Tenant Right to Audit Sample Clauses

Tenant Right to Audit. For a period of twelve (12) months after Tenant’s receipt of such Annual Expense Statement (or if a supplemental or amended statement is provided, after the delivery of such supplemental or amended statement), Landlord shall upon Tenant’s written request therefor, provide such additional information at Tenant’s sole reasonable cost as reasonably necessary for Tenant to verify the amount of Operating Expenses incurred during the preceding calendar year. For a period of twelve (12) months after Tenant’s receipt of such Annual Expense Statement (or subsequent supplemental or amended statement), Tenant, or an independent, certified public accountant who is hired by Tenant on a non-contingent fee basis and who offers a full range of accounting services and is reasonably acceptable to Landlord, shall have the right, during regular business hours and after giving at least ten (10) days’ advance written notice to Landlord, to inspect and complete an audit of Landlord’s books and records relating to Operating Expenses for the immediately preceding calendar year. Tenant shall (and shall cause its employees, agents and consultants to) keep the results of any such audit or audited statement strictly confidential. Within such twelve (12) month period, if Tenant disagrees with the Annual Expense Statement, Tenant shall notify Landlord that it disputes the correctness of the Annual Expense Statement (such notice a “Tenant Expense Dispute Notice”), specifying the particular respects in which the Annual Expense Statement is claimed to be incorrect. Pending the determination of any such dispute by agreement or litigation as aforesaid, Tenant shall pay to Landlord the amount due under the disputed Annual Expense Statement, within thirty (30) days after Landlord gives same to Tenant, and such payment to be without prejudice to Tenant’s position. If upon resolution of such dispute (whether by mutual agreement between Landlord and Tenant or by judicial determination), the amounts paid by Tenant to Landlord for Operating Expenses exceed the amounts to which Landlord is entitled hereunder, Landlord shall, at Landlord’s option, either credit the amount of such excess toward the next monthly payments of Operating Expenses due hereunder or remit such net overpayment to Tenant within thirty (30) days, or if the amounts paid by Tenant to Landlord for Operating Expenses is less than the amounts to which Landlord is entitled hereunder, Tenant shall pay such deficiency to Landlord within...
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Tenant Right to Audit. 4.5.1 Provided that Tenant delivers written notice of its intent to audit within one (1) year after receipt of Landlord’s Statement of the actual Tenant’s Share of Operating Expenses and Tenant’s Share of Real Estate Tax Expenses, and completes such audit within two hundred ten (210) days after the date of Tenant’s notice of intent to audit (which two hundred ten (210) day period will be extended for delays caused by Landlord), Tenant shall have the right, at Xxxxxx’s sole cost and expense (except as and to the extent set forth in clause 4.5.5 below), to conduct a reasonably and specifically defined audit of Landlord’s books and records relating to Operating Expenses for the one (1) year immediately preceding the applicable Statement (provided, however, that Tenant shall not have the right to audit the Operating Expenses for any calendar year more than one (1) time) in accordance with the following terms and provisions:
