Common use of Selection of Accountants Clause in Contracts

Selection of Accountants. If Tenant disputes the amount of an adjustment or the proposed estimated increase or decrease in Taxes or Annual Operating Costs, Tenant shall give Landlord written notice of such dispute within thirty (30) days after Landlord advises Tenant of such adjustment or proposed increase or decrease. Tenant's failure to give such notice shall waive its right to dispute the amounts so determined. Tenant shall also not be entitled to dispute the foregoing amounts if Tenant is then in default hereunder. If Tenant is entitled to and timely objects, Tenant shall have the right to engage its own accountants ("Tenants Accountants") for the purposes of verifying the accuracy of the statement in dispute, or the reasonableness of the adjustment or estimated increase or decrease. If Tenant's Accountants determine that an error has been made, Landlord and Tenant's Accountants shall endeavor to agree upon the matter. If they cannot agree within twenty (20) days from the date Tenant's Accountants commence reviewing Landlord's records, Landlord and Tenant's Accountants shall jointly

Appears in 4 contracts

Samples: Deed of Lease Agreement (Litronic Inc), Deed of Lease Agreement (Litronic Inc), Deed of Lease Agreement (Litronic Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.