Tenant’s Right to Audit. The annual Statement of Operating Costs for the preceding year shall be provided by Landlord on or before April 30th of each calendar year after the Base Year of the Lease term. Within ninety (90) days after receipt of the Statement, Tenant shall be entitled, upon ten (10) days prior written notice (“Inspection Notice”) and during normal business hours, at Landlord’s office or such other place as Landlord shall reasonably designate, to inspect and examine those books and records of Landlord relating to the determination of Operating Costs for only the immediately preceding calendar year. Any third party engaged by Tenant to inspect or examine the books and records shall be a certified public accountant from a nationally or regionally recognized accounting firm and such accountant shall not be compensated on a contingency fee or similar basis. Should Tenant elect to inspect such records, Tenant’s inspection shall be completed and the results thereof submitted to Landlord no later than two (2) months after Tenant’s notification to Landlord of its intent to inspect Landlord’s books and records. Tenant shall be deemed to have waived its right to inspect Landlord’s books and records if Tenant fails to timely deliver the Inspection Notice, or fails to timely complete the inspection (unless Landlord was the cause of the delay). If, after inspection and examination of such books and records, Tenant disputes the amounts of Operating Costs charged by Landlord, Tenant may, by written notice to Landlord, request an independent audit of such books and records. The independent audit of the books and records shall be conducted by a certified public accountant (“CPA”) acceptable to both Landlord and Tenant. If, within thirty (30) days after Landlord’s receipt of Tenant’s notice requesting an audit, Landlord and Tenant are unable to agree on the CPA to conduct such audit, then Landlord may designate a nationally recognized accounting firm not then employed by Landlord or Tenant to conduct such audit. The audit shall be limited to the determination of the amount of Operating Costs for the subject calendar year. If the audit discloses that the amount of Operating Costs billed to Tenant was incorrect, the appropriate party shall pay to the other party the deficiency or overpayment, as applicable. All costs and expenses of the audit shall be paid by Tenant unless the audit shows that Landlord overstated Operating Costs for the subject calendar year by more than five percent (5...
Tenant’s Right to Audit. Subject to the provisions of this Section and provided that no Event of Default of Tenant exists, Tenant shall have the right to examine the correctness of the Statement or any item contained therein:
Tenant’s Right to Audit. Within 90 days after receipt of ----------------------- Landlord's Statement, Tenant shall have the right to audit at Landlord's local offices, at Tenant's expense, Landlord's accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld. If such audit reveals that Landlord has overcharged Tenant and Tenant has paid said sum to Landlord, the amount overcharged shall be repaid to Tenant within 30 days after the audit is concluded, together with interest thereon at the rate of 10% per annum, from the date the payment was made by Tenant until payment of the overcharge is made to Tenant. In addition, if the Statement exceeds the actual Operating Expenses which should have been charged to Tenant by more than 5%, the cost of the audit shall be paid by Landlord.
Tenant’s Right to Audit. Each statement provided by Landlord pursuant to this Section 3.2 shall be conclusive and binding upon Tenant unless fifteen (15) days after receipt of the statement, Tenant shall notify Landlord that it disputes the correctness of the statement, specifying the respects in which the statement is claimed to be incorrect. If Landlord and Tenant are unable to resolve the dispute, Tenant shall then have the right to request that Landlord provide, at Tenant’s expense, an audit of its books and records relating to the statement. Pending determination of the dispute, Tenant shall pay within ten (10) days from notice any amounts due from Tenant in accordance with the statement, but such payment shall be without prejudice to Tenant’s position. If the dispute shall be resolved in Landlord’s favor, Tenant shall pay to Landlord upon demand all other costs and expenses incurred by Landlord in connection therewith.
Tenant’s Right to Audit. Within ninety (90) days after receipt of Landlord’s statement setting forth actual Operating Expenses (the “Statement”), Tenant shall have the right to audit at Landlord’s local offices, at Tenant’s expense, Landlord’s accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld, or by Tenant’s independent lease administration consultants who shall not be compensated on a contingency or percentage basis. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded. If such audit reveals that Landlord has undercharged Tenant, the amount of undercharge shall be paid by Tenant to Landlord within 30 days after the audit is conducted. In addition, if the Operating Expenses included in the Statement exceed the actual Operating Expenses which should have been charged to Tenant by more than five percent (5%), the cost of the audit shall be paid by Landlord. Tenant may not withhold any payment due as set forth in this Lease pending completion of the audit.
