this Agreement, it is determined that Licensee has failed to pay at least ninety-eight percent (98%) of all Continuing Fees and such other payments due on three (3) separate occasions then Licensee shall pay the costs of an annual audit thereafter for the duration of the Term of the Agreement and any extensions thereof.