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Tenant Right to Audit. DURING THE SIXTY (60)-DAY PERIOD AFTER RECEIPT OF ANY LANDLORD'S STATEMENT (THE "Review Period"), TENANT MAY INSPECT AND AUDIT LANDLORD'S RECORDS RELEVANT TO THE COST AND EXPENSE ITEMS REFLECTED IN SUCH LANDLORD'S STATEMENT AT A REASONABLE TIME MUTUALLY AGREEABLE TO LANDLORD AND TENANT DURING LANDLORD'S USUAL BUSINESS HOURS. EACH LANDLORD'S STATEMENT SHALL BE CONCLUSIVE AND BINDING UPON TENANT UNLESS WITHIN NINETY (90) DAYS AFTER RECEIPT OF SUCH LANDLORD'S STATEMENT TENANT SHALL NOTIFY LANDLORD THAT IT DISPUTES THE CORRECTNESS OF LANDLORD'S STATEMENT, SPECIFYING THE RESPECTS IN WHICH LANDLORD'S STATEMENT IS CLAIMED TO BE INCORRECT. IF, AFTER SUCH INSPECTION, TENANT DISPUTES THE AMOUNT OF BUILDING OPERATING EXPENSES OR COMMON OPERATING EXPENSES PAYABLE BY UNDER THIS ARTICLE 5, TENANT SHALL BE ENTITLED TO RETAIN AN INDEPENDENT COMPANY OR CERTIFIED PUBLIC ACCOUNTANT REASONABLY ACCEPTABLE TO LANDLORD TO REVIEW LANDLORD'S RECORDS TO DETERMINE THE PROPER AMOUNT OF SUCH ADDITIONAL RENT. IF SUCH AUDIT OR REVIEW REVEALS THAT LANDLORD HAS OVERCHARGED TENANT, THEN WITHIN FIFTEEN (15) DAYS AFTER THE RESULTS OF SUCH AUDIT ARE MADE AVAILABLE TO LANDLORD, LANDLORD SHALL REIMBURSE TENANT THE AMOUNT OF SUCH OVERCHARGE PLUS INTEREST AT THE REFERENCE OR PRIME RATE IN EFFECT FROM TIME TO TIME AT CITIBANK, OR ITS SUCCESSOR (AND, IN THE ABSENCE THEREOF, AT THE PRIME RATE PUBLISHED IN THE WALL STREET JOURNAL), FROM THE DATE OF OVERPAYMENT (THE "Prime Rate"). IF THE AUDIT REVEALS THAT TENANT WAS UNDERCHARGED, THEN WITHIN FIFTEEN (15) DAYS AFTER THE RESULTS OF THE AUDIT ARE MADE AVAILABLE TO TENANT, TENANT SHALL REIMBURSE LANDLORD THE AMOUNT OF SUCH UNDERCHARGE PLUS INTEREST THEREON AT THE PRIME RATE. IF LANDLORD DESIRES TO CONTEST SUCH AUDIT RESULTS, LANDLORD MAY DO SO BY SUBMITTING THE RESULTS OF THE AUDIT TO ARBITRATION PURSUANT TO SECTION 13.8 OF THE LEASE WITHIN SIXTY (60) DAYS OF RECEIPT OF THE RESULTS OF THE AUDIT, AND THE ARBITRATION SHALL BE FINAL AND BINDING UPON LANDLORD AND TENANT. TENANT AGREES TO PAY THE COST OF SUCH AUDIT, PROVIDED THAT, IF THE AUDIT REVEALS THAT LANDLORD'S DETERMINATION OF SUCH ADDITIONAL RENT AS SET FORTH IN ANY STATEMENT SENT TO TENANT WAS IN ERROR IN LANDLORD'S FAVOR BY MORE THAN FIVE PERCENT (5%), LANDLORD SHALL PAY THE REASONABLE COST OF SUCH AUDIT. PENDING THE DETERMINATION OF SUCH DISPUTE AS HEREINAFTER PROVIDED, TENANT SHALL PAY ADDITIONAL RENT IN ACCORDANCE WITH THE APPLICABLE LANDLORD'S STATEMENT, AND SUCH PAYMENT SHALL BE WITHOUT PREJUDI...
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Related to Tenant Right to Audit

  • Right to Audit During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.

  • Landlord’s Option to Repair Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or Project, in which event this Lease shall terminate, by notifying Tenant in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice will include a termination date giving Tenant sixty (60) days to vacate the Premises, but this Lease may be so terminated Landlord may so elect only if the Building or Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred eighty (180) days after the date of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or Project or ground lessor with respect to the Building or Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground lease, as the case may be; (iii) the damage is not fully covered by Landlord’s insurance policies or that portion of the proceeds from Landlord’s insurance policies allocable to the Building or the Project, as the case may be; (iv) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; (v) the damage occurs during the last twelve (12) months of the Lease Term; or (vi) any owner of any other portion of the Project, other than Landlord, does not intend to repair the damage to such portion of the Project; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, be completed within two hundred seventy (270) days after being commenced, or (b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant.

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