Tenant’s Right to Audit. Provided Tenant is not in default under any provision of this Lease after notice and expiration of the applicable cure period, if any, provided for in Article 16, within twelve (12) months after the receipt by Tenant of the annual statement with respect to any item of Additional Rent for a calendar year, or tax year, if applicable with respect to taxes, Tenant may, upon no less than thirty (30) days' prior written notice to Landlord, audit Landlord's books pertaining to such Additional Rent payable by Tenant pursuant to Articles 5, 6, and 7 for such calendar year or tax year, as the case may be. Tenant's audit shall be performed by a certified public accountant who is retained strictly on a non-contingency basis. The audit shall be conducted at the office designated by Landlord and shall be during usual business hours. Tenant's right to audit shall be restricted to one (1) per calendar year and shall be at the sole cost and expense of Tenant. In no event shall Tenant's right to audit relieve Tenant of its obligation to pay all amounts due as provided in this Lease. Tenant shall deliver a copy of the results of such audit to Landlord within fifteen (15) days of its receipt by Tenant. Any information gained from such audit shall be confidential and shall not be disclosed by Tenant, its agents and/or employees except to Tenant's attorneys, accountants, and consultants or in connection with any contemplated assignments or in connection with any administrative or judicial proceedings in which Tenant may be required to divulge such information.
Tenant’s Right to Audit. In the event that Tenant shall dispute the amount set forth in Landlord’s statement of actual Operating Costs of the Building, Tenant shall have the right, exercisable not later than one hundred eighty (180) days following receipt of such statement (except for the Base Year, which may be audited up to the later of (i) one (1) year after receipt of the statement for the Base Year, or (ii) thirty (30) days after receipt Landlord’s statement for the year immediately following the Base Year), to cause Landlord’s books and records to be audited by an independent Certified Public Accountant mutually acceptable to Landlord and Tenant. Such audit shall occur upon not less than ten (10) days prior written notice to Landlord, and shall be conducted during Landlord’s normal business hours at Landlord’s normal place of business, the actual location of Landlord’s books and records or such other location selected by Landlord in its reasonable discretion, but in any event in the Washington, D.C. metropolitan area. The amounts payable under this Article IX shall be appropriately adjusted on the basis of such audit. The cost of such audit shall be borne by Tenant unless the discrepancy is greater than five percent (5%), in which case the cost shall be borne by Landlord. If Tenant does not request an audit in accordance with this Section within one hundred eighty (180) days of receipt of Landlord’s statement of actual Operating Costs (or such longer period with respect to the Base Year), such statement shall be conclusively binding upon Landlord and Tenant except in the event of fraud or intentional misrepresentation of the Operating Costs.
Tenant’s Right to Audit. Landlord shall deliver to Tenant an itemization in reasonable detail of the hard costs of construction and Soft Costs of the Work (collectively, the “Construction Costs”) incurred by Landlord in connection with the Work at least monthly during the progress of the Work, including copies of invoices requested by Tenant. Landlord shall maintain such records for a period of two (2) years after the Completion Date. Tenant, its accountants or agents, shall have the right to inspect, at reasonable times and in a reasonable manner, such of Landlord’s books of account and records as pertain to and contain information concerning the Construction Costs in order to verify the amounts thereof. If Tenant’s audit discloses an overcharge by Landlord, Landlord shall reimburse Tenant the amount of such overpayment within 30 days of such determination and if such overcharge is in excess of five percent (5%) of Construction Costs for the year in question, then Landlord shall pay Tenant’s accounting fees reasonably incurred in auditing the Construction Costs, even if Tenant’s auditor is paid on a contingency basis.
Tenant’s Right to Audit. Within ninety (90) days after receipt of Landlord’s statement setting forth actual Operating Expenses (the “Statement”), Tenant shall have the right to audit at Landlord’s local offices, at Tenant’s expense, Landlord’s accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded. If such audit reveals that Landlord has undercharged Tenant, the amount of undercharge shall be paid by Tenant to Landlord within 30 days after the audit is concluded. In addition, if the Statement exceeds the Operating Expenses which should have been charged to Tenant by more than five percent (5%), the cost of the audit shall be paid by Landlord. Tenant may not withhold any payment due as set forth in this Lease pending completion of the audit.
Tenant’s Right to Audit. Within sixty (60) days after receipt of Landlord's statement setting forth actual Operating Expenses (the "Statement"), Tenant shall have the right to audit at Landlord's local offices, at Tenant's expense, Landlord's accounts and records relating to Operating Expenses. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded. In addition, if the Statement exceeds the actual Operating Expenses which should have been charged to Tenant by more than ten percent (10%), the cost of the audit shall be paid by Landlord.
