Owner's Audits. Owner shall have the right to have its independent accounting firm examine the books and records of the Hotel at any reasonable time upon forty-eight (48) hours notice to Manager;
Owner's Audits. On no less than forty-eight hours’ prior written notice, the Owner will have the absolute right to conduct an audit of the Hotel’s operations and the Management Company’s books and records related thereto by using its own internal auditors or by employing independent auditors. Except as set forth below, the Owner will bear the costs associated with conducting any such audit. Should the Owner’s employees or agents discover either weaknesses in internal controls or errors in record keeping, the Owner will communicate such findings to the Management Company in writing. The Management Company must correct such discrepancies upon discovery. The books of accounts and all other records relating to or reflecting operations of the Hotel at all reasonable times must be available to the Owner and its auditors for examination, audit, inspection, transcription, and reproduction, with no less than forty-eight hours’ prior written notice. If any audit conducted by or on behalf of the Owner reveals a discrepancy in the calculation of Gross Operating Profit in excess of two percent thereof, the Management Company will be responsible for the costs and expenses of such audit.
