Common use of Records and Adjustments Clause in Contracts

Records and Adjustments. Landlord shall keep records showing all expenditures made in connection with Operating Costs and Taxes, and such records shall be available for inspection by Tenant for a period of one hundred twenty (120) days after receipt of the statement of actual costs ("Record Review Period"); Landlord and Tenant agree the results of any such audit or review shall remain confidential. Tenant hereby waives any right to any adjustment of sums paid under this Section 10 unless a claim in writing specifying the reasons therefor is delivered to Landlord no later than sixty (60) days after the Record Review Period for the year for which the sums were paid. Operating Costs and Taxes shall be prorated for any portion of a year at the beginning or end of the term of this Lease. Notwithstanding this Section 10, the Rent payable by Tenant shall in no event be less than the Rent specified in Section 1(h) hereof.

Appears in 2 contracts

Samples: Lease Agreement (Avenue a Inc), Letter Agreement (Avenue a Inc)

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Records and Adjustments. Landlord shall keep records showing all expenditures made in connection with Operating Costs and Taxes, and such records shall be available for inspection by Tenant for a period of one hundred twenty (120) days after receipt of the statement of actual costs ("Record Review Period"); Landlord and Tenant agree the results of any such audit or review shall remain confidential. Tenant hereby waives any right to any adjustment of sums paid under this Section 10 unless a claim in writing specifying the reasons therefor is delivered to Landlord no later than sixty (60) days after the Record Review Period for the year for which the sums were paid. Operating Costs and Taxes shall be prorated for any portion of a year at the beginning or end of the term of this Lease. Notwithstanding this Section 10, the Rent payable by Tenant shall in no event be less than the Rent specified in Section 1(hl(h) hereof.

Appears in 1 contract

Samples: Sublease Agreement (Avenue a Inc)

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Records and Adjustments. Landlord shall keep records showing all expenditures made in connection with Operating Costs and Taxes, and such records shall be available for inspection by Tenant for a period of one hundred twenty (120) days after receipt of the statement of actual costs ("Record Review Period"); Landlord and Tenant agree the results of any such audit or review shall remain confidential. Tenant hereby waives any right to any adjustment of sums paid under this Section 10 unless a claim in writing specifying the reasons therefor is delivered to Landlord no later than sixty (60) days after the Record Review Period for the year for which the sums were paid. Operating Costs and Taxes shall be prorated for any portion of a year at the beginning or end of the term of this Lease. Notwithstanding this Section 10, the Rent payable by Tenant shall in no event be less than the Rent specified in Section 1(h) hereofl(h)hereof.

Appears in 1 contract

Samples: Sublease Agreement (Avenue a Inc)

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