Common use of Tenant’s Right to Audit Clause in Contracts

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. 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 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.

Appears in 1 contract

Samples: Pixelworks Inc

AutoNDA by SimpleDocs

Tenant’s Right to Audit. Within sixty (60) days after receipt of Landlord’s 's statement setting forth actual Operating Expenses (the “Statement”"STATEMENT"), Tenant shall have the right to audit at Landlord’s 's local offices, at Tenant’s 's expense, Landlord’s '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. 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 Statement exceeds the actual Operating Expenses which should have been charged to Tenant by more than ten six percent (106%), the cost of the audit shall be paid by Landlord.

Appears in 1 contract

Samples: Arena Pharmaceuticals Inc

Tenant’s Right to Audit. Within sixty (60) 90 days after receipt of ----------------------- Landlord’s statement setting forth actual Operating Expenses (the “'s Statement”), Tenant shall have the right to audit at Landlord’s 's local offices, at Tenant’s 's expense, Landlord’s '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 TenantTenant and Tenant has paid said sum to Landlord, the amount overcharged shall be paid repaid 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 conductedconcluded, 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 ten percent (105%), the cost of the audit shall be paid by Landlord.

Appears in 1 contract

Samples: Lease (Impac Medical Systems Inc)

AutoNDA by SimpleDocs

Tenant’s Right to Audit. Within sixty (60) days after receipt of Landlord’s 's statement setting forth actual Operating Expenses (the "Statement"), Tenant shall have the right to audit at Landlord’s 's local offices, at Tenant’s 's expense, Landlord’s '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. 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 Statement exceeds the actual Operating Expenses which should have been charged to Tenant by more than ten six percent (106%), the cost of the audit shall be paid by Landlord.

Appears in 1 contract

Samples: Medarex Inc

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