Common use of Final account and adjustments Clause in Contracts

Final account and adjustments. As soon as reasonably practicable after the end of the financial year, the Landlord must furnish the Tenant with an account of the Service Charge payable by him in respect of such expenditure, credit being given for payments made by the Tenant on account. Within 7 days of the furnishing of such an account, the Tenant must pay the Service Charge, or any balance of it payable, to the Landlord. The Landlord must allow any amount overpaid by the Tenant to him against future payments of the Service Charge, whether on account or not. At the end of the Term the Landlord must repay to the Tenant any outstanding overpayment of the Service Charge.

Final account and adjustments. As soon as reasonably practicable after the end of the financial year, the Landlord must furnish the Tenant with an account of the Service Charge payable by him in respect of such expenditurefor that financial year, credit being given for payments made by the Tenant on account. Within 7 14 (fourteen) days of the furnishing of such an account, the Tenant must pay the Service Charge, or any balance of it payable, to the Landlord. The Landlord must allow any amount overpaid by the Tenant to him against future payments of the Service Charge, whether on account or not. At the end of the financial year current at the end of the Term the Landlord must repay credit to the Tenant next financial year any outstanding overpayment of the Service Charge.